THE ALLURE OF RETIRING ABROAD.

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  • Author(s): BLOCK, SANDRA (AUTHOR)
  • Source:
    Kiplinger Personal Finance. Nov2023, Vol. 77 Issue 11, p52-57. 6p. 5 Color Photographs.
  • Additional Information
    • Subject Terms:
      EUROPEAN Union; RETIREMENT planning; INDIVIDUAL retirement accounts; RETIREMENT income; ACCOUNTANTS; MEDICARE; ECONOMIC systems; RESIDENCE requirements; REAL estate agents; BANKING industry
    • Abstract:
      RETIREMENT RETIREMENT MANY older Americans dream about traveling in retirement, but a growing number of intrepid retirees are taking their wanderlust to another level. Italy offers a similar elective residency visa, also known as a retirement visa, if you have retirement income of at least €32,000 a year (about $34,880), a valid passport, and proof that you have health insurance and a place to live. As a result, while withdrawals from Roth IRAs are tax-free in the U.S. as long as you're 59½ or older and have owned an account for at least five years, not all countries recognize that exclusion, he says. Portugal, which has become a haven for expats from around the world, provides a one-year residency visa to retirees from outside the European Union who have retirement income of at least €760 a month (about $828) and proof of a place to live. [Extracted from the article]
    • Abstract:
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