Many retired people today are choosing to live in other countries. What are the advantages of disadvantages of this?

Many elderly people today are opting to spend their retirement living abroad. In my opinion, the disadvantages to

this

relate to living standards in foreign countries, while the advantages are largely financial. Those who are suspicious of

this

trend can point to the conditions of countries where it is possible to retire cheaply. Most of those choosing to retire abroad are moving somewhere with lower living costs,

such

as a developing nation.

This

allows them to live more comfortably with a fixed income but there are risks.The medical services are probably not as developed and they may not have insurance.

This

puts their lives in jeopardy in the increasingly likely event of an accident or prolonged illness.

Moreover

, many older people will have to adapt to lower standards than they are used to as it relates to cleanliness, transportation, and accommodation.

This

can result in both more mental and physical strain. Spending one’s retirement abroad is

nonetheless

a positive because of the financial incentives.Many people today retire with meagre savings and little support from the government, depending on their nationality. If they do not have a family to live with, they face the prospect of living in poverty or just above subsistence in their final years. By moving abroad, their money will stretch much

further

and allow them to feel peace of mind.In the countries where most choose to retire, the costs of living are considerably cheaper due to reduced rents and lower food costs.

This

might even allow older people to set aside money so that they can travel or leave an inheritance to their relations. In conclusion, the financial gains from residing abroad during retirement outweigh concerns about living conditions. Before making

this

decision it is important for each retired individual to weigh a number of factors pertaining to the quality of life, finances, family and culture.