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By Elayne Fluker | Published August 2, 2011 | Full size is 620 × 480 pixels

EXPLORE MOVING OVERSEAS Let’s face it: the cost of living in the U.S. has climbed dramatically in recent decades. Everything from home prices and property taxes to insurance expenses and healthcare costs threaten to erode the finances of the typical American retiree. No wonder scores of money-savvy individuals in their 40s, 50s and 60s are waking up to the economic and lifestyle opportunities that beckon in far flung---and cheaper---destinations around the globe. For example, Mexico and Latin American countries such as Panama and Costa Rica routinely rank among the most affordable retirement destinations worldwide, according to International Living magazine. Retire to one of these places and your cost of living could be a tiny fraction of what you’d have to pay to live in the United States.

EXPLORE MOVING OVERSEAS Let’s face it: the cost of living in the U.S. has climbed…

Couple looking at travel brochure