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WatchVaultNYC
·No one likes the Philippines? Imagine an asian Puerto Rico (with all the good and bad that comes with it), but lots cheaper.
Where to retire, or not..
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queriver
·No one likes the Philippines? Imagine an asian Puerto Rico (with all the good and bad that comes with it), but lots cheaper.
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MSNWatch
··Vintage Omega AficionadoNo one likes the Philippines? Imagine an asian Puerto Rico (with all the good and bad that comes with it), but lots cheaper.
Healthcare an issue - you'll have to live in specific areas for these like Metro Manila and they are very crowded. Also if you have medicare you're not covered so you need to pay out of pocket and costs for major medical issues aren't cheap.
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Rasputin
·I too experienced many of the fantastic aspects of the Windy City myself way back then...
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redpcar
·Many forget that Chicago has an extensive network of family-oriented adjoining suburbs without the high taxes, crimes, and traffic closer to the city. Meanwhile one can remain nearby to world class healthcare and many other attractions that rival and likely surpass most metropolitan areas. The cold weather helps prevent the region from becoming another sunbelt retiree city- which could be a good or bad thing depending on the prospective retiree.
Snow?
pass 😉
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gbesq
·If taxes are a consideration, Pennsylvania is one of the few states that exempts not only Social Security but public and private pensions as well as withdrawals from qualified retirement accounts (401(k)s, 403(b)s, etc.) from state income tax. South Central PA is mostly rolling farmland dotted with small towns. Four season climate, low cost of living, and easy to get to New York City, Philadelphia, Baltimore, DC and Pittsburgh. Jersey beaches and the Chesapeake Bay are also not far away.
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time flies
·If taxes are a consideration, Pennsylvania is one of the few states that exempts not only Social Security but public and private pensions as well as withdrawals from qualified retirement accounts (401(k)s, 403(b)s, etc.) from state income tax. South Central PA is mostly rolling farmland dotted with small towns. Four season climate, low cost of living, and easy to get to New York City, Philadelphia, Baltimore, DC and Pittsburgh. Jersey beaches and the Chesapeake Bay are also not far away.
Not to mention an amusing amusement park.
have fun
kfw
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gbesq
·^True that. And Hershey is a very nice community. Low crime, great schools, nice golf course, and excellent medical facilities. Alas, downtown used to smell like chocolate when I was a kid, but Hershey’s manufacturing has long since moved away. Just corporate offices there now.
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alam
·..Imagine an asian Puerto Rico...
ooh that's a big stretch IMO
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nordwulf
·One of those click-through 'articles' that appear to have been made by an intern with a computer and Google as their main source of information.
Northern Michigan (where I live) is wonderful for 3 months in summer. 3 months in winter in southern Europe, Asia or Oceania would be nice. And the other 6 months travelling would be the best but financing this lifestyle will be a challenge. Just don't want to stay in one place. I'd rather be that guy in the small camper than live in a big house in Florida and the highlight of the day is the early-bird specials at the local diner.
Northern Michigan (where I live) is wonderful for 3 months in summer. 3 months in winter in southern Europe, Asia or Oceania would be nice. And the other 6 months travelling would be the best but financing this lifestyle will be a challenge. Just don't want to stay in one place. I'd rather be that guy in the small camper than live in a big house in Florida and the highlight of the day is the early-bird specials at the local diner.
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Evitzee
·For those that are thinking of retiring to places like the Philippines, Costa Rica, Uruguay, Portugal and others because they are lower cost environments, and then doing a bunch of travel due to your proximity to cool places , you will probably eat up any savings from the move. And then there is semi or yearly travel back to the US (or wherever) to see family and friends. Those savings will be elusive. And then there is the issue of Medicare which doesn't work overseas, don't assume your good health now will continue into the future as you age. Wealthy people like Mick Jagger can use a private jet to come to the US and pay out of pocket, but the average Joe is SOL. And remember US citizens have to pay tax on their worldwide income so slipping off to Thailand doesn't relieve you of your tax liability.
I lived many years in many overseas locations incl Saudi Arabia, UK, Canada, Thailand, Australia and travelled to many others and it was fine because of corporate support for health care, housing, transportation and taxes. My wife and I considered retiring overseas but once all the costs for housing, travel, taxes and medical care were factored in it just didn't work financially. Be honest and do the math, your best bet will probably be to stay in your home country and perhaps move to a lower cost state with better weather, hopefully one with no state income tax which can eat up a chunk of your retirement income.
I lived many years in many overseas locations incl Saudi Arabia, UK, Canada, Thailand, Australia and travelled to many others and it was fine because of corporate support for health care, housing, transportation and taxes. My wife and I considered retiring overseas but once all the costs for housing, travel, taxes and medical care were factored in it just didn't work financially. Be honest and do the math, your best bet will probably be to stay in your home country and perhaps move to a lower cost state with better weather, hopefully one with no state income tax which can eat up a chunk of your retirement income.
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Observer
·Many countries, definitely Costa Rica, allow permanent residency if you invest a minimum amount of money there. It's my understanding that a home purchase qualifies. You can also stay indefinitely if you can show guaranteed income of over 1000USD/month (numbers may have change since I last looked). If you don't have permanent residency, you may need to periodically leave and return, but you don't have to go home, and there's no minimum amount of time you need to be gone. Many expats in Costa Rica cross the border into Panama for the day, get their passports stamped and their timer is reset. Not sure about all countries in the area and beyond, but that's standard procedure for much of Central and South America. Less wealthy countries welcome residents who will contribute to their economies.
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vintagemillenial
·South Florida
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foxtrot
·How about Panama or Chile ….. just to throw in some wild cards.
Google from Chiloe, down to the south…
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Virgil Grissom
·Eastern Tennessee, Eastern Kentucky, or Western NC
As mentioned before Nova Scotia in minute if the immigration laws were not so strict. Wonder what would happen if we moved there and just didn’t tell anyone.
I’m a Bluenoser living in Halifax. We are seeing a near migration of Americans to NS. Most seem to settle in little villages like Chester, Mahone Bay, Lunenburg, and Wolfville...and can you blame them? As for arriving undetected: I’ll pick you up at Maine in my sailboat and smuggle you across to NS. My Coyote fees are reasonable: watches and whisky suffice 😉
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Virgil Grissom
·I've been retired for almost 10 years and its been the best ten years of my life. But you have to prepare yourself for it. I have colleagues that retired and don't have any outside interests so they tag along to the supermarket with their wives, and a couple have died. I have interests in watches, sport bikes, hot turbo hatchbacks, wine, cognac, pinball machines, travel, exercise (spinning), high end audio, F1 & MotoGP, and snooker (World Championship in Sheffield now under way)....a full plate. Just have your money lined up and be realistic on your budget, it does NOT go down dramatically as a lot of pundits will tell you.
Where to retire is a personal decision and depends on your interests. Where I live I can roll out of my driveway on my Yamaha MT-10 or Ford Focus ST and be on deserted, challenging roads with many curves and elevation changes in 10 minutes. That's important to me and a factor in where we retired.
We have friends in FL that we visit for a couple of weeks each year and we are always glad to leave. The place is crowded in the winter with northern Snowbirds invading the place, hurricane weather has to be considered, and even things like sinkhole activity has to be taken into account. And it is pretty devoid of natural beauty inland.....flat. But everybody has to make their own decision as to what is important to them.
I've known people who have retired overseas and never could quite figure out the real attraction in that unless money is the main issue. What's the main advantage other than money? Sure, you can travel around Europe but that isn't cheap.
Someone previously mentioned Nova Scotia....great place, spent 2 1/2 years there on company assignment. But the income taxes were horrendous compared to the US and health care was not so great. NS has relatively few doctors and nurses compared to rest of Canada (many have moved south to Boston and similar areas for more money and higher prestige) so expect long wait times. I had a friend who spent nine months waiting to get a simple hernia operation, a procedure that would have been done in a week in the US. Reason? Limited space and doctors. As you get older health care becomes more and more important. Sure, many places have ok care for routine situations, but if you have severe chest pains at 2am on Sunday in some remote village in Costa Rica when you are 75 yo what's that worth?
You have to weigh all these factors. Remember, the grass is always greener on the other side of the fence. In reality, it isn't.
As a Nova Scotian I cannot but agree with your comments on our current health care debacle. It’s a sad state of affairs and blemishes an otherwise sublime place to live.
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The Father
·I’m a Bluenoser living in Halifax. We are seeing a near migration of Americans to NS. Most seem to settle in little villages like Chester, Mahone Bay, Lunenburg, and Wolfville...and can you blame them? As for arriving undetected: I’ll pick you up at Maine in my sailboat and smuggle you across to NS. My Coyote fees are reasonable: watches and whisky suffice 😉
Yes. Peggy's Cove. Would have to adjust to the long winters, but damn, I hate the desert called Arizona. Just different shades of brown year round.
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Virgil Grissom
·Yes. Peggy's Cove. Would have to adjust to the long winters, but damn, I hate the desert called Arizona. Just different shades of brown year round.
Funny, I spent quite a bit of time in the Arizona desert and adored it. I was doing some test and evaluation work on chinooks at Boeing’s plant in Mesa. Admittedly, it was winter and I was able to jog in the desert in shorts and t-shirts whilst my fellow countrymen suffered through a particularly brutal season. You can keep the summers, though... 😉
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alam
·...Be honest and do the math, your best bet will probably be to stay in your home country and perhaps move to a lower cost state with better weather, hopefully one with no state income tax which can eat up a chunk of your retirement income.
Your points are all valid and must be considered by each individual and then decide based on their own circumstances --but according to the Social Security Administration it seems many Americans have taken the plunge and moved to other countries. "In 2018, the federal government sent Social Security checks to 680,000 American retirees who were living in other countries" SSA
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Tubber
·
Wouldn't even consider it. Politically unstable, ruled by the military Junta and recent elections were a joke. Immigration are fickle to say the least. You can only legally own a condo assuming it's in the 49% allocated to foreigners. It's getting more and more xenophobic. Been here for 20 years if it wasn't for the kids I wouldn't be here. I'll be retiring and dying in the UK.
