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Whether you plan to lounge under a palm tree on a white sandy beach alongside a turquoise Caribbean bay where maybe you’ll go snorkeling later, or you expect to sip a noisette at a Parisian café before bustling for bargains at Left Bank boutiques, you’ll need money for your overseas retirement.
Social Security checks, which average about $1,400 a month, may cover necessities while living among locals in low-cost locales in, say, Ecuador, Mexico or Malaysia, but you’ll need more if you favor the high life in favorite expat enclaves, experts say.
“Ask yourself, do you need to make a living or just earn side money,” said Kathleen Peddicord, who wrote the book “How to Retire Overseas: Everything You Need to Know to Live Well (For Less) Abroad” and heads the publishing group Live and Invest Overseas.
These 12 tips from Peddicord and others will help you fund your retirement abroad, whether you’re eager to go now or planning ahead for your golden years.