When you close your eyes and picture retirement, what do you see? You might, like many Americans, see the same home you live in now, only with perhaps a little more time to pursue your hobbies. If, however, you picture something bigger and better, then you might be the right candidate for foreign retirement.
Retirees are increasingly gravitating toward an international life, and there are plenty of reasons why. As you begin putting together your plans for the future, make sure you're well aware of the many benefits of foreign retirement in a place like Gran Pacifica Beach and Golf Resort in Nicaragua.
Potential Tax Benefits
Retirees who are living on a fixed income often want to do everything possible to minimize their expenses. Although paying taxes is generally non-negotiable, retiring overseas to a jurisdiction with friendlier tax laws can reduce what you are legally obligated to pay.
Through foreign earned income exclusions, you may be able to pay little or no taxes, setting aside more of your hard-earned money to spend on the fun side of retirement.
More Affordable Cost of Living
Another undeniable benefit of foreign retirement is choosing to live in an area that is simply less expensive than your current home. In Nicaragua, for example, the cost of living is much lower than it is in most European or North American cities.
Everything from dining out at local restaurants to buying real estate is cheaper, which means that every dollar you have can stretch further. Rather than retiring in the United States and having to cut back, you can retire in Nicaragua and enjoy the comfortable life you deserve.
Incredible Climate and Surroundings
If you live in an area where winters are cold and miserable, ice storms are common or snow prevents you from staying active, then foreign retirement can be a promising alternative. Boasting warm weather throughout the year, Nicaragua is definitely an appealing option for those who want to enjoy the sun, the sea and all kinds of outdoor activities during retirement.
At Gran Pacifica, you can tee off at the golf courses in January or head to the beach for a swim in March. Foreign retirement means no longer being tied to the whims of seasonal weather.
Cheaper Medical Care
Retirees should always factor in medical care when it comes to picking the right place to call home later in life. In the United States, even those with pricey health insurance plans can end up spending a lot out of pocket on prescriptions or on unexpected medical emergencies.
If you want to enjoy world-class medical care without spending a fortune in the process, it might make sense to consider foreign retirement. Nicaragua, for example, boasts topnotch healthcare facilities, and recipients of that care pay a fraction of the cost of that in the United States.
Eligible to Collect Social Security Overseas
One of the most common misconceptions about foreign retirement is that you won't be able to collect Social Security while you're living abroad. However, that could not be further from the truth! Even if you're a full time resident at Gran Pacifica, you can get Social Security and make the most of your retirement.
Clearly, foreign retirement brings with it a number of benefits. Make the most of these advantages, and truly enjoy your retirement by investing in property at Gran Pacifica in Nicaragua.