Retirement/Semiretirement and Relocation - Maybe Becoming an Expatriate Isn't Such a Hot Idea

Significantly lower cost of living (can make it just fine on only Social Security)

High quality of life, including proximity to an ocean 

Adventure

Possibility of operating online enterprise.

All those have been hammered as reasons for the aging in the U.S. to consider retiring/semiretiring outside the United States.

International Living has been the first step in researching that option.

In addition, every few months media outlets feature a specific location.

In 2014, when I was reflecting on downsizing the monthly nut of fixed costs in the New York City Metro area the media darling was Ecuador.

Back then it was possible to get by on $700 a month and then pony up another less than hundred bucks a month to participate in the national health care system. You bet, I was tempted.

Instead, I headed out west to Tucson, Arizona. No, it wasn't as low cost as Ecuador but was one-third my monthly freight in New York Metro. 

Now, because of COVID-19, The Expatriate Dream is in play. As Chron explains, those retirees/semiretired based aboard and those who had been toying with that as an option are pulling back. 

Three factors are influencing the emerging ambivalence.

One is financial uncertainty. Even in the lowest cost locations you need a stream of income to make ends meet. That stream is being disrupted by the sustained volatility of the stock market. Maybe this isn't the time to be making big financial decisions such as becoming an expatriate. There are other options such as relocating to small towns in Alabama or even the city of Toledo, Ohio. 

The second is access to high quality healthcare. Surviving COVID-19 when older could require a lot of sophisticated equipment. That might not be available in some locations outside the U.S. 

And, third, borders could be shut down. There may be no legal way to leave the location for health care or anything else such as returning to the U.S. to visit grandchildren.

Like so many business niches, the expatriate relocation one, is taking a hit during the pandemic.

Overall uncertainties make it common sense to stick with the devil we know and not take on any more unknowns. 

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