I can't take credit for this list, but I found it interesting enough to post it here. Credit goes to Live and Invest Overseas (www.liveandinvestoverseas.com/). They are self proclaimed as the world’s savviest, most experienced, and most trusted source for information on living, retiring, and investing overseas. Anyhow, their list certainly contains some interesting and fun-filled destinations that may just surprise you.
10 - Belize. Not that surprising that Belize is on this list. It has been a retirement destination for Americans for many years now. The fact that they speak English and they allow permanent visas for retired people sure helps out a lot. Also, its fairly close to home if you ever need to come back or if friends and relatives want to visit!
9 - Dominican Republic. This one was a surprise to me, but for a small investment (proof that you have $1,500 monthly income) you can become a permanent resident of this beautiful Caribbean nation.
8 - Greece. Another surprise, but with the strong dollar and the weakening Greek economy it makes sense, for now. Another plus, Greece's healthcare, as ranked by the WHO is 14 in the world! (the USA is 31.)
7 - Mexico. More surprises for me! The list specifically states that Playa del Carmen is the place to be. Low property taxes, plenty of English speakers, and beautiful scenery makes this a great retirement destination.
6 - Malaysia. The first destination outside of North America. For expats, Malaysia (the eastern coast known as Borneo) is considered the best place in Asia to live. Good medical centers, shopping, theatre, festivals and beaches rank this destination.
5 - Slovenia. If you've been paying attention to the Presidential elections, you will know that Donald Trump's wife Melania is from this former Communist Yugoslavian territory. Nestled between some of the most iconic European destinations (Italy, Austria, Croatia, and Hungary) this small nation is perfect for retirees wishing to continue their travel adventures.
4 - Belize, again! Specifically Cayo, Belize. Yet discovered Cayo, makes real estate cheap and taxes low. All the benefits of Belize, but without all the hassle of a well-known destination.
3 - Mexico, again! - Specifically Puerto Vallarta. This destination is much more expensive, but infrastructure, healthcare (who knew?), and other areas of cost of living make this destination rank so highly.
2 - Malta. With English as a second language, Valletta, Malta is a great destination to retire. Healthcare is ranked 5 in the world! Scenery is a must-see, and who wouldn't want to tell their friends and family that they live on a tiny island in the Mediterranean Sea?
1 - Portugal! Who would have ever thought that this small, ancient European country would be a great place for American's to retire? Well, this destination has actually been on the top spot for 3 years now. Portugal lays claim to great weather, thriving expat communities, great medical facilities, cheap real estate, and cheap taxes. It's everything a retiring American wishing to live abroad could ever want in a destination.
See the full article here: 10 Best Places to Retire Overseas
If you are interested in structuring your finances so that one day you too could live or retire overseas, then book an appointment now so we can get started on planning your financial future!
Before working with clients living abroad, I had no idea that getting money from one person in one country to another person in another country was a big deal. After all, isn’t Western Union all over the world? Well, apparently is not that straight forward. Not only does it take time and patience, banks (and Western Union) charge huge fees that eat into the amount of money being transferred. Then, there are all the forms that have to be filled out because currency is being transferred across national borders. So what if you could cut out all these middlemen and get more of the full value to someone in another country sooner, easier, and cheaper?
I came across a service that accomplishes this. It is called TransferWise and the company claims to make the transfer process better because it isn’t really a transfer. It is said to be a peer-to-peer company so there are no other middlemen than TransferWise. Their fees seem reasonable with a minimum fee of the equivalent of a few American Dollars. Each transaction above a minimum amount will be charged a small percentage of the amount being transferred. So, there are no banks jiggering the exchange rates (hidden fees) and then charging a fee on top of that. So if you go to look-up an exchange rate, it is what it is, and there is no skimming going on!
The way it works is that a person, say in the United States, who wants to send money to their cousin in Brazil, makes a deposit into an American bank. TransferWise finds a person in Brazil (not the cousin) who needs to send money to the States. The Brazilian makes a deposit into their local bank for a fourth party back in the United States to withdrawal (you can see how this gets complicated very quickly with who is depositing and who is withdrawing, etc.) The Brazilian, the first American’s cousin, then makes a withdrawal from the Brazilian bank and the transfer of money is complete. No need for government forms because there was technically no money moved across national borders. There was really only deposits and withdrawals made within each country. No need for banks to skim the exchange rate because, again, there was technically no real transfer of money.
Seems like a nifty system to me, but as with anything, I have to wonder if the big banks aren’t going to wise to this and start demanding legislation to stop it? Well, as it is for now, if you need to get some money somewhere fast, you may want to check this service out.
I’d like to know how it works if you do try it some time. Leave me a message or send me an email.
Lastly, I do not receive any compensation from TravelWise.
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