There is no doubt that making ends meet today versus 40-50 years ago is much more difficult. Inflation and the cost of living have skyrocketed while incomes outside of professional sports and the like have not. Therefore, the same holds true for retiring. Maintaining the same lifestyle and being able to retire your way is a major challenge for many. We get it. As I’m writing this I am 63. Do we have enough in savings and retirement accounts to last us the next 20 to 30 years? Not even close.
Here’s the good news. You can enjoy a great retirement lifestyle without a huge nest egg. You just have to be open-minded and perhaps make some adjustments with regard to where you live and what you prioritize spending your money on. For instance, did you know that there were an estimated 9 million Americans living in other countries? Many of these are retired people that are enjoying a much higher quality of life than they could anywhere in the U.S. We’ve written some articles about living outside the U.S. and it’s quite amazing how well you can live with the same amount of money. Check out Retire in the Caribbean for Affordability and LifeStyle.
We hadn’t ever thought of living outside the U.S. until we took a vacation several years ago. We were looking for a getaway. Something different. Not a resort. We wanted to experience the local culture somewhere. So, a friend of ours suggested a small fishing village on the west coast of Mexico called Troncones. We had a great time and enjoyed ourselves immensely. But here was what opened our minds to the possibility of one day living outside the U.S. On Friday night we went to a local restaurant because they advertised that the sea turtles were hatching and we could watch them scurry out to the ocean. That was a cool experience. But the other part of that night was meeting many American ex-pats who now lived there and heard their stories. They were living life at a much slower pace and all seemed to really love living there. There was a big enough American ex-pat community there and they all knew each other well. This experience opened our eyes to the possibilities. If you’d like to explore those possibilities that’s what the Retire Your Way section of LifeStyle Over 50 is all about. You can live a great retirement lifestyle without a huge retirement savings account!