Estimates for the USA put 1 million American retires living abroad, for at least part of the year, and the numbers are increasing as people do their research and learn that, despite exchange rate fluctuations, their dollars go a lot further away from home. Not only that, there are concerns amongst those about to retire, who are worried that their pensions won't be enough to support them well into old age.

According to a survey recently undertaken by the Society of Actuaries in the US, Americans worry that inflation and the rising cost of health care are increasing the risk that they will run out of money in retirement. heir top concern, followed by inflation and the costs of long-term care. The study also found that those who are coming up to retirement age were increasingly nervous about finishing paid employment. In 2003, after the economy went through a recession and the stock market fell sharply people increasingly worried about inflation, nursing home expenses and health care costs in general.

Many people underestimate the financial impact of the death of a spouse. More than three quarters of the people surveyed did not realize that a surviving spouse often experiences significant drops in income and benefit coverage, especially women. This is particularly pertinent when an increased life span is taken into account - on average men are living longer by about 17 years, women by 20 years.

The study found both a lack of understanding about investing to counteract the effects of inflation, and saving more….people generally underestimate the funds they will require once retired. Most people felt the only way to balance this out was to continue working….. and as many as 28% of those surveyed felt they might never retire.

Current retirees are more likely to have a company pension than those in following generations, so whilst this is some form of security, a pension will not necessarily keep up with inflation and an rising cost of living. So increasingly pre-retirees are looking at the alternatives of moving abroad to a cheaper destination. Some locations, for example in Latin America, cost a third of the price of the States, and health care, even paid out of pocket, doesn't break the bank.

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