{"id":14153,"date":"2015-08-13T14:12:37","date_gmt":"2015-08-13T19:12:37","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=14153"},"modified":"2015-08-13T14:12:37","modified_gmt":"2015-08-13T19:12:37","slug":"expat-retirees-reveal-how-life-has-turned-out","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/expat-retirees-reveal-how-life-has-turned-out\/","title":{"rendered":"Expat Retirees Reveal How Life Has Turned Out"},"content":{"rendered":"

\"1780023\"<\/a><\/p>\n

Here is a great article in Forbes that my friend Chuck Bolotin sent me.<\/p>\n

Ever dreamed of retiring abroad<\/a>? The lower cost of living\u2026the relaxed lifestyle\u2026the gorgeous weather\u2026 Well, that\u2019s what it\u2019s supposed<\/em> to be like. But how does that all square with reality? A new survey has the answers.<\/p>\n

The Best Places in the World to Retire site<\/a> just polled 389 expats from the United States and Canada now living in three popular Central America retirement countries: Belize, Nicaragua and Panama. The transplants were asked why they wanted to retire abroad and what it\u2019s been like.<\/p>\n

\u201cTheir expectations were very high and they met them,\u201d says Chuck Bolotin, the site\u2019s Vice President for Business Development. \u201cRetiring abroad made them happy.\u201d<\/p>\n

The biggest revelation for Bolotin: The striking number of expats who left home for quality-of-life issues, such as a more meaningful and less stressful life. \u201cThe fact that they wanted a lower cost of living didn\u2019t surprise me,\u201d says Bolotin. \u201cWhat did surprise me was how close the quality-of-life issues were right behind.\u201d<\/p>\n

Bolotin also said he found it fascinating how many expats said they were seeking to live a life like they remembered, or believed it to be, growing up in the \u201850s and \u201860s. \u201cIsn\u2019t it ironic that they\u2019re leaving America and finding it in some other place?\u201d he asks, rhetorically. \u201cI heard again and again that they wanted more of a feeling of community. And they got that: they know their neighbors.\u201d<\/p>\n

The survey\u2019s key findings:<\/p>\n

Most thought that by moving abroad they\u2019d achieve a lower cost of living (87%), a simpler, less stressful life (82%) and better weather (74%). Those were the top three hopes.<\/p>\n

They realized two out of three of those desires: 84% said they achieved a lower cost of living and 74% got better weather. \u201cThat tells me that a lower cost of living is achievable, it\u2019s a fact,\u201d says Bolotin. The only respondents who said they didn\u2019t find lower costs, he noted, were Americans insistent on buying American products. \u201cThose products by definition are more expensive, because they\u2019re imported,\u201d says Bolotin.<\/p>\n

But the \u201csimpler, less stressful\u201d life didn\u2019t always materialize. Only 71% are living a simpler, less stressful life, compared to the 82% who were hoping for it.<\/p>\n

\u201cPeople from first-world countries like the United States are used to getting things done now \u2014 you call the cable guy and he says he\u2019ll be there at 3 and you expect him to be there at 3, not at 10 the next day,\u201d says Bolotin. \u201cWhen that doesn\u2019t happen, it induces stress for many people. They\u2019re frustrated.\u201d<\/p>\n

(MORE: 5 Things That Trip People Up When Retiring Abroad)<\/p>\n

While 56% thought they\u2019d achieve \u201ca less materialistic, or more meaningful life\u201d (the No. 4 reason cited for retiring abroad), an even higher percentage actually did. An impressive 61% of the expats say they\u2019ve found more meaning.<\/p>\n

\u201cWhat that says to me is that they believe they can achieve a less materialistic, more meaningful life overseas more than in the United States or where they came from,\u201d says Bolotin. \u201cIt\u2019s not just about money.\u201d<\/p>\n

Women were more likely than men to find a less materialistic life abroad. Two thirds of women said they achieved this, but only 56% of men did.<\/p>\n

The vast majority of U.S. expats in these countries (85%) are happier living abroad than they were before. \u201cThat\u2019s a huge number,\u201d says Bolotin. (Though keep in mind that the survey wouldn\u2019t include people who hated the expat life so much they moved back to their country of origin.)<\/p>\n

Specifically, 56% said they\u2019re much happier and 28% said they\u2019re somewhat happier. Only 5% are less happy now and 11% said they\u2019re about as happy as before they moved.<\/p>\n

Similarly, 64% said they enjoy life abroad much more than their former lives.<\/p>\n

What Americans miss most: \u201cFirst-world goods and shopping\u201d (said 20%) and \u201cNot enough access to high-quality health care\u201d (16%). Bolotin\u2019s caution: Health care isn\u2019t homogenous within these countries; cities tend to have something akin to American-style, but rural areas don\u2019t.<\/p>\n

For many, the move is permanent. The survey found that 42% of the expats never plan to go back to the U.S. and 37% aren\u2019t sure; another 16% expect to return to America when they\u2019re old or sick, 4% said \u201cas soon as possible\u201d and 3% anticipating moving back within five years.<\/p>\n

And if they had to do it all over again, nearly all would. Of the former Americans surveyed, 79% said so and another 12% said they probably would; 3% either wouldn\u2019t or probably wouldn\u2019t.<\/p>\n

Bolotin\u2019s advice for anyone thinking of retiring abroad: \u201cYou have to go to something as opposed to running from something.\u201d Also, he says, do your research before you make a move. \u201cBeing on vacation is not the same as living in a place,\u201d Bolotin says.<\/p>\n

Richard Eisenberg is the senior Web editor of the Money & Security and Work & Purpose channels of Next Avenue and Assistant Managing Editor for the site and a contributor to Forbes. Follow him on Twitter @richeis315.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here is a great article in Forbes that my friend Chuck Bolotin sent me. Ever dreamed of retiring<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14153","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"\nExpat Retirees Reveal How Life Has Turned Out - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/expat-retirees-reveal-how-life-has-turned-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expat Retirees Reveal How Life Has Turned Out\" \/>\n<meta property=\"og:description\" content=\"Here is a great article in Forbes that my friend Chuck Bolotin sent me. 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