What to do when Social Security Retirement isn't enough
One of those odd trends: An increasing number of Americans are deciding to leave the U.S. at the onset of their golden years, a.k.a. social security retirement years, for the purpose of relocating to more afforable environments. One of those environments is Mexico, a country in which the American dollar still stretches reasonably far, albeit not as far as it used to.
Why is this phenomenon occurring? There are probably a number of reasons. However, here are a few contributing factors.
1. Americans are living longer. This means that a nest egg, assuming that has been "hatched" has to last longer than it once did.
2. Though Americans are living longer, they're not necessarily healthier. Why? Recent evidence indicates that obesity is occurring at younger ages, resulting in more mobility limiations by the time an individual reaches retirement age. This often translates as a higher incidence of arthritis and degenerative disc disease, but also as a lower level of general health. This means, for some individuals, having to deal with greater health-related costs as they get older.
3. The savings rate among Americans of all ages is abysmal, and this applies to retirees. The unfortunate truth is that most retirees may only have their homes as a significant asset.
4. The American lifestyle is highly focused on consumption, which contributes to excess spending (typically on entertainment and recreational items) and a low savings rate).
Going abroad is, essentially, a plan of escape for those individuals and couples whose golden years look bleak due to limited assets and income. Is mexico the only point of retreat? No, other ports of retreat include Panama and Belize.
Additional Entries
The Question of Who Qualifies for Disability Benefits
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Disability and Poverty Blog Archives
Social Security Disability Answers
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Qualifying for Disability - how hard is it to qualify?
Disability Claims filed with social security
Why is this phenomenon occurring? There are probably a number of reasons. However, here are a few contributing factors.
1. Americans are living longer. This means that a nest egg, assuming that has been "hatched" has to last longer than it once did.
2. Though Americans are living longer, they're not necessarily healthier. Why? Recent evidence indicates that obesity is occurring at younger ages, resulting in more mobility limiations by the time an individual reaches retirement age. This often translates as a higher incidence of arthritis and degenerative disc disease, but also as a lower level of general health. This means, for some individuals, having to deal with greater health-related costs as they get older.
3. The savings rate among Americans of all ages is abysmal, and this applies to retirees. The unfortunate truth is that most retirees may only have their homes as a significant asset.
4. The American lifestyle is highly focused on consumption, which contributes to excess spending (typically on entertainment and recreational items) and a low savings rate).
Going abroad is, essentially, a plan of escape for those individuals and couples whose golden years look bleak due to limited assets and income. Is mexico the only point of retreat? No, other ports of retreat include Panama and Belize.
Additional Entries
The Question of Who Qualifies for Disability Benefits
Lyrica for Fibromyalgia and Diabetes as well
Disability and Poverty Blog Archives
Social Security Disability Answers
Social Security Disability Reconsideration - how do I file
Qualifying for Disability - how hard is it to qualify?
Disability Claims filed with social security
