More and more, soon-to-be retirees are thinking of heading overseas.
With older Americans increasingly responsible for their own financial security, workers are becoming steadily more pessimistic about their future economic prospects as they approach retirement age, according to a study by United Income, a startup that aims to apply big-data analysis to financial planning.
But instead of working longer, some are finding that they can still fulfill their retirement dreams with a move abroad, according to Dan Prescher, a senior editor at International Living.
World's Best Places to Retire
4. Costa Rica
Source: International Living
"Especially over the last decade, a lot more people are doing it — it's not a foreign concept anymore," he said.
"Outside the U.S., the cost of living can be half what it is in the States, especially in regards to health care," Prescher said. (For example, Numbeo.com's latest Cost of Living Index Rate listing ranks Puerto Vallarta, Mexico at 37.12 on its scale, with New York City being 100; Columbus, Ohio coming in at 72.12; and Reno, Nevada, at 61.75.)
However, "you have to have a sense of adventure," Prescher added. "These are different cultures, languages, economies," he said. "If you don't like challenging yourself like that, you won't have a good time."