Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Retiring Overseas and other Retirement topics.
Why would Americans to leave their country not just to visit, but to retire overseas and live in a foreign land? Why retire to Mexico or retire to Costa Rica or any other point abroad? The reasons aren't much different than those that sent some of our ancestors from the Old Country in search of a better life. The cost of living is a big one. There's a perception that living in some foreign countries is cheaper than at home, but life abroad carries hidden costs. Iimmigration fees, getting--or losing--government benefits, taxes, work permits, and negotiating apparently labyrinthine foreign bureaucracy can be a daunting challenge.
|Jennifer Mathes, Ph.D.|