US Markets
Home›US Markets›Sectors›Survey finds many would-be expat retirees plan living…
Survey finds many would-be expat retirees plan living in multiple countries
International Living says 83% of respondents interested in retiring abroad are considering moving between more than one country, with US tax residency and banking access cited as key planning hurdles.
A new survey highlighted how many prospective retirees want an itinerant lifestyle abroad rather than settling permanently in one country. Yahoo Finance reports that International Living found 83% of people interested in retiring abroad are considering living in more than one country, while only 16.5% said they want to retire permanently in a single location. International Living’s executive editor, Jennifer Stevens, said people today have a broader sense of what overseas possibilities exist than they did a decade ago, and that more advisors may need education about where the risks are for clients seeking multi-country retirement. The article notes that the lack of a permanent residence can complicate financial planning. One major challenge raised is residency and taxes, because people who keep moving may still owe US taxes. Andrew Fisher of Cerity Partners told Yahoo Finance that retirees from high-tax states should consider establishing residency in lower-tax states before adopting a nomadic plan, and he flagged practical issues including difficulty accessing funds abroad without a foreign bank account and the importance of understanding local tax residency rules. The article also warned that accidentally becoming a tax resident of another country can change how US retirement distributions, investment income, or Roth IRA withdrawals are treated. Francheska Ruiz, a CFP at Tobias Financial, said the first conversation with clients should focus on those tax implications.
type_note_overrides_applied_by_writer_not_supported_in_schema? wait no schema