Expat Teacher considering pulling the plug

[Expat Teacher]

Hi there

I am a NZ citizen married to a MN gal from "The Range". We met overseas and have taught in international schools for over 20 years. It has been a great gig but we are considering returning to either NZ or the USA in June 2017. I am 55 and my wife is 53. We have put together a portfolio of just over a million dollars. I figure if we earn enough to cover our costs (earn $40K per year to live on) for the next 5-10 years (and not touch our nest egg) we should be in really good shape when we eventually stop working. I am trying to come up with a budget with zero retirement income as I am not eligible for SS and what my wife will get is not really worth counting. The monster in the closet for me is medical insurance - costs for this in the USA seem to be increasing faster than a NASCAR.

If anyone has any thoughts if our plan I would love some feedback. Any advice from former expat teachers on the topic of early retirement would also be cool.

Regards

Expat Teacher

 

[Katiek]

Welcome! Are you tracking your expenses closely so you know exactly where your money is going?

 

[Potstickers]

Does your wife already have enough credits for Medicare coverage? If not, I wouldn't think that the US would be a good domicile unless she planned to work and get the credits (10 years worth?) she needs for both of you to be covered. Medicare isn't the greatest, but buying healthcare post-65 without it in the US is a pricey, pricey proposition.

 

[ivinsfan]

Does your wife already have enough credits for Medicare coverage? If not, I wouldn't think that the US would be a good domicile unless she planned to work and get the credits (10 years worth?) she needs for both of you to be covered. Medicare isn't the greatest, but buying healthcare post-65 without it in the US is a pricey, pricey proposition.

+111111

work those credits and be sure she qualifies before you pull the plug completely

 

[Totoro]

Why not move yourself to NZ right now?

You'd qualify for superannuation and decent healthcare, surely by the time you hit 65.

 

[ugeauxgirl]

If you both work in the US for 10 years I think you will qualify for SS and Medicare, AND in many states, 10 years working for the school system is enough to qualify for a small pension- might be worth considering if you are deciding where to go.