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I think to be a successful ex-pat, you have to resign yourself to an increased risk of health issues, and had better be in pretty good health in the first place. Trade off some health security for whatever you think you gain by living abroad.
A lifetime in the US costs about a million dollars in health care and maintenance, which only gets paid out of your US income. You're going to have a shorter life expectancy, but the good news is that it's the non-quality years the get cut off the end. Think about it -- there is a reason why third world life expectancy are shorter than US, and it's not your heredity.
Nonsense.
Healthcare costs in many countries is a small fraction of the costs in the US, and many countries have programs where you can purchase into their socialized medical programs for very little.
It is actually a good economic and healthcare move to leave the US upon retirement.
Healthcare costs in many countries is a small fraction of the costs in the US, and many countries have programs where you can purchase into their socialized medical programs for very little.
It is actually a good economic and healthcare move to leave the US upon retirement.
It's funny because those socialized systems work based on the idea that working adults pay into those systems so the poor, old and infirm in those societies have medical care. If you're a foreign retiree moving there you're essentially a parasite on their system. I wouldn't begrudge anyone there for kicking out those gringo interlopers.
If you want to live in South America, why not move to Miami? It has a large expat - South America culture. You'll still be in the USA and able to earn a living, put money into an IRA and not having to deal with Mexican drug gangs. It's a win-win.
You really think many expats in South America deal with Mexican drug gangs? It's kind of a different continent, hell I don't think expats in Mexico deal with Mexican drug gangs much either.
Quote:
Originally Posted by oceangaia
These places have a lower cost of living if you can live like a local
This isn't necessarily true, one can live like an American and still have a lower cost of living. It just won't be as low as the person living like a local.
Quote:
Originally Posted by oceangaia
Moving to a country with a higher or lower life expectancy will not make your life be longer or shorter so this is a non-factor.
That's a great point, on a macro-scale life expectancy is a horrible barometer of health because it is affected by cultural influences. Lots of Americans are fat and have far more accidents, and this impacts their avg life expectancy regardless of how good the healthcare is.
It's funny because those socialized systems work based on the idea that working adults pay into those systems so the poor, old and infirm in those societies have medical care. If you're a foreign retiree moving there you're essentially a parasite on their system. I wouldn't begrudge anyone there for kicking out those gringo interlopers.
The foreign retiree has to pay into the system just like someone working does, and since they are often ideal consumers their net benefit to an economy is likely quite positive.
The foreign retiree has to pay into the system just like someone working does, and since they are often ideal consumers their net benefit to an economy is likely quite positive.
It would depend on how the system is paid for. A foreign retiree isn't paying income tax in the country or paying social contributions that come as part of employment. Also, a foreign retiree is naturally likely to be quite old and thus far more likely to require extensive medical care than a young local.
Whether they're a net benefit to the economy will depend on just how much they actually leave in money there via purchases made and how that compares to their medical costs. This will likely be quite different depending on the individual in question but also the country's economy. I would be shocked for example if an American retiree was a net benefit to the UK economy if they required say lengthy cancer treatment just because they also buy groceries and so forth in the UK.
It would depend on how the system is paid for. A foreign retiree isn't paying income tax in the country or paying social contributions that come as part of employment. Also, a foreign retiree is naturally likely to be quite old and thus far more likely to require extensive medical care than a young local.
Right, but they are paying into the healthcare system same as the workers. Without knowing how much of that system is supported by those payments it doesn't make sense to declare them parasites since they are in fact paying whether they use the healthcare system often or not. If old people use the services more than so do local old people, of which there are far more than foreign retirees, should the people be clamoring to kick them out of the country too?
Quote:
Originally Posted by Veritas Vincit
Whether they're a net benefit to the economy will depend on just how much they actually leave in money there via purchases made and how that compares to their medical costs. This will likely be quite different depending on the individual in question but also the country's economy. I would be shocked for example if an American retiree was a net benefit to the UK economy if they required say lengthy cancer treatment just because they also buy groceries and so forth in the UK.
Clearly this thread isn't about UK, or any country like UK. Generally a foreign retiree in Latin America buys a nicer home, eats out at nicer places more, etc. than the majority of locals.
Average life expectancy in some common expat countries-
Spain- 83.4
Italy- 83.3
Costa Rica- 80.1
Chile- 80.0
USA- 78.5
Panama- 78.3
Uruguay- 77.7
Thailand- 76.9
Mexico- 74.9
There are a lot of factors at play here. Non-obese Americans live a lot longer than that, no matter where they are.. That's what pulls US average down. Expats have a lot more income, an American couple living on medium SS have more discretionary income than a Thai or Costa Rican wage earner supporting an extended household of six.
Enough home equity to last you two years is nowhere near enough, ideally you'd want enough saved up to buy/rent a home and live on until social security kicks in. Also, keep a close eye on your investments and 401K and be ready to dump it all into cash if needed - Joe seems like a decent centrist guy for the most part but stocks and our ability to save for retirement will be in the world of hurt if we end up with ilhanced aocratic bernienomics farther down the road.
Right, but they are paying into the healthcare system same as the workers. Without knowing how much of that system is supported by those payments it doesn't make sense to declare them parasites since they are in fact paying whether they use the healthcare system often or not. If old people use the services more than so do local old people, of which there are far more than foreign retirees, should the people be clamoring to kick them out of the country too?
Clearly this thread isn't about UK, or any country like UK. Generally a foreign retiree in Latin America buys a nicer home, eats out at nicer places more, etc. than the majority of locals.
Correct. Many of the locals here don't pay at all into the system. It is tiered so that even the poorest get care. We spend a whole lot here supporting the economy of the locals, so I think it evens out.
Plus, the health system and doctors are already getting paid by the government whether or not we utilize it or not. It's a whole different system.
Then the doctors make some extra by seeing gringos on the side, for private pay. That is good extra income for them.
My 15 days in the ER would have bankrupted us in the U.S. just by co-pays and deductibles. Here, cost nothing.
We pay 12% VAT tax here, so we are contributing there too.
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