More Americans are retiring abroad than ever before, motivated by lower costs of living, cheap transportation and communications, affordable health care, and–perhaps most importantly–a sense of adventure.
It is, of course, those restless Baby Boomers leading this trend. I shared my thoughts with MarketWatch’s Quentin Fottrell:
The Baby Boomers have always been a little more adventurous that the generations that preceeded them. This is, after all, the generation that gave us Woodstock and the counter culture movement. Technology and cheap international travel also help a lot; these days, with social media, cheap phone calls, and even Skype, retiring Boomers can watch their grandkids grow up from thousands of miles away and visit them regularly too.
But the single biggest factor for the increased interest in international retirement comes down to simple demographics. There are a LOT more Boomers than there were of any previous generation, so even in a world in which demand for international retirement stayed constant as a percentage of the retired population, demand would be surging due to the enormous size of this generation.
To read Quentin’s article–and I highly recommend you do if you’ve ever considered living abroad–see 5 Reason Not to Retire in the U.S.