The baby boomer generation is re-inventing ‘retirement’.
They are not slowing down when they stop working, they are picking things up and looking for excitement and adventure to make their golden years the most fun and exciting years of their lives. As such, many are looking to travel internationally and re-locate off shore. They are becoming known as the “global boomers.”
In part this is for fun and adventure, but in part it is also because the dollar goes radically further in other parts of the world.
So where are the coolest places to retire and where does the dollar go the furthest?
US News and World Report recently ranked the Top 10 Affordable International Retirement Destinations for 2011. The #1 Affordable International Retirement Destination for 2011 is….
…..drumroll please…..
NICARAGUA.
AARP also published a ranking of the top retirement destinations for 2011 and Nicaragua made their top 5 as well.
Why Nicaragua?
1) The Cost of Living is Extraordinarily Low.
- $0.01 for a fresh tomato.
- $0.06 for a fresh orange.
- $1.50 per pound for fresh chicken.
- $3.50 to get a haircut.
- $3.50 to see a movie.
- $25 for a romantic dinner for two, complete with wine and dessert.
- $120 a month to hire a maid who will cook, clean, and do laundry.
*Source: International Living Magazine
2) Health Care is High Quality and Very Affordable.
$35 is enough for a 30-minute consultation with a U.S. trained physician who will even make house calls. I have spoken with some American ex-pats currently living in Nicaragua who have their physician’s cell phone number.
3) Nicaragua Has Passed Laws Specifically Designed to Entice Retirees to Re-Locate to Nicaragua.
Under Law 694:
- Retirees with a pension from a public or private institution are eligible to retire in Nicaragua with only $600 in monthly pension.
- Retirees with income from a stable source such as dividends are eligible with just $750/month per month.
- The retiree’s spouse, children and parents are also eligible for just $150 per person.
- Retirees are allowed to import all household goods up to $20,000 completely free of import taxes.
- Retirees are also granted a tax exemption up to $200,000 for professional or scientific items, provided they are used for the benefit of Nicaraguan society.
4) You can buy a slice of paradise
including pristine beachfront property, perfect sunny weather, fitness and wellness, world renowned golf, sunsets over the Pacific, and a fun active community—for a fraction of what it costs to live in a regular neighborhood in the US. Nicaragua’s flagship project—the Seaside Mariana Oceanfront Community*—features:
- Over a mile of pristine beach
- Beachfront Condos starting around $100,000 fully furnished
- Jack Nicklaus Signature Golf
- La Plumeria Spa and Wellness Center
- Fitness Center, Tennis Courts and Equestrian area
- Restaurants and Shopping
- On-Site Medical Clinic
*More info on the Seaside Mariana Oceanfront Community here: http://seaside.maverickinvestorgroup.com
Starting to think outside the box when it comes to ‘retirement’ is the first step to being able to retire like a rock star on your social security check!
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