Best Places In The World To Retire

The water supply in the main towns in the Puerto Vallarta area is almost always perfect.
 
However, in some of the smaller towns where the holding tanks are not as large, the water supply can run low during peak visitor weeks such as Christmas, New Years and Semana Santa (Easter).
 
Relative to the safety of drinking the water in the Puerto Vallarta area, I always recommend buying bottled water to drink.  The water here is fine for cooking, making coffee and things...

The water supply in the main towns in the Puerto Vallarta area is almost always perfect.
 
However, in some of the smaller towns where the holding tanks are not as large, the water supply can run low during peak visitor weeks such as Christmas, New Years and Semana Santa (Easter).
 
Relative to the safety of drinking the water in the Puerto Vallarta area, I always recommend buying bottled water to drink.  The water here is fine for cooking, making coffee and things like that, but bottled is best for drinking.  

 

(SEAPAL Water company in Puerto Vallarta, Mexico, pictured.)

You need to be ready to file taxes! The United States has a highly stringent policy when it comes to the taxation of its citizens and permanent residents (i.e., those with a green card). The US government taxes all of its citizens based on worldwide income, which means it does not matter where the money is earned. US citizens and permanent residents may be able to exclude up to $100,800 in foreign earned income provided they meet certain qualifications. Given the high exclusion...

You need to be ready to file taxes! The United States has a highly stringent policy when it comes to the taxation of its citizens and permanent residents (i.e., those with a green card). The US government taxes all of its citizens based on worldwide income, which means it does not matter where the money is earned. US citizens and permanent residents may be able to exclude up to $100,800 in foreign earned income provided they meet certain qualifications. Given the high exclusion amount, most US expats end up not owing any taxes, although they are required to file a tax return. In countries with a higher income tax rate than in the US, it is often preferable to utilize the foreign tax credit, rather than the foreign earned income exclusion to eliminate US tax liability. The foreign tax credit addresses the issue of double taxation. 
 

US persons (including entities) with an interest or signature authority over foreign financial accounts that have an aggregate balance exceeding $10,000 are required to file the FBAR (FinCen 114). The FBAR is separate requirement from your tax return. Failure to file the FBAR carries hefty penalties. Its important to note that with the implementation of FATCA (Foreign Account Tax Compliance Act), foreign financial institutions are providing the IRS with the details of foreign financial accounts held by US persons. As a result, non-reporting is an increasingly risky proposition.

We have three or four beautiful rivers that cross Portugal. Further south from Lisbon we have the Guadiana River, where I have rafted. Up north we have Mondego River and further north close to Porto we have Douro River, which is where the Porto Wine comes from. And this area Douro; the Douro River and the cliffs surrounding the Douro River, is where they plant the grapes to produce the world famous Porto Wine or “Port Wine” as you call it in America.  We do not have the...

We have three or four beautiful rivers that cross Portugal. Further south from Lisbon we have the Guadiana River, where I have rafted. Up north we have Mondego River and further north close to Porto we have Douro River, which is where the Porto Wine comes from. And this area Douro; the Douro River and the cliffs surrounding the Douro River, is where they plant the grapes to produce the world famous Porto Wine or “Port Wine” as you call it in America.  We do not have the very extreme classes of river rafting but we do have some mild intermediate class areas. People raft here in Portugal in the winter and spring. You can go in summer but the rivers are very low and it becomes a bit boring for people looking for some excitement. 
 
We have sea kayaking in Portugal.  I provide an excursion for my clients that is basically just a beautiful tour around our coastline around Cascais (near Lisbon) in a kayak.  There are two levels of sea kayaking. You have the sea kayaking just to wonder around and you have the surf sea kayaking, which is on waves, which is for another level of expertise. You have to have a lot of experience to do that. But for the first timer, you have to do the traditional sea kayak and you’re only allowed to go when the sea is really, really calm. Portugal is close by the Atlantic Ocean and the Atlantic Ocean is quite rough. So 80% throughout the year we have waves in Portugal. The only two months of the year with light waves are July and August. You can go out throughout the year but then you have to go to protected bays, of which there are many throughout the country.  The Algarve is the perfect place to do this because the Algarve gets the Mediterranean Sea so it doesn’t get as rough as it gets on the west coast, which faces the Atlantic. The southern coast is much more calmer than it is in the west coast.

 

(Sea kayaking provided by Blue Hostel and Suites, Cascais, Portugal, pictured.)

As healthcare is often quite inexpensive many choose to live without an international health insurance policy. I have seen way too many situations where a medical plan should have been purchased so that an emergency was covered to evacuate the person to another country or even to their home country for care. There are policies available that are reasonable.

 

If I were watching my expenses to keep them at a minimum but also take care of hospitalization costs,...

As healthcare is often quite inexpensive many choose to live without an international health insurance policy. I have seen way too many situations where a medical plan should have been purchased so that an emergency was covered to evacuate the person to another country or even to their home country for care. There are policies available that are reasonable.

 

If I were watching my expenses to keep them at a minimum but also take care of hospitalization costs, there are several good options.

 

Do consider adding a bit of expat life insurance to your strategy.

 

(Sandboarding, Cero Negro, Nicaragua, pictured.)

Panama doesn’t really have blackouts or brownouts.  Panamanian electricity is very reliable, with very few blackouts. In Chitré, where I’m located, about 160 miles west of Panama City, we don't have any sort of problems with the stability of our electricity either. 
 
In a typical month, electricity usually won't go out at all. In the entire five years I've been here in Chitré, the electricity has gone out perhaps a few times.  

Panama doesn’t really have blackouts or brownouts.  Panamanian electricity is very reliable, with very few blackouts. In Chitré, where I’m located, about 160 miles west of Panama City, we don't have any sort of problems with the stability of our electricity either. 
 
In a typical month, electricity usually won't go out at all. In the entire five years I've been here in Chitré, the electricity has gone out perhaps a few times.  

 

(Lit up at night, the Catedral de San Juan Bautista in Chitre, Panama, pictured.)