Retiring overseas
- Thread starter MrHotDice
- Start date
Yes. I'd retire in Italy. Some village on the Mediterranean coast. Sure beats central Florida.
This post was edited on 3/3 8:16 AM by BigBlue1121
This post was edited on 3/3 8:16 AM by BigBlue1121
Not just in Asia. Lots are retiring to Caribbean places like Costa Rica......or Europe. You can do your banking online just about anywhere in the world.
I certainly would consider it, however I don't know how far I would want to move away from my family.
I certainly would consider it, however I don't know how far I would want to move away from my family.
I heard Costa Rica is a popular place to retire. Europe would not be bad but, taxes will kill you. Need to make sure you have a good nest egg.
I knew a guy who retired to St Thomas. Said that he's living like a king and for about 1/4th the cost that he would've had in Texas.
My father was recently in Quenca Ecuador. He said it was absolutely beautiful and there are a lot of Americans retiring there.
It is a beautiful and safe city with a large American feel to it. And the exchange rate is very nice.
I definitely want to check it out.
It is a beautiful and safe city with a large American feel to it. And the exchange rate is very nice.
I definitely want to check it out.
I'm pretty sure I'm going to - from a climate and cost of living stand point. I have about 20 more years ahead of me to build up my nest egg and then plan on where I want to go
Unless something happens here in the states between now and then, I'm not going to dump all my retirement money on health care and property taxes
I think it's a viable alternative except not sure how far removed from my kids/grandkids (if I have any g-kids) I will want to be for an extended period. I can see living abroad for 5-10 years in retirement, anyway. Certainly much cheaper than US and, depending on where you settle, many places have US-educated doctors so that shouldn't be much of a worry. Safety would be my #1 worry, although many US cities are not all that safe, either.
The concerns I would have would be the quality and accessibility of medical care, the ability watch my favorite sports programing, the ability to find the type of food I'm use to in restaurants and grocery stores. Also ordering any products from US based supplies results in high shipping fees and sometimes VAT taxes etc. Besides all that I'm not sure I would feel comfortable living with people with different social, cultural and heritage backgrounds and not being in the good ole USA any longer.
If I were to move off shore I would probably look hard at Belize
If I were to move off shore I would probably look hard at Belize
you won't be alone as Americans look to find cheaper alternatives to retirement.
Those challenges will probably be met, for example, I believe I read on here earlier how the Social Security office had opened in Manila because of so many Americans.
Those challenges will probably be met, for example, I believe I read on here earlier how the Social Security office had opened in Manila because of so many Americans.
I've traveled a bit and never came home thinking, "Man the US sucks. I'd rather be an old foreigner in that country I just visited."
Good riddance, un-Americans.
Good riddance, un-Americans.
I think this is a dream many people have. Some try it, but for many it doesn't work out. The loss of that which is familiar and the separation from family and friends eventually gets to many of them and they return.
Deee. If you research this you would see that most if not all your concerns are alleviated. Healthcare, for one, is better in most countries that the US. This is something I have researched a lot over the last couple years. I have a friend who is a tax account in the Cayman Islands. He has lived there 19 yrs and I went down last year and visited him. He said he didn't think he would ever move back to the states, although he flies back often to visit friends and relatives and work related events. He lives in a beautiful home right on the beach that he paid $225K for three years ago.
Panama is becoming a hotbed for retirees in Central America and Belize is building a lot homes to cater to expats. Costa Rica has a great number of expats that live close together in the same neighborhood and socialize quite often with each other. One expat said that one of his best friends that comes to cookouts etc. is the Chief of Police.
You really wouldn't have to give up the good ole USA altogether. With the money you save, you can fly back home a lot. One couple I read about lives in Costa Rica during the winter months and flies home in the summer where they keep a motor home and drives all around visiting folks and doing what they want.
I was in Nova Scotia a few years ago and the girl at the front desk at my hotel had never been to the USA. She said she was afraid to go because of all the drugs and violence. I laughed and explained what I could, but that is same way people are about Central America and other foreign lands.
One important piece of advice that is given by consultants about living abroad is rent the first year and see if you "stick". Stats show that the majority of folks that move to foreign countries move back after six months.
Panama is becoming a hotbed for retirees in Central America and Belize is building a lot homes to cater to expats. Costa Rica has a great number of expats that live close together in the same neighborhood and socialize quite often with each other. One expat said that one of his best friends that comes to cookouts etc. is the Chief of Police.
You really wouldn't have to give up the good ole USA altogether. With the money you save, you can fly back home a lot. One couple I read about lives in Costa Rica during the winter months and flies home in the summer where they keep a motor home and drives all around visiting folks and doing what they want.
I was in Nova Scotia a few years ago and the girl at the front desk at my hotel had never been to the USA. She said she was afraid to go because of all the drugs and violence. I laughed and explained what I could, but that is same way people are about Central America and other foreign lands.
One important piece of advice that is given by consultants about living abroad is rent the first year and see if you "stick". Stats show that the majority of folks that move to foreign countries move back after six months.
I can only speak for myself, but I've never said the US sucks.
Its just a matter of economics - I can live in an area where the climate is agreeable (excluding the occasional hurricane) and the cost of living means I can have a nice bungalow and live off my earnings comfortably - maybe even have a housekeeper.
Plus, the internet and satellite makes the world a smaller place.
Those other countries aren't unlike America in this regard - there are shitty places to live and there are nice places to live and the more money you have the better off you are.
The difference is, what may cost $50K a year in retirement to live in the U.S. costs only $12K a year there.
I could do the Caribbean, but once you venture down to Central America I feel like all bets are off. Costa Rica could vote to go all Communist and then you could lose whatever you don't have in an American bank account.
Why wouldn't you have your money in an American bank? Costa Rica isn't going communist, it's the most democratic nation outside of the US/Canada in this region.
CR is a place I'm looking at and hope to look for property when I'm down there next year. Thinking of doing an AirBNB deal renting it out until I'm ready to move down full time.
Good infrastructure, healthcare, lots of ex-pats and great weather. It's only a couple hours via plane from Houston. My only concern is making sure I can see the Cats.
Would love to retire in Europe but I don't think my income upon retirement would be worth it. Could live like a king in Costa Rica or a pauper in Italy.
Having lived overseas in 2 different countries, I've seen the extremes of both ends of the healthcare spectrum. Living abroad is great, but it has it's drawbacks. If you're on any kind of special medication, you need to make sure you can get it there and there is someone that can subscribe it for you if necessary. Do you have to pay up front for your healthcare? If you have to have major surgery such as a hip replacement or major reconstructive surgery, do they administer pain medicine. Not all countries do. Is there a reciprocal agreement with the US regarding emergency healthcare. Can you own land? Do you have to have your retirement check deposited directly at a bank in the country you're trying to reside in or can you leave your money in the US? What kind of reciprocal agreement is in place with the US regarding income taxes?
A lot of these things you don't think about until you actually have to deal wit them.
A lot of these things you don't think about until you actually have to deal wit them.
I first thought that I would retire to Ambergris Caye in Belize after I visited Belize. But reports are that the utilities (water and electricity) can shut off without warning had me looking for another.
Then I thought that I would retire to the high lands in Panama. Boquete, Panama was the location that I looked at with the high number of expats. But I am looking for some culture and Boquete looked like it was lacking.
Then, thought a friend, I was pointed to Ecuador. I've use International Living to help in my research. International Living has rated Ecuador as one of the top two or three countries to live in. Then within Ecuador, Quenca is a UNESCO heritage city about the size of Lexington. I was looking for a place with a moderate climate, culture, health care, and good public transportation, US dollar as the currency, and Quenca checks all the boxes. The only negative that I have is the language. I am now learning Spanish and hope to make my recon trip next summer.
The Best Places to Retire in the World 2015
This post was edited on 3/3 8:32 PM by CorbinCatFan
Then I thought that I would retire to the high lands in Panama. Boquete, Panama was the location that I looked at with the high number of expats. But I am looking for some culture and Boquete looked like it was lacking.
Then, thought a friend, I was pointed to Ecuador. I've use International Living to help in my research. International Living has rated Ecuador as one of the top two or three countries to live in. Then within Ecuador, Quenca is a UNESCO heritage city about the size of Lexington. I was looking for a place with a moderate climate, culture, health care, and good public transportation, US dollar as the currency, and Quenca checks all the boxes. The only negative that I have is the language. I am now learning Spanish and hope to make my recon trip next summer.
The Best Places to Retire in the World 2015
This post was edited on 3/3 8:32 PM by CorbinCatFan
Thanks for all the replies. very interesting
Just a couple of things. As far as health care, many asian countries let foreigners join in their health care system. Here in Taiwan me, my wife, and two kids pay a total of $100 dollars a month that also includes dental and any drugs prescribed. I buy a year's worth of blood pressure pills for what one month cost in the states with out having to see a doctor. Many doctors here were educated in USA so their is no language.
I have many friends living in the Philippines and most have foreign wives. In Asia, maids do all the work. A maid in Taiwan costs 500 a month and that is a live in maid that does everything. In the Philippines, you can have a maid, cook, and driver for 500. Us.
It makes it hard to return to usa when your health insurance is close to 800-1000 a month. Anyone with a small ss check should look into moving and any man single should move to the Philippines and find them a good women to take care of them.
America is not what it used to be and IMHO, USA is not for the old anymore.
Just a couple of things. As far as health care, many asian countries let foreigners join in their health care system. Here in Taiwan me, my wife, and two kids pay a total of $100 dollars a month that also includes dental and any drugs prescribed. I buy a year's worth of blood pressure pills for what one month cost in the states with out having to see a doctor. Many doctors here were educated in USA so their is no language.
I have many friends living in the Philippines and most have foreign wives. In Asia, maids do all the work. A maid in Taiwan costs 500 a month and that is a live in maid that does everything. In the Philippines, you can have a maid, cook, and driver for 500. Us.
It makes it hard to return to usa when your health insurance is close to 800-1000 a month. Anyone with a small ss check should look into moving and any man single should move to the Philippines and find them a good women to take care of them.
America is not what it used to be and IMHO, USA is not for the old anymore.
there would be many advantages for seniors to move - both for them and the United States.
if you live in an established community right now, if you have to vote for tax increases for schools, police, fire, whatever - the only thing that ever passes easily is the construction of retirement centers, etc because the elderly represent a huge voting block - and who can blame them? they have limited dollars.
People that are say 55 and older are looking at living on a fixed income , don't have children in school and don't want to see their taxes go up. They're living at a standard that was in place 20 years ago. At the same time you don't have to look far to realize they represent the biggest hit to health care in the nation.
With a mass migration of elderly moving to a country like the Philippines where they could live comfortably on a fixed income - it frees up the rest of the nation to address the cost specific problems like infrastructure and social services - while lowering the costs associated with the elderly.
Of course for that scenario to make a difference it would take huge number of people to move - and in turn that would raise the cost of living in those other countries as competition for housing, health care and domestic services shoots thru the roof.
This post was edited on 3/4 11:43 AM by TankedCat
if you live in an established community right now, if you have to vote for tax increases for schools, police, fire, whatever - the only thing that ever passes easily is the construction of retirement centers, etc because the elderly represent a huge voting block - and who can blame them? they have limited dollars.
People that are say 55 and older are looking at living on a fixed income , don't have children in school and don't want to see their taxes go up. They're living at a standard that was in place 20 years ago. At the same time you don't have to look far to realize they represent the biggest hit to health care in the nation.
With a mass migration of elderly moving to a country like the Philippines where they could live comfortably on a fixed income - it frees up the rest of the nation to address the cost specific problems like infrastructure and social services - while lowering the costs associated with the elderly.
Of course for that scenario to make a difference it would take huge number of people to move - and in turn that would raise the cost of living in those other countries as competition for housing, health care and domestic services shoots thru the roof.
This post was edited on 3/4 11:43 AM by TankedCat
I shouldn't have said "most" countries. Just quite a few. IIRC, there are about 11 countries that are rated higher in quality care.
I completely understand where you are coming from. I just returned from Korea after almost 3 years. While I really miss the food I never got the feeling it was home. I am here in South Carolina now and have never been to this part but being here about two months and still in a hotel I still feel I am home. Just cramped. (Waiting on our house.)
Things are geared toward health care in most foreign countries. Most doctors offices are sparse, no big screen TES, no leather furniture with a common sense approach. Also, most countries have some type of tort reform were a patient can sue for a simple mistake. It's true, health care is the us is great if you have expensive insurance but for the common man, things are different. A friend of mine, a retired marine was trying to get his teeth fixed and was told that what he needed was going to cost him over 30,000 dollars. Since his U.S. insurance paid 70%, he was still going to have to pay around 9000. He moved to the Philippines and had the entire dental work done by a dentist educated at southern cal for 5600 dollars.
The system in USA is criminal and is getting worse. When I lived in Las Vegas, I needed around 5000 dollars worth of dental work. When I moved to Taiwan, I received everything done for 350.00 and 4 doctor visits that cost 5.00 dollars a visit. IMHO, the legal system, doctors and drug companies, and apathy in USA is the reason their is a health care crisis .
One last thing. Here in Taiwan, their are no rest homes for old people. Here, the family of the old person just hires a health care worker from the Philippines or Indonesia and it costs around 500.00 a month for a 24 hour live in care taker. In America health care for the elderly is not near as important as if the persons social security was paid.
The system in USA is criminal and is getting worse. When I lived in Las Vegas, I needed around 5000 dollars worth of dental work. When I moved to Taiwan, I received everything done for 350.00 and 4 doctor visits that cost 5.00 dollars a visit. IMHO, the legal system, doctors and drug companies, and apathy in USA is the reason their is a health care crisis .
One last thing. Here in Taiwan, their are no rest homes for old people. Here, the family of the old person just hires a health care worker from the Philippines or Indonesia and it costs around 500.00 a month for a 24 hour live in care taker. In America health care for the elderly is not near as important as if the persons social security was paid.
I am going to Ecuador in October and while researching the country, saw that there were people retiring there. Weather is pretty good, and actually they use the US Dollar as their currency now, so no exchange rate.
Please report back about Ecuador when you have time after the visit. Cuenca sounds most intriguing. And CHEAP, based on everything I've read.
(get mucho practice speaking Español here in Tejas simply by visiting our local supermarket.
When we went to Italy in 2012, my wife and I fell in love with Florence & Tuscany in general.
We've been moving back and forth from NJ/KY that when we felt that place, there was a primal, common and natural phenomenology we both experienced.
If I could ever rub two nickel together - we gone.
We've been moving back and forth from NJ/KY that when we felt that place, there was a primal, common and natural phenomenology we both experienced.
If I could ever rub two nickel together - we gone.
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anon_l8pbkn96tg3j6
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I'm very interested in this. The two places I'm going to visit as scouting trips before I retire are Punta del Este, Uruguay and Malta.
I'm a big fan of geographical arbitrage in general. One couple we know lives in Venezuela and gets paid in dollars. . . besides the constant fear of death, its probably awesome.
I'm a big fan of geographical arbitrage in general. One couple we know lives in Venezuela and gets paid in dollars. . . besides the constant fear of death, its probably awesome.
