Live And Invest Overseas Podcast #8: Isn’t there a Social Security penalty for retiring overseas?

Eighth podcast episode by Kathleen Peddicord and Lief Simon––Live And Invest Overseas Podcast

Subscribe to our Newsletter at https://www.liveandinvestoverseas.com...

Join our Overseas Living Clubhouse at https://www.facebook.com/groups/overs...

Here are the question addressed in today's episode:

Mike B., from the United States asks:
 
We are planning a move out of the United States, possibly to Belize. Our retirement will come from pension plans in the United States. If we receive our checks in Belize, we understand that we still will have to pay federal taxes. However, there is no domicile state that can collect taxes. So doesn’t that amount to a tax break? Or am I missing something?

Jeff F. from the United States asks:
 
Isn’t there a Social Security penalty for retiring overseas? Many in my wife’s family believe so. They say they would get only two-thirds or three-fourths of their checks if the Social Security Administration knew they retired to Mexico.

Gary C. from the United States asks:
 
Kathleen, thank you for all of your information. I love reading your dispatches and also am enjoying your podcasts.

I know that some income earned overseas can be excluded from my U.S. tax return, but what about an Internet business where income is derived from many different countries?

In other words, if we move to Panama to run our business, is the income excluded regardless where it comes from, even if it comes from the United States.

Mark T. from the United States asks:
 
If I move overseas, could I ever return to the United States?