Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Wednesday, August 6, 2014

Retirement Living Abroad

Panama

Many Americans dream about living overseas, yet do not realize that living is different than visiting.  Before you retire to a foreign country, consider not just weather and cost of living, but also healthcare; safety; tax and visa requirements; and how friendly the country is to foreigners.  Depending on your goals, here are some possibilities:

  • Establish a base for traveling abroad.  Culture, history and cuisine make Europe a popular draw for many North Americans.  Yet, if high dollar areas like Paris are not in your budget, consider a place where your money will go further.  These may include Brussels, Vienna and Dublin.  You may even consider areas throughout Spain. 
  • Experience a small-town life.  This idea can be appealing to people seeking foreign culture in a more intimate setting.  Colonials are grabbing cottages that have come on the market as the French and Italian countryside grays.  Prices are stagnant in both countries, thus the areas offer great values. 
  • More bang for your buck.  Mexican cities of San Miguel de Allende, Cuernavaca and Guanajuanto have been popular with cost-conscious retirees.  Those loving eco-tourism are also drawn to Costa Rica and Ecuador. 

See Deborah L. Jacobs, The Best Foreign Retirement Havens, Forbes.

 

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Elder Law, Estate Planning - Generally, Travel | Permalink

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