A 65-YEAR-OLD has revealed how she lives by the beach despite having no retirement or full-time job.
Janet Blaser was not able to save up a nest egg but lives the high life on her Social Security payments.
Like many Americans, Janet found it hard to save up a sizable retirement fund in her 401k or Roth IRA.
But at age 65, she lives almost entirely off her Social Security payments.
Thanks to her clever move, she can afford a two-bedroom apartment right on the beach, despite her incredibly modest income.
At the age of 50, Janet decided to move from California to Mazatlán, Mexico.
She pays just $425 a month for her two-bedroom apartment, which is located just half a minute from the beach.
Her monthly income is between $1,200 and $1,400 a month.
Most of that comes from her Social Security checks.
On the side, she earns a little income from writing the occasional article and royalties on previous things she wrote.
“I think we all wanna be happy,” said Janet.
“Unfortunately, what they tell you in the US, the money you need to retire on, this many millions or this many $100,000s a year – I am a living example, you don’t need that to be happy.”
OUTTA HERE
Americans can still collect any Social Security benefits they are eligible for even if they leave the US.
Over half a million Social Security recipients live overseas, often in countries where their money goes further.
Around 62,000 of these are in Mexico, according to Social Security data.
The Spanish-speaking country is popular for its proximity to the US and its low cost of living.
Portugal is another well-known destination for US expats, loved for its high quality of life and affordable prices.
However, you don’t need to leave the US if you want to retire with little money in the bank.
Dave Ramsey recently helped a 70-year-old with no retirement funds figure things out – turns out her car was the solution.
And another financial planner gave a 62-year-old couple two steps to wing their retirement with just $150,000.