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Retiring in Europe?
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nomad soul



Joined: 31 Jan 2010
Posts: 11405
Location: The real world

PostPosted: Thu Aug 25, 2016 9:22 pm    Post subject: Reply with quote

Teacher in Rome wrote:
Unless you have nerves of steel, you might want to give Italy a miss. 90% of it is earthquake-prone as we have just been reminded. (And the beautiful, out-of-the-way places are not so well served in an emergency.)

Not to mention the floods that hit a half dozen or so European countries this year.
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Teacher in Rome



Joined: 09 Jul 2003
Posts: 1286

PostPosted: Fri Aug 26, 2016 8:53 am    Post subject: Reply with quote

Quote:
Not to mention the floods that hit a half dozen or so European countries this year.


Very true! Still, glad you're located in "terra firma" Nomad Soul! (Definitely not Europe then!!)
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aces



Joined: 17 Nov 2005
Posts: 3

PostPosted: Wed Sep 07, 2016 2:06 am    Post subject: Reply with quote

I know I'm late to the party, but ever since our first trip to Europe, my GF's been on fire about moving there, so I've researched this topic pretty thoroughly. I'll assume you don't have EU residency rights or 1-percenter assets. Here are my takeaways:

1. AFAIK, no EU country has a retirement-specific visa, and the normal categories (work, study, etc.) don't really fit. You'll have to persuade an army of rule-bound bureaucrats to "think outside the box" to let you in. Good luck with that!

2. Exchange rates are a total wild card. Right now the EUR/USD rate isn't bad ($1.12 per euro), but in 2008 the rate hit $1.60 per euro. That would play havoc with your finances if it came back, and of course it could go higher. To make matters worse, you almost certainly wouldn't be allowed to get a job to make up the shortfall.

3. Health insurance is another issue. Medicare is no good outside the US, and although all EU countries have national health schemes, it's very unlikely you'll be granted access to them. You'll have to rely on private insurance, which isn't cheap to start with and only gets pricier as you get older. By the time you hit 80 or so, you'll probably be forced to return to the US, because your premiums will be unaffordable even if the insurance company doesn't simply cut you off.

Finally, as someone upthread pointed out, immigration laws aren't getting any looser, so even if they let you in, there's no guarantee they won't change their minds down the road.

Hope this helps!
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uh huh



Joined: 14 Oct 2011
Posts: 110
Location: United States

PostPosted: Sat Sep 10, 2016 10:04 pm    Post subject: Retiring in Europe? Reply with quote

Ace,

Yes, very good information.

Thanks to all of you for your thoughts.

A ver...
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scot47



Joined: 10 Jan 2003
Posts: 15323

PostPosted: Thu Sep 29, 2016 3:53 pm    Post subject: Reply with quote

Marriage CAN be a path.

In the UK the obstacle is that to marry a citizen and settle here the UK citizen getting married needs to prove a UK income of £18,600 or savings of £62,5000

Do that and get a visa and you will then have access to the National Health Service.
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coffeespoonman



Joined: 04 Feb 2005
Posts: 510
Location: At my computer...

PostPosted: Wed Nov 02, 2016 7:51 am    Post subject: Reply with quote

Scot47 - out of curiosity, is that a misplaced comma or an extra zero? Confused
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danshengou



Joined: 17 Feb 2016
Posts: 434
Location: A bizarre overcrowded hole

PostPosted: Mon Nov 07, 2016 11:11 am    Post subject: Reply with quote

coffeespoonman wrote:
Scot47 - out of curiosity, is that a misplaced comma or an extra zero? Confused


an extra zero
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scot47



Joined: 10 Jan 2003
Posts: 15323

PostPosted: Mon Feb 20, 2017 8:17 am    Post subject: Reply with quote

I often make deliberate misatkes to see if my readers are paying attention to the drivel that I write.
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La Reve



Joined: 30 Jun 2012
Posts: 75
Location: Ici

PostPosted: Sat Feb 02, 2019 9:52 am    Post subject: Retiring in Europe? Reply with quote

An American friend went through all the nearly impossible hoops (closed consulate in San Francisco, lack of communication with country's consulate - including email) but now has legal residency in Portugal. I have a USA and EU passport, so it was easier for me.

So, yes, Americans can retire in Europe, but there is a lot of paperwork involved, including documentation of income.

I pay $500 a year for private health insurance for people over 65 (not easy to find!) Most medication is much cheaper than in the USA and some can be bought without doctor's prescriptions. My doctor visits cost about $20 euros with insurance coverage.

I had looked at Ireland and Italy but both were nearly twice as expensive as Portugal. Sometimes I wish I had tried harder to find a good place in France.
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