Emigrate for retirement?

[+ JEC]

Hubs and I have talked passively for years about relocating to another country/countries for retirement.   The advancing of the Christian Nationalist movement and the possibility of a second Trump term are stepping up those conversations, and our researching options.  We are still a few years from our planned retirement, and could change our financial plan if needed.

Interested to hear from others who may be thinking about expatriation, or better yet from those who have.  Lots of things to consider from pathways to citizenship, cost, cost/quality of life, social change/isolation, healthcare, etc.

Love to hear the pros, cons, what others are thinking and have experienced.

Thanks, Jack

 

Edited July 18 by JEC

[+ DERRIK]

It's obvious that significant numbers of Americans will have the same thought.  In the past when Hollywood types spoke about leaving if some republican took office - I always marked that up to BS.  

I predict smart entrepreneurs are planning now how to market to large numbers planning to get outta town for four years 

[NipLuvr212]

On 7/18/2024 at 3:51 PM, Vegas_Millennial said:

 Florida, Mexico, and many countries in the European Union are on my list of places that I've visited, enjoy, and will consider moving to.  As for Canada, only Quebec seems to be keeping their culture alive by mandating French be spoken at government meetings and schools.

i would rule out France as well.... if you look at the amazing French soccer teams, many of the players are from nations that you may object to. Hmmm... and Germany. Wait,,, there goes Spain.... am I missing any? Well, there is Uganda - as I recall, Idi Amin ensured the purity of his nation by killing and/or exiling the South Asians that had established homes and business there long ago. Oh... and the Khmer Rouge sought to rid their nation of infiltrators from other cultures as well.

Wait - have I missed any? Good luck, man.

[+ nycman]

My only advice is that I wouldn’t predicate my timing on the political climate in America.

It seems childish, dramatic, and most likely not in your best interest. 

Yeah, if it got extreme (e.g. outlawing homosexuality), I’d make like a post-Weimar Jew and head for the boarder. But realistically, we’re still pretty far from that moment. Despite all the chicken little drama.

I love the idea of retiring abroad. Right now my top 4 are: Portugal, Costa Rica, Greece, and St. Barts. The biggest factor for me will be how much $$ I have to waste before I die. I’m on track for one of the lesser Greek islands, but still dreaming of St. Barts.

[+ Vegas_Millennial]

1 hour ago, NipLuvr212 said:

i would rule out France as well.... if you look at the amazing French soccer teams, many of the players are from nations that you may object to. Hmmm... and Germany. Wait,,, there goes Spain.... am I missing any? Well, there is Uganda - as I recall, Idi Amin ensured the purity of his nation by killing and/or exiling the South Asians that had established homes and business there long ago. Oh... and the Khmer Rouge sought to rid their nation of infiltrators from other cultures as well.

Wait - have I missed any? Good luck, man.

Agree.  The one good thing about nations with a growing Christian influence, as much as seculars might hate it, is it's the only thing holding back the wave of Muslim law.

Edited July 18 by Vegas_Millennial
Edited to clarify the culture of Christianity

[NipLuvr212]

2 minutes ago, nycman said:

 

I love the idea of retiring abroad. Right now my top 4 are: Portugal, Costa Rica, Greece, and St. Barts. The biggest factor for me will be how much $$ I have to waste before I die. I’m on track for one of the lesser Greek islands, but still dreaming of St. Barts.

Might I also recommend Thailand? Extreme weather besides, it is a lovely place with good people, and a well establishe expat community!

[NipLuvr212]

1 minute ago, Vegas_Millennial said:

Agree.  The one good thing about Christian nations, as much as seculars might hate it, is it's the only thing holding back the wave of Muslim law.

Christian nations? You mean Vatican City?

[+ Vegas_Millennial]

5 minutes ago, NipLuvr212 said:

Christian nations? You mean Vatican City?

I mean Christian Nationalist movement.  I edited my post to avoid confusion.  The original poster expressed concerns about the advancing Christian Nationalist movement in the nation.

Edited July 18 by Vegas_Millennial

[NipLuvr212]

2 minutes ago, Vegas_Millennial said:

Agree.  The one good thing about Christian nations, as much as seculars might hate it, is it's the only thing holding back the wave of Muslim law.

Oh wait - I did miss one.... Germany in 1933 I believe also enacted laws to keep itself christian. 

[NipLuvr212]

Just now, Vegas_Millennial said:

I mean Christian culture.  The original poster expressed concerns about the advancing Christian movement in the nation.

thanks for the clarification.... i was not (and still somewhat remain not) aware that there was such a thing as Christian culture. I thought it was a religion. My bad.

[+ JEC]

7 minutes ago, nycman said:

My only advice is that I wouldn’t predicate my timing on the political climate in America.

It seems childish, dramatic, and most likely not in your best interest. 

Yeah, if it got extreme (e.g. outlawing homosexuality), I’d make like a post-Weimar Jew and head for the boarder. But realistically, we’re still pretty far from that moment. Despite all the chicken little drama.

I love the idea of retiring abroad. Right now my top 4 are: Portugal, Costa Rica, Greece, and St. Barts. The biggest factor for me will be how much $$ I have to waste before I die. I’m on track for one of the lesser Greek islands, but still dreaming of St. Barts.

As I said, we've been talking about and committed to this idea for years. I don't think its being overly dramatic to have researched options "just in case".  Whatever happens, we are charting a course for that future...and I'd rather have done some research on our options VS running for the nearest border.  Mexico and Canada are both on the list (Hubs is eligible for Canadian citizenship), as are Spain and Portugal.  Greece and Malta too.

[TruthBTold]

I have been recently looking for some place to go to because America is going in the direction it is. xxxxx  Before the COVID onslaught Ecuador was always considered a retirement paradise, particularly the city of Cuenca.  Cuenca had mild temperatures pretty much all year round and the country's currency was equal to the American dollar.  When COVID devastated the country and general chaos erupted I gave up any plans to go there.  Now I am looking at Uruguay.  It is easy to get residency and the temperature is mild in most parts.  It is a very stable democracy and was the first Latin American country to recognize the right for homosexual relationships (and that was early in the 1930s).  I have to delve more into the country to make any decision.  Also, it is a ferry ride to Buenos Aires where a part of my family lives. 

Reference to a President removed. 

[Johnrom]

I would recommend spending a couple months in a place before thinking about making that kind of major move overseas.  I have heard of both positive and negative experiences of folks who have done this.  And yes 🙌 definitely find a place that has some sort of expat community nearby.  

[+ Vegas_Millennial]

1 hour ago, JEC said:

Hubs and I have talked passively for years about relocating to another country/countries for retirement.   The advancing of the Christian Nationalist movement and the possibility of a second Trump term are stepping up those conversations, and our researching options.  We are still a few years from our planned retirement, and could change our financial plan if needed.

Interested to hear from others who may be thinking about expatriation, or better yet from those who have.  Lots of things to consider from pathways to citizenship, cost, cost/quality of life, social change/isolation, healthcare, etc.

Love to hear the pros, cons, what others are thinking and have experienced.

Thanks, Jack

 

Here is a similar discussion focused on retiring in Vietnam, but it's applicable to most any country with a weaker economy: 

 

[+ sniper]

Remember if you live long enough, eventually you almost certainly will find yourself in a position where someone needs to take charge of your care. Possibly for a very long time. Moving far away from all relatives generally isn't a great idea for that reason, unless you really have "f you" levels of wealth and trusted advisors to manage your affairs...which probably insulates you from most of what you fear about election outcomes anyway.

As an example of what could go wrong, if you're NOT rich, what happens if you move overseas and they decide Social Security is only payable to US residents? Everything is gonna be on the table in a way people have been assuming it won't in 10 years or so.

[jawjateck]

If I cut and run, you will find me in Grenada, Nicaragua. It's wonderful!

[BonVivant]

It always sounds like a great idea. But… moving away from the USA is not all roses and champagne. You are going to a totally new place. What about friends, family, connections? The health insirance. The language? It can be isolating; how will you meet people? 
 

Another approach to consider: move to a lower cost area of the USA and then travel different parts of world. Then come to home base. Rest & relax. Spend the holidays.  And then repeat. 
 

 

Edited July 18 by BonVivant

[Johnrom]

That really is a smart option.  Moving to a state with low expenses and property taxes, downsizing to a small house or condo and doing a lot of travel is a wise idea. I know some folks who did that and they go on a dozen cruises a year. 

[moonlight]

It's fun to fantasize about, but when you really get into the reality of it I think it's something that 99% of people who initially consider it will decide against.

I'm an American for life. But France is the one country I still sometimes fantasize about. It's surprisingly accessible as an American expat due to the favorable US-France tax treaty.

[Johnrom]

I really like the idea of living frugally in the USA and then enjoying really long trips and splurges to foreign places you love. Its the best of  both worlds !  

[wanderlust307]

10 hours ago, nycman said:

I love the idea of retiring abroad. Right now my top 4 are: Portugal, Costa Rica, Greece, and St. Barts. The biggest factor for me will be how much $$ I have to waste before I die. I’m on track for one of the lesser Greek islands, but still dreaming of St. Barts.

I would cross out the Greek islands. They are isolated during the winter. Also St. Barts is quite expensive.

[BonVivant]

2 hours ago, wanderlust307 said:

I would cross out the Greek islands. They are isolated during the winter. Also St. Barts is quite expensive.

One should also consider a good English language expat community of retirees, WFHs, “economic refugees”, etc.  You will need the live interactions and connection. Plus a place with good and easy access to transport and travel. 
 

Portugal is a good place to look. Wonderful people, great climate, excellent cuisine.  Pretty affordable. Good expat community. English spoken. 1st world. 

[Cooper]

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[+ Pensant]

If I moved abroad, I’d go to either coastal Slovenia (Istria) or N Portugal (Porto or Braga).

[cany10011]

I like living here in NYC. Between my house in  Toronto and NYC, I'm pretty content with the food and cultural offerings. I have a friend that just got his golden visa in Portugal after purchasing a 500K apartment in Lisbon (you only need that amount to buy a visa- believe the program was closed a few years ago) and he's always encouraging his friends to get a place there with him. But honestly, I love traveling and don't see myself just staying in one place. So perhaps I will stay in Toronto for 6 months (April -September)  and NYC for 3 months (Oct-Dec) (probably fall/early winter) and then early spring somewhere else.

I can afford to enjoy living here and my social circle and friends and family are here so i don't know if i want to move elsewhere. 

Also for those considering moving elsewhere, are the tax issues and FBAR filing requirements etc... I need to seriously consider whether keeping the US citizenship is worth it down the road (especially with future inheritance taxes etc).