Best Places In The World To Retire
Recently Answered Questions
What is the culture of Chapala and Ajijic, Mexico?
The culture of Chapala and Ajijic is a mix of Mexican and North American culture. It also varies depending on your social circles. The expats tend to stay with the expats, so when you go to their parties or get-togethers, everything tends to be like they are in the US. I have an expat friend who socializes with a lot of the lawyers here and goes to a lot of their functions, so his experience tends to be quite Mexican, and his Spanish is very good. Socially and culturally, he is very...
The culture of Chapala and Ajijic is a mix of Mexican and North American culture. It also varies depending on your social circles. The expats tend to stay with the expats, so when you go to their parties or get-togethers, everything tends to be like they are in the US. I have an expat friend who socializes with a lot of the lawyers here and goes to a lot of their functions, so his experience tends to be quite Mexican, and his Spanish is very good. Socially and culturally, he is very Mexican.In general, you can certainly choose what culture you want to be in. If you want to live in a North American culture you pretty much could. If you want to live in a Mexican culture you can do that as well. If you want to be a little bit of each, it is also possible.
How much does food cost in Algarve?
Food costs in the Algarve are cheap compared to most other countries in Europe. Here there is an abundance of locally grown fruit and vegetables, fresh fish and good quality meat. Many of the products are produced or farmed locally and sold in the towns’ markets, which are friendly and delightful to shop in. This means that the fresh food is not only cheaper, it lasts longer and is more environmentally friendly. It is noticeable that all my guests who come from outside Portugal...
Food costs in the Algarve are cheap compared to most other countries in Europe. Here there is an abundance of locally grown fruit and vegetables, fresh fish and good quality meat. Many of the products are produced or farmed locally and sold in the towns’ markets, which are friendly and delightful to shop in. This means that the fresh food is not only cheaper, it lasts longer and is more environmentally friendly. It is noticeable that all my guests who come from outside Portugal comment on the amazing taste and flavor of the food, something that as a foodie I enjoy immensely but have come to take for granted.A loaf of Portuguese white bread costs around €0.80c (about 90 US cents or .6 British pounds), a liter of milk (a quart) cost €0.90c (about one US dollar or .7 British pounds), sliced cheese is around €3.00 per pound (about US $3.40 or 2.3 British pounds), smoked ham is €4.00 per pound (about US $4.50 or 3 British pounds) and free range chicken is around €1.50 a pound (about US $1.70 or 1.2 British pounds). Beer and wine are also produced locally so it is possible to buy a good quality bottle of wine (red or white) in the supermarket for under €5.00 (about US $6.80 or under 4 British pounds).
What's it like to drive in Placencia, Belize?
Will Panama make me pay income tax on money I earn outside of Panama?
Whether or not income taxes are due in in any country is an issue must be taken very seriously, and about which professional advice must be considered. Any country lives from their taxes and central government income. Foreign retirees in Panamá established here in part because they receive many benefits in the form of taxes and discounts. They have a relaxing and peaceful life in their new country, and do not pay taxes on their retirement income...
Whether or not income taxes are due in in any country is an issue must be taken very seriously, and about which professional advice must be considered. Any country lives from their taxes and central government income. Foreign retirees in Panamá established here in part because they receive many benefits in the form of taxes and discounts. They have a relaxing and peaceful life in their new country, and do not pay taxes on their retirement income received from abroad.
But if you are pursuing taking advantage of the system, that´s a different story. One thing is what you receive, and another is what you take. Social benefits and community services are based on taxes. Sometimes there are exceptions, and you must file for them, but the majority of citizens comply with some percentage of taxes that will make the country comply with their own commitments.
Panamá has been very generous with saving account or investment interest, in which no taxes are required to be paid; filing is only for salary or corporate revenues. Most of the time, Panamá gives many years of tax exempt property taxes on new housing.
But the globalization brought new horizons in which banks are included, and Panamá has to comply with international agreements. Maybe the law will change some day, but in the meanwhile, if you make money in Panamá, most probably it will be through a corporation, and must be reported, and if the money is made outside of your home country you must comply with your country of origin's tax laws. But there are international treaties with many countries that combine tax forms in which no duplication of taxation is made, for the benefit of taxpayer.
What would my neighbors be like in Nicaragua?
In general, should I keep my US bank, brokerage, investment, IRA or retirement account if I move overseas?
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