Seniors considering Latin America as a retirement option
Jun 10, 2014, 6:21 PM
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More and more seniors are looking outside the United States when looking for a place to settle down and retire, as it can be costly to stay in the country during one’s golden years.
And it may come as a surprise, but many retirees are looking to settle down south of the border — way, way south, in many cases.
USA Today reported Tarin Cardamone, 67, and her husband, James, 71, retired to Sierra Vista, Ariz., seven years ago, but the two are now looking to move to a country in Central or South America. They told USA Today they’re looking for “a different lifestyle — something that’s more exciting and adventurous than going to the local grocery store or taking a trip to Tucson.”
The couple toured Nicaragua last year, and plans to look at Ecuador in 2015, with the goal of moving by 2016.
Suzan Haskins and her husband, Dan Prescher, have written a book called “The International Living Guide to Retiring Overseas on a Budget: How to Live Well on $25,000 a Year.” The couple lives in Ecuador, and Haskins said the number of people considering Latin America as a retirement destination is growing.
Retirees are attracted to Latin America because “they are looking for places where their money will go further and where there’s better weather,” Prescher says. Plus, these countries are close to the USA, so it’s relatively easy to get back.
It’s difficult to say exactly how many Americans are retiring to Latin America, but Mexico is the most popular retirement destination, Haskins says. Some people take specially designed retirement tours to explore living in these countries.
Costa Rica, for example, is also attracting many American seniors. The country is known for great weather (average temperature of 72 degrees) and medical care and domestic help are much less expensive than in the U.S.
Panama and Nicaragua are also popular countries when it comes to U.S. retirees looking abroad, according to travel marketers interviewed by USA Today.
