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Boomers: How Is Your Ship Surviving Our Current Sea of Economic Stress? Are You Looking for a New Job, Moving In With Family, Planning an Expat Lifestyle? Or Sailing Ahead?

Has Economic Stress Beached Your Plans?

“Ahoy There,” “Hola,” “Aloha” and “Permission to Come Aboard,” Fellow Baby Boomers!

All apologies for the fact that this blog has been “beached” for a couple of months now. The good news is, we’re about to set sail again!

Hopefully You Didn’t Think We’d Gone “Off the Radar.” Or Fallen Off the Face of the Earth…

Actually, the state of the “Boomer Lifestyle” blog ship is sound and all aboard are well! Fact is, we have been off exploring, seeking ways to better serve you.

The good news is that despite months of news stories telling you of the world’s challenges related to huge global economic stress,  there’s been lots of great stuff floating through the blogosphere, as well as the world at large, and we’ve been busy checking it out on your behalf…

Here’s how you can help assure that we’re providing you with EXACTLY what you need to continue to succeed in these turbulent economic times:

Take the Boomer Lifestyle Poll: It’s Both Quick and Painless

Historically, Boomers have had it good financially for quite awhile now. So we’d love to know how you feel you’ve been handling our country’s current levels of economic stress.  We thought we’d ask you — which is why we’ve developed our poll.

It’s just one quick question with multiple choice answers, so it will take you mere seconds to answer. The simple question is:

“As a Baby Boomer nearing retirement age, how has our recent global economic downturn affected your future life and plans?”

The potential responses ranging from the most positive  to the most stressed.

Specifically, you can vote for any one of the options noted below.

(NOTE: The parenthetical comments aren’t part of the official poll responses, they’re just here to focus and augment your thinking as to whether that point is your preferred response) :

  • No change, life is great, thank you very much. (Everything is on target for retirement as planned, and we’re looking forward to years of smooth sailing and great adventures.)
  • I can’t afford to retire, will have to keep working for the foreseeable future. (And you’re saying, “Damn, working until I die sure wasn’t what I had planned as the capstone of my career.”)
  • I’m currently looking for a second job. (If you’re selecting this answer perhaps you’ve heard that there’s a growing market for Baby Boomers as temporary hires, due to the experience Boomers can bring to the table…)
  • I am giving serious thought to retiring abroad. (If you’re thinking of living the expat lifestyle, you’re probably aware that the cost of living is often less, and those who’re doing it tell you that in certain countries it’s possible for you to live well on just your social security check. But you need to know WHERE those places are…)
  • I’m starting a new online business, to recoup our lost funds. (Perhaps your plan is develop your own economic stimulus package by writing a book based on your life knowledge, and market it online. If so, you’ll want to read the great post we have coming up on that topic!)
  • I’m starting a new offline business to recoup our lost funds. (Self-employment is a solid option, but you’ll want to invest in a business coach or other support system. After all, there’s no time left for mistakes…)
  • I’m moving in with my kids to help save money all around. (You’re thinking that this is what your parents and grandparents  did during the Great Depression, and it worked for them.)
  • I’m paralyzed with fear, don’t know where to turn. (You may not realize that you’re having trouble handling the stress. But if you’re eating poorly, napping excessively, drinking or smoking more than usual, or having trouble sleeping, these are warning signs you need to address. In order to get your ship afloat again, you might want to get some help with learning relaxation techniques, adopting a healthy mindset and developing stress management skills.)

Don’t Wait! You Only Have Until June 12th 2009 to Cast Your Vote.

All you need to do is click on the link below, to quickly send your answer to this single question survey.

This is not a test, it’s  a survey. Which means there is no one right answer. It’s simply an attempt to (albeit unscientifically) take the pulse of Boomer Lifestyle readers, to find out how you’re handling the financial challenges the current economy brings us.

The options you’ll find for your response are based on solutions we’re hearing about by watching the media, and reading your stories online. We know that each of the responses represents a percentage of you – we just don’t know — YET — how many of you have opted for each of these solutions. But after June 12th, we’ll tally up the responses and write a blog post analyzing your responses.

Should be quite interesting…

Of Course, We’d Love to Hear From You, Personally.

It’d Be Fantastic If You’d Share Your Story With Our Readers

If you’re game, feel free to post a comment here on the blog, telling your story… We’d especially love to hear any personal stories you’d like to share.

But Don’t Forget to Vote! Now!!

Here’s where to click to participate in the poll’s single question:

Please click to vote

What’s Next?

Once your vote and the others we receive are tallied, we’ll  post our findings.

Early poll returns show 60% of you selecting the “paralyzed with fear” option, which is distressing. But perhaps not surprising. It’s early yet in this recession, and people are still finding their way out of it…

We Have Posts in the Works on Solutions to Assure You Continue to Enjoy a Vibrant Boomer Lifestyle.

They include topics like:

  • How to write a book based on your life experience and knowledge  – and better yet – how to market it successfully
  • What to look for in selecting a foreign country as your future residence – full or part time
  • How to market yourself so that you can find a job without being penalized for your age
  • How why and when to start and operate a (profitable) online business
  • How to make money from a hobby business
  • And loads more of the lifestyle posts you love, on topics like healthy living despite health challenges, vacationing with your grandchildren, helping a parent coping with Alzheimers, dating, recipes and Boomer fun. Even a fun and entertaining post on creative trends in Boomer funeral planning. (Really!)

You know, this is all great stuff you’ll want to read as soon as it’s posted. Why not subscribe to our RSS feed, or go to the top of this page to sign up for our email list, to assure that you don’t miss a single post!

Stay cool! The tide’s rising to meet you!

Have You Ever Seriously Considered the “Expat Lifestyle” – You Know, Daydreamed of What It Might Be Like to Live, Work Or Perhaps Actually Retire Overseas?

Wonder What It Takes To Retire Overseas? Yes You Can!

Do You Sometimes Have the Feeling That You Really Need to “Get Away From It All,” As In Take a Break From the World As You Currently Know It?

You know: you aren’t just dreaming of taking an extended vacation to some exotic locale, but you actually find yourself fantasizing about what it might be like to take up permanent – or semi-permanent – residence in another country? 

Like that couple you might have recently read about, who decided to escape the rat race and retire abroad before they were even 40: They sold everything they owned, raised $500,000 and moved to an island in the Caribbean, where they’ve been “living happily ever” after for the last 18 years… and living like royalty, to boot! 

Perhaps you, too, have wondered what it might be like to retire overseas: to trade in your expensive, traffic-clogged life for a quieter, more affordable one. 

  • Maybe you’ve imagined yourself on on a verdant, mountainous Caribbean island where you might find lush views out every window and sand crabs meandering across the roads.
  • Then again, maybe you’ve seen yourself in somewhat more urban surroundings, perhaps dining on a fabulous three-course dinner with abundant wine, while attentive waiters linger nearby awaiting your next request. Could this be Paris? Or maybe you’re in Buenos Aires?
  • Or perhaps you were so taken by the exotic scenery in the “Lord of the Rings” movies, that you like to imagine yourself riding horseback in the wilds of New Zealand?

No matter which is your dream, your getaway vision always involves somehow transporting yourself to entirely new and exotic surroundings:

  • Sort of like Hemingway did decades ago, when he moved his authoring operations to Spain, land of bullfighting and sport fishing.  
  • Or maybe like what the Danish author, Isak Dinesen, did when she moved to Africa. (Remember, her story, chronicled in “Out of Africa,” begins: I had a farm in Africa at the foot of the Ngong Hills…”   (What Boomer woman doesn’t remember the scene in the movie where Robert Redford helps Meryl Streep shampoo her hair while they’re out on safari… )
  • Then again, maybe your vision is more like that of poet, cook and travel writer Frances Mayes, the real-life person whose story of buying a house in a foreign country was so well portrayed by Diane Lane in the movie, Under the Tuscan Sun. 

Keep Reading If You’ve Ever Screamed, “Stop the World, I Want to Get Off.”

Moving – or even retiring – overseas is no longer a radical notion. More and more, Baby Boomers are looking into retiring offshore in an effort the get the most from their retirement dollars, while having the adventure of a lifetime.  Actually, Americans are choosing to emigrate for a variety of excellent reasons:

  • Adventure – what’s more adventurous than leaving behind life as you know it for a new one in an exotic locale?
  • A better climate – maybe you’ve had it with snow shovels, now you’re looking for unending days and nights of temperate tropical breezes
  • Lower cost of living – your retirement savings can afford you a better lifestyle than you would be able to achieve in the US
  • Financial freedom – a way to sidestep recession. Living offshore can mean you can “retire rich” on a middle class budget, never outlive your nestegg
  • Investment opportunities  – an opportunity to grow your investments tax-free or tax-deferred
  • Healthier lifestyle – a way to live better, healthier, and with less stress

Of course, Boomers aren’t just dreaming of basking in the sun on those beaches of the world: we’re talking “retirement” in loose terms here. Let’s focus on how you might have imagined yourself living very affordably overseas while you generated a nice side income for yourself by doing something you love, like:

  • Running a small restaurant on the beach
  • Operating a beachside dive shop, renting out your yacht while you and your spouse serve as crew or giving surfing lessons
  • Exporting local handicrafts back to the US or elsewhere
  • Working long distance for your current US employer
  • Running your own company, via your mobile “laptop office”

Which Countries Offer the Best Living and Investment Options for Potential Expats? 

The fact is, thousands of Baby Boomers are finding themselves dreaming of living a life of retired splendor in another country — and many of them are doing more than just dreaming about what it might be like to retire abroad – they’re actually taking action. You’ve probably even had friends who spoke to you in glowing terms about the benefits of retiring permanently in an exotic-sounding county like:

  • Argentina – Think European-style living at a fraction of the cost
  • Croatia – Sun-kissed islands, great sailing, temperate climate: The best of traditional Europe…Non-traditional prices
  • Dominican Republic – An extremely affordable Caribbean lifestyle, and several large expat communities
  • Italy – Tuscany may be calling, but if you’re American, Canadian or Australian, you don’t have the right to work or live in Italy. So this one is a tougher call
  • Malaysia – If you ever considered Asia, it’s easy to buy property here and they have a “Malaysia My Second Home” program for expats
  • New Zealand – Tight immigration laws, wide range of climates, but English-speaking, and oh! the scenery
  • Nicaragua- Stunning natural surroundings and more afforable than Costa Rica 
  • Panama – Many expats say the this is still the world’s best retirement option. Find out why – and if you agree
  • Poland– Great scenery, growing economy, newer member of the EU, tourism is rising, and there’s a lot of foreign investment
  • The Philippines – Another great Asian opportunity with the economy recovering well, but land ownership laws aren’t as welcoming
  • Uruguay – Some say moving here is like rediscovering the good life of 1950s small town America

Then again, maybe you were wowed by the scenery when you watched the recent Olympics and you’re thinking of moving to China. Obviously, an emerging superpower, China is expected to become the world’s largest exporter by 2010, so there are great investment opportunities here.

More potential financial opportunity comes from their growing tourist economy. Maybe you imagine yourself setting up shop as a travel writer, photographer, importer or consultant

Of course, since it’s still a Communist country you can’t own Chinese real estate outright; but you can buy a 70-year leasehold option on property.

Most likely you’ll agree this country has to be categorized as an opportunity only the most adventurous will choose! 
 

Look Before You Leap: Doing Your Research

Obviously there’s a world of exciting options out there – literally something for everyone. But whatever your reasons for leaving your current lifestyle behind, it’s always best to investigate as much as possible in advance.

Before you sell your home and kiss the grandkids goodbye, you need to do your homework. You absolutely must learn everything you can about the countries you’re interested in.

Experts advise the best thing to do is start with research, and then visit the country you’re interested in several times as a tourist, ideally visiting during different seasons of the year.

These Are Probably the Most Crucial Topics You Need to Research:

  • Climate
  • Crime
  • Cost of living
  • Healthcare
  • Insurance
  • Taxes
  • Residency requirements
  • Visa and other documentation requirements
  • Local laws regarding work and foreign property ownership
  • Rules regarding taking your important “stuff” with you: furniture, cars, PETS

How-To Advice to Retire Overseas From Someone Who Actually Did It 

Jacqueline D. Brown, who currently has a show on public access TV in Los Angeles called “Southern Latitudes,” dreamed of living on a tropical island, and moved to the Fiji Islands for a year that turned into five. Prior to that, she lived in South Korea for a couple of years, teaching English as a Second Language (ESL). 

On her return to the US, many people asked her how she did it: How was she able to give up everything and move to a place she barely knew?  To answer, she drew up the following her list of ten steps you must take before you decide to move abroad, no matter where you want to go:

10 Steps To Move Abroad, Wherever You Wish to Go:

  1. Ask yourself, whether or not this something you really want to or can do? Talk is cheap. Can you really give up your friends and move thousands of miles away to a place where there’s limited television and yours is the only cell phone around?
  2. Pick a place. It’s important to choose the right place. If you’ve always wanted an ocean view, this is your chance. Or if only the hustle and bustle of city life satisfies you, expect to find it only on a smaller, more manageable scale. Be honest with yourself about what you want. Do your research.
  3. Decide on a moving date. It’s best to have a definite date for your move. This way you are working toward a goal that is realistic and tangible.
  4. Determine how you are going. If you just can’t leave your things behind, renting a container on a freighter is best. You can accompany your things or fly days later when they are expected to arrive.
  5. Do your research. Contact the tourist board or embassy to ascertain residency requirements. Currently in Fiji, you can only stay as a tourist for 90 days but can return the next day for 90 more. Do you need a Visa? Start the process three to six months before you go.
  6. Simplify your life. Clean out your closets and give away or sell things you don’t need or can get there. If you plan to work, take original diplomas. I had a copy of mine but that was unacceptable when I was offered a teaching position.
  7. Maintain your health. Depending on where you are going, the medicine and dental care may not be what you are used to. Get a complete physical, your needed shots, and a dental checkup. Do you have enough medicine? Take enough to last until you find a doctor. Can you order medicines online?
  8. Use the Internet. Here you can find land or houses for sale. Also, if you read the local newspaper online, you can get a feel for the place: food cost, apartment rent, weather. The State Department’s web site will tell you if there are any warnings or problems in the area.
  9. Cut emotional ties. It’s said that if you can make it past the first six months in a foreign country, you will probably stay. After the newness and excitement wears off and reality sets in you’ll find yourself alone without family or friends. This is now your home. You can’t click open your cell phone and call back to your former home every day. My relatives and friends cried when I was leaving for the airport. But I had made up my mind. Although I would miss them, I wanted a new life, a new adventure. Once settled in your new home get to know your neighbors. Hang out with expats also. You’ll appreciate talking to someone with a similar background who will understand what you are saying without your having to give a long explanation.
  10. Make a checklist. Make a list of everything you are selling and everything you are taking, including your tickets and passport. As each thing is done, check it off. I made a list of things I was selling: furniture, appliances, books, some clothes. I took the list to work, made copies, and passed it around. My co-workers picked what they wanted and put it on layaway with me. Just before I left, they paid and picked up their goods.

Some Good Online Resources to Help You Get Your Research Started Are:

Fascinated By the Possibilities in What You’re Reading?

Look for another post on living the expatriate lifestyle coming soon. There’s just too much to cover in just one post! 

Next up:

  • How hard it sit to take your car? What about moving your furniture?
  • How long does it take to get the necessary visas?
  • How do you handle prescriptions and health insurance?
  • Can you really do this?