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Buy Overseas to Save Your Retirement
About 600,000 American retirees have their Social Security payments direct-deposited into foreign banks or receive their monthly checks at foreign addresses, and the U.S. State Department reports about 6.3 million Americans living abroad. Those 6.3 million Americans abroad are the ones voluntarily reporting their status to U.S. embassies, and many thousands of retirees living overseas continue to have their Social Security payments deposited to U.S. bank accounts (because it's easier). In other words, there's no way to know for sure how many American retirees are retired beyond U.S. borders, but I can tell you one thing about this with certainty: The number is growing fast.
The current plight of the American retiree is well known. The baby boomer retirees, having worked hard, funded a retirement account, invested in a home, raised a family, and dreamed of the day it would all pay off, are right now facing the reality that things aren't working out as they'd long hoped. Maybe their retirement account is worth half (or less) what they expected it'd be worth at this point. Maybe their home is worth half what they were counting on, too, or, worse, maybe they owe more on the home mortgage than the property could reasonably be expected to sell for. Maybe, bottom line, their retirement resources aren't adequate to fund the retirement they were looking forward to.
If you're at or approaching this stage of life yourself, you understand the concerns ...
