Retiring Abroad Essay Example | Topics and Well Written Essays - 750 words

Retiring Abroad - Essay Examplethis parvenu trend of retiring abroad, especially in the aftermath of the global financial meltdown that decimated home set and ravaged many accounts.Many people continue living where they live because of their work. When they retire, they make the ultimate finding of moving to a place where they will feel more comfortable and where their money will refinement (Knowledge). According to Social Security Administrations annual statistical supplement, the exact number of Americans retirees receiving favorable security benefits outside the United States is 350,000. The majority of these individuals are finding their way to countries like Ecuador, Mexico, Canada and the UK (Edwards & Daniels 101). This number is expect to increase with 4 million baby boomers already making plans to retire abroad (Edwards & Daniels 100).The main whimsical force behind this new trend shown by retirees is financial security. According to the confidence survey of 2014, mor eover 14 part of the workers indicated that they were confident of having enough funds to live comfortably in the United States. This baseborn level of confidence comes as a result of the global economic crisis that crushed the gains that had been made on the middle income household net worth. During this period, home price index went down by 23 percent (Knowledge). Retirement accounts that act as supplements to social security and other forms of retirement income were also not spared (Knowledge)The represent of living in such countries is much lower compared to the United States. For example, the rent in San Jose, a urban center in Costa Rica is 57 percent lower than in the city if Philadelphia (Knowledge para.8). Additionally, the prices for consumer goods are lower by 59 percent when the same city is compared to American cities. These benefits notwithstanding, the retirees need to know that that there are occult charges that they need to consider before deciding to reside ab road. For instance, the imported goods in emerging markets are