How to Stretch Your Dollar While Retiring Abroad – Interesting Facts for US Expats Story

How to Stretch Your Dollar While Retiring Abroad – Interesting Facts for US Expats

When you’re getting ready to retire, one of the first concerns you’ll likely have is a good income. Many Americans opt to retire overseas to stretch their dollar and enjoy a lower cost of living.

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If you’ve secured your financial status and would like to spend all your time with the family at an offshore location, that’s an amazing idea.

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Here are some of the smart strategies you can adopt to ensure that you have a steady income for the rest of your life.

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How to Stretch Your Dollar While Retiring Abroad – Interesting Facts for US Expat

Studies show that Portugal, Panama, Costa Rica, Mexico, and Colombia are the top five locations that Americans choose.

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Central America as a rule tends to be cheaper than in Europe. Similarly, living in Panama costs as little as $1,700 per month, while Costa Rica has a low monthly cost of around $1,585.

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Most countries expect you to file annual returns and pay taxes on your worldwide income.

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Certain countries levy higher taxes on residents, so it makes sense to pick a location where the taxation is most favorable for US expats.

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Most destinations worldwide offer senior or travel discounts that can help you cut back on your daily expenses significantly.

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Carry age verification and IDs with you to avail of lower costs for travel, meals, and entertainment. This can add up in big ways as you make small purchases.

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