Skip to comments.Expat retirees enjoy a life reminiscent of an earlier time
Posted on 07/17/2017 12:46:44 PM PDT by where's_the_Outrage?
This article is reprinted by permission from NextAvenue.org.
Im seeing a yearning of many people around my age to return to a simpler time, like when we were growing up. My evidence: the hundreds of interviews Ive done for Best Places in the World to Retire and the studies we did in which we asked expats about their lives abroad.
Interestingly, many Americans and Canadians have not only moved abroad partly to search for a life reminiscent of an earlier time, but quite a few tell me that theyve found it and in some very unlikely places, including Mexico, Panama, Belize and Nicaragua.
Heres what they told us: Less government involvement
It may sound odd that the government in countries considered to be socialist would have less government involvement than in the U.S., but in the day-to-day lives of the locals, its true. Whether these governments would want to be more involved or not, they simply dont have the resources to do so. That means locals find themselves doing some things that the federal and state governments often do in the U.S.
Having the government less involved creates an entirely different dynamic than north of the border, explains Dr. Santiago Hernandez, formerly from the Chicago area and now practicing in Ajijic, Mexico, on Lake Chapala. If theres a problem, most locals dont expect the government to fix it, so they either live with it or fix it themselves. This creates more community cohesion and a feeling of involvement and belonging.
While this is true of locals, it is even truer among expats, especially the fix it themselves part.
(Excerpt) Read more at marketwatch.com ...
However, it is not all sunshine either. Nothing major I have experienced, more irritations or doing without. One such irritation is getting food you really like, such as dill pickles, beef, jalepenos, velvetta, etc.
One prime expample of less Government here is that my wife opened an internet shop from her home. She did that by buying computers and opening her doors. Then while operating she spent the next 6 months working with the Government to get the business license and comply with the minimal codes.
This Is How You Could Live in the Philippines on $1,000 a Month
So when the bankrupt US government confiscates your 401K, you’ll be happier you are forced to lead a simpler life
A thousand bucks a month will go a long, long way in many countries.
Food, shelter, basic medical care, even housekeepers and drivers as needed.
Stupid question time: does Amazon deliver to Thailand? I just searched ‘ Dill Pickles ‘ on Amazon and there they are.
Do you have a blog or can you recommend a site for ex-pats retiring in Thailand?
I read an interesting article from the Charlotte Observer that
stated the SS administration is sending 380,000 retiree checks
out of the country every year as of 2014. That number has increased 50% from a decade ago.
Looks like this is the route I will be headed for any number of reasons. But what a sea change in this country when so many people can not afford to retire in the their own country.
It’s a damned shame.
>>So when the bankrupt US government confiscates your 401K, youll be happier you are forced to lead a simpler life<<
That is a concern but a highly unlikely one.
Sine their 401(k) is basically the primary instrument for most people’s retirement, you would be putting basically ALL retirees into the poor house. That would cause a run on SS as most like me would have to pull that trigger much earlier than originally planned.
My current plan makes me self-sufficient at 62 without using SS (which I will defer to 70. Why/how could the government take that away and then have to pay for me?
I don’t see it.
I’d cross off the list anyplace without the rule of law.
I live part time in Colombia...love it.
Thailand and the Philipines do not intrigue me unless I go there simply as a vacationer. I think a lot of the love of these kinds of places is based on men who get involved with foreign females (the kind of guys who don’t like American chicks).
If I want to live in a earlier age, I could move to interior Maine where people still don’t use electricity, form their own militias, and mind their own business. I’m not ready for that either. No place is perfect and I’m sticking with the USA.
So you don't live in the USA then?
I’ll be an ex-pat at some point but my main motivation is weather with USA cost-of-living being a second consideration.
However, the simpler solution is make your own pickles. Which also helps employ you with a hobby instead of joining the Expats at the local bar to sit around and Bitch.
What, you wouldn’t like a cute young Asian cabana boy to massage your... feet ? ;-D
Same here! I'm most likely headed to Colorado when I retire to settle near my younger son, his wife and my grandson. My daughter and older son are thinking of moving there as well.
Yes they said the argentina government is corrupt and inept, but precisely because of that it's easy to remain under the radar. don't bother them and they won't bother you.
I live part-time in the Mayan Riviera. LOVE IT. And one way tickets from Cancun to my summer home near Spokane is $200...
I know several US Expats here that exist off of their Social Security and nothing else. I just shake my head at their lack of planning.
As far as the 401K, that is a topic upon itself. What I had to do was convert it to an IRA, when I did a 401K distribution they took 20% taxes, which led to IRS complications. However, you cannot open an IRA if you are outside the US, but you can if you make a quick trip back to the USA.
Furthermore, again if you plan right, you convert your 401K and/or traditional IRA to a Roth and because of decreased income you end up with little or no income tax due.
And another little tidbit, SS and Military Retirement are not considered wages and therefore cannot be put into an IRA. (yes there are always workarounds)
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