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A Financial Guide to Retiring Abroad

MULTIZ321

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A Financial Guide to Retiring Abroad - by Jonnelle Marte/ washingtonpost.com

"Is it your goal to spend your golden years living in a hut on the beach of a Caribbean island?

Or do you dream of a second act running a vineyard in Tuscany? Retiring overseas can be both more enticing and and more affordable — depending on the locale — than retiring in the United States. But a smooth transition requires careful planning.

“When you just begin thinking about it at a superficial infatuation level, it’s a very exotic, romantic, sexy idea,” says Kathleen Peddicord, publisher of Live and Invest Overseas, which publishes an annual ranking of the best places to retire overseas. “But the truth is that once you get into it, it’s not easy.”..."

Richard
 

PStreet1

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I could not possibly agree more with the statement that those who come to grips with the fact that they are no longer living in the U.S. will be far happier than those who attempt to have the same "standards" they had in the U.S.

Mexico welcomes ex-pats with open arms--but they aren't going to change their culture; they aren't going to provide services in English except as they choose to on a local basis. They aren't going to change the manana way of thinking; they aren't going to change the fact that some things are paid for under the table. It's your job to adjust, not theirs. Mexico is the only country I have experience with, but the rewards (lower expenses on everything from food to housing) simply aren't worth it for some people. If you aren't willing to adapt, you'll be miserable.
 

am1

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No mention of renouncing citizenship?
 

Passepartout

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No mention of renouncing citizenship?

I can think of no country for which this is a requirement for international retirement living.
 

am1

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I can think of no country for which this is a requirement for international retirement living.

It is a strategy to not having to constantly report banking info and pay taxes to a government where you do not live. This is not my plan but the amount that are doing it has been increasing and should continue to increase going forward.
 
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