Thanks to all of you who have responded to our call for questions about Expat living.
Today’s question is one that is very relevant to many of the more senior members of our community, and asks items that many of you are sure to be interested in. As always we appreciate your input, and welcome constructive additions to the dialogue.
I need some practical advice. We are very senior (75 & 78) retirees who are getting concerned with the way the U.S. is heading and even at our ages, are considering leaving the country. If we were younger we would know right where to go. I have been a traveler all my life and have always loved new cultures and adventures. I remember well staying in a Fijian village for 5 nights and what a fabulous experience it was. Of course now we need good medical and more comfort than would have been necessary in our younger life. We also need to be somewhere that if there is not good close medical they would have medical evacuation of some sort. Weather is also important and we had always thought we would go to Mexico. Now, that becomes a concern. Finances are not a huge problem but we don't want to spend more than necessary for our needs. We have also considered Panama. Any information you can give us would be very much appreciated.
Welcome to the crowd that is awakening to the wrongs of the USA’s fiscal behavior. There of course is no easy answer to your question, as there is no “one size fits all” solution, but first and foremost are you medical concerns. At your ages, you must be covered by Medicare, and I don’t think they cover anything outside of the USA, except some things in Canada and Mexico. Check out this link supplied by your trusty friends the Government: http://www.medicare.gov/publications/pubs/pdf/11037.pdf
It is my understanding that when you move abroad, you are excluded from the program, but that would also increase your Social Security benefits. Depending on where you choose to reside, there may or may not be private or government insurance available to you, because of your ages, however, Costa Rica, which has relatively decent medical care, and is just 2 hours from Miami, offers residency opportunities that have grown more complicated recently, but by contacting a diplomatic representation, they would be able to fill you in on all requirements. (It is a must to get an immigration attorney in the country of your choice.) Costa Rica has compulsory medical insurance for all residents, and that is regardless of pre-existing conditions or age, thereby putting itself on the top destination in a warm climate. Then there is Panama, offering good medical care in the capital, but marginal care outside of it.
All European countries have excellent medical care, but there is the Schengen accord (see my recent article at http://www.expatdailynews.com/2011/05/schengen-accord-update.html ) to be considered, which allows you to stay for only 90 days at a time, after which you have to leave for 90 days. That of course makes it difficult, and none of the EU nations are actively looking to add to their ranks, rather, they are more looking to reduce the ranks of foreigners, erecting roadblocks to immigration to all.
Then of course come family considerations: Do you have kids or grandkids that you will want to see occasionally other than on Skype? If you are closely attached to your loved ones, then it will be very difficult if you move to a place like Malaysia, which I wrote about yesterday, http://www.expatdailynews.com/2011/06/malaysia-retirement.html, where you would be welcomed with open arms, minimal hassle to get residency under the MM2H (Malaysia My Second Home) program, and again in the larger towns and cities, world class medical care is available. There are a number of other destinations with higher cost of living, such as Thailand and Indonesia available as well, but in South Asia, Malaysia would be my first choice because of political stability and the better cost of living.
Australia is only looking for qualified professionals and skilled workers, along with any warm body that can be abused in the mining industry, which has kept the country out of the current global crisis, due to the insane commodity prices created by speculators. New Zealand is pretty much in the same boat, as far is immigration is concerned, with many Kiwis fleeing the island nation to Australia and the USA amongst other nations to escape the punishing cost of living and taxation, as well as lack of decent jobs for the young entering the job market.
Since you spent time in Fiji, as I did, Fiji has unfortunately gone to hell in a hand basket. Since 1986, there have been several military coups with a steady deterioration of the quality of life, due to lack of the major source of foreign income, tourism. However, both Samoa and Tonga are relatively easy to get residency in, if you have a nice nest egg. And remember one thing. When you first get to your new home, rent, don’t buy! It’s cheaper, you don’t commit yourself forever, and when one of you passes, the surviving spouse will not have to deal with complicated laws dealing with inheritance taxes and the likes. Keep it simple. Internet access is almost universal now, but the primary consideration is definitely safety for yourself and financial security, so make sure that your funds are in a safe location, in a currency that is likely to stay afloat, when the USS United States goes down. Good Luck with your search and don’t wait too long!
Jamie Douglas
San Rafael, Mendoza
Where the Malbec Wine is Always Fine!
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If anyone would like to contact me personally via Skype, for further advice or scathing criticism, please contact me via email, jamie@expatdailynews.com, and we can set up a time to chat. My advice is free, and I am not hustling real nor unreal estate, nor am I in any way trying to sell any products or services. Donations of course are always happily accepted and can be made via PayPal or other arrangement.
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