Retirees are reportedly leaving the U.S. and moving to other countries to live an upper-class life for less money. Baby boomers who are unprepared for retirement are flocking to Canada, Mexico, Colombia, the Dominican Republic and Ecuador to stretch their money further, the Miami Herald reported.
One ex-pat couple interviewed explained that they could live a more luxurious lifestyle compared to the U.S., dining in restaurants and traveling for around $1,500 a month. Mexico and some Central American countries are actually trying to make it easier for seniors to become U.S. ex-pats so they bring their pensions along with them.
Doc Thompson, Kari Malinak and Kal Elsebai debated whether or not they’d be willing to give up American freedoms to live more luxuriously abroad on Tuesday’s “Pat & Stu.”
“You can say, ‘I can live a much better lifestyle, but I have to be in a foreign country, and these safeties, securities, protections, freedoms [in America] don’t come with it,’” Doc explained.
Kal Elsebai talked about his experience living in Dubai for a year. Working in radio, he had to be careful not to criticize certain public figures and to avoid particular topics.