Why Collect Social Security If Retiring Abroad

Since it is less expensive to live abroad, numerous retirees think about whether they can get their Social Security check sent to them while living abroad.

The short answer is yes; the US Treasury reports that they send 450,000 Social Security checks overseas…the State Department evaluates that more than 5 million Americans live outside the US.

To start with, in spite of what some think you don’t quit being a US resident on the off chance that you live in say Mexico. You are a US citizen…unless you deny your citizenship at a US consulate…and why might you do that.

There is a special case for those that live in North Korea or Cuba…not precisely retirement problem areas.

The coordinate store is accessible and firmly proposed when you live overseas…you don’t need to stress over checks being lost and cash trade rates. You additionally get your cash around 1 to 3 weeks speedier on the off chance that you utilize coordinate store.

Since Medicare is not substantial abroad, you may get a raise by resigning abroad. At present $110.50 is deducted from my check each month for Medicare An and B. if you surmise that is an issue, reconsider, social insurance abroad is more than sufficient and a whole lot less expensive because of fewer claims and specialists not buying negligence protection.

For example, you can purchase national medical coverage in Mexico for $270 a year…a parcel less expensive than your Medicare derivations.

How far does a Social Security check go abroad? In Latin America…Mexico, Panama, Costa Rica, Ecuador, Uruguay, Belize you can live exceptionally well for $1500 to $2500 a month.

Resigning abroad is a choice an ever increasing number of Americans will consider, particularly with the weak US economy.

Collecting Social Security if resigning abroad…do not let that keep you away from living better for less.