The website Benefit News published the article named ‘Are employees financially ready to live to 100?’. Tthey tackle the subject of retirement in a peculiar way, as they talk about a retired American couple living in San Miguel de Allende and their situation.
“Instead of amassing $1 million in savings to prepare for golden years, clients should consider asking themselves if they are prepared financially for a 100-year retirement horizon, writes a Forbes contributor.
People are expected to live longer, “so, it’s important to think about a longevity portfolio that can outpace the rate of inflation,” writes the expert. “There isn’t any one particular age to plan to. But the question–How long do you expect to live?—is a good place to start.”
If you’re thinking of retiring in San Miguel de Allende
A retired couple has decided to move to San Miguel de Allende, Mexico, because of its excellent climate, cultural offerings, quality of life, as well as low cost of living, according to this article on The Wall Street Journal. However, inflation offsets the savings they make from their daily expenses.
“We pay income tax to Uncle Sam, but none in Mexico, though we do pay local property tax, which, at less than $1,000, pales compared with what we paid in New Jersey….,” writes the wife.
“As registered residentes permanentes (permanent residents), we have a visa that permits us to travel in and out of Mexico anytime, as well as a capital-gains tax advantage when selling property.”
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Source: benefitnews.com