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I'm retiring in about five years, I think; I want to be someplace by the water, where it's warm all the time. Anyone know about retiring to Greece? I know the economy is having problems.
Also, could I give music lessons (assuming I spoke Greek, which I am currently studying), without getting into trouble with the authorities for the income?
I'm retiring in about five years, I think; I want to be someplace by the water, where it's warm all the time. Anyone know about retiring to Greece? I know the economy is having problems.
Also, could I give music lessons (assuming I spoke Greek, which I am currently studying), without getting into trouble with the authorities for the income?
TIA
I can't imagine it with the riots and decline in society there...sorry. Croatia would be another place I would consider before Greece. The architecture and that beautiful blue water in Greece is a plus.
Why Greece at this point in time ? The country is a financial shambles and not likely to get better any time soon? The end of 2101 saw the government placing a VAT of 23% on goods and services and 13% on food. The cost of living is going steadily upwards.
Greece is not necessarily warm year round. The warmer areas do have a coldish, wet winter although not likely seeing snow.
As for working there. As an America, you're not part of the European Union and Greece has very strict laws abut non EU residents working there. Getting a work permit is near to impossible. Get caught working off the books and they'll deport you.
You want warm all year and by the water. Why not some town along the Florida or Gulf Coasts where the cost of living is reasonable. Greece is not cheap.
But seriously before you decide, try to live there for an extended stay, not in a hotel, but in a rooming house, etc. for at least a couple of months and see how you like it. Try it off season in the winter. Price actual rents, costs of heat,electric, phone, internet,food, TV , etc.
And most important, what about health care ? Unless you are contributing to Greek social security system, you're not covered by the their health care. That means you could wind up with some significant medical bills. Medicare does not cover you if you're living outside the US ( traveling as a tourist -yes- actual place of abode outside the US- no). Would you qualify for and be able to afford a private policy ?
At this point in time means in several years. No great miracle is going to happen that will turn a county from an economic basket case to a thriving economy in five short years. They're not improving, but getting worse. Greece has problems so deep they may not go away for decades, if at all.
It's a beautiful country for historic treasures and scenery but as a stable, thriving economy- meh
Just the liabilties in future years and no growth from non-competitive business does not look good for either Greece or Spain. I mean when they are raisng VAT to 40 and 45% that shows just now little revenue streams they have.
Just the liabilties in future years and no growth from non-competitive business does not look good for either Greece or Spain. I mean when they are raisng VAT to 40 and 45% that shows just now little revenue streams they have.
Are either southern France or Italy better choices then??
...Medicare does not cover you if you're living outside the US (traveling as a tourist -yes- actual place of abode outside the US- no). Would you qualify for and be able to afford a private policy?
Just FWIW - Medicare doesn't cover you outside the US even if you're a tourist. Some Medigap policies provide fairly limited coverage outside the US. I don't know whether any MA plans provide coverage outside the US.
Also - the public healthcare system in Greece is in total chaos now. E.g.
For retiring to a country other than the US, its always best to contact the consulate of the country in question. There are lots of hoops to jump through to get an extended stay visa.
You have to prove to them that you have sufficient funds to cover your costs of living . What you think is sufficient they may not think so. You'll have to have to buy medical insurance, no extended visa without medical insurance. In general, as an American retiree, you won't be able to get a work permit.
You've really got to line your financial ducks up in a row before retiring out of the country. Although you'll have to buy an individual insurance policy for Europe, you can't opt out of Medicare and still keep your Social Security payments. If you opt of out Medicare your SS payments stop too.
So although your Medicare Part A won't cover you in Europe, the Part A cost is still going to be deducted out of your SS payment. Then again, you might want to also keep paying for Part B, the Medigap part in case you want to come back to the US for treatment. Thus, you can wind up having lots of health insurance payments.
Please do lots of research. Start with the consulate of each country. And remember nothing is ever as cheap as magazine articles make it seem. I don't know if retiring to France or Italy is a good idea for you. To live a middle class lifestyle in either country is not cheap. I think it depends on realistic expectations and finances on your part. Good luck
So although your Medicare Part A won't cover you in Europe, the Part A cost is still going to be deducted out of your SS payment. Then again, you might want to also keep paying for Part B, the Medigap part in case you want to come back to the US for treatment. Thus, you can wind up having lots of health insurance payments.
Just a slight tweak here. It's the Medicare Part B premium that is deducted from your Social Security check. That's the part that pays for doctors, durable medical equipment, etc. Part A is the hospitalization part and there is no premium. Supplemental/Medigap policies bare strictly separate and are paid for by the recipient.
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