How to save money by retiring overseas: advice from an expert

lower food costs by retiring overseas
lower food costs by retiring overseas

So your 401K has been hammered and you'll have to work to the age of 100 to afford retirement? Not necessarily, according to Kathleen Peddicord, an expert on retiring to less expensive places outside the U.S. There are, she told me, spots only a few hours of plane time south of the U.S. where an American could find a lifestyle much like at home for only $1,200 - $1,500 a month. If you're willing to 'go native', you could "live very well for under $1,000".

Peddicord, author of the new book How To Retire Overseas, now lives in one such place, Panama City, Panama. She told me in a phone interview that, while not the bargain it once was, lodging, food, utilities and medical care are up to U.S. standards there, yet far less expensive.