Belize: Why Is It Becoming Popular With Baby Boomers?
Baby boomers form a large chunk of all retirees in the USA. They have grown up amid luxuries that were unthinkable even a generation ago. But, unfortunately, for these 77 million retirees or would-be retirees, the future does not look that rosy! The reason is that, for the last couple of years, the economy of America has seen a downward spiral and real estate as well as the stock market has taken a beating. As life expectancy of baby boomers grows more promising all the time, many of them are worried that they won’t have enough financial assets to retire comfortably. This worrying is not baseless; studies by Ernst and Young have shown that nearly 60% of them will have to drastically alter their lifestyle if they want to live comfortably for the next 20 or 30 years after their retirement!
That is why it is becoming a growing trend among American retirees to move to Belize post retirement. There are many reasons for this migration, but the most important is that they can enjoy a decent standard of living for much less than they would have to pay in the States. They can live quite comfortably even if their pension is small. Belize real estate is affordable and Belize property taxes are negligible.
So, many people are researching Belize – from online as well as offline sources. It has always been seen as exotic location that is perfect for a beautiful and memorable holiday; but now people are waking up to the fact that they can have a beautiful lifestyle in Belize as well. While once viewed as an adventurous location for Americans who loved to travel, it is now home to people who are ready to make changes in their thinking and lifestyle to accommodate themselves in their new adopted country. They know that they may not get as good services as they had in their own country or go to their favorite coffee shop, but they are ready to make the adjustments and Belize is also changing fast to live up to their expectations.
Belize developers have taken note of the fact that retirees from America are keenly interested in moving to Belize. That is why retirement communities built just for them are springing up all over the country. In fact, it is not just the Americans who are getting ready to move here; people from the UK and Europe are also becoming aware of how comfortable it is to live their retirement years in Belize due to its low taxes and low cost of living! But Americans are way ahead of the game; they were the first to realize that their pensions are not going to get them the decent lifestyle to which they are accustomed, in their home country, in the coming years.
It is not just the new expats who are ready to make changes; the country of Belize is also undergoing changes in its infrastructure. Amenities are being bettered, incentives are given to foreigners who settle here and facilities are being built to welcome them all the more.
Now let’s see how Belize is welcoming foreigners in the country. Firstly, there is a retired person’s incentive program under which those who qualify can have a 100% tax-free life in Belize. Furthermore, they can bring their cars and even household goods into the country without any kind of tax. Furthermore, both property prices and cost of living are low in Belize. Lastly, Belize was a British colony; English is the main language here and so expats from USA and other English-speaking countries have no problem adjusting to their new life! You can live like a king with a modest income in Belize.