Pensioners leave America for fear of hard life - ForumDaily
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Pensioners leave America for fear of hard life

American pensioners are leaving the country to save their savings and income from social security.

Photos: Depositphotos.com

“For people concerned about their pension, even a few years spent in a prime location abroad can make a big difference. Moving abroad can be a solid money-saving strategy, says Jennifer Stevens, executive editor International Living.com.

Stevens said that the expatriate option lures many Americans.

"It's never been easier to move abroad - the infrastructure is better than ever, technology makes it possible to stay connected with family and friends back home, and there are many safe and beautiful options for moving abroad," she said.

Probably the most important factor for a generation of disgruntled Americans, Stevens said, in many places, "a pensioner can live comfortably in less than $ 2000 a month."

55-year-old Kathleen Peddicord, who moved abroad 20 years ago with her husband, was the author of the book How to Go Abroad: All You Need to Know in order to live well abroad. She said that the most cost-effective countries for Americans living abroad are Panama, Belize, Uruguay and Malaysia.

“The tax positions of these countries are about as good. In these four countries, you only pay tax on what you earn in the country. Don’t earn your income domestically and you don’t pay taxes domestically,” she wrote.

Indeed, the number of American retirees living in other places is growing, according to the US State Department, which says that 8,7 million Americans live abroad. The State Department predicts that the number will grow in the next decade.

According to the federal government, about 500 000 social security payments are sent abroad, about 100 000 was more than two years ago.

But Stevens said that these numbers are probably underestimated.

According to a travel expert, most Americans retire in places where the US currency is welcome.

Peddicord said that living abroad can begin as a financial step, but often becomes something more meaningful.

“For many, the decision begins with the worry that their retirement income may not be enough to live on,” she said.

But she added that “every retiree I know who has moved to a foreign country has learned that the real benefit is not a lower cost of living, but an improved quality of life.”

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