US citizens flee rising costs


Expat Globe

More and more US citizens are leaving America for an easier life overseas, due to rising costs in many aspects of US life.

Property prices and healthcare have been cited as two of the min costs that drive Americans to popular expatriate destinations, including those in the Far and Middle East such as Singapore and Qatar.

Fully expatriating has become the logical step after many US citizens began to explore “health tourism”. As US citizens have to play for healthcare, some people struggle with the fees associated with illness and injury, leading them to seek cheaper healthcare abroad. However, no longer just making a short journey, Americans are starting to fully expatriate, as are older Americans. One soon-to-be expat said: “We can’t afford to retire here, so we’re looking at moving south of the border. We’re considering Mexico, Panama or Ecuador.” Another added: “Health care and insurance costs alone are killing us. Add property tax, and it’s too much, especially when you consider that the value of our house in the States is falling fast.”

With the western economies also suffering, it’s not surprising that US citizens are following the lead of Brits and seeking better lives in foreign countries. If you are an American citizen who is interested in moving abroad, speak to a recommended IFAwho can give advice with regards to the financial scenarios that come about when moving abroad.