Best Places In The World To Retire

You should definitely rent a home or apartment before buying in Mexico. I tell everybody to do this. You might as well, because you can’t lose if you rent. You just are going to have a better understanding of the neighborhood you’re in, the city you’re in, and it’s best to try renting before committing to buying a home. It’s more affordable and you’ll learn a lot.
 
Most people in the US are very willing to buy a house when it’s time but...

You should definitely rent a home or apartment before buying in Mexico. I tell everybody to do this. You might as well, because you can’t lose if you rent. You just are going to have a better understanding of the neighborhood you’re in, the city you’re in, and it’s best to try renting before committing to buying a home. It’s more affordable and you’ll learn a lot.
 
Most people in the US are very willing to buy a house when it’s time but that’s because you are usually living in a place that you’ve been to before or you’ve lived in before, so it’s your hometown, or you have a job or relatives, and it’s not a really foreign place. In contrast, Mexico is usually a place where people either haven’t been at all or they’ve been only on vacation. So to buy a house first thing I think can be a little bit pre-mature.
 
I recommend renting for probably 3 months to 6 months to start. You can get a pretty good idea of your surroundings in a month or so but in Mexico, you’re usually looking at long-term rentals or short-term rentals. I don’t think it’s necessary to rent for a full year, because you can usually get the same price per month rental on a house or condo for 6 months that you can for one year. So that’s a good way to start out.  

 

(Kristin Wilson, worldwide relocation specialist in helicopter scouting for properties from the air, pictured.)

There's quite a bit of misinformation and fear surrounding FATCA, but the bottom line is that it's not a big deal at all (assuming that you are OK with being 100% honest and open when it comes to complying with your U.S. federal income tax responsibilities).

 

If all you do is move your residence overseas, then FATCA will have no effect on you whatsoever.  You could live your whole life overseas and never say or read "FATCA" ever again.  Some...

There's quite a bit of misinformation and fear surrounding FATCA, but the bottom line is that it's not a big deal at all (assuming that you are OK with being 100% honest and open when it comes to complying with your U.S. federal income tax responsibilities).

 

If all you do is move your residence overseas, then FATCA will have no effect on you whatsoever.  You could live your whole life overseas and never say or read "FATCA" ever again.  Some people seem to think that FATCA requires 30% withholding on all international wire transfers or all amounts paid to persons who live overseas, but that is not the case at all.  FATCA withholding only applies in very limited circumstances generally related to U.S. banks and brokers paying interest or dividends to non-U.S. persons.

 

Now, if you also move some assets overseas with you, or otherwise invest in non-U.S. assets (e.g., by forming a non-U.S. corporation, or opening non-U.S. bank accounts), then FATCA will be something you'll need to think about.  However, it still won't negatively affect your life (as long as the assumption in the first sentence of my answer holds true).

 

FATCA is mainly an information-gathering tool for the IRS, and it has two parts.  

 

First, FATCA requires some additional disclosure on your U.S. tax return--this is IRS Form 8938.  So, you'll need to add a few extra pages to your return to tell the IRS about your non-U.S. bank accounts or interests in non-U.S. entities.  No big deal (assuming you have your U.S. tax return prepared by someone knowledgeable in this area).

 

Second, FATCA essentially requires non-U.S. banks and brokers to provide information about their U.S. account holders.  (I say "essentially requires" because FATCA subjects them to a punitive withholding regime if they don't comply.)  So, when you open a non-U.S. financial account, you'll have some extra paperwork to fill out.  Then, if you invest through fancy offshore structures, you'll need to make sure it is structured in a way that makes FATCA compliance easy (you'll need a tax attorney on board).  Again, FATCA should not ultimately have a negative impact on your life.

 

So, no need to worry about FATCA--just enjoy your new life abroad!

 

(Lake Nicaragua  and the island volcano Ometepe, Nicaragua, pictured.)

I thought it would be fun to answer this question from the perspective of a native of Granada, which we call “a Granadino”, and which includes me.

Most of the expats in Granada are not as tan as we, the native Granadinos. The expats here in Granada do, however, like to walk a lot. While we Nicaraguans use the shade-side of the street, the expats like to use the sunny-side of the street, which I find really fun. The expats are looking for the sun and the native Granadinos...

I thought it would be fun to answer this question from the perspective of a native of Granada, which we call “a Granadino”, and which includes me.

Most of the expats in Granada are not as tan as we, the native Granadinos. The expats here in Granada do, however, like to walk a lot. While we Nicaraguans use the shade-side of the street, the expats like to use the sunny-side of the street, which I find really fun. The expats are looking for the sun and the native Granadinos are always looking for the shade.

Many expats here in Granada walk around with their cameras and they speak some other language that is not Spanish.

The expats here in Granada are very nice people. They always have a ready smile for you and they are very friendly. I am the kind of person who also smiles back so that they feel welcome in my city. When I see an expat in the corner with a map and they look a little bit confused, I always try to help. The expats here in Granada are adventurous people. They live in a city that’s totally different from where they came from and they like doing a lot of risky and fun things.

You can also tell the expats apart by the way they dress. They usually wear shorts, they bring backpacks and they wear different kinds of sandals. The usually stay with themselves but there are a few here who really mix with the locals. 

 

(Tree-lined Calle Calzada, Granada, Nicaragua, pictured.)

Most of expats in Panamá has been motivated by the weather.  Always warm and nice.  Delicious breeze and beautiful sunshine in the "summer time", meaning the dry season that goes from December to April, and rainy season the rest of the year.  The good thing is that during rainy season the rain is variable, and even on those days when it does rain, you enjoy sunshine because the rain is on and off.  There are many expat "snow birds",...

Most of expats in Panamá has been motivated by the weather.  Always warm and nice.  Delicious breeze and beautiful sunshine in the "summer time", meaning the dry season that goes from December to April, and rainy season the rest of the year.  The good thing is that during rainy season the rain is variable, and even on those days when it does rain, you enjoy sunshine because the rain is on and off.  There are many expat "snow birds", especially from Canada, who come just for the cooler months.

 

If you don´t like warm weather, you always have the option to go to cooler places in the mountains.  But usually, the hot weather is only during the day. At night it is always nice, and almost everyone has air conditioning.

 

At the same time, this kind of weather  gives you the opportunity of wearing tropical and casual clothes, if you are not in a professional business or in a social event.  Just relax and have peace of mind because you do not have not to worry about the hundreds of layers of winter clothes and snow.  Simply enjoy shorts, walking or bike riding on the causeway by the canal throughout the year.  The perfect weather.