To retire in Uruguay may seem like a strange notion, but as this article will prove, there are actually quite a few advantages. Due to the alarming state of the US social security system and increasing living costs, many people approaching retirement age are considering retirement in foreign countries. While the obvious advantage to this strategy is an exotic new location for your golden years, much lower cost of living and lower taxes help to make the case. While increased distance from family and friends is a potential disadvantage, cheap and efficient travel and communications go a long way toward reducing these concerns.
Natural Beauty is One Good Reason To Retire In Uruguay
More and more Americans are looking to Uruguay as a great place to retire for several reasons. Nestled in between Brazil and Argentina, this small country offers an idyllic climate that is not too hot, nor too cold.
Moreover, there are mountains, beaches, deserts and forests here as well as an incredible diversity of plant and animal life.
Although expats in Uruguay might miss the familiar landmarks of home, they will surely be compensated by Uruguay’s wealth of natural wonders. To retire here means instant access to all of the strange and magnificent wonders of South America. The continent’s largest waterfall is nearby as well as the vast Chaco desert and lots of temperate Atlantic rainforest. The vibrant culture of Brazil is easily accessible here, as well the best steak on the planet and Tango from Argentina. Add to this picture beautiful white sand beaches, and it is easy to see why so many Americans are thinking of relocating in Uruguay.
Incredibly Low Cost of Living, A Great Way to Retire Here
While all of these considerations are important, perhaps the most convincing argument is financial. A recent report states that a small apartment in Montevideo can be purchased for around $30,000 and a full house outside of town for even less. At these prices, a tight budget at home becomes a king’s ransom in Uruguay. Perhaps the best reason to retire in Uruguay is that the country charges no income or sales tax, meaning that the real value of your retirement savings grows significantly.
Health care is an important issue for retirees. In Uruguay, there is a free universal health care system for residents. There is some concern that public hospitals are under funded and under staffed, however. As a result, many retirees choose to buy a private plan with a specific hospital or insurance provider. Private hospital plans generally cost between $50 and $90 per month and include your choice of personal doctor and competent care.
For those with special needs, many insurance providers offer even more comprehensive plans costing between $90 and $260 per month. Prescription drugs in Uruguay are also much cheaper that in the US and can often be obtained over the counter.
The combination of an excellent climate, natural beauty, a tax shelter economy, and modern conveniences make it very attractive to retire in Uruguay. Because international travel is so routine in this day and age, it makes a lot of sense to consider retirement locations farther afield.
Besides enjoying a wealth of new experiences, retirees can double or triple the value of their retirement budget so that they can spend their golden years traveling and relaxing, not pinching pennies.
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