Ready to retire? I know I am. If you don’t have two and half minutes to spare, here’s the important stuff.
Nearly 350,000 Americans get their Social Security benefits overseas- up 46% from a decade ago. 4,000 Americans are now living in Cuenca, Ecuador. Not to mention the rest of the country. I didn’t know you could get your money overseas. I think I’m ready to retire right now.
Ecuador was rated best place to retire in the world in 2013 according to Business Insider, so why is that, and why are people choosing to retire there? Three simple reasons: the weather, the cost of living, and the health care. I’ll give you a quick example of each.
Weather - The average high temperature in Loja, for example, is 73 degrees, with a seasonal variation of only 1 degree. The nights are cooler at around 45 degrees. You won’t need heat, and you won’t need air conditioning. Also, say goodbye to your snow shovel and winter jacket forever.
Cost of Living – One couple that moved from Houston used to spend $10,000 a year on their property taxes before their move. Now that they’ve moved to Cuenca their property tax costs have been slashed to $72 a year. No, I didn’t forget any extra zeros there. $72.00.
Health Care – One expat’s health insurance costs went from $640 a month here in the U.S. to $100 a month in Ecuador. The difference is literally a few months worth of rent in most major cities in Ecuador…
Think I’m joking around or just making things up? Just do a quick search online for retirement in Ecuador. You’ll be amazed by all of the stories, blogs, videos and news articles you can find on the topic. Go ahead. I’ll wait for you.
Retirement in Ecuador: