Thousands of American retirees are living out their golden years in a South American country the size of Colorado.
After International Living Magazine’s “Global Retirement Index” anointed Cuenca, Ecuador’s third largest city, as the top spot to retire in 2009, a great migration, or what some have nicknamed the “gringo invasion” began.
“Rather than sitting around waiting to die, we decided to do something different,” said 65-year-old Ernie Kinnard. “With the great medical care, cost of living, the weather, the people are wonderful – it’s a great place to be.”
But while this influx of people is considered by many to be a boost to the local economy, there is also growing concern that Americans are pricing out the locals and breeding culture clash.
Pensioner perks
For many retirees, the perks of life in Cuenca are too much to resist. For the 65-and-older set benefits include half-price water and electric bills, half-price tickets to cultural and sporting events, and sales tax refunds. Plus seniors can cut to the front of the line at the grocery store and the bank.
Ernie and his wife Jorie Kinnard, 60, call themselves “economic refugees.” Ernie lost his job and half his 401k in December 2008 during the financial crisis. With the value of their home in free-fall, the Kinnards decided to leave Cumming, Ga. for Cuenca.
“Since we’ve moved here, I don’t think there’s a week that’s gone by where I haven’t…
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