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My husband and I have been checking different areas to see where we might be able to retire outside the US but it seems they have such high income restrictions (and/or other restrictions) that we won't qualify since we won't be working. We were looking into Canada and the UK. Does anyone have any suggestions? Would love to hear from others that have made the move.
Thanks so much for any input.
Yes that is a consideration my wife and I are considering. We have options but generally our expat will be more world travel rather than living in some place. Most of the Central and South American countries have an easy path to residency.
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Originally Posted by Tall Traveler
I've worked most of the last 15 years abroad on 5 different continents and studied this a bit. Cheap livable countries are Peru, Mexico, Thailand, Philippines, Malaysia. Inexpensive and more developed countries are Spain, Portugal, and Chile.
BTW, you can find moderate climates even in tropical countries by going to elevation for those that have it.
Wife and I own an apartment in Marbella, Spain which we considered residing there most of the year but that would subject us to Spanish income taxes (bad for us). I would seriously consider Lisbon or southern Portugal as they have a more flexible Golden Visa program than Spain from my understanding.
I like Chiang Mai, Thailand and Arequipa, Peru for inexpensive but still interesting and comfortable lifestyle.
you missed one that has gained popularity over the last few years and that is Ecuador.
OP this is where we are considering being expat. Look at the climate in places like Cuenca or Loja. They range between low 60 to low 80. Ecuador has two summers a year as well. the reason for such a moderate climate is elevation. Both of those cities are about a mile up from sea level. When you go lower to say Guayaquil or Salinas they are on the coast. The temperature will be warmer but there are the cooler ocean breezes that help out. Strictly COL you can easily retire there on SS. In fact that is all you need show for income to get residency.
As for DW and myself we will live a year or two in Korea. My wife can get an F1 visa as she was born there. I would have to either find a job, invest in a company ($100K is required), or leave and return every 90 days. We have family there and some of those have successful businesses so the investment in a company is a doable thing for us. Our reason for expat in Korea for long term is Asian travel. It may turn out we like that better or we try other locations after the Asian travel is done. Hence that is part of the reason for Ecuador. They have a very relaxed lifestyle there. Relatively calm and happy people. They offer discounts for seniors (65 and older) even on airfare on the leg out of Ecuador. Oh and we are going to visit there exploratory in October or at least that is the time frame I have been looking at. The wife saw that it is more rainy there in that month which by the way is the second summer of the year. I will post my findings when I return from there.
Basically, any first world country will not accept you unless you have multi-millions in your retirement accounts. They want young, well-educated or highly skilled immigrants, not retirees. So you have to look at less-developed countries like Costa Rica, Ecuador, Thailand (to name just three that are popular with expatriate retirees).
That's not true at all. I don't know why people are so negative about US citizens retiring to other countries. As long as you are self supporting and don't have a criminal record, most First World Countries are open to immigrants (unlike us). But they do want you to have both of these qualities. However, you will need to learn another language to give yourself more options. And learning another language is good for your brain too. My wife and I have been looking into this and you might want to add Iceland to your list. It has among the highest life expectancy in the world, low taxes, and the fastest internet service. Finland is another good option, and Italy has a low cost of living (we are looking at Palermo specifically). Ireland is also a good choice, but the cost of living is higher than the other countries I mentioned.
The vast majority of Americans do not even have a passport, have not traveled much overseas (unless living in foxhole is counted), only speak 1 language and have no idea of the fascinating history and culture of many countries. Add to that, they have very little savings and grew up in a consumer culture. Other issues are Health insurance, you need to expatriate before age 65 in order to buy Health Insurance in most countries. You generally need to have a desire to live in a big city with walkable neighborhoods or good transportation.
All services,hospitals,ambulances,doctors,specialists, embassies are located in the cities. One of the main advantages is the ability to have incredible household help. We have a full time Nanny for my two year old, who also cooks breakfast and lunch and cleans the apartment 6 days a week. I have friends that have had full time nursing care or companions for reasonable prices. Unfortunately, you need to be able to communicate in their language if you want access.
We retired in 2003 at ages 50/51. Moved and lived fulltime in Mexico 2008-2012; my only regret is that we did not move there as soon as we retired. Unfortunately we had to sell our Mexican home and move back to the East Coast US to care for my FIL. Sadly he died in late 2015; for most of 2016 my DH had to work on his Dad's estate and trust.
We decided to move back to Mexico....in fact we just purchased a home there and will move in April.
It's fairly easy to qualify for permanent visas or temporary visas; but if you can't you can make a run to the border every 6 months and get a new tourist visa.
Link to photos of our little village (Ajijic) which sits on the shores of Lake Chapala (Mexico's largest lake) just below the Sierra Madres...great mountain AND water views! Bonus: only 30 minutes from Guadalajara Airport. And.....National Geographic has rated the Lake Chapala area as the 2nd best climate on planet earth. And just so you know it's not just tacos and bean restaurants (not that there's anything wrong with that), because Ajijic attracts the professional class from GDL, we have a wide range of eateries. I just got back 2 weeks ago and with the peso, we are getting excellent steak dinners for the equivalent of 7 USD.
I moved here 13 years ago, when it was extremely affordable. Bought a oceanfront penthouse for about 100k, now worth about 400k. While I rarely go to the beach, I enjoy the breezes and looking out over the cliffs. https://www.google.com.pe/search?q=m...S4AXMQ_AUIBigB
Currently 63 and do not have private health insurance. Wife is 35 and works at a JIC accredited hospital, so doctors would see me as a courtesy. I will pick up a private policy before I turn 65, which covers everything and is accepted by all doctors for about $300.00/mth. Also the premiums are capped at age 70 at about $350.00 /mth.
Thank you so much Aredhel and Llep for your response. It's what I was afraid of. I have seen about the only places that might accept us are Panana and Costa Rica but not sure that's what we want. Not islandy types - love mountains and change of weather. I'm sure we'll end up stuck in the US but thought I would ask. Thanks again.
Where do you currently live? I'm sure you can find something in Rural US that would work for you if you haven't already looked into this possibility?
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