Cost of living and Life Decisions

[ncbill]

I'm in the throes of this right now.

I sold out of Austin two years ago because the taxes on a home that I owned outright were simply untenable ($22K for 2016). Now I'm living in my camper-van having a good look around North America, thinking about where to live in the western US (I don't do humidity, and I like mountains).

I'm quite prepared to buy an "expensive" house in a place I want to live as long as my total annual tax bill -- income, property, etc -- is reasonable. I have no strong geographic ties to family so I am footloose.

But all the places that were once on my radar -- like Boise or the western Denver area -- are becoming astronomically expensive. So, I'm not sure where my anchor will next drop.

Add to the mix that I have to consider ACA plans -- unsubsidized -- for four more years. I've had to rule out a couple of states for now because the available health insurance plans are garbage or more than $1000/month for a basic HSA bronze plan (HMO with limited network and no out of network stop-loss).

So now I think about where to live pre-Medicare, and where to live with Medicare.

How many years away from Medicare?

On another forum I recommended an extended trip down to Mexico for a 63/64 year old AZ couple who were facing ACA insurance costs of over $2,500/month.

Expats often buy into the national insurance down there (as catastrophic coverage) for around $500/each...per year.

 

[Badger]

I grew up in a military family and attended 10 different schools nationally and internationally by the time I graduated HS. On my own and 6 moves later I settled into the home where my wife and I have lived for the past 30+ years.


I searched for 6 years before retirement for the ideal place to settled only to realize where we live ticked all boxes on my extensive wish list including low COL, colleges and university, military base a couple of miles from home, all the stores and restaurants within walking distance or a few minutes drive, beautiful weather year round, no snow, a big city 10 miles away, low crime, a neighborhood that has gone upscale around our modest house (cost of housing has gone up), no state tax, low property taxes, etc.


Place to live affordably and with the lifestyle you prefer are out there.


Cheers!

 

[BarbWire]

How many years away from Medicare?

On another forum I recommended an extended trip down to Mexico for a 63/64 year old AZ couple who were facing ACA insurance costs of over $2,500/month.

Four years.

No, not Mexico or Central America. Or Thailand or Malaysia or India.....

You're right about insurance costs being significantly lower just about everywhere. I am looking into the possibility of moving to the UK for a while and buying expat insurance there. A blogger I follow recently moved to France, and has purchased a policy with up to $1M coverage and $0 deductible for ...<drum roll>..... $945/year. It even covers him for up to 4 trips back to the US per year.)
I am a UK/US dual citizen, so I may be eligible for NHS even though I have not lived in the UK other than three years as a university student loooooong ago.

Early stages of research...

And will the other COL elements be lower than the US? No. In fact, they may be significantly higher, but for a few years to live in a place that is interesting, that's fine. And keep in mind that I'd be saving $1K/month in US health insurance premiums.

 

[ShokWaveRider]

UK Citizens with UK Passports are eligible for NHS as it is based on residency and a UK Citizen is automatically granted residency on Entry once they have an abode in the UK. It is the spouse of UK residents that have trouble getting in now.

 

[BarbWire]

UK Citizens with UK Passports are eligible for NHS as it is based on residency and a UK Citizen is automatically granted residency on Entry once they have an abode in the UK. It is the spouse of UK residents that have trouble getting in now.

Thanks, ShokWaveRider. So once I have an abode I am eligible for NHS. Unless it has gotten better than it was 40 years ago, I'll probably have supplemental insurance as well. Access to an EHIC card would be good.

I will start looking for a good "ExPats in the UK" forum. Even better, a "US ExPats in the UK forum." I really need to start researching seriouslyif I plan to move in 2019....

 

[ShokWaveRider]

Thanks, ShokWaveRider. So once I have an abode I am eligible for NHS. Unless it has gotten better than it was 40 years ago, I'll probably have supplemental insurance as well. Access to an EHIC card would be good.

I think you do have to apply for the Healthcare card when settled. Alan ( A Moderator) moved back from the US to the UK and can most likely add more to this.

 

[corn18]

I grew up in a military family and attended 10 different schools nationally and internationally by the time I graduated HS. On my own and 6 moves later I settled into the home where my wife and I have lived for the past 30+ years.


I searched for 6 years before retirement for the ideal place to settled only to realize where we live ticked all boxes on my extensive wish list including low COL, colleges and university, military base a couple of miles from home, all the stores and restaurants within walking distance or a few minutes drive, beautiful weather year round, no snow, a big city 10 miles away, low crime, a neighborhood that has gone upscale around our modest house (cost of housing has gone up), no state tax, low property taxes, etc.


Place to live affordably and with the lifestyle you prefer are out there.


Cheers!

Where is this magical place of which you speak? Wife and I are on the hunt for a place to retire. Currently live in Cincinnati and love the area but she hates winter. We are retired military, so wouldn't mind being near a base. Do tell!