Yahoo News: on Social Security and broke? Move to Belize

Posted on December 31, 2013 by Fred Stiening

The report

Colombia is another good option.

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17 Responses to Yahoo News: on Social Security and broke? Move to Belize

  1. Art Stone says:
    December 31, 2013 at 9:42 am

    Reading through the 1000+ comments to this story, most from expats or people who lived in the places she suggests, it’s almost unanimous that it’s a bad idea.

    The one comment that stood out was nobody in central and south America pays the asking price for anything. Everything is expected to be haggled over. If people know you have money, the price goes up. If you don’t haggle, next time the price is even higher.

  2. Nidster says:
    December 31, 2013 at 7:13 pm

    I looked into an ex-pat lifestyle for the past several years and found there are big drawbacks and pitfalls galore. Reading through the comments would be the best wake-up call for anyone wanting to leave America. Sure makes me want to try to do more to expose the rot at the top in our government, and hopefully keep the country free and the best place to live. Another looming problem is banking outside the US. I opted-in to Mark Nestmann’s emails a few years ago and here is a recent blurb:

    “FATCA, otherwise known as the Foreign Account Tax Compliance Act, is one of the most arrogant and one-sided laws ever passed by Congress. I’ve written quite a bit about it in the past, almost always on how it negatively affects the average American trying to do business offshore. Today, though, I actually have some good news to report. But first, a summary of what this abomination actually does.
    FATCA forces what the law calls “foreign financial institutions,” or FFIs, to disclose to the IRS the financial dealings of all “U.S. persons” they deal with, even if doing so would violate the banking and privacy laws of their country. As of next July, a 30% withholding tax will apply on many money transfers out of the USA to FFIs not willing to work under the regulations. In other words, the non-compliers are effectively blocked from doing business with anyone in the USA – or indeed in US dollars at all. (After all, losing that much on any given transaction would be business suicide.) The definition of an FFI is very broad, and includes banks, broker/dealers, insurance companies, hedge funds, and private equity funds. A U.S. person is a U.S. citizen, a U.S. tax-resident foreign citizen, or a domestic trust, partnership, corporation, or estate. One (possibly intentional) consequence of FATCA is that thousands of FFIs all over the world have gotten rid of their U.S. customers. No U.S. clients equals an easier road to compliance. Naturally, this has made it especially difficult for the nearly seven million expat U.S. citizens to carry on normal financial relationships in their adopted countries. Our own U.S. citizen overseas clients have had bank accounts closed and mortgages cancelled. They tell me that it’s much more difficult to do business internationally, because their foreign partners don’t want to risk a fight with the IRS.”

  3. Parrott says:
    December 31, 2013 at 7:20 pm

    well, if we were ‘young bucks’ again, Belize & Columbia may not be so bad an opportunity. Cause, probably in a couple years or 2014, they may have to evacuate Japan. Those people need somewhere to go. Then you will have all those pretty Japanese girls running around in the western hemisphere. Brave new world.
    We love sports
    parrott

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