Tags: Reasons | retire | outside | US

Retire Overseas? 5 Reasons to Consider It

Sunday, 10 Aug 2014 09:27 PM

By Dan Weil

Many Americans are coming to learn that it can be advantageous to retire abroad.

A total of 613,650 Social Security recipients receive their benefits outside the United States, more than double the 242,128 total of 2002, according to International Living newsletter.

Editor’s Note: Retire 10 Years Earlier With These 4 Stocks

lists five reasons why you should consider moving overseas when you retire.

1. "Property taxes are often lower overseas." While average annual property taxes total $1,997 a year in Florida, an older couple living in Ecuador tells MarketWatch their bill is only $53.

2. "You’re only a Skype or FaceTime away." It's child's play to maintain contact with your friends back home.

3. "Escape from political drama in Washington." The government has shut down three times in the past 20 years.

4. "Concerns over health-care costs." A knee replacement will run you $25,398 here, compared to $12,589 in the Netherlands and $6,015 in Argentina, according to the International Federation of Health Plans.

5. "Your dollars go further, farther from home." The purchasing power of a dollar is greater in countries such as Costa Rica and Mexico.

Meanwhile, CNBC.com offers six tips to enhance your retirement portfolio.

• "Figure out what you need.

• "Save more, and extend your working life.

• "Diversify." Stocking your portfolio with different asset classes can curb your volatility
and limit your losses in times of trouble.

• "Design your asset allocation with an eye to taxes.

• "Keep a healthy portion of equities.

• "Relax and set yourself up for automatic rebalancing."

Editor’s Note: Retire 10 Years Earlier With These 4 Stocks

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