Best Countries to Retire To: $1 Million Retirement Savings Could Last Up To 60 Years Abroad, Study Finds. In a recent analysis comparing the cost of living in 20 popular countries for retirees, a fascinating insight emerged: $1 million USD, a commonly recommended retirement savings amount, could last retirees anywhere from 14 to an astounding 60 years depending on their chosen location.
The research aimed to determine the longevity of such savings when considering a comfortable lifestyle overseas, factoring in expenses like housing, food, transportation, and general living costs.
The study revealed that relocating from a bustling city to a more tranquil town in the same country could potentially add between two to 10 years to the longevity of retirement savings. However, retirees must also factor in inflation, with the research accounting for a yearly rate of 5%. The study interestingly notes that a slight increase in the inflation rate to 7% could cut retirement savings duration by two years in pricier nations and by five years in countries that are generally considered more affordable.
This illuminating research underscores the importance of considering not just how much one saves, but also where one plans to spend their retirement. With proper planning and strategic decisions, retirees can maximize the value of their savings and enjoy extended golden years in their dream destinations.
Title: Using Dividends To Build Wealth
Description: Using Dividends To Build Wealth: A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Learn nore about dividends on finStream TV.