Access Wealth advisor Leo Chubinishvili, CFP®, was recently featured in Total News, discussing key financial considerations for individuals thinking about retiring abroad.
The article highlights that while the idea of retiring overseas can be appealing, often due to lower costs of living, lifestyle benefits, or climate, there are several financial complexities to navigate. Leo points out that retirees may still have U.S. tax obligations even if they live abroad, in addition to potential taxes in their country of residence. In this case, two accountants are recommended: one in the U.S. and another in the destination country.
Healthcare is another major consideration. Access to quality care, eligibility for local healthcare systems, and whether U.S.-based coverage, such as Medicare, applies overseas can significantly impact both cost and planning decisions. Currency exchange rates, political and economic stability, and estate planning differences are also important variables that can affect long-term financial security.
Read the full article on Total News:
Thinking About Retiring Overseas? Here Are Important Financial Factors to Consider
What This Means for You
Retiring abroad can offer exciting opportunities, but it also introduces additional layers of complexity that require careful planning. From taxes to healthcare to currency risk, having a clear strategy in place can help you avoid surprises and make the most of your retirement lifestyle.
Learn more about Leo and how he helps clients understand how international retirement planning can work inside of their long-term financial plan.
This article also appeared on CNN.com (CNN Business) section.
