More American Retirees Seek Havens Abroad

NYTimes ^ | 7/30/05 | Hillary Chura

[qam1]

These days, some Americans heading for retirement are as concerned with pesos as pensions, and foreign language classes as Medicare. They are part of an emerging population expecting to spend their retirement abroad.

In January, baby boomers will start hitting 60 at a rate of more than four million a year. More mobile, active and adventuresome than prior generations, these 78 million Americans are rethinking retirement. Many will be lured overseas by a more affordable cost of living and temperate weather. Some will want to return to their native countries or to places where they once worked or studied.

Coreen Plewa and her husband, James, plan to move to Mexico in four years. They say they adore their home in Santa Fe, N.M., but will not be able to make ends meet once Mr. Plewa retires from teaching high school math. The Plewas and about 10 like-minded people have been meeting to discuss moves to Latin America.

"This is not like, 'I've got to get out of this hole,' " said Mrs. Plewa, who believes health care costs in the United States could eat up 40 percent of the couple's estimated $4,000 to $5,000 monthly retirement income. "We think our dime will go further."

*snip*

Mexico, Costa Rica and Panama are common retirement havens, but Nicaragua, Honduras, Ecuador and English-speaking Belize are making a push to attract retirees. Various countries in Europe are also viable alternatives, but current exchange rates make them less attractive for those with limited resources......

[InShanghai]

If you speak Chinese, Prices can be 1/10 of that at the local hospitals. However, the foreign medical centers in Shanghai are very good. I've had outpaitient surgery at a foreign medical center only because insurance covered it. If I did not have insurance I could have had the same procedure done by the same doctor, for 20% of the cost.

[BJungNan]

If you speak Chinese, Prices can be 1/10 of that at the local hospitals. However, the foreign medical centers in Shanghai are very good. I've had outpaitient surgery at a foreign medical center only because insurance covered it. If I did not have insurance I could have had the same procedure done by the same doctor, for 20% of the cost.

If you want to go to a local hospital at 1/10 the price, the conditions will be 1/10 less as well. Still, in those less than sparkling rooms, you will find a brand new GE MRI unit and the cost to get the test is much less as you say.

A 10 day stay in a local hospital with a battery of tests will cost you RMB 3,500. And they will kick the other people out of the patients room and into the hallway if you are a foreigner so you can have a private room.

[krunkygirl]

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