Posted on 10/17/2019 10:51:54 AM PDT by Red Badger
Though they ‘love America,’ this couple has chosen to put their roots down in the coastal town of Denia in Spain.
Call ‘em Texpats.
Kevin and Susan Bryant, 55 and 48, spent most of their lives in Texas, recently in retiree hot spot Austin. But “when Austin became a mini Silicon Valley, we were priced out,” Kevin, a now-retired history teacher and principal, tells MarketWatch.
History buff Kevin says he’d always wanted to live in Europe — “in a castle, specifically, but I let that part go,” he jokes — and began hunting for where the couple might retire on his educator’s pension. They considered more than a dozen countries, finally settling on Spain for a variety of reasons, including its relative affordability, good health care, and that his teacher’s pension could qualify as income to help him get residency there.
To find the right spot, they toured Spain, rejecting Barcelona because it was too big; Tarragona because it was too far north (they wanted somewhere a little warmer); and Peñiscola, because, though they liked it, Susan jokes, “I could never tell my mother I lived in a town with that name.”
(Excerpt) Read more at marketwatch.com ...
I was in Cordoba discussing this with an ex pat. It seems that $500K “investment”, combination of real estate and back deposit will get you permanent status. Considering that health insurance for 50 year olds, with high deductible in US is so high, that 500K is automatically paying off, plus it buys a place to live, plus Spain is such a beautiful interesting place.
So you have no problem paying taxes so Government employees can retire overseas on a Taxpayer paid pension at 48 and 55?
Try taking you social security at 55 and see what you get.
I have tried the Christian health sharing plan. so far it works...but I don’t trust it for huge payouts like heart attack or coma.
Marketwatch did an earlier bio on a Massachusetts schoolteacher who moved to Boquete, Panama and said it would be “insane” to live in the United States.
I’ve also retired to Boquete this year and there’s no way I could live independently in the U.S. on the $1500-$1600/mo income I have here. But I can live decently in Boquete on that cost using the same American currency.
The difference is health care costs, rent and food. I also sold my car in the States and get around on buses, taxis and catching rides. No insurance. No gas. No upkeep. Buses are $1.25 for “pensionados”. Taxi rides are $2-$5 each way. Most meals are $15 or less. Most rentals are all-bills-paid and furnished, including gas, electric, cable and wi-fi.
Obviously, the downside is a country like Spain or Panama could be overrun by socialists at any time. That’s what has happened to other retirement havens like Costa Rica and Ecuador. But, without Trump, the same would be happening in the U.S. and is happening in California.
If you decide not to expect to live “like an American”, you can really enjoy the calmer and happier life and lack of political correctness. Last month, the public schools were treated to a month-long, government-approved period of Bible lessons - try doing that in an American public school.
Do I miss some things from the States? Definitely. But this is an adventure for me and I am not just here for the economics but also to support a church with a heavy outreach presence.
Plus the hiring process for public school teachers is notoriously corrupt.
One district here got more than 3000 resumes for one opening. The job went to a relative of a schoolboard member.
Just another way to reward your relatives and cronies.
IF he was a teacher, I don’t know about TX, but in PA 20 years in and you get full pension and benefits for life. so if you start right out of school, you can be retired by your mid 40s with full pension and health care until you drop dead.
Good for you OH. Good luck
“Average salary of a doctor in Spain: $45K.”
I’ll bet this guy’s pension is way more that that. And we are supposed to worship public school teachers like they are some kind of selfless saints. In the mean time, private sector pensions no longer exist.
Maids and caregivers are cheap, the hospitals are good, and the elderly are respected.
But you know, if you don't have family, it can be quite lonely.
That is something.
My wife and I pay $620/month combined which includes dental. The usual deductibles and out of pocket.
Sounds good, as long as you remain healthy, mobile, and independent.
“But you know, if you don’t have family, it can be quite lonely.”
Hookers are cheap............
Texas teachers insurance changed several years ago (pretrump) for the worse. It also affected retired teachers. They used to have a platinum level insurance- now they are like the rest of us.
The problem with this debate is that our healthcare system is trash, but so is everyone elses. Nobody has compromised to reach an agreement. $5,000 ambulance rides cannot be debated as a pro, but neither can the governmemt running it. Add massive undocumented immigration, and you’re right back to square one.
I’ll be 55 in November. I retired from the military in 2013 after 27 years of service. Then I worked for an engineering company for three years and quit. I consider myself retired and don’t see a problem with it.
One main reason people can’t/don’t/won’t retire sooner is they have fallen into the debt slavery system.
This reminds me of something that I read about what happened to General Motors in that what you nowadays pay for a brand new Chevy or Cadillac, that sizeable chunk of what is on the price tag represents healthcare costs and other goodies for GM retirees that the UAW browbeat that company into paying for.
So with your municipal taxes for schools, likely that good size of them doesn’t buy books or sports equipment or cover maintenance costs for the schools in your area, it instead covers pensions for these ones who want to pack it in and play golf and travel and do whatever else they please that good fifteen or even twenty years before many else of us do.
“So you have no problem paying taxes so Government employees can retire overseas on a Taxpayer paid pension at 48 and 55?”
I thought you were talking about the age discrepancy between the retirees. My Dad retired after 30 years at 55.
He’ll be in for a bit of a learning curve once he needs expensive treatment.
Saved and noted, thanks.
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