three reasons to retire early overseas
Post on 12-Apr-2017
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www.MyRetirementRehab.me
Three Reasons to Retire Early Overseas
Retirement is ChangingMany people have done the math for traditional retirement and it
doesn’t work. But the concept of “retirement” is changing.
Retirement Challenges
Don’t want to scrimp today for something far in the future.•Don’t want to sacrifice current quality of life.•
• Balance current sacrifices with future life
Can’t save enough to fully fund retirement•
The Increasing Human Lifespanretirement at 60 doesn’t mean what it used to
Retirement at age 60Today’s retirees’ lives
My grandparents’ lives
My Retirement Rehab
What Retirement Looks Like Today
Getting away from the nine to five grind.•
Use technology to work, but keep some of your time freedom.•
• Earn an income doing something you enjoy.
Create a life you won’t want to retire from.•
Reason #1: TaxesA high taxable income can make make retiring at home very
expensive.
$–––––––
U.S. Income Taxthe hefty cost of living in the U.S.
Federal income taxes, FICA, and local income taxes.
Arizona
21%Gross Income
Owed Income Tax
Income After Taxes
$100K
$21K
$79K
Federal Income Taxes and FICA.
Florida
18.75%Gross Income
Owed Income Tax
Income After Taxes
$100K
$18.75K
$81.25K
Income Tax Abroadtaxes as a permanent resident overseas
For expats utilizing Foreign Earned Income Exclusion (FEIE).
Living Abroad
0%Gross Income
Owed Income Tax
Income After Taxes
$100K
$0
$100K
Reason #2: The U.S. DollarThe strength of the U.S. dollar has made living abroad more affordable.
$
Costs of Living Around the Worldlooking at Numbeo’s Cost of Living Comparison in other countries
New York City, USA
$7,200
Phoenix, USA
$3,659Fort Lauderdale, USA
$4,835
Merida, Mexico
$1,435
Chiang Mai, Thailand
$2,047
49% cheaper than New York
33% cheaper than New York 72% cheaper than New York
80% cheaper than New York
Reason #3: HealthcareAffordable healthcare abroad is a very attractive prospect.
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An Expat’s Healthcare
As an expat worker I enjoy a great medical and dental
insurance package.
My family’s coverage is worldwide, except for the United
States.
We are not allowed any elective care in the United
States.
A colleague was forced to sue the insurer when his wife
became ill and was hospitalized while visiting home.
the high cost of retiring at home
Healthcare in the USA
1. A major study of seven developed countries showed both elevated costs in the US and a wide variation within the US.
2. A standard MRI was $1119 in the US, but $215 in Australia and $181 in Spain.
3. Some places in the US were paying over $3000 for an MRI.
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seven costs in developed countriesCost of Hip Replacement
The same operation can be had for just over $7000 in
South Africa and just over $16,000 in the UK.
Average American Hip Replacement
A standard hip
replacement costs an
average of just over
$29,000 in the US, but
runs as high as
$57,000.
$29,067
Spain
South Africa
NewZealand
UnitedKingdom
Switzerland
Australia
UnitedStates
ofAmerica
$6,757$7,685
$15,465$16,335
$17,112
$19,484
$29,067
now and in the futureHealthcare facts
1. Mexico, Thailand, and Hungary ranked best for getting good but cheap dental care.
2. If you are working today outside a corporate insurance plan, you are forced to choose to take risks you don’t need to take if you live abroad.
3. Fidelity’s annual study projected a 65-year-old couple retiring in 2016 will need $260,000 to cover healthcare costs in retirement, up from $240,000 in 2015.
4. I have not seen a single forecast of a declining rate of healthcare cost increases.
Read More on Retiring Abroad
• Retire early
• Live overseas
• Save on taxes
• Work on your own terms
• Stretch your buying power
• Find affordable healthcare
Sign up here for free info about our NO NEST EGG RETIREMENT PLAN
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