“Kathleen, I am a long-time subscriber and in fact invested with Lief in an ill-fated real estate project in Uruguay in 2007, just before the crash. I am interested in talking to people who can tell me what is happening in Costa Rica and Panama and other countries with Americans who retired there and then later became so infirm in their old age that they needed full-time care. Are there assisted living homes cropping up? Are people moving back to the States for end-of-life care or to move in with their own families?
“New York Times reporter Jane Gross reports a mass re-migration of retirees from Florida back to the northeast for the end of their lives. Are you seeing any of that?”
–Tony P., United States
Yes, we are seeing this. People do move back to the United States or wherever else they may have originally moved from when they become sick or unable to care for themselves. We have readers from Panama who did this just last month. They had been living happily in Panama for several years. Then the husband had a series of strokes, and the wife couldn’t care for him on her own and decided she felt more comfortable returning to the States.
That said, yes, we are also seeing more assisted living and care homes popping up in Latin America as the historic tradition of family taking care of their elderly becomes less viable in the modern age.
In Medellín, Colombia, for example, several development groups are building assisted living facilities that are of a very high standard but a fraction the cost of similar facilities in the United States.
Another option that can be very affordable in Latin America is to hire in-home nursing care. Qualified full-time nurses earn less than US$1,000 per month in many countries. Even if you need around-the-clock care, the cost of three full-time nurses working in shifts would be less than the cost of a nursing home facility in the United States.
Continue Reading: How To Retire Overseas And Launch Your New Life, Step 1