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You have to invest 500k at risk to be eligible for a GC.
For a lot of retirees 500k is not that unobtainable to reach their goal. Most Europeans of that age group own their homes. Then add the currency conversion into the equation. Their pensions are worth 1/3 more in the US. Some insurers offer packages for up to five years out of country. All you have to do to restart the cycle is register when you visit family. When you look at the increase in cost of living and housing in traditional European retirement markets such as Spain - the US is very affordable.
Well, 500k looks like a HUGE amount for most people
Spain is way more expensive than most parts of the US. I know because I live in Spain for now.
I live in a very small town (about 50.000 people) my house is worth 420.000 euro and it's not an OMG house. About 2000 sqare feet, no garden, no pool and the most important part of this: NO SECURITY at all.
Spain has become a VERY dangerous country specially for retired people. Every single day you can watch the news and find a new case of foreign criminals going into old people houses and hurting them (sometimes to death) to get whatever they got at home. The most horrible part is that they prefer to go into your house when you are IN!!
Houses here are ALL surrounded by fences, all windows got iron bars, alarm, some people has mean dogs outside... and it's not enough. I know people from my area ( I live on East Coast, Castellon) relaxing outside at the pool with their kids and surprised by 4 or 5 criminals that obbly them going into the house and give them all worthy stuff.
Some years ago, you were afraid of coming back from holidays and find out that someone got into your house and took your PS2. Now the problem is that you could be sleeping any day and be killed for 100 euro.
Of course other countries retirees are the most desirable ones for these "gentlemen" as they got bigger paychecks.
But right now, it doesn't matter if you are rich or not. If your house is somehow easy to get in, they WILL.
USA is cheaper then Europe for retirees but then one has to look that there is no public transportation in USA and health care is extremely expensive. This makes it a very unfavourable proposition for old age people.
Quote:
Originally Posted by Threestep
You have to invest 500k at risk to be eligible for a GC.
For a lot of retirees 500k is not that unobtainable to reach their goal. Most Europeans of that age group own their homes. Then add the currency conversion into the equation. Their pensions are worth 1/3 more in the US. Some insurers offer packages for up to five years out of country. All you have to do to restart the cycle is register when you visit family. When you look at the increase in cost of living and housing in traditional European retirement markets such as Spain - the US is very affordable.
USA is cheaper then Europe for retirees but then one has to look that there is no public transportation in USA and health care is extremely expensive. This makes it a very unfavourable proposition for old age people.
There is public transportation. Plenty of it. Buy into an assisted living community (some of them are simply fantastic) and you have shuttle service to mall, beach, restaurants. Who need spublic transportation anyway? Have you checkd lately what fares are? I paid 10 euro round trip for four stops on the tram in a medium town in Germany the other day. Sorry - cab would have been about the same and a lot less cigarette smoke, cell phone conversation and unpleasant people close to me).
You can hang on to expanded medical coverage for up to five years. There are plenty of expat coverage programs which are actually affordable.
At this point discussions are mute as it is just another preposition with probably a limited lifespan.
Friends of mine live in Spain and have a hard time selling their really gorgeous little villa on the coast. Living like you describe it would be unacceptable for me.
one cannot hide the fact that USA do not have public transportation behind this presumption that who needs public transportation????? I have also travelled in Europe in trams/trains/bus and smoking is banned. Yes I have checked the fares very well. I once travelled 40 miles in UK from one tiny town to other tiny town for 3 pounds while cab fare in USA if small town is lucky to have a cab would have cost 100 pounds. either u have your own car or beg from somebody, that seems to be the norm in usa. and let me tell you, usa hospitals deny coverage based on foreign medical insurances. it becomes pre existing condition and retirees from europe will have to sell the house to pay medical bills.
Quote:
Originally Posted by Threestep
There is public transportation. Plenty of it. Buy into an assisted living community (some of them are simply fantastic) and you have shuttle service to mall, beach, restaurants. Who need spublic transportation anyway? Have you checkd lately what fares are? I paid 10 euro round trip for four stops on the tram in a medium town in Germany the other day. Sorry - cab would have been about the same and a lot less cigarette smoke, cell phone conversation and unpleasant people close to me).
You can hang on to expanded medical coverage for up to five years. There are plenty of expat coverage programs which are actually affordable.
At this point discussions are mute as it is just another preposition with probably a limited lifespan.
Friends of mine live in Spain and have a hard time selling their really gorgeous little villa on the coast. Living like you describe it would be unacceptable for me.
500,000 for just the right to live here, not even get work permits? What is this, an expensive vacation?
EDIT: retirement? I see! LOL
Lots of people who are retired would like to come to US for at least 6 months There are lots of people who come to UK to Central Florida during the winter, people can still buy homes in US on a tourist visa and stay for 6 months so not sure what the bill is going to achieve
My thoughts is that anyone with $500,000 CASH is probably not going to want to live in the US. There is more "bang" for your buck elsewhere. Even for retirees, healthcare and cost of living is way high and unless you have family here, it makes little sense to invest in getting a visa when you could just get a travel visa.
IF the bill goes forward then it would be up to those eligible for the residency visa to determine whether or not it would benefit them. If you read the article you will see that it encompasses more than is offered under a travel visa.
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