retiring abroad

This year, 2012, marks the first year since 2009 that U.S. retirees will finally see a cost-of-living adjustment ( COLA) of +3.6 percent in their Social Security benefits.

"I don't like being called an ex-patriot," my friend Jack said. He's a former elected official and about as red-white-and-blue as they come. His wife is a former trial judge. But now they're retired and living in Ecuador...for the adventure, the pleasurable lifestyle, and the lower cost of living.

"What do you miss the most from home?"

Retirement Resorts: Aging retirees of yore may have moved in with family, headed to a Sun Belt retirement community or took up residence in an assisted living facility. Today's retirees? According to the Wall Street Journal, they're living on cruise ships, in spas, at "fully staffed homes in Costa Rica," shared houses with other retirees or in "backyard bungalows" on adult children's property.

With substantially lower costs, international destinations may allow more people to afford retirement.