I did everything on line. Still do. Haven’t stepped foot into a SS office since I first signed up 11 years ago.
If someone moved their young family to a place like Costa Rica, how would their future life potentially be impacted? I guess they would live there, move back to US for school? Are there high paying jobs there? Or high paying for Costa Rica living?
I did just that and in a very conservative part of the state, and this lib-tard does just fine. Beautiful country. Good people. My across the street neighbor is a dyed-in-the-wool conspiracy theorist. He has my back and I have his. But don’t move here…we’re full!
Private school then college in the US or Europe. From there where they go is their choice IMO. They’d likely have dual citizenship.
Yeah college in the US or Europe most likely then let the kids decide where they want to live.
That’s true; however, there is a threshold that has to be met. I think the current threshold is $120K. So, anything earned under that isn’t US taxed. The part that sucks though, is a US tax return still has to be filed.
From a SS standpoint isn’t that money still taxable regardless of living abroad since it is US earned income? Also, if you renounce citizenship wouldn’t you forfeit that income?
Funny you say that. I live in a rural area and most of my watering hole buddies are very right wing and we’re still thick as thieves. Walk in at any given time and if 10 people are in there at least 3 are packing a pistol.
I’m an old country boy raised on a tobacco farm so I feel right at home.
I’m not “out of my element” either. I’m not ashamed of my beliefs and leanings, but I realize that arguments do nothing but stir up stomach acid! Off to lunch momentarily with my conspiratorial buddy.
So to narrow it down, we know it wasn’t Asheville.
Yes, if you are a U.S. citizen living outside the United States, your worldwide income is subject to U.S. income tax, regardless of where you live. However, you may qualify for certain foreign earned income exclusions and/or foreign income tax credits, which is what I was talking about in my previous post.
With regard to what happens if one renounces US citizenship: Renouncing doesn’t always get you completely out of the US tax system. If you still have income earned from the US, you’ll have to continue to file, but you will file Form 1040-NR (Non-Resident) after expatriation. (I had to google that one)
I live 10 min from downtown Asheville.
The rural surrounding areas like where I live are absolutely nothing like downtown. Most of us won’t go downtown until unless we do a brewery or ballgame. It’s not as crazy as some make it out to be but the parking sucks and like every decent sized city there are a lot of homeless
Close, but no cigar!
I love Asheville. Just joking with Early.
I go to Asheville when there is a gun at my head (or when I have an appt at Mission). I’d rather navigate Dante’s Hell than try to get around in that town anymore! I miss 12 Bones, Luella’s, and Abuja’s, but crest la vie.
And Wicked Weed, of course!
I’m gonna guess Waynesville…
Tryon. Love it! Horse country!
I’ve been splitting time between Charlotte and where I grew up in Tennessee for the past year and a half (grandparents’ health) and I’m shocked by the people moving here. This was one of the most economically depressed areas in the country but work from home, increased internet coverage (Starlink) and what was cheap land prices has made a bit of a boom possible. Land isn’t cheap anymore though.
I always thought this area was too far off the beaten path in Appalachia for this kind of development but looks like I’m being proven wrong. It’s interesting to me to see the interactions with the new arrivals and old timers because I got feet in both worlds.
And yes it may be a stereotype but I would assume any local you are interacting with is strapped haha.
Can’t drop this topic without offering some additional wisdom! Anything worth doing, is worth doing poorly! Don’t forget that!!! To be a successful retiree, you’ve got to be a “sorry person”. Not sure that this is literally the truth, but there is a kernel there. Have hobbies! Hiking. Writing. Painting. Sculpting. Traveling (have $$$). Retirement has been great but things happen. Spouse dies. Back craps out on you. About all I can say about that stuff is “Have a back-up plan!” Have fun. And good health!