Comments on: Retire in a Foreign Country – Panama http://gotoretirement.com/2009/01/retire-foreign-country-panama/?utm_source=rss&utm_medium=rss&utm_campaign=retire-foreign-country-panama A Baby Boomer's Journey from Retirement Planning to Retirement Living Tue, 31 Jan 2012 12:54:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: scott lance http://gotoretirement.com/2009/01/retire-foreign-country-panama/comment-page-1/#comment-3521 scott lance Sat, 21 May 2011 04:54:53 +0000 http://gotoretirement.com/?p=734#comment-3521 First...let me say that I DID retire to a foreign country, and I do like it...and the cost of living is REALLY low...and that is for a very comfortable living....Ie: I currently rent a furnished, 1600 sq. ft condo, upscale area, buy what I want, and do what I want, for under 1500 US a month...(this does not include travel costs ) However...there are important things to consider...I have learned : Dont worry about health care...many countries offer great health care, with great doctors, for very low costs...either pay as you go, or buy a local health plan..( At 55+, my wife and I pay about $175 per month for a very good policy) Mostly, you wont need a car...public transportation is cheap and easy When you see the COST of shipping your stuff, you will eventually decide to leave most behind...it costs more to ship it than buy new...you will be limited to some clothes and a few mementos.. You WILL need to learn some of the native language of your chosen county...believe me...you will NOT be able to get by with just english.. You will experience a new way of life...its great !! But if your personality is defined as "Im set in my ways" you will be in for trouble...You will not "like" everything in your new country...and they will not change it for you !!! Make sure your financial house is in order...how will you get money in your new country? Mail? etc. (Many US banks and companies will NOT mail or ship to foreign countries...) Whatever you do...RENT first...( rent is cheap) later if you really like it...look around and then buy or build a place... First…let me say that I DID retire to a foreign country, and I do like it…and the cost of living is REALLY low…and that is for a very comfortable living….Ie: I currently rent a furnished, 1600 sq. ft condo, upscale area, buy what I want, and do what I want, for under 1500 US a month…(this does not include travel costs )
However…there are important things to consider…I have learned :
Dont worry about health care…many countries offer great health care, with great doctors, for very low costs…either pay as you go, or buy a local health plan..( At 55+, my wife and I pay about $175 per month for a very good policy)
Mostly, you wont need a car…public transportation is cheap and easy
When you see the COST of shipping your stuff, you will eventually decide to leave most behind…it costs more to ship it than buy new…you will be limited to some clothes and a few mementos..
You WILL need to learn some of the native language of your chosen county…believe me…you will NOT be able to get by with just english..
You will experience a new way of life…its great !! But if your personality is defined as “Im set in my ways” you will be in for trouble…You will not “like” everything in your new country…and they will not change it for you !!!
Make sure your financial house is in order…how will you get money in your new country? Mail? etc. (Many US banks and companies will NOT mail or ship to foreign countries…)
Whatever you do…RENT first…( rent is cheap) later if you really like it…look around and then buy or build a place…

]]> By: dave abrams http://gotoretirement.com/2009/01/retire-foreign-country-panama/comment-page-1/#comment-3442 dave abrams Thu, 24 Mar 2011 00:17:39 +0000 http://gotoretirement.com/?p=734#comment-3442 what are the irs implications for social security payments and capital gains on securities? if hold stock in a foreign account are my gains exempt from uS tax? what are the irs implications for social security payments and capital gains on securities? if hold stock in a foreign account are my gains exempt from uS tax?

]]> By: Howard http://gotoretirement.com/2009/01/retire-foreign-country-panama/comment-page-1/#comment-1604 Howard Sat, 19 Sep 2009 00:00:49 +0000 http://gotoretirement.com/?p=734#comment-1604 I lived there for 3 years in the early 90's and plan to live there again when I retire in a few years I lived there for 3 years in the early 90′s and plan to live there again when I retire in a few years

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