Where can a US citizen retire outside the US? (community, states, relatives)
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Spain or Portugal are often recommended as retirement destinations for Americans. The annual income requirements for Spain seem to be in the $36-40K range for two persons for a retirement VISA. I read on one blog where a family of four Americans purchased Spanish health insurance to include dental for $1600 a year in 2016 but of course, they were not seniors. Both of those countries have mountains although maybe a drier climate than what you are used to.
After a year of residence, Spain allows even seniors to join their national health care plan at an affordable price. France allows it much sooner, but France is more expensive than Spain.
Yes, at age 60 I discovered that I am 5 years too old to emigrate to New Zealand, even though the country has identified a Critical Shortage in my profession and I planned to work there for 5 or more years after the move. Most developed countries have substantial societal safety nets in place for the aged and infirm. They don't want people moving there only to gain the benefits without working to pay the taxes which support these nets.
Some countries, Norway is in this group I believe, will not allow recent immigrants to participate in the Health Care plans for a specified number of years after arrival...Employment and taxes paid do not change this restriction The unanswered question is, if 95% of the population is covered by the government Health Care Plan, where can the other 5% turn to buy a private policy?
No matter how old you are Americans can always buy health insurance from AARO, Association of Americans Resident Overseas.
(Didn't we just discuss this same topic a few months ago?)
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.
Happy to know you are moving forward with your return to Ajijic. It is a beautiful town with lots to do.
I loved living in Mexico and have wonderful memories of our time there. We also came back to the USA to care for elderly parents who are now gone, unfortunately my DH just doesn't want to go back.
Mexico is a good option if one wants to be able to easily return to the USA. The area mentioned has good weather all year. Lake Chapala does have the largest USA expat population, it is easy to live there without knowing the language, (good and bad).
Anyone considering a move to a foreign country should closely examine the culture. Mexico our nearby southern neighbor is very different, but it is still a western culture. If you consider an eastern culture, consider the differences, decide if you will enjoy them. Do you enjoy a sense of adventure in your daily life or do you want predictability most of the time? First know who you are before you consider a different country. Go spend some time there before the big move.
Yes, Ecuador is very popular, as Golfingduo mentioned. That is where we are. We longed to be on the beach and with our low income, could never find that in the U.S. with the associated very low COL.
(Texas actually had affordable beach condos but COL was outrageous)
We have a new luxurious 2 bed/2 bath condo right on the sand for $115,000. Property taxes are $45 annually. The beach is vast and deserted.
We have a maid for $3 an hour.
We can join the national health care plan for $80/couple/month.
Residency requirements are $800 guaranteed income per month per couple, or a $25,000 real estate or CD purchase.
Most expats retire to the higher elevations where it is spring-like all year. We just wanted the beach, where it is 80 degrees all year with considerable humidity. Not fond of the latter, but can't have it all.
There are downsides of course. No police presence; you are responsible for your own protection. Petty theft is common. It is mostly a cash society and I dislike walking around with a lot of cash. Consumer goods are very expensive (imported) and low quality. Groceries and restaurants are about 1/2 U.S. price.
I do worry if something major medical comes up, if the local facilities will be adequate. Might have to travel to a big city to get full treatment. But that was how it was for us in our rural U.S. property. 45 min. to hospital and 2 to 5 hours to full trauma center. So this isn't so different for us, which factored into our choice.
We live well (for us) on $1,400 a month and not sure we could do that "back home". I've not budgeted any travel yet though. It's a huge decision and I hear 1/2 of expats don't make it. So far, we're happy.
BTW, not so much for the op but those who are curious from the thread title... I consider Buenos Aires to be an overlooked gem to most Americans, a vibrant, sophisticated, beautiful city with more in common with Spain/Italy it can seem sometimes than with most of Latin America, plus it is very inexpensive. Spanish would be mandatory, they have a peculiar accent there it seems.
Also Santiago Chile is very nice as well, both countries are worth a visit.
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.
I wouldn't go anywhere Third World. Canada and the UK would probably be okay.
I considered Cuenca, Ecuador at one time but then they starting having some civil unrest and I thought better of living there. The only place I would ever consider outside of the USA would be Australia or maybe Ireland. But I'm pretty sure I won't be leaving my country.
OP - are you just looking for a lower cost of living?
I wouldn't go anywhere Third World. Canada and the UK would probably be okay.
I wouldn't rule out all 3rd world countries. We lived in Mexico for 5 years and are in the process of returning there after we had to return to the US for a family situation that has since resolved.
BTW, we are very fortunate in that we can afford to live pretty much anywhere, so it's not a financial decision.
I think everyone should live in a foreign country for a few years. It's challenging, rewarding and educational.
I am a huge fan of Andy Lee Graham and subscribe to his YouTube channel. He sure knows how to pinch a penny! He is far more fearless than I in some of the places he's been and he never stays long enough in one place to get a visa or health insurance. But he does have a lot to offer and is very entertaining.
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