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I'm pretty sure you lose your SS if you renounce your US citizenship, or at least I read that somewhere.
I dont think so.
When I lived in Italy, I had some LN Italians working for me. It was my understanding that if they wished to, they could apply for a SSA account, and begin to pay into their SSA account.
We had a few Italians who were paying into both the Italian system and the American system.
Why would you need to renounce your US citizenship to live overseas??
You don't
As it is now,you can have dual citizenship, although most places you would simply become a resident,not a citizen.
They may have changed the rules, and I am no authority, but the only way you used to be able to be a dual American/Anything else was to be born oversees, or be born here to a legal immigrant of another country. Resident yes, dual anything no.
Just curious, does your US passport say you are a hyphenated American? If it does and you were born here to US-born parents, then they've changed the rules is all.
Quote:
Originally Posted by oz in SC
No you can have dual citizenship now,I do.
Actually I have citizenship in three countries but only have passports for two.
The only stipulation from the gov't was that you travel on your US passport.
Just curious, does your US passport say you are a hyphenated American? If it does and you were born here to US-born parents, then they've changed the rules is all.
I don't believe so..I am just a naturalised citizen,I spent good money to pay taxes....
$600 cheap apartment
$200 cook own cheap meals
$200 utilities
There already isn't any wriggle room in this budget that is all pretty bare-bones, so what about healthcare? Can two people in the United States have health insurance and the associated out of pocket costs on the remaining $200/month?
Even if you could miraculously squeeze all healthcare costs into the remaining $200 to meet this $1200/monthly living costs you've got no buffer at all. Vacuum cleaner breaks? Dang a new one is outside the budget unless you want to eat on only $100 for a month.
Simply not grounded in reality.
There are plenty of vacuums for 20-bucks at yard sales and thrift shops. Nobody said you could live on $1,200 AND buy all brand new stuff whenever you wanted to. The "retiree" living on $1,200 has Medicare.
Isn't it amazing how many Americans living on $5,000 a month think it is impossible to live on less than that. Now, who is simply not grounded in reality? What are you doing in the Frugal Living forum?
There are plenty of vacuums for 20-bucks at yard sales and thrift shops. Nobody said you could live on $1,200 AND buy all brand new stuff whenever you wanted to. The "retiree" living on $1,200 has Medicare.
Isn't it amazing how many Americans living on $5,000 a month think it is impossible to live on less than that. Now, who is simply not grounded in reality? What are you doing in the Frugal Living forum?
To spend 50% of your budget on housing is considered too much I believe.
If a person was making $5000/month,would you think spending $2500/month on rent a wise plan?
Interestingly enough,my wife just made a budget up for my MIL who is on a fixed income,bringing in just over $1000/month on Soc. Sec.
She was continually having to dip into her savings to bolster her checking account and trust me,she is frugal.
Although she does have her son living with her who added to the cost.
But once the budget was worked out with a combined income of $2500/month,there is roughly $600 left over.
A set of tires costs $1000 for my truck,we just had repairs done that cost us close to $2000....while it IS possible to live this close to the edge,it relies on nothing ever going wrong or an unexpected expense.
Here are some figures I gathered from worldsalaries.org, showing the cost of living in various countries, 2005. No other cheap countries were listed, and I included only a few developed countries, for reference:. Taiwan was an interesting surprise, that would be a very nice country to live in.
0.226 Philippines
0.319 Thailand
0.444 Latvia
0.459 Peru
0.493 Brazil
0.505 Lithuania
0.513 Romania
0.543 Slovakia
0.554 Taiwan
0.604 Poland
0.635 Hungary
0.622 Czech
0.690 Mexico
0.780 S. Korea
0.810 Israel
0.890 Portugal
0.894 Greece
1.000 USA
1.019 Spain
1.069 New Zealand
1.161 France
1.177 Ireland
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