Millions and millions of baby boomers are looking forward to a comfortable retirement where they can relax all day and just sit back and live on their pension and retirement savings in one of the best places to retire. This dream may not become a reality for most people unless they start saving much more for retirement than they have been. This article will cover a few points about what you need to do to retire to some of the world’s best places.

The Employee Benefit Research Institute is a leading organization that promotes the understanding of employee benefits. You can read more about the EBRI’s work at http://www.ebri.com/. They conduct surveys of employees and employers and report those findings. One of their main areas of study is pensions and retirement savings. In their latest survey, they reported that almost 50 percent of workers’ retirement savings is less than $25,000. And of that half, 70 percent of them have total assets of less than $10,000. So half of American workers have less than $25,000 saved for retirement and 35 percent have saved less than $10,000. This comes at a time when the average life expectancy is increasing every year as modern medicine and technology aid in longer living.

How can $25,000 in retirement savings take care of you for 20 to 30 retirement years? It is just not possible. And Social Security may or may not be there for all the baby boomers either. It can supplement retirement savings and investments but it cannot replace your pre-retirement income.

So what is a retiree to do?

So if your savings and pension is not going to fully support you, what can you do? You can keep working well into your retirement years to stay afloat. You can sell your house and downgrade to a smaller one or move to a less expensive location. Another option is you can move overseas or to Mexico and Latin America. Mexico, Costa Rica, and Panama are some of the inexpensive locations someone with limited savings can relocate to. They are also home to some of the best places to retire. The dollar is strong in those countries and the standard of living is rapidly increasing and is becoming comparable to the United States.

Even if retiring overseas is a possibility, you need to save much more than $25,000 to have a comfortable retirement. Taking on a second job or starting an internet business or even selling on Ebay can all be viable options to help you supplement your income before you retire. You can have the dream you’ve always wished for. Keep on working for it and start saving a little bit more.

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