Why Americans are Retiring Overseas

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tennisplyr
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Why Americans are Retiring Overseas

Post by tennisplyr » Mon Apr 07, 2014 6:10 pm

Interesting article on why baby boomers are retiring overseas. Was wondering how many of you are doing this or contemplating it?

http://www.huffingtonpost.com/suzan-has ... 14031.html
Last edited by tennisplyr on Mon Apr 07, 2014 6:22 pm, edited 1 time in total.
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Re: Why American are Retiring Overseas

Post by steve_14 » Mon Apr 07, 2014 6:18 pm

I hope to retire early for a while abroad, then move back here after 65 for the cheap health care (Medicare).

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Re: Why Americans are Retiring Overseas

Post by Wagnerjb » Mon Apr 07, 2014 6:58 pm

From the article:
But they were worried they didn't have enough money saved. They were afraid that the home they owned in Baltimore, which they hoped to rent out, wouldn't hold its value. They wondered if their IRAs would ever rebound.

Most of all, they worried about how they would be able to afford health care if they stopped working. (They'd be facing health insurance premiums of at least $1,000 a month.) What could they do, they wondered, and where could they go where their money might go further?
Are you asking if other Bogleheads have not saved enough to retire in the USA? Or are you asking if other Bogleheads - who have options to retire anywhere - are retiring in other countries because they are attracted to the experience?

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Re: Why Americans are Retiring Overseas

Post by RadAudit » Mon Apr 07, 2014 7:06 pm

You do realize that this is a puff piece for a company pushing overseas retirement?
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Re: Why Americans are Retiring Overseas

Post by 209south » Mon Apr 07, 2014 7:19 pm

Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)

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Re: Why Americans are Retiring Overseas

Post by Johm221122 » Mon Apr 07, 2014 7:32 pm

I use to want to retire in Mexico, but things change.Just seems too dangerous now

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Re: Why Americans are Retiring Overseas

Post by staythecourse » Mon Apr 07, 2014 7:53 pm

RadAudit wrote:You do realize that this is a puff piece for a company pushing overseas retirement?
Do you really not believe It is a real option for many? My opinion/ prediction this will be a natural alternative to the upcoming situation for many americans. Many folks do not have adequate retirement savings. For many their social security check is their main source of income. Where do you think their limited resources will give them their best bang for their buck, U.S. or outside? Many folks will also live longer and need some sort of assistance. Manual labor/ help is MUCH cheaper abroad then here.

The only real obstacles I see in this being a common option is: 1. Too innovative of a concept currently, 2. Quality health care abroad, 3. Not seeing extended family, i.e. grandkids growing up.

The first two is a great avenue for some innovation. I can see retirement communities being advertised in AARP and such in the next decade. If they haven't already. I see American hospitals being started in foreign countries staffed with American trained doctors. Specialists flying in for a week to do surgery and fly back to the U.S. With dropping reimbursement to physicians in the U.S. I see many physicians more then willing to fly out to make some bucks on the side.

I see this as an area of private equity, VC, and start ups growing to fill an apparent need in the near future.

Will be interesting who becomes the big player to start it all.

Good luck.
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Re: Why Americans are Retiring Overseas

Post by pinhead » Mon Apr 07, 2014 8:12 pm

Look into Malaysia or Thailand.

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Re: Why Americans are Retiring Overseas

Post by Steelersfan » Mon Apr 07, 2014 8:30 pm

We bogleheads are a very broad community full of folks with the right socio-economic attributes to consider retiring abroad. Many of our friends are probably in the same category.

So how many of us or our friends have actually done it? I don't have any.

I suspect very, very few.

I think this is a piece from someone who had a publication quota and said to themselves, well that's sexy and interesting, no one has written about that lately.

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Re: Why Americans are Retiring Overseas

Post by Wildebeest » Mon Apr 07, 2014 9:02 pm

Great article except that it was a powder puff to sell the book and most likely their services.

The WSJ had an article about a couple, sold their house, car and possessions and would live 6 months in an apartment in the center of Paris, and then move to London, and then to Rio De Janeiro etc for less expense that staying home.

My understanding is that you can live very well in Ecuador for a fraction that you would spend in Florida.

However as a Boglehead, I rather stay where I am since I have saved enough to be comfortable and I like where I live. I doubt that the draw for Belize, Ecuador, Malaysia is there other then for the most adventurous and by the time it seems like a good idea for the masses, it most likely has become less of a deal.
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Re: Why Americans are Retiring Overseas

Post by kramer » Mon Apr 07, 2014 10:59 pm

Yes, a puff piece with little information.

I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.

Also, I was struck by this quote from the article:
Besides, there's just a lack of civility in general in the U.S. these days, especially when it comes to how older people are treated."
What? I have been away from the USA for about 6 and a half years and so I notice things when I visit that people living in America tend to ignore. On my last visit, I was particularly struck by just how polite Americans are to each other in public.

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Re: Why Americans are Retiring Overseas

Post by Pacific » Mon Apr 07, 2014 11:06 pm

pinhead wrote:Look into Malaysia or Thailand.
Those two countries in particular do not make my top 10 (though one can get cheap flights now on Malaysian Airlines for obvious reasons). :)

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Re: Why Americans are Retiring Overseas

Post by Gnirk » Mon Apr 07, 2014 11:42 pm

Would never consider retiring outside of the US. Family means too much to us.

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Re: Why Americans are Retiring Overseas

Post by dgdevil » Tue Apr 08, 2014 12:25 am

kramer wrote:Yes, a puff piece with little information.

I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
You should write an eBook for would-be expats. You'd make a killing. I'd buy it.

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Re: Why Americans are Retiring Overseas

Post by Professor Emeritus » Tue Apr 08, 2014 4:11 am

DW and I also hold Irish Passports. We have pensions and excellent health insurance and could retire anywhere. But daughter #1 and grandson live 5 miles away and daughter #2 lives 35 miles away. For a very small unscientific convenience sample , the 3 EXpats we met in Costa Rica were all Divorced and remarried and either childless or alienated from their children. It is a very nice place and health care is an attraction.

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Re: Why Americans are Retiring Overseas

Post by retired recently » Tue Apr 08, 2014 6:26 am

I lived/worked outside of the US for a lot of my career, retired at 40, but came back to raise my son here. Since returning we have been fortunate to continue to travel. My wife and I plan to spend a lot of time overseas once our son enters college. Costa Rica is ok but I thought Thailand is much better and we will head there for a few months for sure.

I like the US too and will definitely spend time here also.

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Re: Why Americans are Retiring Overseas

Post by market timer » Tue Apr 08, 2014 6:44 am

Outside of certain areas (e.g., NYC, San Fran), the US is a very cheap place to retire, especially if you qualify for Obamacare subsidies or Medicare. This assumes you want a first-world standard of living--from basic things like potable water to a decent car. My current plan is to raise my family overseas, semi-retire in my late 30s / early 40s, and return to the US when my oldest child is close to college age (my early 50s). My ideal retirement location would probably be a low cost of living college town.

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Re: Why Americans are Retiring Overseas

Post by wander » Tue Apr 08, 2014 6:50 am

kramer wrote: I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
Although you can live anywhere on the planet, you cannot deny that the dollar worth more outside of the US considering healthcare and other expenses ...

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Re: Why Americans are Retiring Overseas

Post by market timer » Tue Apr 08, 2014 6:55 am

wander wrote:
kramer wrote: I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
Although you can live anywhere on the planet, you cannot deny that the dollar worth more outside of the US considering healthcare and other expenses ...
This is true for low-skilled services, but not for tradable goods. How much money does a typical retiree spend on low-skilled services? For example, I imagine doing my own cooking when I'm retired. Healthcare is actually a bargain in the US for retirees, given Obamacare and Medicare.

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Re: Why Americans are Retiring Overseas

Post by katnok » Tue Apr 08, 2014 7:19 am

I am not sure if I will retire outside the US, but if I do that will be India (home country), and the most likely reason would be healthcare.

Why would healthcare be an issue? I am in that field, and I believe that there is a large influx (and this is only going to get worse) of incompetent and dishonest people practicing medicine. I see this pretty much daily. Believe it or not, control of physicians by non-physicians is getting out of hand and is quite likely keep competent and well meaning future doctors away from medicine, leaving only the incompetent in the field. I have already told my wife that I would try to prevent my kids from becoming physicians or other healthcare providers.

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Re: Why Americans are Retiring Overseas

Post by bpp » Tue Apr 08, 2014 9:10 am

kramer wrote:Yes, a puff piece with little information.

I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons.
I agree with kramer. I would even venture to guess that people who move abroad (or, for that matter, domestically) for financial reasons would be least likely to be happy long-term with that decision.

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Re: Why Americans are Retiring Overseas

Post by Andyrunner » Tue Apr 08, 2014 9:19 am

Gnirk wrote:Would never consider retiring outside of the US. Family means too much to us.
I think this is why most people don't consider retireing overseas. Cost of flights and time to travel to see family would just be too much.

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Re: Why Americans are Retiring Overseas

Post by steve_14 » Tue Apr 08, 2014 9:23 am

wander wrote:
kramer wrote: I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
Although you can live anywhere on the planet, you cannot deny that the dollar worth more outside of the US considering healthcare and other expenses ...
That's true, but it's changing - I was just in Thailand, where I met some expats who'd retired with US pensions and SS there. Things were great until a few years ago, when despite higher inflation the baht got stronger, not weaker against the dollar and these folks were getting poorer every year. I was also in Costa Rica recently, where going out for pizza now costs the same as in the US.

And while there are plenty of places that are still cheap, they also tend to be more dangerous, will poor healthcare if something bad does happen to you.

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Re: Why Americans are Retiring Overseas

Post by traveler90 » Tue Apr 08, 2014 9:28 am

Is my understanding correct that Vanguard won't allow overseas investors? What does one do if they have accounts with Vanguard and decide to move overseas? Seems easy enough to move an IRA, but what about taxable accounts?

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Re: Why Americans are Retiring Overseas

Post by bpp » Tue Apr 08, 2014 9:39 am

traveler90 wrote:Is my understanding correct that Vanguard won't allow overseas investors? What does one do if they have accounts with Vanguard and decide to move overseas? Seems easy enough to move an IRA, but what about taxable accounts?
I think the general advice is to hide the fact from them. They have been known to lock people out of their own accounts if they detect logins from outside the US.

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Re: Why Americans are Retiring Overseas

Post by jidina80 » Tue Apr 08, 2014 9:42 am

kramer wrote:. . .
I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
I agree completely. I retired (early) overseas because of the lifestyle - not financial considerations. My friends in the U.S. were still commuting to work, whereas in Fiji it's more of a weekend 24/7.

Financial benefits of retiring abroad often evaporate when one factors in airfare and perhaps a little place in the States to come back too.
traveler90 wrote:Is my understanding correct that Vanguard won't allow overseas investors? What does one do if they have accounts with Vanguard and decide to move overseas? Seems easy enough to move an IRA, but what about taxable accounts?
I log in to Vanguard regularly from overseas, and occasionally make a transaction - not a problem. You just need to maintain a U.S. address. They're not going to dump expats and overseas military service men and women - they only need a U.S. address.

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Re: Why Americans are Retiring Overseas

Post by TSR » Tue Apr 08, 2014 10:09 am

My aunt and uncle retired to an ex-pat community in Panama. They did not quite do it for financial reasons, as he had decent money. They did it because he had some political views that some folks might consider to be extreme, most of which assumed an imminent colapse of the American financial/political system, fascistic erosion of liberties, etc. I have no intention of getting into those political beliefs (which the rest of my family are a bit bewildered by) here -- just pointing out that people have various motivations, only some of which are based on not having saved enough.

It's hard to get their honest impressions because people tend to retroactively justify their own decisions, but my impressions are as follows:

Pros
-Relatively cheap (not something we talk about, but I get this sense from facebook posts)
-Lots of nice people around, both ex-pat and Panamanian
-New adventures, especially including learning Spanish and getting used to a new culture
-Medical care seems good and readily available (I don't have a strong impression of the cost of this or how they are funding it)
-Technology makes staying connected relatively easy

Cons
-Distance -- a quick trip would be easy if they lived in Panama City or right on a beach or something, but they're way out in the country. We have a small family, and to my knowledge nobody has visited them yet -- including one child of hers -- because it's a heck of a trip. Aunt has returned to the U.S. several times but uncle has not.
-Social isolation (I think this is a problem any time you move anywhere new for retirement. Obviously it's worse early on when you're still trying to meet people, but it may be heighened by language/cultural barriers.)
-Cultural differences, especially with regard to the freedoms that my uncle held dear and wanted to secure by leaving the U.S. (for example, he couldn't bring ALL of his guns with him).
-Awkward divestment of U.S. financial interests -- he had most money tied up in rental real estate, which he would no longer be able to oversee. Foreign retirement required selling most of it at a somewhat inopportune time (I'm sure he did well though).

I'm sure there are many other pros and cons, but I just wanted to offer these up to show that people do actually do this. I think they would consider themselves happy with their choice and I have no real reason to question that.

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Re: Why Americans are Retiring Overseas

Post by Polaris » Tue Apr 08, 2014 1:33 pm

I seem to remember an article about retiring overseas in one of the popular personal finance magazines several years ago. One US couple went on a vacation (don't remember the exact location) and had a wonderful time. The people were friendly, the area was beautiful, and it was a very inexpensive place to live. Based on this, they decided to move there when they retired. However, things were different when they actually moved there. The locals that were very friendly when they were tourists spending money resented them as residents and ostracized them as outsiders. It got to the point where they couldn't go out for groceries without having people harass and spit on them. :(

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Re: Why Americans are Retiring Overseas

Post by tidalwave10 » Tue Apr 08, 2014 2:06 pm

Polaris wrote:I seem to remember an article about retiring overseas in one of the popular personal finance magazines several years ago. One US couple went on a vacation (don't remember the exact location) and had a wonderful time. The people were friendly, the area was beautiful, and it was a very inexpensive place to live. Based on this, they decided to move there when they retired. However, things were different when they actually moved there. The locals that were very friendly when they were tourists spending money resented them as residents and ostracized them as outsiders. It got to the point where they couldn't go out for groceries without having people harass and spit on them. :(
Hope that was an "n" of 1. Man bites dog rather than dog bites man. If it bleeds, it leads?
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Re: Why Americans are Retiring Overseas

Post by greg24 » Tue Apr 08, 2014 2:11 pm

209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: Alabama, Mississippi, New Mexico, etc.

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Re: Why Americans are Retiring Overseas

Post by linguini » Tue Apr 08, 2014 3:08 pm

market timer wrote:
wander wrote:
kramer wrote: I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations.
Although you can live anywhere on the planet, you cannot deny that the dollar worth more outside of the US considering healthcare and other expenses ...
This is true for low-skilled services, but not for tradable goods. How much money does a typical retiree spend on low-skilled services? For example, I imagine doing my own cooking when I'm retired. Healthcare is actually a bargain in the US for retirees, given Obamacare and Medicare.
Yep, as someone who has spent some time living in South America, I can say with confidence that the significant reductions in cost of living in at least some developing countries are almost entirely focused in housing, food, health care, and labor-intensive activities (restaurants, taxis, artwork and handicrafts, printing, custom jewelry, personal employees and servants, etc). So if you want to live like an American outside the US (eat American foods that you buy in a supermarket, own a nice mobile phone and computer, have a quality internet connection in your home, regularly visit the US, live in a nice place in a safe neighborhood near expat or tourist communities, own a nice car, drink bottled water, speak mainly English, watch cable TV in English, don't barter at markets, eat frozen or canned or prepackaged meals instead of home-cooked meals from local ingredients), you might be spending close to however much you would retiring in low cost of living areas in the United States, if not more. And there are stressors that can pop up when you live in a country with a different culture and standard of living from the one you grew up with, and you might not even realize what they will be before you move there. For example, how willing are you to live somewhere where you can't flush toilet paper, taxi drivers try to tack 50% on their fares because you're white, and if you go to someone else's house you have to either ask your hosts if they have boiled their water for you or risk getting a stomach ailment? And unless you are planning on isolating yourself entirely to an expat community, there are going to be local cultural differences that are difficult to anticipate, like figuring out the right way to dress and greet people and host, which can be very difficult if you don't already know people living in the area who can help guide you.

These are not insurmountable obstacles, so I don't want to discourage anyone from living or retiring abroad. In fact, I think it's a great idea to do things that are outside your comfort zone so that you can gain experiences that can't be had in the United States and expose yourself to other cultures and ways of life. But the basic point is that if you want to retire abroad, do it because you really do want to live in that country. After all, you pretty much have to live like a local in a lot of ways in order to save a lot of money compared to living cheaply in the United States. Maybe spend a few months or a year as a trial in the country you want to retire to before you buy property and decide to make it your permanent home. But if all you want to do is spend less money in retirement, you can usually just choose to live more frugally in the United States before taking on an expensive and risky project of permanently relocating yourself to a developing country.

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Re: Why Americans are Retiring Overseas

Post by G12 » Tue Apr 08, 2014 3:28 pm

greg24 wrote:
209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: [*]Alabama, Mississippi,[*] New Mexico, etc.
Don't do it.... :wink:

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Re: Why Americans are Retiring Overseas

Post by madbrain » Tue Apr 08, 2014 5:13 pm

G12 wrote:
greg24 wrote:
209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: [*]Alabama, Mississippi,[*] New Mexico, etc.
Don't do it.... :wink:
Yeah, you would pretty much have to hold me at gunpoint to make me retire in those places.
On the other hand, Thailand is quite nice and I wouldn't need much push. It's not that cheap, though.

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Re: Why Americans are Retiring Overseas

Post by marcos123 » Tue Apr 08, 2014 5:44 pm

bpp wrote:
kramer wrote:Yes, a puff piece with little information.

I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons.
I agree with kramer. I would even venture to guess that people who move abroad (or, for that matter, domestically) for financial reasons would be least likely to be happy long-term with that decision.
Could not agree more. Personal finance was certainly not the primary motivation for ER'ing to Brazil. Culture and lifestyle (after previous stints here) were much bigger drivers.

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Re: Why Americans are Retiring Overseas

Post by Professor Emeritus » Tue Apr 08, 2014 6:11 pm

madbrain wrote: On the other hand, Thailand is quite nice and I wouldn't need much push. It's not that cheap, though.
:D The joke at our Phuket hotel was that if you brought your own girl you had to pay corkage :D

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Re: Why Americans are Retiring Overseas

Post by G12 » Tue Apr 08, 2014 6:52 pm

madbrain wrote:Yeah, you would pretty much have to hold me at gunpoint to make me retire in those places.
On the other hand, Thailand is quite nice and I wouldn't need much push. It's not that cheap, though.
My dad lives in a town of ~ 28k on the MS river, it is fairly well known and even attracts international tourists. I grew up there on the western side of the MS river. Believe me, many Californians and other out-of-staters have moved there and decided to move on within a few years, I could never live there nor most any other part of the state. Well, those that could get their money out of the higher end homes most of them bought. Same for AL although possibly some coastal or northern parts might be worth visiting, but not staying. Could be serious culture shock for some. I am a big believer in renting for an extended period in a new locale, and that would go triple for outside the US unless they have lived/worked there in the recent past.

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Re: Why Americans are Retiring Overseas

Post by rob » Tue Apr 08, 2014 7:08 pm

Pacific wrote:
pinhead wrote:Look into Malaysia or Thailand.
Those two countries in particular do not make my top 10 (though one can get cheap flights now on Malaysian Airlines for obvious reasons). :)
Thailand is really worth considering - I know it's out of the normal US person's world but it really can be a great option for this. Modern medical e.t.c., beautiful country, comparably cheap cost of living e.t.c.
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien

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Re: Why Americans are Retiring Overseas

Post by greg24 » Tue Apr 08, 2014 7:14 pm

madbrain wrote:
G12 wrote:
greg24 wrote:
209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: [*]Alabama, Mississippi,[*] New Mexico, etc.
Don't do it.... :wink:
Yeah, you would pretty much have to hold me at gunpoint to make me retire in those places.
On the other hand, Thailand is quite nice and I wouldn't need much push. It's not that cheap, though.
If you think the culture shock of Alabama is big, wait till you move to Thailand.

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Re: Why Americans are Retiring Overseas

Post by madbrain » Tue Apr 08, 2014 7:18 pm

greg24 wrote: If you think the culture shock of Alabama is big, wait till you move to Thailand.
Having visited both, I'll pick the Thai culture shock . Heck, my body clock is still on Thai time from my vacation to Thailand 2 years ago.

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Re: Why Americans are Retiring Overseas

Post by Crimsontide » Tue Apr 08, 2014 7:28 pm

greg24 wrote:
209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: Alabama, Mississippi, New Mexico, etc.
Middle tier??? Wow, we're moving up in the world Alice :happy

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Re: Why Americans are Retiring Overseas

Post by Crimsontide » Tue Apr 08, 2014 7:36 pm

madbrain wrote:
G12 wrote:
greg24 wrote:
209south wrote:Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-)
There is a middle tier that I would consider well before another country: [*]Alabama, Mississippi,[*] New Mexico, etc.
Don't do it.... :wink:
Yeah, you would pretty much have to hold me at gunpoint to make me retire in those places.
On the other hand, Thailand is quite nice and I wouldn't need much push. It's not that cheap, though.
Really, you would rather live in Thailand than the Southern US?

dgdevil
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Re: Why Americans are Retiring Overseas

Post by dgdevil » Tue Apr 08, 2014 7:44 pm

Crimsontide wrote:
Really, you would rather live in Thailand than the Southern US?
Pick your third world poison. While ambulatory and still brimming with joie de vivre: yes. While vegetative, well, it probably doesn't matter where you are.

BTW, "Southwest" US definitely worthy of consideration - Santa Fe, Albuquerque, etc.

madbrain
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Re: Why Americans are Retiring Overseas

Post by madbrain » Tue Apr 08, 2014 7:46 pm

Crimsontide wrote:
Really, you would rather live in Thailand than the Southern US?
Absolutely. Someone in an interracial, same-sex marriage just isn't going to feel at home in the Southern US in this lifetime, I am afraid.
While the LGBT rights are still not great in Thailand, I would still prefer to live there . Thailand really is a beautiful, diverse country.

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G12
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Re: Why Americans are Retiring Overseas

Post by G12 » Tue Apr 08, 2014 8:03 pm

dgdevil wrote:BTW, "Southwest" US definitely worthy of consideration - Santa Fe, Albuquerque, etc.
Visited many times and had good times, NM would be on the "potential" list, it may be a place where I enjoy visiting more than living. Would still have some concerns longer term regarding water availability.

Back to AL/MS, small southern towns can be very cliquish, it may be like that in small town anywhere. My mother-in-law grew up in central LA, not L.A., about 80 miles from where she and my dad have been living for > 20 years and she still does not feel accepted.
She is not the easiest person to get along with, that's likely part of it. My wife could not be paid to live there and she grew up a few hours away in NOLA.

BillyG
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Re: Why Americans are Retiring Overseas

Post by BillyG » Tue Apr 08, 2014 8:07 pm

madbrain wrote:
Crimsontide wrote:
Really, you would rather live in Thailand than the Southern US?
Absolutely. Someone in an interracial, same-sex marriage just isn't going to feel at home in the Southern US in this lifetime, I am afraid.
While the LGBT rights are still not great in Thailand, I would still prefer to live there . Thailand really is a beautiful, diverse country.
I guess you're not considering New Orleans to be the South (you're right, it isn't).

We've thought about splitting time between New Orleans during the their great fall, winter, and spring, and living elsewhere during the hot hurricane season. It's almost like living in a foreign country considering they have their own music, food, culture, and language.
Billy

dgdevil
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Re: Why Americans are Retiring Overseas

Post by dgdevil » Tue Apr 08, 2014 8:11 pm

I get the sense from visiting NOLA and environs that unless all branches of your family have lived there for 150+ years and served on all the right Mardi Gras committees, gone to the right schools and balls, then you will always be an outsider. We're talking New Orleans - not London or New York high society - a grungy town that should be 20 feet under water right now.

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Wildebeest
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Re: Why Americans are Retiring Overseas

Post by Wildebeest » Tue Apr 08, 2014 8:53 pm

I have not interest in Asia as in that is foreign to me and I will never speak the language fluently, understand the culture , what life is and will always feel that I am an outsider.

I would not want to live in culture I can not understand especially if I do not speak the language. I would hate to live in the South West or Southern Californina where there is only green is if you have to water it. Hopefully I will be dead when the water will run out and every thing green will wither away. I love the passing of the seasons .

I recall how shallow I was when my accountant mentioned that Florida, Texas, Nevada, Washington and Alaska have not state income tax and I was ready to move ,but on further review it would take more to move than money.

My preference would be to live 2 to 3 months abroad in an condo /house /apartment and get the lay of the land. Unfortunately getting older means for me that I like and appreciate my old friends and am less ready for new adventures and new friends, who have little in common with us and it is hard or give up the routines I am used to,

If we were going to retire overseas I would want to rent for at least 1-2 years and retain a home base in the States and it would be in Europe and France, Spain, Portugal or the Netherlands would top the list , but we would be first do an immersion course in language and culture and we would want to make sure, we would not be considered "ugly Americans".
The Golden Rule: One should treat others as one would like others to treat oneself.

hmw
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Re: Why Americans are Retiring Overseas

Post by hmw » Tue Apr 08, 2014 9:37 pm

I am a Canadian living in the US. We just stayed in Manila for 4 months last year with my in laws. To live a western lifestyle in Manila is not really that cheap. A nice stand alone house in a secured village in Manila can cost 1 to 2 million dollars. A new two bed room condo at Shangrila residence cost about 500k. Many imported cars cost way more than the US due to taxes. I shopped at the local S&R (a copy of Costco), and the prices are comparable to the US. Gas cost more than the US.

Somethings are much cheaper. A big Mac cost about half of the US price. You can hire a full time driver for $200 a month. House help is even cheaper. My FIL saw a US trained cardiologist for $35 per visit.

desiderium
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Re: Why Americans are Retiring Overseas

Post by desiderium » Tue Apr 08, 2014 9:55 pm

staythecourse wrote: I see American hospitals being started in foreign countries staffed with American trained doctors. Specialists flying in for a week to do surgery and fly back to the U.S. With dropping reimbursement to physicians in the U.S. I see many physicians more then willing to fly out to make some bucks on the side.
Actually, many hospitals, including those in europe as well as in asia are set up to cater to american's needs and expectations, all at much cheaper costs. This article http://www.nytimes.com/2013/08/04/healt ... .html?_r=0 is one example of someone getting a hip replacement in belgium for ~13K. US hospitals and specialists are the worlds best at delivering high-cost health care. They will not be able to compete abroad for excellent health care delivery at a competitive price.

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