Should you retire abroad?
Hello Eagle Wealth Community,
If you were going to move overseas during retirement, where would you go?
According to International Living, the most popular places for Americans to retire in 2019 were Panama, Costa Rica, and Ecuador.1 All of the countries on the list are relatively cheap, are welcoming to foreigners, and have excellent medical care.
Why not places like Switzerland or New Zealand? Cost, mainly. For most expat retirees, the desire to uproot and move overseas is driven by a desire to do more with their retirement savings than they can afford to within the U.S.
In this issue of the Visual Insights Newsletter, we discuss the growing movement of U.S. retirees heading abroad and talk through some of the issues they face when they go.
What would your dream retirement destination look like?
A palm-fringed beach retreat with a view of the ocean?
A cabin in a lush river valley?
Or maybe a fast-paced city with great restaurants and nightlife?
What factors would you want to consider in your choice?
Some countries have thriving American retiree communities that make the transition abroad easier. Others would require more work to build the retirement life you desire.
The bottom line is to take the time to really think through what you’re looking for in a retirement destination. If it’s something you’d like to explore, give us a call and we’ll help talk it through.
Your Eagle Wealth Team
What do you look forward to every summer? For Ian, it’s spending quality time with family and enjoying the simple things in life.
“Our family is extremely close, and we always make it a point to get the gang together at least once a year. COVID-19 prevented that from happening last year, so we started planning a surprise 85th birthday party and family reunion for grandpa at the lake cabin in Montana.”
The Week on Wall Street
Stocks turned lower last week amid the increasing probability of a Fed tapering, mixed economic data, and growing concerns about the economic impact of the Delta variant.
The Dow Jones Industrial Average slumped 1.11%, while the Standard & Poor’s 500 lost 0.59%. The Nasdaq Composite index slipped 0.73%. The MSCI EAFE index, which tracks developed overseas stock markets, surrendered 2.94%.1,2,3
After the Dow Industrials and S&P 500 index climbed to new record highs to begin the week, stocks pulled back amid weaker-than-expected retail sales, festering concerns about the Delta variant, and slowing growth in China.
The stock market retreat accelerated mid-week with the release of the FOMC (Federal Open Market Committee) meeting minutes, which signaled that Fed officials may be ready to begin reducing its monthly bond purchases before the end of the year. Stocks managed to stabilize on Friday, paring some of the week’s losses. Consumer staples, health care, real estate, and utilities were the top-performing groups.4
Taper by Year End?
Two weeks ago, multiple regional Federal Reserve Bank presidents suggested that the economy was strong enough to justify tapering the Fed’s monthly bond purchases.
Last week, that chorus grew a bit louder with the release of minutes from July’s FOMC (Federal Open Market Committee) meeting. The precise timing was left undecided, with some officials believing it should begin before year-end, while others thought waiting until the start of the new year was the better choice.5
This Week: Key Economic Data
Monday: Existing Home Sales. PMI (Purchasing Managers’ Index) Composite Flash.
Tuesday: New Home Sales.
Wednesday: Durable Goods Orders.
Thursday: Jobless Claims. Gross Domestic Product (GDP).
Friday: Consumer Sentiment.
Source: Econoday, August 20, 2021
This Week: Companies Reporting Earnings
Monday: JD.com, Inc. (JD), Palo Alto Networks, Inc. (PANW).
Tuesday: Best Buy Co. (BBY), Intuit, Inc. (INTU).
Wednesday: Salesforce.com (CRM), Ulta Beauty, Inc. (ULTA), Autodesk, Inc. (ADSK).
Thursday: Marvell Technology, Inc. (MRVL), Workday, Inc. (WDAY), Dollar Tree (DLTR), Dell Technologies (DELL), VMware, Inc. (VMW), Peloton Interactive, Inc. (PTON).
Source: Zacks, August 20, 2021