If retreating to a foreign country for retirement is on your mind, you are not alone. In the days between Jan. 6-10, 2021, traffic spiked on the website International Living as people looked for information on the best overseas places to move to. In fact, in October 2020, the global retirement and relocation opportunity website said it had seen a 1,600% increase in search volume around the term "move out of the U.S." since May.
If you've been considering a major move related to impending retirement, a recent study from NetCredit can help — as long as you have $600K put aside.
For this study, NetCredit figured out that to retire at the average age in America (64) with the average life expectancy (78.7), one would need to have $601,489 in the bank. The study took into account several quality-of-life expectations, such as going out once a week, getting takeout coffee once a week, moderate drinking, and taking two vacations.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
