News To Know: Retire On The Cheap, Abroad

Never got around to saving a bunch of money for retirement? Retirement account take a big hit when the market tanked? Many Americans find themselves looking into a gap between the savings they have and what they need to retire. For some of these people, retiring abroad may be able to bridge the divide. In many countries the cost of living is significantly lower than here in the U.S. You may be able to greatly reduce your retirement costs without sacrificing quality of life by moving to another country. Just keep in mind, there are a few important things to keep in mind when retiring abroad. For starters, you'll need to find health insurance as Medicare won't cover you. Despite having to deal with changing your currency and dealing with differences in local culture, spending your retirement overseas could be the key to resolving your financial woes.