Comments on: Hidden Costs of Retiring Overseas http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 02:21:27 -0500 http://wordpress.org/?v=abc hourly 1 By: christa guenzel http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-126300 christa guenzel Thu, 30 Oct 2008 21:09:29 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-126300 hi i need an answer to iget checks from germany not much $150 a month once i cash the check i have no proof for the goverment please give me an answer what to do thanks hi i need an answer to iget checks from germany not much $150 a month once i cash the check i have no proof for the goverment please give me an answer what to do thanks

]]> By: thehungrydollar.com http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115571 thehungrydollar.com Mon, 25 Feb 2008 22:45:53 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115571 I have a lot of co-workers that have retired overseas and loved it. They did say that it's not as easy as you might think though. There a lot of considerations that many people don't think about before they take the big leap. I have a lot of co-workers that have retired overseas and loved it. They did say that it’s not as easy as you might think though. There a lot of considerations that many people don’t think about before they take the big leap.

]]> By: Dividend growth investor http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115507 Dividend growth investor Thu, 21 Feb 2008 22:20:33 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115507 I think that the first $40,000 of your income from a different country is subject to the earned income credit tax limitations. But even if you had to pay for healthcare ( provided that you are not very sick, but just plain old ), you might be better off living in a foreign country, where the standard of living is lower. I think that the first $40,000 of your income from a different country is subject to the earned income credit tax limitations.
But even if you had to pay for healthcare ( provided that you are not very sick, but just plain old ), you might be better off living in a foreign country, where the standard of living is lower.

]]> By: Jesse http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115506 Jesse Thu, 21 Feb 2008 21:54:46 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115506 I've found very little use for my dual citizenship (Canada) but this sounds like something I should look into...I wonder how the Canadian government handles things. And PS for serious healthcare the best place to be is the US. Canadian doctors overwhelmingly come to the US for THEIR healthcare for a good reason. I’ve found very little use for my dual citizenship (Canada) but this sounds like something I should look into…I wonder how the Canadian government handles things.

And PS for serious healthcare the best place to be is the US. Canadian doctors overwhelmingly come to the US for THEIR healthcare for a good reason.

]]> By: B http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115502 B Thu, 21 Feb 2008 17:12:25 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115502 You can always renounce your citizenship when you're ready to retire, assuming you don't need Social Security benefits. As a 24 year old, I expect to see approximately $0 from social security anyway. Unfortunately my family has been in the US for 3 generations, and the only other citizenship I'm eligible for is Israeli- but for 1st or 2nd generation immigrants it's a lot easier to gain citizenship in your mother country! You can always renounce your citizenship when you’re ready to retire, assuming you don’t need Social Security benefits. As a 24 year old, I expect to see approximately $0 from social security anyway.

Unfortunately my family has been in the US for 3 generations, and the only other citizenship I’m eligible for is Israeli- but for 1st or 2nd generation immigrants it’s a lot easier to gain citizenship in your mother country!

]]> By: Stu http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115501 Stu Thu, 21 Feb 2008 15:24:13 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115501 Were my wife to work in australia, she would have to pay tax on that in australia, then pay tax again on what she earnt in australia in america! and retiring OS, as you noted, is again all about being taxed. The best thing to do for either retiring or working OS is to revoke your citizenship and become a citizen of wherever you want to go (if you can ofcourse). America is the only country that does this double taxing and it makes things hard on the paycheck :/ Were my wife to work in australia, she would have to pay tax on that in australia, then pay tax again on what she earnt in australia in america!

and retiring OS, as you noted, is again all about being taxed.

The best thing to do for either retiring or working OS is to revoke your citizenship and become a citizen of wherever you want to go (if you can ofcourse).

America is the only country that does this double taxing and it makes things hard on the paycheck :/

]]> By: nickel http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115499 nickel Thu, 21 Feb 2008 13:48:51 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115499 Huh? Huh?

]]> By: Stu http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/comment-page-1/#comment-115498 Stu Thu, 21 Feb 2008 13:22:57 +0000 http://www.fivecentnickel.com/2008/02/21/hidden-costs-of-retiring-overseas/#comment-115498 America is an ASS about working or retiring overseas regarding its taxes and the only country to be such an ass about it too. America is an ASS about working or retiring overseas regarding its taxes and the only country to be such an ass about it too.

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