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We've several friends who've retired and bought homes in Costa Rica, San Miguel de Allende, Mexico, and one bought a barge in France. They all seem to like it just fine and have not heard of any problems with taxes or their American citizenship.
They all stated that their reasons were quality of life. They wanted a slower paced, walk to the market every morning, chat with your neighbors lifestyle. They all miss their family and friends and are forever inviting us for a visit. They come back from time to time as well.
One just sold her Costa Rica home and moved back due to needing to help out with a family caretaking problem. Another has bought another home in San Miguel as the original home wasn't big enough for to hold all the friends that came visiting.
None of them have ever said they regretted the move. But then none of them have ever said they planned to live there forever either. This was an adventure made possible by retirement.
The cost of living was a factor. No way could my friend in Costa Rica afford a house on the beach in the U.S.A. A seafood dinner with wine is $25 for two. But the big pull was the adventure and the pace of life.
I don't believe patriotism really entered into the picture for any of them.
I found out a few years ago that I am eligible for UK citizenship because my mom was born there (just have to file some paperwork and go through a "citizenship ceremony" over there, which I hope to do in 2015). We lived in England for 3 years when I was a kid (stepdad was in the Air Force and was stationed there), and after I found out I was eligible for citizenship I started thinking about retiring over there. Retirement is >15 years away, and I doubt that I really will move there, but I like the idea of having OPTIONS.
I currently live and work in New Hampshire and will definitely be here until retirement. I love my house and my neighborhood, but property taxes are insane and may very well be $10,000/year for my current house by retirement time, so it may be time for someplace new by then. I expect my current house (and another house that I still own but am renting out) to be paid off by retirement, and I'll have a 403(b) and SS, so I should be able to live comfortably SOMEWHERE (I don't have extravagant tastes at ALL).
I currently live and work in New Hampshire and will definitely be here until retirement. I love my house and my neighborhood, but property taxes are insane and may very well be $10,000/year for my current house by retirement time, so it may be time for someplace new by then.
Whenever people complain about the high property taxes in New Hampshire, I always point out that your state has no sales tax and no income tax (except on interest and dividends). How could property taxes be anything but high?
Whenever people complain about the high property taxes in New Hampshire, I always point out that your state has no sales tax and no income tax (except on interest and dividends). How could property taxes be anything but high?
But I really like the state motto, "Live Free or Die." It's on their license plates which presumably are made by prison industries. Being that they are probably stamped out by inmates I love the irony.
Whenever people complain about the high property taxes in New Hampshire, I always point out that your state has no sales tax and no income tax (except on interest and dividends). How could property taxes be anything but high?
Quote:
Originally Posted by Curmudgeon
But I really like the state motto, "Live Free or Die." It's on their license plates which presumably are made by prison industries. Being that they are probably stamped out by inmates I love the irony.
Hey guys, quit pickin' on my beloved state!
Escort Rider, I normally DON'T complain about my property taxes because I don't really "feel" them now, while I am working and making a good salary -- if I lived in a neighboring state (I have lots of colleagues who live in Massachusetts and Vermont), I would pay income tax AND sales tax AND property tax, and my overall tax burden would be much higher (I've done the calculations).
I "complained" about the property taxes in the context of this thread, which is about retirement. I've posted before that I may very well move out of NH once I retire, since at that time my overall tax burden would likely be less in another state -- my income will be low (compared to what it is now) and I don't buy a whole lot so sales tax wouldn't matter much. I should have emphasized that my complaint was only in the context of property taxes here IN RETIREMENT.
(New Hampshire actually does let senior citizens defer property taxes on their primary residence until they move or die, but at $10,000/year (again, that's just an estimate of what they might be 15 years from now), that tax burden would add up pretty quickly. Then again, I don't have dependents so for me it would just mean I leave less money to my favorite charities ...)
I'd love to experience the adventure of living abroad for increments--such as during the winter--but my unfortunate lack of second language skills would make that adventure a bit daunting. Unless I lived in an ex-pat community--but not sure how that would play out.
Perhaps it would sharpen my brain to try to pick up my high school Spanish or college French again?
I think living overseas would be exciting...customs, music, literature, different cuisines, architecture, and history all fascinate me.
I'd love to experience the adventure of living abroad for increments--such as during the winter--but my unfortunate lack of second language skills would make that adventure a bit daunting. Unless I lived in an ex-pat community--but not sure how that would play out.
Perhaps it would sharpen my brain to try to pick up my high school Spanish or college French again?
I think living overseas would be exciting...customs, music, literature, different cuisines, architecture, and history all fascinate me.
Learning Spanish was one of the goals for several friends.
Like the OP, I spent 20+ years serving in our military and feel a heightened sense of patriotism for this country. But I hate what it has and is becoming, but I would never give up my citizenship.
We will be visiting there in 3 weeks, so will get a sense for how it has changed in the last 2 years since I was there last. We have also considered Scotland and Ireland which is my heritage. If you have never been to Europe and experienced it, you probably won't understand, if you have, you will.
I decidedly miss the market aspect of the three Asian countries I've lived in. Our supermarkets are sterile and impersonal compared to open markets and vendor stall where in a short period you are known and your patronage appreciated. Things are fresher and you get to know the other daily shoppers as well.
Add sitting in or outside of a teahouse and it really is hard to beat.
We've several friends who've retired and bought homes in Costa Rica, San Miguel de Allende, Mexico, and one bought a barge in France. They all seem to like it just fine and have not heard of any problems with taxes or their American citizenship.
They all stated that their reasons were quality of life. They wanted a slower paced, walk to the market every morning, chat with your neighbors lifestyle. They all miss their family and friends and are forever inviting us for a visit. They come back from time to time as well.
One just sold her Costa Rica home and moved back due to needing to help out with a family caretaking problem. Another has bought another home in San Miguel as the original home wasn't big enough for to hold all the friends that came visiting.
None of them have ever said they regretted the move. But then none of them have ever said they planned to live there forever either. This was an adventure made possible by retirement.
A close friend retired to SMdA a couple of years ago, for the reasons underlined. And that's exactly what she's found.
She considered it a temporary move and accordingly rents a furnished house there but I'm yet to hear a peep from her about returning to the US. She has not visited here once since leaving.
An interesting aside is that she and her husband had been divorced for several years; he visited her in SMdA and they've reconciled. Both credit the relaxed lifestyle there for their new-found contentment together.
She's an avid amateur photographer and SMdA is a photographer's dream.
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Property taxes in NH - the context
