Forgot to Save for Retirement, Now What?

OK, so you didn’t forget to save for retirement. Your 401K got turned upside down, and part of you retirement fund, was spent on sending your oldest child to college. Then your youngest child saw how much fun his brother was having and he wanted to go to college too.

What every your reason, you are not alone. There are millions of Americans, wondering how  to make it through retirement, gracefully.

Options?

1. Work longer, retire later, while increasing your retirement fund. Retiring at 67, 68 or even 70 years of age, seems like such a long time to work.

Will your health hold up? Would you have a healthier retirement if you retire earlier and to a warm climate?

2. Sell your home, purchase a triplex, or even a fourplex. Live in one unit, rent out the other units?

3. Look into a reverse mortgage program? Maybe.

4. Keep your home, rent out rooms to other seniors, who may be in the same situation as yourself. This option is used by millions of Americans, old and young. If you doubt this fact, look at www.Craiglist.org “rooms for rent” section, in any city.

5. If you have more than one adult child, perhaps, you could spend 6 months with one child and 6 months with the other.

If none of these ideas sound interesting, than perhaps, considering an “offshore retirement” might be of interest.

It is reported that over 1.5 million Americans are living in Mexico, Central America and even South America, for pennies on the dollar. Beach front condos, resort style apartments, part-time maid, lobster for dinner, all for $1200 to $1500, or less per month! Warm weather, clean air, high speed Internet and affordable health care, included.

All you would really need is a credit card or a savings account for airfare, back to the US, in case of an emergency.

Seniors, who opt for this life style, usually return to the US for medical check-ups, once a year. It doesn’t hurt to return to the US during the Holidays, so you can spend time with family members.

This lifestyle, is what many Americans dream of, yet never reach for, due to fear and uncertainty. If trying to live, in the US, on less than $1000 a month, doesn’t frighten you, than nothing will.

The website http://ForgottoSaveforRetirement.com provides information on retirement options, in, Mexico, Central America, South America, the Caribbean, Europe and Asia.

In Mexico, where health insurance is around $25 a month, the electric bill, $50 a month, and a maid for $5.00 a day, reasons why it is the number one retirement destination, for Americans, is easy to understand.

Millions of Americans have packed up and moved south of the boarder, and many of these Americans live very well on a limited budget.

When we visited Mexico, we were able to witness the care free lifestyle and the low cost of living, once we were outside of the tourist circles.

We caught a bus at the Tijuana, Mexico, boarder to a small costal town, about three hours into Mexico. This short, yet informative trip, allowed us to view the local economy as it really was. It was suggested that we watch for real estate signs which quoted the sale price in Mexican currency, rather than US dollars.

While traveling on the local bus, equivalent to the US’s Greyhound Bus service, I reported to my man friend, who was traveling with me, the prices on certain properties, quoted in pesos.

He looked at me and said, “You don’t know how to calculate it correctly.”

Since he didn’t believe me, you probably won’t either.  So you will have to go and see for yourself.

Active Adult communities, where Americans have purchased, are located in all parts of Mexico. Prices vary greatly.

Another retirement hotspot, is South American. Besides the year round warm weather, great beaches and friendly people, you can rent an apartment for $125 to $250 a month. Of course, you want a safe neighborhood and a hint of luxury, so be prepared to spend a reported, $500 a month.

In South America, retirement hot spots are located in Brazil, Panama, Bolivia, Chile, Peru and Paraguay. The top keyword for retirement in South America is: “Rio” In 2014, Rio (Rio de Janeiro, Brazil) will host the world cup. And in 2016, they will host the Olympic games. If you are planning to retire to Rio, purchasing real estate, “before” the Olympics, might be a good idea.

Expatriate retirement is in ….. Retirement, while poor, in America, is out. (I love you America, but retirement funds go a long way, south of the boarder) Visit http://ForgotToSaveForRetirement.com for worldwide retirement destinations.

Regardless of how old you are, it is never too early to start planning for retirement. The sooner the better. However, if you are closer to retirement than not, and forgot to save for retirement, there are options.

To locate consolidated airfares, with up to 50% off, visit http://travel360degrees.com You can also find affordable tours for visiting possible retirement spots. Planning for the retirement is half the fun.