As USretire, life expectancy data suggest the rapidly expanding retiree population has several decades ahead of it. Have they saved enough for their retirement? Financial analysts repeatedly warn that Americans don’t save enough for retirement, except they may indeed be saving enough for retirement, if they retired to India.
Could a First World retiree in a Third World retirement village be a match made in heaven? Would US retirees even consider retiring in India?
Why India? Plenty of English-speaking people. A young country. More than 50% of India’s enormous population is below the age of 25. That implies a service sector with plenty of physically capable English-speaking youth to staff retirement communities. With those mushrooming in India these days, it’s a recognized service sector with the infrastructure that entails. US is already familiar with the concept of medical tourism, and India is a recognized medical tourism destination (). Much lower cost of living ( ). A dollar that couldn’t buy one nutritious meal in the US could certainly do so in India. The mighty dollar would not only command a decent standard of life in India but stretch out much longer. Factors likely to render the prospect of retiring to India less outlandish than would otherwise be the case.
The cons. Are there many or any American retirees willing to relocate to India? How to identify and reach out to such? Maybe start with those who have visited India more than once as tourists, i.e. enjoyed their time there? Legal ramifications? Dual citizenship isn’t currently possible so expatriate issues. Cultural differences. Food, noise, traffic, hygiene, hospitals. Location. Maybe smaller cities, “hill stations”? Potential staff need to be trained on cultural differences in addition to their standard responsibilities. These are not insurmountable obstacles. India already has or is developingstyle retirement communities. For this idea, they merely need to be US-adapted. So what about it, US and India? By bringing together disparate cultures in this win-win manner, don’t we increase the scope for global warming of the healthful kind? A practical purpose with potentially priceless intangibles. Is this meeting of the hearts and minds do-able? It certainly seems possible. Any entrepreneurs out there willing to give this a whirl?
Post by Tirumalai Kamala:
Global Warming of the Healthful Kind