If one of your life goals is to retire in a foreign country, there are definitely many benefits. If you plan to retire outside of U.S. it is definitely a great opportunity to learn about a new culture, language and best of all save some money if you choose a place that has a low living cost. While retiring to another country definitely opens many doors it’s not something that should be done without proper thought and research about the pros and cons.
Costs on Healthcare
Seniors became eligible for healthcare and Medicare benefits once they reach the age of 65 but it doesn’t apply outside of U.S. you will have to purchase your own insurance policy and the cost of transporting back to the U.S. in case of an emergency. You might be stuck paying high premiums if you have a pre-existing health condition.
If regular doctor visits are something that you need than there are more than 30 countries that have universal healthcare benefits. It will help you narrow down your search, just keep an eye on what’s required for residency.