Retirement abroad is extremely safe when you follow the rules ... or one of the worst investments known to man if you don't. People scream at us, tell us daily, “the country is corrupt, the police want bribes, etc.” And many people who retire abroad and still believe they can trust a foreign government take their life savings, their life’s work, and gamble it away.
Retirement abroad is living in your favorite foreign country. But of people who retire abroad, roughly 95 percent die in their country of citizenship.
Non-Negotiable Rules of Retirement Abroad
1. Do not buy real estate abroad because you will lose money. Of course, you can buy real estate knowing that you are going to lose the money invested. The belief that one cannot lose money in real estate abroad is false when; you can lose your whole investment easily.
2. Do not use the fear visa limitations as a reason not to live in a country. Immigration restrictions are almost irrelevant. Generally, there is way to live in all countries. Think about this: There are business ventures from the USA in all countries, and they grant a way for these people to live there. There are only 1-3 countries on the planet that are close to impossible for retirement abroad.
2. Do not tell the insurance companies you are living abroad. Health insurance, life insurance and the U.S. government deserve as little information as possible. Organizations, governments and companies will use this information against you, making it an excuse to deny you service or rights.
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Basically there is no way to avoid both the U S and new country of knowing you have retired and live in the new country if you are there for more than 3 to 6 months.
Only if you keep on the move as you do Andy can you maybe avoid governments.
Your advice is very good but your last sentence says it all as both countries know who you are and where you are.
As for money, its best to keep a large amount of cash on hand (well hidden away) in case of any government problems, any bank account could disappear overnight.
Being married to a local often helps but they or their family may also rip you off overnight.
I lived in China temporarily and never had a money problem as I used my ATM card, which I guarded religiously, as needed and also kept enough funds on hand for immediate get away if necessary.
Two of the important things people need to know are, where is the Embassy/Consulate and a reasonable escape plan.
I have met many expats who laugh at theses things and think everything is always OK because they are U S citizens. Not so, take a look at Egypt today.
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