LA_Newsboy
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I'd consider southern Portugal. I loved Slovenia, too, as well as Croatia.
Living abroad for a few years in the cheaper countries...
- Thread starter JoseSantiago
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sailaway
Dryer sheet aficionado
We are two physicians that quit early and moved to Belize for a planned 5 year stint. After 5 years now it has proven a great experience. There are challenges to living in any foreign country that you will overcome. We are now down to 4 months a year as we try other places and other experiences. We retained our home in the states, no problem and glad we did. Others will voice their concerns, don’t make them yours. If you go for it and it does not work out, you won. If it does work out, you won. Rent don’t buy. We went for it as we were afraid to be afraid.
Retired Expat
Full time employment: Posting here.
Residency. Is one thing but you are talking about tax domicile. If you own a home in Texas and intend to return there CA has no claim, unless you are working there. You vote in Texas, you maintain your bank in Texas, your car is in Texas etc. You are domiciled in Texas and a Texas resident.
Now if you are working in. CA for a period of time or getting paid in multiple places it gets very complicated
Now if you are working in. CA for a period of time or getting paid in multiple places it gets very complicated
Currently "living" in Atenas Costa Rica. Came 15 months ago for trial run and stayed when covid hit. Originally was going to go to Europe over the summer, but that obviously changed.
In a rental house in a nice neighborhood we pay app $1500 a month with maid twice a month. Watching a gorgeous sunset out my office window as I type this.
Pay app $7k per year for insurance; $5k deductible that covers international and US.
CR is not a place you come just to live cheaper. You can, but not the lifestyle we want to live. But if your smart, your cost can be kept reasonable.
Keep our residency at BIL's house in Texas. Renters insurance on us at his address, residency covered according to attorney. Traveling Mailbox for any snail mail that still shows up. Google Fi phones to keep our US numbers and use Skype, Whatsapp and Facetime a lot. Avg $55 a month for local and US.
20/20 hindsight. Keep wife's old-ish Infiniti in BIL's garage and insured because we thought we would be back twice a year. Should have sold it for what we could have got and cut our losses. Oh well, live and learn.
Will say, much happier going through all this covid crap here than in a suburb of Dallas. At least here we can get out into nature a little more, a lot more just eating outside on the rancho, watching all the birds around the house, run to the beach for a few hours etc.
Early retirement plan was to travel all over the world and stay as long as legally possible in different places. Still the plan we hope.
Till that time, plan on staying here, sucking at my Spanish, and living Pura Vida. Wouldn't trade being an expat for the world. The experience rocks!
In a rental house in a nice neighborhood we pay app $1500 a month with maid twice a month. Watching a gorgeous sunset out my office window as I type this.
Pay app $7k per year for insurance; $5k deductible that covers international and US.
CR is not a place you come just to live cheaper. You can, but not the lifestyle we want to live. But if your smart, your cost can be kept reasonable.
Keep our residency at BIL's house in Texas. Renters insurance on us at his address, residency covered according to attorney. Traveling Mailbox for any snail mail that still shows up. Google Fi phones to keep our US numbers and use Skype, Whatsapp and Facetime a lot. Avg $55 a month for local and US.
20/20 hindsight. Keep wife's old-ish Infiniti in BIL's garage and insured because we thought we would be back twice a year. Should have sold it for what we could have got and cut our losses. Oh well, live and learn.
Will say, much happier going through all this covid crap here than in a suburb of Dallas. At least here we can get out into nature a little more, a lot more just eating outside on the rancho, watching all the birds around the house, run to the beach for a few hours etc.
Early retirement plan was to travel all over the world and stay as long as legally possible in different places. Still the plan we hope.
Till that time, plan on staying here, sucking at my Spanish, and living Pura Vida. Wouldn't trade being an expat for the world. The experience rocks!
isisdave
Recycles dryer sheets
Portugal is getting a lot of positive attention lately.
Some of the Eastern EU looks attractive, but there's a growing bit of nationalism over there to watch out for.
Uruguay sounds great, but it's like a 9-hour flight to Miami!
I think the big question is what do you want/need to be close to? Family? Medical care? Where are they?
Also, you don't have to pick a forever place -- maybe just one for the next n years.
Some of the Eastern EU looks attractive, but there's a growing bit of nationalism over there to watch out for.
Uruguay sounds great, but it's like a 9-hour flight to Miami!
I think the big question is what do you want/need to be close to? Family? Medical care? Where are they?
Also, you don't have to pick a forever place -- maybe just one for the next n years.
Medellin is a nice city. I stayed with my ex in the la ochenta area. El Poblado area is the nightlife foodie area, the downtown is a little dicey day and night. Just watch your back at night, the bad guys can spot a gringo a mile away.
Nemo2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Do you feel that would be problematic for expats?
andangtu53
Confused about dryer sheets
Old Microbiologist
Recycles dryer sheets
We moved to Hungary 11 years ago and don't regret it at all.The language is challenging but the people are wonderful, hard working, have strong Christian values, and very little crime. Prices are normal for Europe and a bit on the low side even with the 27% VAT. Medical is cheap and excellent. There is zero property tax and no inheritance tax. GMO foods are illegal as well. Hungary is in the geographical center of Europe so many places are within a 6 hour drive (Munich or Venice as examples). We live halfway between Budapest and Vienna so use both.
I really enjoyed my visit to Budapest two years ago. Our 2 BDRM, 2 Bath AirBnB with a balcony cost $70 per night versus a European trip overall average of $128. The food was great too. I want to learn how to cook Hungarian Goulash. It's delicious.
Here's a link with extensive information on the Portuguese Golden Visa program. There are a number of options, but the most popular one involves buying property of a set value. It's really targeted towards people who cannot easily travel to Europe because a key selling point of this visa is access to the Schengen zone. I understand that Greece has something similar, but I haven't looked into it yet. And I read a recent article about some changes to guest visas in Thailand that are intended to help sell what appears to be a glut of new condominiums on the market there.
Here's a link with extensive information on the Portuguese Golden Visa program. There are a number of options, but the most popular one involves buying property of a set value. It's really targeted towards people who cannot easily travel to Europe because a key selling point of this visa is access to the Schengen zone. I understand that Greece has something similar, but I haven't looked into it yet. And I read a recent article about some changes to guest visas in Thailand that are intended to help sell what appears to be a glut of new condominiums on the market there.
Nemo2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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We enjoyed this town:
PointBreeze
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boatfishandnature
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Sounds like an exciting plan.
A couple of considerations:
1. Visas. You will need to investigate which of the countries that you are interested in will provide someone in your situation with a resident’s visa. Your EU citizenship is a big help, but, of course from the countries on your list only Italy is in the EU.
2. Taxes vs. costs: Taxes are a complicated matter, and you will need to consult with a tax specialist. The U.S. taxes its citizens even if they reside abroad, but there is a Foreign Earned Income Exclusion that can alleviate that, but only if some of your income is from a foreign source.Many, but not all countries have tax treaties with the U.S., which in practice often mean that you will pay the highest of the two tax rates (but at least no be double-taxed). So, looking for a low tax country (that also has reasonably low cost of living) could make a big difference. Portugal MAY fit the bill (again, get really good tax advice on this!), and is part of the EU, so you would be entitled to live there (although even so there is a bit of bureaucracy involved in registering as a local resident). I am assuming that one of your three languages is Spanish - if so, that would be a big help in learning Portuguese.
Blevin Franks publishes and sells guides (some are free) on the financial aspects of living in a number of European countries. While their main focus is UK citizens wanting to move, a lot of what they cover applies to anyone. Their Retiring to Europe guide could be a good place to start.
https://www.blevinsfranks.com/buy/living-in-books
International Living is also a valuable source of info (perhaps a bit optimistic, for instance on the local security situation), including on Latin American countries.
3. Exchange rates vs. the USD can vary appreciably, especially in developing countries in general, and Latin American countries in particular. Because of the Covid-induced financial burden, many Latin American currencies are on the weak side right now, making those countries especially cheap. But within a five year period, this can change.
A couple of considerations:
1. Visas. You will need to investigate which of the countries that you are interested in will provide someone in your situation with a resident’s visa. Your EU citizenship is a big help, but, of course from the countries on your list only Italy is in the EU.
2. Taxes vs. costs: Taxes are a complicated matter, and you will need to consult with a tax specialist. The U.S. taxes its citizens even if they reside abroad, but there is a Foreign Earned Income Exclusion that can alleviate that, but only if some of your income is from a foreign source.Many, but not all countries have tax treaties with the U.S., which in practice often mean that you will pay the highest of the two tax rates (but at least no be double-taxed). So, looking for a low tax country (that also has reasonably low cost of living) could make a big difference. Portugal MAY fit the bill (again, get really good tax advice on this!), and is part of the EU, so you would be entitled to live there (although even so there is a bit of bureaucracy involved in registering as a local resident). I am assuming that one of your three languages is Spanish - if so, that would be a big help in learning Portuguese.
Blevin Franks publishes and sells guides (some are free) on the financial aspects of living in a number of European countries. While their main focus is UK citizens wanting to move, a lot of what they cover applies to anyone. Their Retiring to Europe guide could be a good place to start.
https://www.blevinsfranks.com/buy/living-in-books
International Living is also a valuable source of info (perhaps a bit optimistic, for instance on the local security situation), including on Latin American countries.
3. Exchange rates vs. the USD can vary appreciably, especially in developing countries in general, and Latin American countries in particular. Because of the Covid-induced financial burden, many Latin American currencies are on the weak side right now, making those countries especially cheap. But within a five year period, this can change.
The cost of living in those three places varies wildly.
I lived in Singapore for 3 years. It's not exactly a "Live cheap overseas" location.
Vietnam and Thailand are. I would look at rotating from Malaysia, to Thailand, to Vietnam, with short 'expensive' visits to Singapore.
brett
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Our ideal winter vacation is a month or so in the south of Thailand followed by a month in Australia.
We love both. What we do not spend in Thailand we spend in Australia. Works out for us.
We leave home with carry on luggage and sometimes no more that a general ideal of where we will travel. The only musts are getting a visa for Thailand before we leave we plan to spend more than 30 days in the country and the electronic visa required by Australia.
We could easily spend three months in each of these countries.
We love both. What we do not spend in Thailand we spend in Australia. Works out for us.
We leave home with carry on luggage and sometimes no more that a general ideal of where we will travel. The only musts are getting a visa for Thailand before we leave we plan to spend more than 30 days in the country and the electronic visa required by Australia.
We could easily spend three months in each of these countries.
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Green Papaya
Recycles dryer sheets
This plan is what we have in mind, maybe adding Bali to the rotation, and Hawaii, Australia, New Zealand, Tahiti as visits.
ospreyjp
Dryer sheet aficionado
We stayed a week in Sibiu on a trip around Transylvania and loved it. Brasov and Sighisoara were other towns we stayed in but Sibiu was our favorite. That region of Romania felt like a spot I could picture retiring too and, of course, was very affordable. I also forgot to mention, nice wine there as well!
Nemo2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Don't know if you were unfortunate enough to see our slideshow...but here it is:
Apologies in advance.
https://www.early-retirement.org/fo...-boring-travel-slideshow-s-part-iv-92198.html
https://docs.google.com/presentation/d/1U6i3q9OSRDfP_TAIA7RL49OJ_gpCIgw9POHs0h69J8o/edit
We are in similar boat... can retire in 2 years with state pension or hang in for a few more for a bit more boost. But like others have stated, you'll be older and possibly less healthier if you wait. So we're aiming at 2023 to punch out.
Have you considered Spain or Portugal? We're looking at Portugal, Spain, Italy, and France (Languedoc-Rousillion / Brittany-Charente regions). We've been to all these countries over the years. We went to Portugal on a lark about a year ago and were quite impressed with the different regions, healthcare, cost-of-living in some areas. You will spend more in touristy-areas and see spikes in prices during season. But other areas less so. Portugal ranks high in safety, culture, cost-of-living, healthcare, and expat friendliness. Porto, Coimbra, Lisboa, Algarve are the major areas. Cars and gas is expensive but there's good train / bus connects and cheaper to lease/rent a car for longer periods.
The downside is Portuguese is a language unto itself and no Brazilian Portuguese isn't quite the same. The upside is most younger Portuguese speak English fairly well because it's mandatory in grade school and those who go to university learn English to snag a job with an international corporation. My tourguide sounded like she was from the midwest (U.S.) and I asked if she attended school in the states, She said she took extra classes in Portuguese college and learned accents by watching The Tonight Show with Jay Leno. She explained that all English-speaking TV programs that air on Portuguese television aren't dubbed but have sub-titles /closed-captioning to help natives learn English by watching.
No you can spend as much or even more on housing, etc. if you have to have the huge apartment in Lisbon's city center or drive an "American" equivalent car. Petrol and electricity are expensive too so choose wisely. If you're looking for lower cost-of-living and safety with culture in spades... can't go wrong with Portugal. Plus EasyJet or TAP flights are ridiculously cheap. We flew to Madrid in about 2 hours for 86 Euro for two with two bags.
Have you considered Spain or Portugal? We're looking at Portugal, Spain, Italy, and France (Languedoc-Rousillion / Brittany-Charente regions). We've been to all these countries over the years. We went to Portugal on a lark about a year ago and were quite impressed with the different regions, healthcare, cost-of-living in some areas. You will spend more in touristy-areas and see spikes in prices during season. But other areas less so. Portugal ranks high in safety, culture, cost-of-living, healthcare, and expat friendliness. Porto, Coimbra, Lisboa, Algarve are the major areas. Cars and gas is expensive but there's good train / bus connects and cheaper to lease/rent a car for longer periods.
The downside is Portuguese is a language unto itself and no Brazilian Portuguese isn't quite the same. The upside is most younger Portuguese speak English fairly well because it's mandatory in grade school and those who go to university learn English to snag a job with an international corporation. My tourguide sounded like she was from the midwest (U.S.) and I asked if she attended school in the states, She said she took extra classes in Portuguese college and learned accents by watching The Tonight Show with Jay Leno. She explained that all English-speaking TV programs that air on Portuguese television aren't dubbed but have sub-titles /closed-captioning to help natives learn English by watching.
No you can spend as much or even more on housing, etc. if you have to have the huge apartment in Lisbon's city center or drive an "American" equivalent car. Petrol and electricity are expensive too so choose wisely. If you're looking for lower cost-of-living and safety with culture in spades... can't go wrong with Portugal. Plus EasyJet or TAP flights are ridiculously cheap. We flew to Madrid in about 2 hours for 86 Euro for two with two bags.
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tenant13
Full time employment: Posting here.
Since you have EU passport, I would strongly consider Portugal - no financial headaches (https://www.globalcitizensolutions.com/nhr-portugal-tax-regime/), low cost of living, great food and weather plus most people speak English.
The second place that I absolutely love but it flies under the radar for most people is Taiwan. Taipei is a full on worldly capital that's a mixture of New York, Tokyo and Bangkok but the island itself has everything you may want if you're not a city rat - beaches, mountains, hiking, biking... etc. Fantastic healthcare and a perfectly functioning government - they had virtually no covid and no lockdowns, 7 deaths since March. Since you're still working you may qualify for their Gold Card Visa (the easiest way is to show proof of income) - basically a 3 year residency permit (https://taiwangoldcard.com/). You get access to the free health care after 6 months.
I looked into Panama and some of the South American countries but ultimately decided against them because of their attachment to religion and shitty attitude towards LGBT. For the same reason I stay away from certain Eastern European countries (not all, Chech Rep is great)
The second place that I absolutely love but it flies under the radar for most people is Taiwan. Taipei is a full on worldly capital that's a mixture of New York, Tokyo and Bangkok but the island itself has everything you may want if you're not a city rat - beaches, mountains, hiking, biking... etc. Fantastic healthcare and a perfectly functioning government - they had virtually no covid and no lockdowns, 7 deaths since March. Since you're still working you may qualify for their Gold Card Visa (the easiest way is to show proof of income) - basically a 3 year residency permit (https://taiwangoldcard.com/). You get access to the free health care after 6 months.
I looked into Panama and some of the South American countries but ultimately decided against them because of their attachment to religion and shitty attitude towards LGBT. For the same reason I stay away from certain Eastern European countries (not all, Chech Rep is great)
Why is this?
Amy T
Dryer sheet wannabe
Go for it! You never know until you spend time in a place if its right for you.
I lived in Belgium for 7 years and loved it. I was working and had a "non-resident" tax situation. I am currently tring to find details on what the tax would be for non-earned income. I want to go back.
I lived 6 months in Ecuador. Great experience but now I know that it is not where I want to be. Mountains are cold and rainy.
I lived in Belgium for 7 years and loved it. I was working and had a "non-resident" tax situation. I am currently tring to find details on what the tax would be for non-earned income. I want to go back.
I lived 6 months in Ecuador. Great experience but now I know that it is not where I want to be. Mountains are cold and rainy.
I would probably choose Italy on your list. That would make it easier to travel around the European continent.
If you choose Latin America and Mexico, the crime rate would be worst than Europe.
If you choose Latin America and Mexico, the crime rate would be worst than Europe.
JakeinChina
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Because the chicks in Columbia are hot. What else do you think he means? LOL
ospreyjp
Dryer sheet aficionado
Terrific slides! Thanks for sharing... I would like to go back in the warm weather next time. Our trip was very atmospheric with snow on the ground and falling for most of the two weeks we were there at. Christmas time. Your Brasov stay looked like the same AirBnb we stayed!
