Entries by Pat

5 Ways to Prepare Your Finances for Life as an Expat Retiree

Life as an expat retiree awaits, and you’re ready to make the move!

Going from idea to reality is a long road, and it requires careful planning and an eye for strategy. After all, even in a world more interconnected than ever, moving from one country to another is still a major transition.

These 5 financial planning tips will help you get started. Just remember that these tips don’t cover everything you need to know –check out the rest of our series on life as an expat retiree to learn more!

How to Pay for Healthcare as an Expat Retiree

One of the biggest issues facing those in retirement is healthcare. From navigating Medicare enrollment to considering the possibility of long-term care down the line, there’s simply a lot to think about.

For those moving abroad, healthcare planning is even more complex – and arguably even more important. So what do you need to do to make the most of your expat retirement?

In this article we’ll cover some of the basics of medical budgeting for expats, but that’s not the only thing you’ll need to think about as an expat retiree. Keep an eye out for more articles with tips and advice on financial planning for retirement abroad.

Where To? The Realities of Retiring Abroad

Many retirees dream of retiring to a tropical paradise or meandering around the globe. Whether it’s a classical villa in a remote village or an adventure over rugged terrain, there’s an expat retiree daydream to suit nearly all of us.

But while the dream is fantastic, moving abroad is a serious undertaking, and there are a number of financial and practical issues that you need to take into account before committing to a move.

In this article, we’ll touch on some of the most basic mistakes and oversights that expat retirees make in choosing a new home base.

The Open Secret of Medicare Costs

Imagine going to the pharmacy to pick up medication, only to find that your costs have doubled, tripled, or worse. While many retirees have heard of the Medicare prescription drug coverage gap “donut hole,” some only realize they’re actually in it after getting the shock of their life at the pharmacy counter.
Are you at risk of falling in the donut hole? Here’s what you need to know.

5 Ways to Maximize Your Medicare Benefit

Medicare is an important part of retirement financial planning, but it can feel overwhelming. Between all the terminology and the lists of potential costs and benefits, it can be hard to know exactly what you’re getting.
That’s why it pays to do research (by reading this article, you’ve already started!) so that you know how to choose a plan and make the most of it.
Use these five tips to maximize some of the important benefits of Medicare while saving on costs (and hassle).

How to Choose a Medicare Plan

Medicare is famously confusing for the uninitiated. If you’re feeling overwhelmed by details, coverage options, and “donut holes” you’re not alone. Choosing a plan is easier if you have a framework for assessing and comparing your options. Here’s how to get started.

What Are My Medicare Options?

If you’re approaching retirement, you’ve probably thought about Medicare or even done some research online. And one thing you may have noticed is that choosing a plan can get very complicated very quickly.
Here’s what you need to know about Medicare and how to start deciding which plan might be right for you.

Retirement is important — but don’t forget to save for college!

You might be worried about retirement planning, and of course you should be.

According to one study, only 24% of baby boomers feel confident that their savings will see them through retirement. Another study puts the number at just 21%. Between rising health care costs, low savings rates, and a healthy dose of uncertainty, it’s no wonder if you’re laying awake at night.

But it’s not just retirement that’s getting more expensive: it’s college.

As important as retirement saving is — and it is, or should be, a top priority for most people — college is becoming an increasingly critical part of the family budget.

The secret to improving your chances of financial aid

Navigating the college financial aid world can be complicated. Between all the paperwork, complicated formulas, and rules, it might even seem impossible!

But maximizing financial aid comes down to one thing: the balance between your assets, income, and debts.

To make the most of it, you’ll want to do what you can to reduce your income and assets while using debt as prudently as possible. Here’s how.

5 ways to finance your child’s education

Even in the early days of parenthood, it’s hard not to worry about how to pay for college.

All you need to do is look at the headlines. Inflation rates have declined in recent years, and yet private non-profit tuition at four-year colleges rose 11% since 2010 and public tuition rose 13%.

So how will you pay?