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Running Out of Money in Retirement… Is there an Answer?

It’s cheaper to live and retire overseas.
retirement-saving

Running Out of Money in Retirement… Is there an Answer?

18:00 04 March in CompassLiving
Unless you are a member of the elite “1% Club” for which money is not a concern, you probably have thought about this at one point or another. Perhaps the more important question to ask yourself is…will my retirement funding allow me to live the lifestyle I want ? With mainstream news and government sources sounding the alarm about the crisis awaiting retirees in the coming years, clearly the majority of us haven’t. Nor is it necessarily from any fault of our own.

There appears to be three general schools of thought regarding retirement: Those that don’t plan—the "I'll be fine and I'll worry about what happens when it happens" crowd—Those that have planned, but the threat (and realization) of unforeseen medical costs are worrisome---or lastly, those that have planned, but for whatever reason, their plans aren’t going to give them the lifestyle they wanted to create for themselves. The common thread running through all of this is that a very real crisis exists that will affect everyone. With new economic uncertainties and new political realities, the old solutions won’t work. What is needed is a new solution to the new challenges facing those that want to retire in this new landscape.

Some people are doing just that. The number of people striking out on their own, exploring the world, taking advantage of the buying power of the American dollar has quadrupled since only 10 years ago. Real estate is plentiful around the world and the cost of living is cheap by comparison. The lure of exotic places for adventure sake is being replaced by a more pragmatic approach…it’s cheaper to live and retire overseas.

However, there are problems with the current options available for this “movement” to ever really reach it’s potential. Sure, there are websites, books and “gurus” spouting slogans like, “Retire in Timbuktu for only $50 a day”…they don’t tell you how to do it, only where opportunities for cheap real estate exist. Perhaps more importantly, those that do make the effort, deciding to take the plunge and buy real estate overseas, only to find that they are 3000 miles away with no support or customer service when the problems arise…and they always do, because no matter the amount of time spent on researching, something inevitably comes up that’s problematic because ~if you don’t know the questions to ask, how can you know the answers to them ?

Even those that successfully make the transition have problems, number one being location lock. Once you purchase in a foreign land, how easily can you walk away from the deal if circumstances change requiring you to go back to your home country ? What about taxes, health care, citizenship, security issues, changing political landscapes ?

Instead of DIY, there should be a better way, one that doesn’t require you to be all on your own, doesn’t require you to enter into a real estate transaction, doesn’t lock you in to particular location, but provides the flexibility to go back home when you want to. A system that doesn’t charge you exorbitant prices for a scant two-week stay like a time-share or cruise line. A system that helps customers explore the local flavor around the world, without the rush and forced marches of most travel/tour groups. A system whereby people can circulate throughout a network of well-maintained, furnished properties that feel like home, where included meals are prepared to order and included housekeeping allow customers to spend their time focused on relaxing and enjoying life…all the while knowing their retirement funds will last much longer because the costs of living offshore are up to 50% less than living at home. A system where the local operating partners are aligned in taking great care of the customers. Where the quality and standardization of facilities and amenities are consistent, whether in Praque or in Portugal. Where medical care is held to the highest worldwide standards. A platform that provides this type of arrangement would enable a customer to fully take their time to really explore their “home away from home”, be it in one country or multiple locations throughout the world. In short, a system that allows people to retire in style, while protecting themselves from the risks and uncertainties of doing it on their own.

The solution DOES exist. One company saw this opportunity and set out to make it a reality. Compass Living is the world’s first, all-inclusive, extended-stay overseas living facility designed to let customers experience their retirement as a vacation…with no location lock. Take one of our "discovery trips" to see if it’s right for you and discover how you can live the life you’ve always dreamed of, but thought you couldn’t afford. For more information, contact Compass Living at 1-888-900-8206 or send an email for more information to INFO@compassliving.com.

This article brought to you by Compass Living: Less Stress. Live Better

Dan Heffley

dan.bgb@gmail.com