If you’ve been racking your brain about where to retire on a budget, it might be time to think outside the U.S.
A new report by International Living, which publishes information about living abroad, lists destinations where you can coast on less than $30,000 a year. To be sure, retiring in a new country will require studying up on the tax implications along with pulling off some other logistical maneuvering. But for many older Americans the work will be well worth finding a new, affordable place to spend their golden years.
The average monthly Social Security check is $1,404, and more than 40% of single adults receive more than 90% of their income from that check, according to the government.
CIMA McGowan Group Asset Management, Inc. President & Senior Portfolio Manager, Spencer McGowan, joined Doug to talk about specifics!