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Old 08-08-2014, 02:56 PM
 
Location: USA
2,593 posts, read 3,804,837 times
Reputation: 2225

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http://finance.yahoo.com/news/5-reas...121610918.html

Good article.

It's shocking that one couple can get phone + internet service for $25/month or something like that abroad.
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Old 08-08-2014, 03:37 PM
 
20,194 posts, read 21,615,484 times
Reputation: 9235
Problem with retiring overseas is...

1) You never own the property, you have to sell it before you die or you risk losing it... better off renting but renting sucks...

2) Fly very far (and expensive) to go back to the states when you want to visit family/friends...

3) Taxes are much more difficult (as well as getting a bank account) to do when living in foreign countries...

4) The foreign countries restaurants, etc will rip you off because you are not a citizen... I've seen 1,000% jumps in prices...

5) Housing/Utilities are not the same overseas, it will take some getting used (if you can)...
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Old 08-08-2014, 04:27 PM
 
Location: Los Angeles area
14,017 posts, read 18,952,015 times
Reputation: 32445
What a lame article! Three out of the five reasons are variations on the theme of "one can live for less money in some other countries". Well, duh! Don't we all know that already? Another reason was to escape the political B.S. which surrounds us. Gee whiz, we can just tune out to escape that, if that is desired.

Much ado about NOTHING.
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Old 08-08-2014, 04:55 PM
 
Location: stuck in the woods with bears and moose
23,216 posts, read 22,337,529 times
Reputation: 41749
I wouldn't want to retire to any of those countries. If I had my choice I would have retired to England where hubby already has health insurance and so do I just from being married to him. The climate can't be any worse than New England and there is more history and things to do because I haven't lived there all my life. Problem would be really expensive airfare to ever come back and visit--airfare is going through the roof.
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Old 08-09-2014, 04:31 AM
 
Location: Phoenix
22,990 posts, read 12,358,566 times
Reputation: 19270
I've considered retiring overseas primarily due to cost of living comparisons and already thought much more thoroughly about it than mentioned in that article. There are definitely downsides such as separation from family, language and culture differences, laws and visa requirements. The problem many have is they don't have enough to retire in the USA so going to a low cost country like Thailand, Mexico, Ecuador is the only way they can live on what they have.

In my case, I've thought you can just live better on a given sum of money in a low cost country....similar to leaving NYC SF to Arkansas in retirement. I've worked in many countries so I've experienced the pros and cons. My wife is against the idea so I guess that's that.
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Old 08-09-2014, 05:43 AM
 
Location: Lone Tree, CO
451 posts, read 682,770 times
Reputation: 700
Most people would be better off moving to a low cost of living area in the US instead of retiring overseas. But, for the more adventurous types, living overseas can be a viable option if you have the proper mental attitude going into it.

Your taxes are not going to magically become more difficult if you move overseas. In reality, they will probably become quite a bit easier, and if you choose a tax free state as your residence, you can say goodbye to annual state income tax filings.

If you take the time to learn at least some of the language and respect the culture, you stand much less chance of being ripped off (unless the only restaurants you go to are the ones that advertise their English menus).

Friends and family can also come visit you in whatever country is now home instead of you getting on a plane every other month and making a long flight back and forth.
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Old 08-09-2014, 05:43 AM
 
13,510 posts, read 15,704,570 times
Reputation: 37885
Quote:
Originally Posted by evilnewbie View Post
Problem with retiring overseas is...
The article was hardly a masterpiece of analysis, but your response is worse. I was born and raised in the U.S., and emigrated from it at age sixty-two to live in Europe. I have lived in an EU country and a what was at the time, a non-EU country. As for your observations:
Quote:

1) You never own the property, you have to sell it before you die or you risk losing it... better off renting but renting sucks...
BS. I owned my homes and the land they were built on in both countries, and I paid the associated taxes at the same rate as nationals. I can will my property to whomever I please, whether they are a relative, a national citizen or a foreigner. The inheritance tax depends upon their relationship to me, not what citizenship they have. Property ownership, etc. are going to vary according to what specific country you are talking about.
Quote:

2) Fly very far (and expensive) to go back to the states when you want to visit family/friends...
Tell 'em to save their pennies, if they can, and come to see you. Take turns visiting. Plus, (I live in Europe), I would not find the flight costs every few years so high as to be worth b*itching about.

On the other hand, as for the articles comments about the pleasure of being disconnected from American political life, that was a pretty secondary motivation for emigrating; however, I now see it as a major plus. Americans and American politicians seem totally unable to grasp the significance of the collapse of the brief post-Cold War lull, and the emerged worldwide change and instability. I look at no U.S. TV, read no U.S. internet news sites, read no U.S. newspapers or magazines, and it is a relief. I know as much about the moves of the U.S. as I do those of China, and the sources for both are usually the BBC.
Quote:

3) Taxes are much more difficult (as well as getting a bank account) to do when living in foreign countries...
BS. I got a bank account in a European bank while living in the U.S.; it was ready and waiting to use when I arrived. There is zero problem getting a banking account. Not even sure what the remark about taxes is supposed to mean, but....I hire an accountant to do mine (1/5 the cost of the guy who does my U.S. taxes), and I usually get a refund. My property taxes have been always been smaller than even those of an American village.
Quote:

4) The foreign countries restaurants, etc will rip you off because you are not a citizen... I've seen 1,000% jumps in prices...
My friend, I sit down in the same restaurants as locals, receive the same menu, and the same food and pay the same prices....and it has never once been any different. I pay the same prices and the same taxes as any national in any shop or large store no matter where I go in the country.

I did know of one older woman who ran a general store in a small town in western Cyprus, she confessed to charging tourists more.
Quote:

5) Housing/Utilities are not the same overseas, it will take some getting used (if you can)...
OMG!!!!!!!!!! "Getting used to"....how painful. I found wearing a condom took getting used to, it did not cause me such trauma that I had to give up sex.

Building styles and local preferences in household layout, etc. vary all over the world....there are definitely some I would not want to get used to, but ditto the U.S.

I have lived in old houses and condo buildings, and new ones, and one house built to my specifications. None of them were like what I would have found in most parts of the U.S., and the arrangements for electric, water, phone, etc. varied from place to place - not a tragedy or major problem in the lot. At present I live in a moderately warm climate year round in an uninsulated six-room condo with large sliding glass doors in four rooms. I use electricity for everything, including heating during cold periods. The monthly annual cost is only slightly higher than what I paid for electric in a rented apartment with central heating in the U.S. My internet, TV and phone are cheaper than what I paid for TV/internet in the U.S. when I lived there.

The cost of an automobile is atrocious. The price of gasoline is very high. My car is ten years old, spotless outside and in, and has, thus far, only required the normal amount of annual maintenance. I never think twice about the cost of gasoline because I save on the cost of other things, so it is a trade-off for me.

Obviously, my observations apply to experiences based in southern Europe. They would not be the same if I had lived in other places.

Your generalities, however, are rubbish as there are so many differences from area to area around the world, or within a single country.

Last edited by kevxu; 08-09-2014 at 06:05 AM..
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Old 08-09-2014, 06:16 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
27,297 posts, read 45,449,501 times
Reputation: 31639
Quote:
Originally Posted by in_newengland View Post
I wouldn't want to retire to any of those countries. ...--airfare is going through the roof.
I just bought 2 more Asia > USA flights this week. They were less than I paid when living in Asia in 1980's, but is up a couple hundred bucks from my cheapest. Still within a shout of $1000 (1/20th of my annual HC premiums in USA, 1/20th of property taxes in USA). I can actually fly back and forth once / month for what I save living here (Asia at the moment).

I will do some stays in Europe too. Lived there in the 1990's and will seek out some of the low cost areas to live (temporarily) in the future. You can often get flights for under $1000 to Europe. Since we are Retired...(and still flexible) we can find very cheap fares (I get the emails on Weds from Airlines and have paid $300RT SFO to Tokyo, Europe can be less than that!)

Certainly is not the life / desire of many, especially 'traditionalists' (which is not those who choose to retire OOC) . That is a good thing (for us and for them). More space / services for each

Heath Care cost and quality service drives many of my choices (I retired pre age 50 w/o pension or healthcare... many more years of HC and retirement to fund before I'm Medicare eligible (Which will be gone / raided / too expensive by the time I reach that age... or I may be gone by then and not need to burden the system...)).
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Old 08-09-2014, 07:17 AM
 
Location: Bretagne, FRANCE
194 posts, read 237,047 times
Reputation: 494
Quote:
Originally Posted by in_newengland View Post
I wouldn't want to retire to any of those countries. If I had my choice I would have retired to England where hubby already has health insurance and so do I just from being married to him. The climate can't be any worse than New England and there is more history and things to do because I haven't lived there all my life. Problem would be really expensive airfare to ever come back and visit--airfare is going through the roof.
If your husband is a citizen of the UK the two of you can live anywhere in the EU and choose to live where the weather is better.
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Old 08-09-2014, 07:30 AM
 
Location: Bretagne, FRANCE
194 posts, read 237,047 times
Reputation: 494
Quote:
Originally Posted by kevxu View Post
The article was hardly a masterpiece of analysis, but your response is worse. I was born and raised in the U.S., and emigrated from it at age sixty-two to live in Europe. I have lived in an EU country and a what was at the time, a non-EU country. As for your observations:

BS. I owned my homes and the land they were built on in both countries, and I paid the associated taxes at the same rate as nationals. I can will my property to whomever I please, whether they are a relative, a national citizen or a foreigner. The inheritance tax depends upon their relationship to me, not what citizenship they have. Property ownership, etc. are going to vary according to what specific country you are talking about.

Tell 'em to save their pennies, if they can, and come to see you. Take turns visiting. Plus, (I live in Europe), I would not find the flight costs every few years so high as to be worth b*itching about.

On the other hand, as for the articles comments about the pleasure of being disconnected from American political life, that was a pretty secondary motivation for emigrating; however, I now see it as a major plus. Americans and American politicians seem totally unable to grasp the significance of the collapse of the brief post-Cold War lull, and the emerged worldwide change and instability. I look at no U.S. TV, read no U.S. internet news sites, read no U.S. newspapers or magazines, and it is a relief. I know as much about the moves of the U.S. as I do those of China, and the sources for both are usually the BBC.

BS. I got a bank account in a European bank while living in the U.S.; it was ready and waiting to use when I arrived. There is zero problem getting a banking account. Not even sure what the remark about taxes is supposed to mean, but....I hire an accountant to do mine (1/5 the cost of the guy who does my U.S. taxes), and I usually get a refund. My property taxes have been always been smaller than even those of an American village.

My friend, I sit down in the same restaurants as locals, receive the same menu, and the same food and pay the same prices....and it has never once been any different. I pay the same prices and the same taxes as any national in any shop or large store no matter where I go in the country.

I did know of one older woman who ran a general store in a small town in western Cyprus, she confessed to charging tourists more.

OMG!!!!!!!!!! "Getting used to"....how painful. I found wearing a condom took getting used to, it did not cause me such trauma that I had to give up sex.

Building styles and local preferences in household layout, etc. vary all over the world....there are definitely some I would not want to get used to, but ditto the U.S.

I have lived in old houses and condo buildings, and new ones, and one house built to my specifications. None of them were like what I would have found in most parts of the U.S., and the arrangements for electric, water, phone, etc. varied from place to place - not a tragedy or major problem in the lot. At present I live in a moderately warm climate year round in an uninsulated six-room condo with large sliding glass doors in four rooms. I use electricity for everything, including heating during cold periods. The monthly annual cost is only slightly higher than what I paid for electric in a rented apartment with central heating in the U.S. My internet, TV and phone are cheaper than what I paid for TV/internet in the U.S. when I lived there.

The cost of an automobile is atrocious. The price of gasoline is very high. My car is ten years old, spotless outside and in, and has, thus far, only required the normal amount of annual maintenance. I never think twice about the cost of gasoline because I save on the cost of other things, so it is a trade-off for me.

Obviously, my observations apply to experiences based in southern Europe. They would not be the same if I had lived in other places.

Your generalities, however, are rubbish as there are so many differences from area to area around the world, or within a single country.
You beat me to it.

My expenses are higher than yours, but that's because I'm in France, which is a very expensive country.

Even so, it all works out when we factor health care and the children's free (and excellent) education. (We're not retired.)

Juliette, in Northern France
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