Agrowing number of Americans claim to be thinking about retiring to a foreign country to stretch their savings, but financial planners who specialize in this field say it's not as easy as it looks. Americans thinking of becoming expatriates should first consider a host of potential issues.
While the exact number of Americans retiring abroad is difficult to ascertain, roughly 350,000 retirees who now receive Social Security benefits live in foreign countries, according to the Social Security Administration. That number is expected to grow, especially with Americans living longer and worrying about depleting their savings. According to Travel Market Report, an industry news service, up to 3.3 million baby boomers are considering retirement in a foreign country.
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