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Aguirre
9/11/2017 12:15 EST

General question, and thank you in advance for your comments.
I met with my financial advisors in the US recently, and had asked them in advance to poll their international clients and other resources to give me the on-the-ground view about moving from the US to one of several countries in Western Europe and Central America. I’d read all of the ‘best of” lists in Forbes, etc., but wanted some from the 5000’ vs 50000’ perspective. My income is from trusts here (not huge), and so they were particularly focused on questions about tax, administration, logistics, and the like.
Bottom line: they essentially advised me to stay in the US and take long vacations. They cited taxes, wealth taxes, hidden wealth taxes, costs of paying for both US and OUS representation, the classic red-tape issues (bank accounts, drivers licenses) and who knows what else.
But I know that many of you, and many others, have concluded that you made the right decision, would make it again, and are very happy where you are; congratulations!
My question is, what do you think the difference is? Did/Do you all just suck it up financially to support your lifestyle decision (very reasonable)? Are they not understanding some other factors of which you are aware that makes the move(s) much sweeter? Are they overly squeamish?
Thanks for your help.

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MissDaisy
9/11/2017 16:32 EST

Aside from having to pay for moving all my belongings from the US to Cyprus where I live now, I have not had any major expenses here that I would not have had in the US. My overall cost of living is lower than if I were in the US, allowing me to retire early (at age 52). If you are willing and able to do all the things necessary to live in another country, rather than paying someone else to do, your costs to relocate will be minimal - I'm talking about applying for residency permits, getting a driver's license, etc. I had no problems getting a bank account in Cyprus. I do not pay any additional taxes here. I found the process straight-forward and easy. I disagree with what your advisers told you, at least in my circumstance.

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