Retiring Overseas
Lubitz Boone said many people dream of moving to a tropical climate, but they need to ask themselves whether they like the change of seasons. "If you do, retiring to Costa Rica probably shouldn't be on the top of your list because it's about 75 all the time," she noted.
Also, if a client gets annoyed by slow Internet connections, moving to a place with a poor Internet system may not be ideal, she said. Electricity can be more unreliable in many other countries, so checking out the frequency of outages would be a good idea, not only for tech savvy individuals but also for those afraid of the dark, she said.
One question most clients might not have considered is "Do you want to live on a dirt road?" Lubitz Boone said a lot of gated commuities in Latin America have paved roads in the community, but residents have to drive on dirt roads to get to the entrance.
Some clients also have routines, like watching NFL games every Sunday afternoon, that probably won't be on local cable channels overseas. Would they be unhappy if they can't see the games?
Tax structures also need to be investigated and can be very different in other countries. Some places might have lower taxes, but in others pensions might be taxed at higher rates, she said.
Some of the "best" places to retire overseas? Panama, Costa Rica, Uruguay, Thailand and Malaysia, she says, because of their affordability or other benefits.
Staying Put
The third option for clients is what the majority want: to stay at home. That may work the best for most people, but being familiar with senior resources in your own home town can make life easier. One organization Lubitz Boone recommended is ageinplace.org, which has chapters nationwide and offers resources to help people stay in their homes. Another help, she said, is an aging-in-place remodeling checklist from the National Association of Homebuilders.