2014 February 22 Saturday
Suppose You Want To Retire Abroad
Health care costs are the biggest concern when Americans retire somewhere else:
And in almost all cases, Medicare doesn’t pay for health care provided outside of the United States.
Some companies will keep you on a policy for the rest of your life if you start paying while healthy. But it is not clear to me whether that is true in practice since premiums can rise. How much will, say, Allianz boost premiums?
If things turn really bad in the United States the advantages of living abroad could become much greater. Yet another reason to save lots of money for your old age.
By Randall Parker at 2014 February 22 11:01 AM
Instead of trying to ram through third world immigration to the US, Obama should be trying to ram through Medicare support for US citizens retiring to Africa. There aren't that many Democratic voters coming to the US from Africa compared to Latin America so the Democrats could still dissolve the people and elect a new one in the US.
Yet health care costs in Mexico are far less than those in the US, and insurance is available for local care. After 15 months of criss-crossing Mexico, my new book looks at Americans and Canadians who’ve chosen to avoid the big expat colonies in San Miguel de Allende and Lake Chapala. What they’ve found is both diverse and surprising. If you’re wondering what the expat experience is like, whether on the beach or in the colonial cities of the interior, you need to listen to this conversation. The book is called Into the Heart of Mexico: Expatriates Find Themselves Off the Beaten Path, and there is no other book like it. There’s a sample on my website: