"My husband wanted to find a place where we could afford to live off my Social Security, this way our investment money can be used to travel." says Ivonne. "The weather in Medellin is so perfect, and it's a beautiful place."
We are among the growing number of Americans who are retiring outside the United States. The number is expected to increase over the next 10 years as more baby boomers retire.
Just over 400,000 American retirees are now living abroad, only off their Social Security alone. Retirees most often cite the cost of living as the reason for moving elsewhere according to Olivia S. Mitchell, director of the Pension Research Council at the University of Pennsylvania's Wharton School. Colombia being less than 30 cents on the U.S. dollar makes living very affordable. Also may find it less expensive to hire someone to do laundry, clean, cook and even provide long-term care than in the United States.
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