Living in Ecuador is becoming more popular with retirees. Why is that? Ecuador is one of the cheapest places to live in a country that is generally safe and has a very good quality of life.
Baby boomers have not prepared well financially for retirement…a recent study by Del Webb showed that 72% of baby boomers planned to work after retirement. Reasons vary from low interest rates on savings, poor stock market performance, and high credit card debt…whatever the reason the majority of baby boomers will be working after retirement.
How about those that will do anything to really retire? They are willing to explore lifestyles and locations that were not on their retirement radars previously. They wonder if their $1500 a month Social Security check alone will enable them to live comfortably.
These baby boomers above should consider Ecuador as a retirement location.
Baby boomers who retire in Ecuador will find that $1500 a month (or less) will enable them to retire and live very well there. Ecuador is a safe country, with good reliable infrastructure, the roads are fine, internet access is reliable, health care is inexpensive… and good and the people are warm and friendly. And… the official currency is the US dollar.
Cuenca, Ecuador was recently voted the best retirement city in the world by International Living magazine. The third largest city in Ecuador at 400,000 plus has only 700 expats living there so it has not caught on yet. At 8200 feet altitude, the weather is spring-like year round. It is a colonial city designated a World Heritage site by UNESCO. With a university, it is a vibrant city with many cultural attractions.
For the baby boomer wanting the beach, Manta is coming on as an Ecuadoran retirement destination as is Salinas to the south. You can buy a condominium on the beach for less than $100,000. For big city life, Quito is very cosmopolitan and sophisticated. With low real estate prices, two homes are in the reach of many.
For baby boomers that think they do not have enough money to retire; countries like Ecuador will change their thinking. Boomers can retire in Ecuador and live well on a Social security check alone.
Source: Gary Pierce