Sidney
Veteran Member
Are you planning to become a citizen of another country after retiring and moving your money or just an American living abroad? Big difference with regards to taxes, healthcare,...etc.
Sidney
Sidney
To which country to retire - revised version
- Thread starter LeoKa
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The friendliest place on the web for anyone who enjoys boating.
If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
Bay Pelican
Moderator Emeritus
Becoming a citizen of another country doesn't reduce your US taxes unless you give up your US citizenship. I believe the US is the only country to have a world wide taxing system so that income earned outside the US is taxed. The same with the estate tax.
The problem with the system is not just the tax but the reporting. Many banks, businesses in foreign countries are not willing to report income in English and in accordance with the western calendar.
This is one reason so many Americans are renouncing their citizenship
We had a friend who was in the process of moving to New Zealand permanently until he realized they were going to tax his US military pension.
Even renouncing citizenship only helps you on future non-US earnings. You incur a huge penalty, much like estate taxes on assets you already own and you pay a higher tax then on US earnings. If you want to not be a citizen, best you start the process at 20 years old, not 50 or 60.
Wxx3
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What about safety, as in personal safety? boat safety?
I don't even like stopping in places where I have to worry about either the boat or my personal safety.
Cost of living?
Climate?
I don't even like stopping in places where I have to worry about either the boat or my personal safety.
Cost of living?
Climate?
Wifey B: For me, it must first be on the water. Then bad climate or lack of safety would both be deal killers for me.
Yet, I can't and won't move because too many people who mean too much to me where I am.
markpierce
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I don't like the idea of living in a third-world country, or in a "rich" enclave in same. Further, I'd avoid a country without substantial civil rights or those where you're guilty unless proven innocent.
Not to be underestimated. For me, for almost a decade now, there has always been a slight gnawing in my stomach thinking about the implications of this. You live your life walking on eggshells in such a place, but I hate to admit it, but it's one of the reasons why people are so well behaved here - that plus the threat of being deported.
Haylands
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Rain/Clouds and than more Clouds/Rain.... lol
There is nowhere in Europe that is warm enough all year round, I suffer with arthritis and need a warm climate for the UK's winter months, average temps in December and January, even at the foot of Italy is single figures (centigrade) Anywhere in Europe is expensive, especially southern France...
The Canaries is warm enough and owned by Spain but it is too close to Africa and pirate country...!!
That's why we are looking to Florida, Caribbean, Central America....
We did look at countries to buy a house in a few years back and Malaysia was the cheapest "first world" country, I lived there years ago, it's very pleasant, but, as with a lot of these places, corruption is rife....
Good luck with the hunting...
Here is an excellent page on the subject which also discusses disability pay.
Taxes on Disability and Retirement Pensions | Military.com
hollowriver
Member
Roatan or the Bay Islands of Honduras. They speak english and has one of the better reefs. Keep your dinghy locked. The mainland is not to safe at all.
Rio Dulce, Guatemala is where a lot of the Caribbean cruisers go in the hurricane season. Fresh water and surrounded by mountains. Lots of marina's, boat works,restaurants etc.
Rio Dulce, Guatemala is where a lot of the Caribbean cruisers go in the hurricane season. Fresh water and surrounded by mountains. Lots of marina's, boat works,restaurants etc.
Nomad Willy
Guru
Where to retire? The US of course.
But the best place to live may not be the same.
Our parent residence is a bit like our bio parents .. a given not a choice.
And having grown up here and spent our lives here means it would be unlikely that living elsewhere would be better. Despite that I have the feeling there is somewhere I’d be better off.
But the best place to live may not be the same.
Our parent residence is a bit like our bio parents .. a given not a choice.
And having grown up here and spent our lives here means it would be unlikely that living elsewhere would be better. Despite that I have the feeling there is somewhere I’d be better off.
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One of the biggest considerations for retirement is future medical needs and costs. Most countries are aware of this and it can therefore be difficult for older people to gain permanent residency or citizenship.
For the OP my suggestion would be to keep a home base somewhere in the USA that you return to regularly. Then have a couple of places reasonably close for commuting that you spend extended periods of time in.
A boat somewhere safe in Central America (and some great suggestions have been made for that), and perhaps a little place dirtside in Columbia given that you like it there. As well, you can always take extended travel to Europe or Asia at off-peak times to avoid the crowds and keep costs down. Retirement gives you lots of options!
Just budget as if you were still in the USA. Most times you will be a little ahead, in some places maybe not but then reduce time in those even if they are great. I wouldn't try to overthink it, or try to make long-term plans. Flexibility has lots of advantages.
For the OP my suggestion would be to keep a home base somewhere in the USA that you return to regularly. Then have a couple of places reasonably close for commuting that you spend extended periods of time in.
A boat somewhere safe in Central America (and some great suggestions have been made for that), and perhaps a little place dirtside in Columbia given that you like it there. As well, you can always take extended travel to Europe or Asia at off-peak times to avoid the crowds and keep costs down. Retirement gives you lots of options!
Just budget as if you were still in the USA. Most times you will be a little ahead, in some places maybe not but then reduce time in those even if they are great. I wouldn't try to overthink it, or try to make long-term plans. Flexibility has lots of advantages.
Most countries worldwide have similar situations, including the US. If you can't otherwise quality for entry or a visa or residency, you can always buy your way in through an investment. In South Florida, businesses regularly sell, even if they've never made money, just to qualify the purchaser. Not surprisingly, one can buy their way into almost any country in the world. Many in South Florida own businesses that they couldn't even legally work in.
EB-5 VISAs are one way to do it. For as much as $1,000,000 or as little as $500,000 depending on the local economics, immigrant investors can become lawful permanent residents.
Nowhere in Europe you buy your self a way in for just € 250.000..!!!!!!
texasnielsen
Senior Member
Did the OP ever identify a decision? Most of the thread is from last year. Anyone have any experience with Lake Chapala, MX?
Retirement & Cost of Living in Lake Chapala and Ajijic Mexico
Retirement & Cost of Living in Lake Chapala and Ajijic Mexico
Lake Chapala
We spent September of last year in Ajijic (Lake Chapala) in a rented house. Nice weather (thunder storms every night, but wonderful days). A really large ex-pat community (US & Canadians), very friendly and engaged. Some wonderful food (latino & European). Many gringo housing enclaves with U.S. amenities. Easy air access to Guadalajara through many U.S. air ports.
However, most secondary roads and residential streets are not paved (more like river rock than gravel) and your vehicle's suspension will not be happy. Also, when you leave your gringo compound, you are in third-world surroundings. We thought twice about moving permanently, and voted no.
We spent September of last year in Ajijic (Lake Chapala) in a rented house. Nice weather (thunder storms every night, but wonderful days). A really large ex-pat community (US & Canadians), very friendly and engaged. Some wonderful food (latino & European). Many gringo housing enclaves with U.S. amenities. Easy air access to Guadalajara through many U.S. air ports.
However, most secondary roads and residential streets are not paved (more like river rock than gravel) and your vehicle's suspension will not be happy. Also, when you leave your gringo compound, you are in third-world surroundings. We thought twice about moving permanently, and voted no.
AusCan
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Most people would not consider moving from their home country regardless of where the are living. They have become accustomed to the good aspects and have learned to accept all the faults of their mother country. For the majority, it would take a catastrophe to get them to move elsewhere.
I know several Iraqi people who had their American immigration visas approved, (they were interpreters for the US during the invasion) but the family decided it was too big of a change to move.
Personally, I like change and would consider living in a dozen different countries. Why choose one?
Its a small world these days. You can travel home in 24 hours from almost anywhere in the world.
I know several Iraqi people who had their American immigration visas approved, (they were interpreters for the US during the invasion) but the family decided it was too big of a change to move.
Personally, I like change and would consider living in a dozen different countries. Why choose one?
Its a small world these days. You can travel home in 24 hours from almost anywhere in the world.
A sweatbox 8 months of the year
I suggest Lake Victoria, Kenya---you can ship your boat there and cruise indefinitely 
There is always Acapulco or Loetto Mexico if you like streets running in blood and roadblocks full of burning trucks. Go to www.borderlandbeat.com for the news.
There is always Acapulco or Loetto Mexico if you like streets running in blood and roadblocks full of burning trucks. Go to www.borderlandbeat.com for the news.I suggest Lake Victoria, Kenya---you can ship your boat there and cruise indefinitely
Plus its easy to drive down from the states if you have a M60 tank.
Simi 60
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South East Asia for us, sooner rather than later.
For ten years prior to buying this boat we used to pick a country and spend 3 mths checking out marinas, boatyards and general facilities, livability, medical, internet speed, security.
Initially hotels and a quick stay and onto the next spot but in later visits we'd revisit favourite spots and take a pool villa or serviced apartment , rent or buy a motorbike and immerse ourselves for the whole 3 months to see if we could live there.
Can be done incredibly cheap, compared to average Australia if you do your research and live a few miles outside the western/tourist centres.
For ten years prior to buying this boat we used to pick a country and spend 3 mths checking out marinas, boatyards and general facilities, livability, medical, internet speed, security.
Initially hotels and a quick stay and onto the next spot but in later visits we'd revisit favourite spots and take a pool villa or serviced apartment , rent or buy a motorbike and immerse ourselves for the whole 3 months to see if we could live there.
Can be done incredibly cheap, compared to average Australia if you do your research and live a few miles outside the western/tourist centres.
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Boca of the Bulls is the same heat and humidity
However its a good place to buy a boat as so many owners swallow the anchor there.'A first world' lifestyle in a 3rd world country costs more than in a first world country"
siestakey
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Boca of the Bulls is the same heat and humidity
Do you mean Bocas del Toro Panama? we have been many times
