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Old 02-17-2019, 07:18 AM
 
Location: Central Massachusetts
4,800 posts, read 4,844,519 times
Reputation: 6377

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Quote:
Originally Posted by SlowWalk View Post
I also posted this on the World thread with no response:

I have been traveling to various countries to investigate retiring outside the US. I've considered Thailand, Malaysia, Indonesia and the Philippines. Brazil, Chile, Argentina, (Colombia is too dangerous). Ghana, South Africa, Kenya, Madagascar. I think I ruled out Europe. Is anyone considering retiring outside the US? Where are you investigating and why?
You should consider Ecuador and Peru. I liked Ecuador and visited there with an eye on living there.

This is one of the reasons I really liked it. If you watch this YouTube video look at the security surrounding El Presidente. Listen to the words in the video and understand that Ecuador is a very beautiful country with wonderful people. Only issue is if you want to live like an American it is going to be expensive. But if you want to live very well, live like you're a rich Ecuadorian. Don't try to bring everything American.



https://www.youtube.com/watch?v=mn7dMzG-T2w&t=209s
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Old 02-18-2019, 09:21 AM
mlb
 
Location: North Monterey County
3,178 posts, read 2,853,807 times
Reputation: 4876
Be careful what you wish for.

My brother moved to Brazil. Brazil has been in a political uproar the last year - with a Donald Trump-like wanna be dictator at the helm.

Also - brother has difficulty getting funds dispersed from family estates that we all have inherited from. He also broke his hip and the medical care was not good. Says he walks like a penguin. I TOLD him that moving to a foreign country he would suffer the consequences in the lack of quality health care.

For him the grass is ALWAYS greener. He did marry a Brazilian local and lives in her home/ranch. But there is nothing redeemable about living in a country so lawless.

I don't think he has enough to move back - but I bet if he had the opportunity - he would do it in a heartbeat.
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Old 02-18-2019, 09:25 AM
 
1,257 posts, read 287,013 times
Reputation: 1509
Quote:
Originally Posted by yellowsnow View Post
I researched the heck out of it for several years. Even went to visit some likely candidates. I have lived for extended periods outside of the US before so I figured I was a likely candidate. Eventually I decided against it and here's why:

cultural isolation

price-for this to be a good deal you have to live like a local. As soon as you look at the expat communities aimed at American retirees, the prices go way up.

work-if I have to buy the flat screen TV here, I can get a job. If I live in another country on a retiree visa, I can't. Even if I'm just bored; here I can work.

I was planning on renting for a while because I noticed it was harder to sell than it was to buy. Medical insurance and quality of medical care was quite good. I concentrated on Central America; Panama, Nicaragua, Honduras, Mexico, and Costa Rica. Some people would love doing this but it's not for everyone.
Great post. Thanks for the insight.
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Old 02-18-2019, 10:52 AM
 
13,874 posts, read 7,386,288 times
Reputation: 25356
Quote:
Originally Posted by Hefe View Post
Couldn't one just get an International Drivers License?

There's no such thing. An International Driving Permit you can get somewhere like AAA is just a translation of your US drivers license into several other languages. I think it's English, French, Spanish, German, Russian, Chinese, Arabic, Italian, Swedish, and Portuguese. I've rented cars many times in European countries that technically require them without having one. In the EU, you can drive anywhere with a UK (for now) or Irish drivers license which is in English. It's not like some traffic cop in Germany, Italy, or Spain is going to arrest me for having a US drivers license unless I've done other things where they're fishing for ways to hassle me.
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Old 02-18-2019, 10:57 AM
 
Location: Miraflores
782 posts, read 893,007 times
Reputation: 1531
Quote:
Originally Posted by lieqiang View Post
Vanguard, Schwab, Fidleity, T Rowe Price, etc. require a US address.


I have a Schwab intl account with no US address! Rent cars in the USA several times a year through a European agency that includes all insurance at a price less or equal too the prices on the majors websites. Have Cadillac HI here and pick up HI when I travel to the US for a reasonable price.
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Old 02-18-2019, 11:02 AM
 
Location: Miraflores
782 posts, read 893,007 times
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Quote:
Originally Posted by GarryHarris View Post
How do you NOT have a home state?
I was born and lived in the USA for fifty years. NY was my Home state but I gave up residence their in order to avoid taxes. I no longer have a DL, voter registration, or property their.
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Old 02-18-2019, 03:53 PM
 
14,258 posts, read 23,979,216 times
Reputation: 20048
Quote:
Originally Posted by JakeinChina View Post
With this virtual address, what happens if the IRS sends you a letter after you file your taxes? Would they really forward those letters to your address overseas? Perhaps its easier for Mexico and Europe. Maybe expats living in Asia might have a more difficult time.

Another issue that you might have if you have a US address is that you might be establishing a residency in a state where you might not want to. For example, it MIGHT be convenient to direct all your mail to a relative's home address. However, if that location is in a state where your STATE income taxes are 8%, you may be setting yourself up for problems when the home state comes for their money.
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Old 02-18-2019, 05:20 PM
 
Location: On the road
5,922 posts, read 2,885,080 times
Reputation: 11331
Quote:
Originally Posted by Sand&Salt View Post
I looked into mail forwarding services but they charged $3 a PAGE to scan mail for you. That would add up.
There are services that scan up to a certain number per month for free, included in your plan. We use this one: https://www.postscanmail.com/pricing.html

For $10/month they'll scan the exterior of up to 30 items, and will scan the contents of 5 items per month. It's usually pretty easy to tell from the exterior if it's something worth scanning inside or trashing. We've had an additional charge maybe twice in the last few years, when we need to physically keep something so pay $2 to have it forwarded to my parents's house.


Quote:
Originally Posted by JakeinChina View Post
With this virtual address, what happens if the IRS sends you a letter after you file your taxes? Would they really forward those letters to your address overseas? Perhaps its easier for Mexico and Europe. Maybe expats living in Asia might have a more difficult time.
You don't need the letter forwarded because it's scanned. You can read it online, save it to your files, even print it.
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Old 02-18-2019, 05:22 PM
 
Location: On the road
5,922 posts, read 2,885,080 times
Reputation: 11331
Quote:
Originally Posted by SlowWalk View Post
I have been traveling to various countries to investigate retiring outside the US. I've considered Thailand, Malaysia, Indonesia and the Philippines. Brazil, Chile, Argentina, (Colombia is too dangerous). Ghana, South Africa, Kenya, Madagascar.
Colombia is too dangerous but you're considering South Africa and Brazil? That's bizarre.

It's not the 90s anymore, Colombia is a lot safer/stable now and has been getting more and more popular with expats. Wonderful folks.
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Old 02-18-2019, 07:55 PM
 
653 posts, read 581,841 times
Reputation: 699
Quote:
Originally Posted by jlawrence01 View Post
Another issue that you might have if you have a US address is that you might be establishing a residency in a state where you might not want to. For example, it MIGHT be convenient to direct all your mail to a relative's home address. However, if that location is in a state where your STATE income taxes are 8%, you may be setting yourself up for problems when the home state comes for their money.
This is actually very true. Last month, for the first time in my 18 years of living overseas I received a letter from the state of Pennsylvania asking if my income should be taxed at the state level. They gave you an option to agree or disagree. I checked disagree and mailed it back in. My brother lives in PA, and I have a PA drivers license and PA mailing address for IRS matters, but no home nor do I reside their except for 3 weeks in a year when I visit family.


I just changed over two years ago from a NJ license to a PA license. NJ never asked me for state taxes. I own property in FL and I might change my drivers license to FL, but its just a pain to fly down to FL when I visit famly in PA and NJ.


I will move back to the U.S. eventually over the next few years, but if your plan is to live overseas for the long haul, I'd look into these virtual mailing addresses and not declare a state residency.
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