Quick fact. US retirees can receive your SS benefits in a foreign country. I left the US in 2018 the day I started collecting SSR. I have lived in Uganda since. My monthly benefit is direct deposited every month to my local bank. As it is my only [🤞identifiable] income I am not required to file returns. BTW Uganda has free government healthcare, even for foreigners. Kenya, where I live for part of the year has a government health plan. My premium is $34
@@amva55 No Thank you to what? He isn't giving anyone any suggestions or advice. He is just telling his story. Someone telling their story isn't an invitation for you.
Did you have to file and do the paperwork in the US or is online an option. Do the social security administration require you to have an American physical address for correspondence or is email address enough?
The average retiree, I believe, should have been able to have enough to last the rest of his days. I t just depends on choices during your working days, just as I came to realize later. Surprising how I still netted more $2m. by retirement. And this is while living in New York!
I don't think he was. I think he had good savings habit from early in life. Which is a habit i shared until a friend introduced me to the stock market, I was intrigued. This was just 15 years to retirement, and I had only $280k to my name and no idea on what equities to acquire until i got referred to a Smart- Advisor recommended Advisor who helped me allocate to the right positions and i'm just 15% short my $1m retirement goal
She goes by ‘Annette Christine Conte ''. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finance, but so glad I did!!
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for…
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Filing taxes is now done online, doesn't matter where you are living. My SS benefit hits my U S Bank on the 1st of the month. Overseas, cash is King, You go to an ATM withdraw Dollars or the Script of whatever Country your in. Why would you need to open a bank account in a Foreign Country. And P.S. moving to another Country does not mean your surrendering your Citizenship.
@@faramarzmokri9136There are some US banks that waive ATM fees and reimburse other bank’s ATM fees. I use my Schwab debit card at overseas ATMs. As of today never had a problem. Betterment also has the same deal.
I’ve worked for the last 50 years continuously, and it has been stressful at times. But looking up to retire in the next 4 months, has add even more stress. It shouldn’t be this complicated. I’m sure you ladies are try to help, but our system (US) is probably the most complicated in the world, and where politics play a big part. It’s no worder whey so many affluent people, decide to renounce US citizenship, and move abroad, because they want to keep as much as possible from their earned income. Kudos for the video and info.
My mother did. RIP Mom. The problem is that Money is taxed again in Canada because their pensions has to be reported to the government annually. So when the money transfers over to Canadian money they are Taxed along with their government pensions.
So the expats get taxes both places, US and Canada? I am thinking of moving to Canada when I retire. That means the IRA, 401k withdraws also get taxed too?
I live overseas on my SS check. I have a wire transfer every month and haven't had any issues whatsoever. Further, I pay no taxes and the IRS doesn't require me to file a return because I am below the level required for paying taxes after filing out their own form showing my deductions both standard and filing jointly with spouse as to what amount of my SS taxed. I've always been below that level for the past 14 years.
@@omoshiroit8153 No, my SS is a direct deposit to my US bank. My US bank then sends me the transfer through another bank (third-party transfer) and forwards it to me overseas. No fee in the US but my fee comes out here where I live which amounts to around 15 bucks.
@@omoshiroit8153 Best is to open an account with a bank that is in both countries, like Deutsche bank for Germany, BNP for France and so on. SS can be deposited in the US and you withdraw in your expat country. Changing from Dollar to Euro has a fee, but that's for all countries you will be in.
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
I can personally connect to that. I started working with Melissa Terri Swayne a fiduciary financial counselor, and my profits were assured. In such circumstances, I would always advise hiring a professional to help you through choppy markets and only give you indicators and strategies for figuring out when to enter and exit the market.
Please explain to me how you think I possess such abilities. I need to find a more profitable investing method to use my money because inflation is destroying it.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me.
If you can, apply for SS before moving abroad. It took me over 6 months to finally get approved because I applied immediately before moving. They transferred my file overseas. If you can use a US address without affecting your tax status, give that to SS. That will avoid the “drop dead letter” they send to expats. If you lived in California, you must get rid of all connections to the state or they will get state taxed. Even voting overseas can trigger them to charge you all years you didn’t file with Cali. They took $15k from my account and gave me a bill for their balance. My tax man fixed it for me.
My wife and I have been considering moving from the US to Germany when I retire and begin receiving social security. But two things we are concerned about. Because she is a German citizen (she has read) that after a year of us living in Germany she is not eligible to continue receiving her portion (half of mine) of social security. The other part of our concern is that we cannot receive any Medicare living in Germany. Private heath insurance would be sky high in Germany for an old retired couple.
It seems very wrong for the United States to tax citizens living and earning abroad. It’s like strong-armed robbery because it’s under threat of extradition, or paying fiefdom to a king. Neither one is morally defensible. What are those taxes paying for, if you are living and working abroad?
@ She never did return to the US once she moved in with us. She was a US citizen, so no need for her to return every 6 months. The 6-month requirement applies only to green card holders, afaik.
As a 61 year-old american living in Austria this was pure gold. I look forward to watching ALL your videos!!! One thing I learned today is that if you have sick leave and are paid for it by your austrian employer, you might get a letter from the Finanzamt saying that you owe taxes on it. Since in Austria you usually don't file unless you are claiming some deductions, it is easy to overlook this!!
Here’s the secret. As long as the benefits you receive from any “treaty” country are public, as in governmental, you will not be taxed by any jurisdiction. I receive social security befits from Spain, Portugal, and the US, and pay zero tax on any of it irrespective of where I live. Right now I’m in New York State, but two years ago I was in Palma Mallorca. No problem. But if you have private pension or annuity income it’s a different story, so be aware.
Excellent video, I have worked in the US and got my 40 credits, I have worked in France and Canada as well, as a French citizen I first retired in France and got all 3 countries to pay my benefits in France. Later I moved back to the US as a green card holder and still get my benefits from France, Canada and SSA, thanks to the treaties, and because they are all social security benefits I don't get taxed in Alabama 🙂
This is only true if you are collecting SSDI disability and paid into social security. If you are on SSI disability you can’t take that money out of the country. The government looks at it as a form of welfare because you did not put money into the system or pay into social security. They’re trying to cut that program anyway even if you stay in the United States. You will be cut off of SSI disability if you leave the country for more than 6 months at the current time.
Keep depositing in us bank, debit card your money out in other country and don’t tell them, get a mailbox in a ups store, “ it will be “ suite 123” not a P.O. Box, tell SS you moved to suite 123, have freind check your box every 2 weeks.
Just carry US bank ATM card and have FN bank account. I can withdraw money in other countries or just transfer money from US bank to my local bank account.
I'm 24 years retired in Philippines on social security and calipers. I heard you need 6 months and a day to move to foreign bank but not needed. I have my credit union and credit cards from USA and all work in Philippines. Rates are cheaper in USA than Philippines so don't give up your USA bank for your social security. E-file your taxes. Way easy.
…it could cost you $1500-2500 to renounce your US citizenship - so I think I might keep mine. I’m a US citizen, an Australian citizen, a South African citizen as well as an Overseas Indian citizen, so explored this a while ago - not easy planning life with three passports and an overseas citizenship! Hoping to retire to India and I hope the US and Australian dollars will hold reasonable value by the time I retire. Will certainly check out your websites. Cheers!
Privatizing Social Security could actually be a good thing. Here’s why- as it currently stands, if you contribute for 40 years and then die before reaching retirement, your family/heirs receive nothing. With privatization, beneficiaries could be designated and your account passed to your heirs.
also, people might not take SS at age 62 and take it at 67 or 70 because they don't want to die at age 62 and get 0 bucks. People like me don't have to worry about dying early and spending my 401k down and only getting like 2 years of SS money, if I delay to age 70 and die at age 72, if invested like HSA account, that SS money invested would go to the heirs
They’re already addressing the problem. Taxable SS income went up by 4.4% to 176,100.00 in 2025. Up from 168,600 in 2024. While COLA’s went up just 2.5% for 2025. Look for this trend to continue.
If I recall right, you mentioned if the income is ONLY from SS, you dont need to file or pay taxes. I beg to differ. If your SS exceeds a certain amount threshold, a certain portion of your SS payment WILL BE TAXABLE.
As a 66 year-old Austrian citizen living in America after having worked in Austria for 13 years, I have applied for my retirement benefits at 65, with the agreement between the two governments the work years in America should be considered. I got a letter from PVA asking me to submit my earnings certified. Which I did by email, It has taken a veil, and I haven’t heard from them. Any advice that you could give on this matter will be very much appreciated.
I don’t qualify to file SS yet because I’m not 62 years old but next year I’m moving to another country. Once I turn 62, can I file for Social Security from another country?
Am I the only one waking up in a cold sweat...now that I'm about to retire and the GOP is in ultimate power and may poo poo SS? As I've been planning to retire abroad, my concern is that I'll end up financially stranded in a foreign country without the life preserving Social Security funds that I paid into since I was 13. Any consoling appreciated and instant subscriber to both Vanessa and Nathalies UA-cam channels. Thanks for the help and look forward to more awareness training.
Don’t sweat it and save your anxiety for other problems. Social Security will be fine under Trump, as it would have been under Harris as well frankly. The only thing you may see happening with SS in the next four years would be an increase in the FICA payroll tax income limits, which most people agree are set too low, and which would give a significant boost to the SS Trust Fund. Trump did promise to rescind the tax on SS earnings when you claim benefits prior to FRA and have other income, and if that happens it will be good news for retirees under 67 which is currently the typical FRA. So rest easy, it’s actually good news all around.
Looking to expat next year. My worries are the incoming admin will use foreign residency as a cudgel to fire up the base (‘they’re not "real" Americans if they don’t live in the US and they’re stealing your retirement). At the least COLA could disappear (not sure if it even exists for expats currently). SS will hit a wall in the next few years and I doubt Elon would be willing to see FICA tax ceiling raised. I expect a big push to privatize it once they’re done with Medicare.
Quick answer: YES. There's a whole group of retired military vets in the Philippines who receive SSA benefits, VA stipends and their military pensions via direct deposit.
Hello everyone, I am a new subscriber from the San Francisco Bay Area. This question is specifically for Natalie. I am a U.S. citizen and retired three years ago. I am planning to move to Southeast Asia, specifically either Thailand or the Philippines, because the cost of living is lower there than in the U.S. I am concerned about how I will file my U.S. taxes while living abroad. My only income comes from Social Security in the U.S. I would appreciate it if Natalie could assist me with my tax filing when the time comes, as I need to complete it before the April 15 deadline. Currently, I am still in the U.S. because I need to sell my home, but I am preparing for my departure once my condo is sold. Unfortunately, the real estate market is sluggish due to high mortgage interest rates, and not many homebuyers are currently applying for loans. How will I be able to pay you for your tax service since you live in Austria and I will be in a Southeast Asian country? Thank you!
So just for clarification, as a US citizen, you basically ignore 99% of a tax treaty. But is this still true if you are a dual citizen, working in another country (such as Austria) where you are ALSO a citizen?
Most people do not have to pay taxes on Social Security because they get so little, however you have to pay taxes on Social Security if it is over a certain amount!
To the best of my understanding everyone getting social security retirement must have worked and paid into the SS trust fund for the equivalent of 10 years. if you move out of the country After you Qualify for your benefits it's not a problem.
Beer on the beach sounds good if you have a good health. But, at retirement age, you are likely to have health conditions that prevent you from drinking frequently. Drinking is bad for many conditions, liver, heart or even heartburn, you name it. Your priority changes as you age. You want to remain healthy and pain free and do whatever it takes to remain so. If you can retire at 45, you probably get another 10-15 years to enjoy your vices like drinking or smoking without immediate consequences.
Hi, I have a question: I plan to retire in Peru or Colombia. I plan to live with my Social Security + My Motorola Pension Plan only. In the USA I do not paid taxes. In Peru or Colombia do I have to pay Peruvian or Colombian Taxes???. I will like some help on this subject. Thanks Juan
I live in the Philippines for the past several years but Medicare is deducted monthly on which its not honored. Is there a way this Medicare deduction can be waived?
I have a question: If I had been working in the USA for a long time with a work permit , I would have the right to retire. Can I go back to my country and my ss check can deposit in my country bank?
I am 56 and looking to retire at 57. I will get a pension from my job, VA disability and some form of a bridge of SS I believe + 401k earnings(in which i want to close it and take a lump sum minus taxes owed to close it out). Then we want to retire to the dominican republic and get dual citizenship on just my income and no more working. Will I have to file taxes on this type of income yearly?
My son went to work in Japan since graduating from college 9 years ago. He has never worked in the US. He does file his income taxes to the IRS every year. When he reaches retirement age is he able to collect social security from the US?
I’m a 77 year old, almost 78, tomorrow. Social Security paid me without problems for over 10 years, until January which was the last payment I received, I was told a form was now required, done, no, now another form is required, done, and I’m still waiting for reinstatement. Is this political? Because I ask questions the government doesn’t want?
Your presentation is a little bit childish. Can you bring it down to a more professional level? The info is important & I appreciate it but please do better.
Social Security has nothing to do with U.S. citizenship or residency. If you have worked for at least 10 years and earned 40 points, you can receive Social Security payments even if you have never had U.S. citizenship or residency and live in another country.
I am a retired U.S. Citizen, living abroad in Colombia, S.A., on a RAILROAD RETIREMENT PENSIÓN. When you refer to Social Security, would that be considered in the same category for U.S. Tax purposes?
Hi ladies, I was told by the SSA that if I go abroad I can only get my money deposited to an international bank and not a foreign bank like you said. Which side am I supposed to believe?
There are many foreign banks that have branches in the US and in your country of expatriation. If you are in France, use BNP. If you are in Germany, use Deutsch bank, and so on.
@@JoeC5050 Social Security is not taxed bec. it is considered poverty level in the U.S. IF that’s the only income you have. It’s taxed if you have another pension source (there’s a threshold) so check with your tax preparer bec. if soc. sec. in not taxed in the U.S. it may be taxed in Europe (like in Portugal) but it will not be taxed twice (no dual taxation).
Hi councilor..I'm 68 one year ago I been receiving my SSI also I'm still wrking 24000 on my job is this a good choice ? How long can I wrk an receive .my ssi??
Im undocunented for 10 yrs. and using other person ssn intity.Idid voluntarily departure And my question? Can i get a refund my ssn contribtuion even my federal while no turning back to united states. PLS. REPLY .TNXS
If you were deducted SSS & medicare contribution during your work time it is possible that your contribution is credited to the owner of the SS number that you used. Then there’s no way you can be refunded.
If you denounce your us citizenship, can you still collect your social security? If you can collect, do you have to pay us taxes if you are not a us citizen anymore?
US citizens and even non-citizens can collect social security while living aboard. For expats, they need to continue to file federal income taxes annually
If I retire and move back to my fatherland I would prefer to receive my social sec benefits in USD in an American Bank. All my American CC work fine abroad. It's also very easy to get cash from any ATM there.
To start before moving to Europe ( France) I want to open an account on my next trip to Germany , Austria and France as a tourist . The question is which if these countries would allow an American tourist to open an account? Thank you
Thanks so much for watching! If you have any questions make sure to leave them below and I'll answer them there!
I collected unemployment for 3 years in Thailand doing this, called in my weekly report to a teleprompter every Friday. Priceless…🌞😂
Do a video on disability social security benefits
If they move out of country can they still get their benefits
Quick fact. US retirees can receive your SS benefits in a foreign country.
I left the US in 2018 the day I started collecting SSR. I have lived in Uganda since. My monthly benefit is direct deposited every month to my local bank. As it is my only [🤞identifiable] income I am not required to file returns.
BTW Uganda has free government healthcare, even for foreigners.
Kenya, where I live for part of the year has a government health plan. My premium is $34
No thank you
I would be careful over there since xiping and the ccp are scaming their way into Afraia.
@@amva55 No Thank you to what? He isn't giving anyone any suggestions or advice. He is just telling his story. Someone telling their story isn't an invitation for you.
@@amva55😂
Did you have to file and do the paperwork in the US or is online an option. Do the social security administration require you to have an American physical address for correspondence or is email address enough?
The average retiree, I believe, should have been able to have enough to last the rest of his days. I t just depends on choices during your working days, just as I came to realize later. Surprising how I still netted more $2m. by retirement. And this is while living in New York!
New York is sure as hell an expensive place to live in. Were you affiliated to Wall Street? Because how could you net such a huge amount?
I don't think he was. I think he had good savings habit from early in life. Which is a habit i shared until a friend introduced me to the stock market, I was intrigued. This was just 15 years to retirement, and I had only $280k to my name and no idea on what equities to acquire until i got referred to a Smart- Advisor recommended Advisor who helped me allocate to the right positions and i'm just 15% short my $1m retirement goal
That's incredible. What did you invest in ? I'm really interested in this, because I'm in a similar position at the moment.
She goes by ‘Annette Christine Conte ''. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finance, but so glad I did!!
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for…
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
Could you possibly recommend a CFA you've consulted with?
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Filing taxes is now done online, doesn't matter where you are living. My SS benefit hits my U S Bank on the 1st of the month. Overseas, cash is King, You go to an ATM withdraw Dollars or the Script of whatever Country your in. Why would you need to open a bank account in a Foreign Country. And P.S. moving to another Country does not mean your surrendering your Citizenship.
Which us bank ? This bank has a branch in Europe? Thank you
You still have to file and pay income tax. Right?
@@faramarzmokri9136There are some US banks that waive ATM fees and reimburse other bank’s ATM fees. I use my Schwab debit card at overseas ATMs. As of today never had a problem. Betterment also has the same deal.
some countries require you to have a bank account in their country if you want to apply for permanent residence.
@ you mean require residence to open a bank account?
Excellent quick general overview !!!
Did we miss anything?
I’ve worked for the last 50 years continuously, and it has been stressful at times. But looking up to retire in the next 4 months, has add even more stress. It shouldn’t be this complicated. I’m sure you ladies are try to help, but our system (US) is probably the most complicated in the world, and where politics play a big part. It’s no worder whey so many affluent people, decide to renounce US citizenship, and move abroad, because they want to keep as much as possible from their earned income. Kudos for the video and info.
My mother did. RIP Mom. The problem is that Money is taxed again in Canada because their pensions has to be reported to the government annually. So when the money transfers over to Canadian money they are Taxed along with their government pensions.
So the expats get taxes both places, US and Canada? I am thinking of moving to Canada when I retire.
That means the IRA, 401k withdraws also get taxed too?
A video I’m been waiting for thanks to both
We are so glad it was helpful!
I live overseas on my SS check. I have a wire transfer every month and haven't had any issues whatsoever. Further, I pay no taxes and the IRS doesn't require me to file a return because I am below the level required for paying taxes after filing out their own form showing my deductions both standard and filing jointly with spouse as to what amount of my SS taxed. I've always been below that level for the past 14 years.
@jackedup2007….do they deduct a wire transfer fee from your SS check? I am planning to live overseas too.
@@omoshiroit8153 No, my SS is a direct deposit to my US bank. My US bank then sends me the transfer through another bank (third-party transfer) and forwards it to me overseas. No fee in the US but my fee comes out here where I live which amounts to around 15 bucks.
The forieng bank takes out a transfer fee. The IRS does not. @@omoshiroit8153
@@omoshiroit8153 Best is to open an account with a bank that is in both countries, like Deutsche bank for Germany, BNP for France and so on. SS can be deposited in the US and you withdraw in your expat country. Changing from Dollar to Euro has a fee, but that's for all countries you will be in.
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
I can personally connect to that. I started working with Melissa Terri Swayne a fiduciary financial counselor, and my profits were assured. In such circumstances, I would always advise hiring a professional to help you through choppy markets and only give you indicators and strategies for figuring out when to enter and exit the market.
Please explain to me how you think I possess such abilities. I need to find a more profitable investing method to use my money because inflation is destroying it.
You can look up the financial advisor using her complete name on your computer; I hire her since she looks after the portfolios of renowned investors.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me.
Thanks for the invaluable advice ladies!
If you can, apply for SS before moving abroad. It took me over 6 months to finally get approved because I applied immediately before moving. They transferred my file overseas. If you can use a US address without affecting your tax status, give that to SS. That will avoid the “drop dead letter” they send to expats. If you lived in California, you must get rid of all connections to the state or they will get state taxed. Even voting overseas can trigger them to charge you all years you didn’t file with Cali. They took $15k from my account and gave me a bill for their balance. My tax man fixed it for me.
My wife and I have been considering moving from the US to Germany when I retire and begin receiving social security. But two things we are concerned about. Because she is a German citizen (she has read) that after a year of us living in Germany she is not eligible to continue receiving her portion (half of mine) of social security. The other part of our concern is that we cannot receive any Medicare living in Germany. Private heath insurance would be sky high in Germany for an old retired couple.
It seems very wrong for the United States to tax citizens living and earning abroad.
It’s like strong-armed robbery because it’s under threat of extradition, or paying fiefdom to a king. Neither one is morally defensible.
What are those taxes paying for, if you are living and working abroad?
We 100% agree with you! But here we are 🙃
Quick answer is yes. My grandmother received hers while living with us ex-US 5 decades ago.
No need to return every six months?
@ She never did return to the US once she moved in with us. She was a US citizen, so no need for her to return every 6 months. The 6-month requirement applies only to green card holders, afaik.
As a 61 year-old american living in Austria this was pure gold. I look forward to watching ALL your videos!!! One thing I learned today is that if you have sick leave and are paid for it by your austrian employer, you might get a letter from the Finanzamt saying that you owe taxes on it. Since in Austria you usually don't file unless you are claiming some deductions, it is easy to overlook this!!
Here’s the secret. As long as the benefits you receive from any “treaty” country are public, as in governmental, you will not be taxed by any jurisdiction. I receive social security befits from Spain, Portugal, and the US, and pay zero tax on any of it irrespective of where I live. Right now I’m in New York State, but two years ago I was in Palma Mallorca. No problem. But if you have private pension or annuity income it’s a different story, so be aware.
Excellent video, I have worked in the US and got my 40 credits, I have worked in France and Canada as well, as a French citizen I first retired in France and got all 3 countries to pay my benefits in France. Later I moved back to the US as a green card holder and still get my benefits from France, Canada and SSA, thanks to the treaties, and because they are all social security benefits I don't get taxed in Alabama 🙂
Wow!
My social security benefits have always been taxed because I also receive a pension that is also taxed. 😢
BS, both canada and US retirement benefits are taxed. Both sick countries.
@@jksouthern In the US, tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS.
@@jksouthern not in Alabama ;)
I will turn around and walk out if my financial advisor had those nails.
What is the problem... your SS goes into your bank account and you go to ATM overseas and withdraw money.
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Several cats and many guitars for me! And gardening for 35 an hour till I drop in gosh...Ikaria? Mexico hills? Sardenia?
But not Cali Newsia!!
I get social security disability...no taxes. Deposit directly to bank. Withdraw anywhere. No Worries.
You should speak to a professional about what your obligations are in your new country. Better safe than sorry.
If you're a US citizen, you can't legally collect "disability" abroad. Regular 62+ social security you can collect though
This is only true if you are collecting SSDI disability and paid into social security. If you are on SSI disability you can’t take that money out of the country. The government looks at it as a form of welfare because you did not put money into the system or pay into social security. They’re trying to cut that program anyway even if you stay in the United States. You will be cut off of SSI disability if you leave the country for more than 6 months at the current time.
I do too, but a friend of mine looked it up. With SSDI we can't move abroad and still collect those benefits.
Keep depositing in us bank, debit card your money out in other country and don’t tell them, get a mailbox in a ups store, “ it will be “ suite 123” not a P.O. Box, tell SS you moved to suite 123, have freind check your box every 2 weeks.
Just carry US bank ATM card and have FN bank account. I can withdraw money in other countries or just transfer money from US bank to my local bank account.
I'm 24 years retired in Philippines on social security and calipers. I heard you need 6 months and a day to move to foreign bank but not needed. I have my credit union and credit cards from USA and all work in Philippines. Rates are cheaper in USA than Philippines so don't give up your USA bank for your social security. E-file your taxes. Way easy.
…it could cost you $1500-2500 to renounce your US citizenship - so I think I might keep mine. I’m a US citizen, an Australian citizen, a South African citizen as well as an Overseas Indian citizen, so explored this a while ago - not easy planning life with three passports and an overseas citizenship! Hoping to retire to India and I hope the US and Australian dollars will hold reasonable value by the time I retire. Will certainly check out your websites. Cheers!
isn't more like $50,000????
Even James Bond has less passports than you
you do not have to file tax if you get under a certain amount yearly
Yes! There are filing thresholds that are updated annually.
I don't anticipate SS being cut. I think something will be figured out. I just hope it isn't turning it over to Wall St.
I'm 100 percent in US Stocks and will be rewarded handsomely, if SS is investing in the stock market like HSA accounts
Privatizing Social Security could actually be a good thing. Here’s why- as it currently stands, if you contribute for 40 years and then die before reaching retirement, your family/heirs receive nothing. With privatization, beneficiaries could be designated and your account passed to your heirs.
also, people might not take SS at age 62 and take it at 67 or 70 because they don't want to die at age 62 and get 0 bucks. People like me don't have to worry about dying early and spending my 401k down and only getting like 2 years of SS money, if I delay to age 70 and die at age 72, if invested like HSA account, that SS money invested would go to the heirs
my dad paid into SS for 35 years, retired at 55 and died before ever collecting a dime.
They’re already addressing the problem. Taxable SS income went up by 4.4% to 176,100.00 in 2025. Up from 168,600 in 2024. While COLA’s went up just 2.5% for 2025. Look for this trend to continue.
If I recall right, you mentioned if the income is ONLY from SS, you dont need to file or pay taxes. I beg to differ. If your SS exceeds a certain amount threshold, a certain portion of your SS payment WILL BE TAXABLE.
Only if you make more than a. Retain amount ABOVE the SS benefits
As a 66 year-old Austrian citizen living in America after having worked in Austria for 13 years, I have applied for my retirement benefits at 65, with the agreement between the two governments the work years in America should be considered. I got a letter from PVA asking me to submit my earnings certified. Which I did by email, It has taken a veil, and I haven’t heard from them. Any advice that you could give on this matter will be very much appreciated.
VA disability benefits do not have to be reported to the IRS.
I don’t qualify to file SS yet because I’m not 62 years old but next year I’m moving to another country. Once I turn 62, can I file for Social Security from another country?
Am I the only one waking up in a cold sweat...now that I'm about to retire and the GOP is in ultimate power and may poo poo SS? As I've been planning to retire abroad, my concern is that I'll end up financially stranded in a foreign country without the life preserving Social Security funds that I paid into since I was 13. Any consoling appreciated and instant subscriber to both Vanessa and Nathalies UA-cam channels. Thanks for the help and look forward to more awareness training.
Don’t sweat it and save your anxiety for other problems. Social Security will be fine under Trump, as it would have been under Harris as well frankly. The only thing you may see happening with SS in the next four years would be an increase in the FICA payroll tax income limits, which most people agree are set too low, and which would give a significant boost to the SS Trust Fund. Trump did promise to rescind the tax on SS earnings when you claim benefits prior to FRA and have other income, and if that happens it will be good news for retirees under 67 which is currently the typical FRA. So rest easy, it’s actually good news all around.
Yes you are the only one waking up in a cold sweat.
You're not alone. I'm very concerned as well. Very uncertain times 😢
Don’t blame GOP. Both parties and even Bernie Sanders have raided the SS lock box.
Looking to expat next year. My worries are the incoming admin will use foreign residency as a cudgel to fire up the base (‘they’re not "real" Americans if they don’t live in the US and they’re stealing your retirement). At the least COLA could disappear (not sure if it even exists for expats currently). SS will hit a wall in the next few years and I doubt Elon would be willing to see FICA tax ceiling raised. I expect a big push to privatize it once they’re done with Medicare.
My question is, if you pay no taxes and owe no taxes, what EXACTLY happens if you don’t file 🤨
If you don't file after 3 years the IRS will file for you with whatever info they have
The IRS may still come after you as you have an obligation to file, if you meet the filing thresholds (dependent on your filing status).
Quick answer: YES. There's a whole group of retired military vets in the Philippines who receive SSA benefits, VA stipends and their military pensions via direct deposit.
Could you give us a list of 10 Europe countries that have payer base tax system for Us retirees? Thank you
The Chip and Dale routine made things confusing though. 😮
Beautiful ladies thank you for your advice ❤
Hello everyone,
I am a new subscriber from the San Francisco Bay Area. This question is specifically for Natalie. I am a U.S. citizen and retired three years ago. I am planning to move to Southeast Asia, specifically either Thailand or the Philippines, because the cost of living is lower there than in the U.S.
I am concerned about how I will file my U.S. taxes while living abroad. My only income comes from Social Security in the U.S. I would appreciate it if Natalie could assist me with my tax filing when the time comes, as I need to complete it before the April 15 deadline.
Currently, I am still in the U.S. because I need to sell my home, but I am preparing for my departure once my condo is sold. Unfortunately, the real estate market is sluggish due to high mortgage interest rates, and not many homebuyers are currently applying for loans.
How will I be able to pay you for your tax service since you live in Austria and I will be in a Southeast Asian country?
Thank you!
You can always file online.
Tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS.
You can live in another country if u are collecting disability SSI, u can live abroad using disability if it is SSDI, very simple
So just for clarification, as a US citizen, you basically ignore 99% of a tax treaty. But is this still true if you are a dual citizen, working in another country (such as Austria) where you are ALSO a citizen?
Most people do not have to pay taxes on Social Security because they get so little, however you have to pay taxes on Social Security if it is over a certain amount!
This is 100%. My families receiving SSR never filed taxes since the income they are receiving is not enough to report.
YES
To the best of my understanding everyone getting social security retirement must have worked and paid into the SS trust fund for the equivalent of 10 years. if you move out of the country After you Qualify for your benefits it's not a problem.
Non citizens are taxed a 30% flat tax on SS benefits
Beer on the beach sounds good if you have a good health. But, at retirement age, you are likely to have health conditions that prevent you from drinking frequently. Drinking is bad for many conditions, liver, heart or even heartburn, you name it. Your priority changes as you age. You want to remain healthy and pain free and do whatever it takes to remain so. If you can retire at 45, you probably get another 10-15 years to enjoy your vices like drinking or smoking without immediate consequences.
Hi, I have a question: I plan to retire in Peru or Colombia. I plan to live with my Social Security + My Motorola Pension Plan only. In the USA I do not paid taxes. In Peru or Colombia do I have to pay Peruvian or Colombian Taxes???. I will like some help on this subject.
Thanks Juan
I retired and moved to Peru in 2019. I am not required to pay taxes on my social security or pension benefits.
@@JamesBurns-bz2hs Thank You for your answer. Questions: Have you become Peruvian Citizen? Do you know others in your same situation?
You don't have to wait to retire and not use brain cells, and can drink margaritas all the time. Just marry me.
I live in the Philippines for the past several years but Medicare is deducted monthly on which its not honored. Is there a way this Medicare deduction can be waived?
Are you talking about medicare deductions from your retirement pension?
What about if you get SS and a pension do I still pay taxes while abroad??
Planning to leave US soon. I can't find response to a simple question , as expat will I have SSB COLA adjustment every year?
Great video please use more written sentences
More subtitles?
I have a question:
If I had been working in the USA for a long time with a work permit , I would have the right to retire. Can I go back to my country and my ss check can deposit in my country bank?
I am 56 and looking to retire at 57. I will get a pension from my job, VA disability and some form of a bridge of SS I believe + 401k earnings(in which i want to close it and take a lump sum minus taxes owed to close it out). Then we want to retire to the dominican republic and get dual citizenship on just my income and no more working. Will I have to file taxes on this type of income yearly?
Do you need to report military disability pay while recieving SS living abroad like the Phillipines as supplemental income.
You can also dump US citizenship or permanent residency, but you will have to pay so called "exit tax" before doing that.
My son went to work in Japan since graduating from college 9 years ago. He has never worked in the US. He does file his income taxes to the IRS every year. When he reaches retirement age is he able to collect social security from the US?
I’m a 77 year old, almost 78, tomorrow. Social Security paid me without problems for over 10 years, until January which was the last payment I received, I was told a form was now required, done, no, now another form is required, done, and I’m still waiting for reinstatement. Is this political? Because I ask questions the government doesn’t want?
Great job, lady on the left!
Your presentation is a little bit childish. Can you bring it down to a more professional level? The info is important & I appreciate it but please do better.
Inheritances received in other country?
This is a great idea for another video!
Social Security has nothing to do with U.S. citizenship or residency. If you have worked for at least 10 years and earned 40 points, you can receive Social Security payments even if you have never had U.S. citizenship or residency and live in another country.
Everybody pays income tax on SS unless you only get a very small amount on your SS.
I have question, can we apply social security retirement while we still getting permanent disability insurance?
My question is if someone got citizenship by sponsorship, never worked in US and are collecting SSI for a couple and they live abroad……is it legal?
It should be he same as disability etc. My brother lives in Germany and he collects his military retirement pension and his disability.
If someone has no income and get ssi benefits like living expenses can they move to another country and still get those benefits or income?
I am a retired U.S. Citizen, living abroad in Colombia, S.A., on a RAILROAD RETIREMENT PENSIÓN. When you refer to Social Security, would that be considered in the same category for U.S. Tax purposes?
SS benefits are non taxable?? Under what circumstances? I know the is a "taxability" income level threshold for either 50% or 85%
Tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS
@asterixky it depends on what state you live in. For instance, Montana taxes SS
What if I stay 6 months in Germany and six months in USA.
I meant will they collect taxes.
I’m in Japan and some of the info. you provided does not hold true for me.
Hi ladies, I was told by the SSA that if I go abroad I can only get my money deposited to an international bank and not a foreign bank like you said. Which side am I supposed to believe?
There are many foreign banks that have branches in the US and in your country of expatriation. If you are in France, use BNP. If you are in Germany, use Deutsch bank, and so on.
@4:11 social security is taxed (upto 85% of it) in USA irrespective of filling status
@@JoeC5050 Social Security is not taxed bec. it is considered poverty level in the U.S. IF that’s the only income you have. It’s taxed if you have another pension source (there’s a threshold) so check with your tax preparer bec. if soc. sec. in not taxed in the U.S. it may be taxed in Europe (like in Portugal) but it will not be taxed twice (no dual taxation).
@@Virginia-mq4kw social security beyond standard deduction is taxed.
Saying SSI not taxed is not right.
@@JoeC5050
SSI isn't tax because the annual amount is less than the $25,000 SS exemption!
@@theratrace999 who can live with 25K per year during retirement?. Ofcourse very less people.
@JoeC5050
My point exactly! That is why I stated that most people don't have to pay taxes on Social Security unless it is above a certain limit!
there is a cap on social security income before it will be report or file an income tax to the irs, in united states or livi g abroad.
What if I am only a green card holder can I retire outside the US with my SS ?
Am I a US citizen: No.
Do I have Social Security: No.
Am I watching this video with full attention: Heck Yeah.
Hi councilor..I'm 68 one year ago I been receiving my SSI also I'm still wrking 24000 on my job is this a good choice ? How long can I wrk an receive .my ssi??
If SSI is more that a threshold you may pay tax on it ! I think for a single the limit is $25000 !!
Tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS
@@asterixky Most states tax SS if it is beyond a thresh-hold - the threshold vary from state to state! 7 or 11 states do not tax SS whatsoever!
@@Virtues162 Every state is different. Choose wisely before retiring.
Im undocunented for 10 yrs. and using other person ssn intity.Idid voluntarily departure And my question? Can i get a refund my ssn contribtuion even my federal while no turning back to united states. PLS. REPLY .TNXS
If you were deducted SSS & medicare contribution during your work time it is possible that your contribution is credited to the owner of the SS number that you used. Then there’s no way you can be refunded.
whenever you do a video , add a point about India also
If you denounce your us citizenship, can you still collect your social security? If you can collect, do you have to pay us taxes if you are not a us citizen anymore?
What if direct deposited to the US bank and pay daily expenses and everything abroad with CC and pay it off online? No foreign bank. do we need one?
This could work! It depends on whether your new country allows you to pay everything with a CC. Germany does not 😭
@@wanderonwards There is always WISE Apps
You are entitled to receive your SS monthly pension benefit , if you are abroad since this is your money , you contributed it for your retirement..
Why did social securities decrease by pension income even counterbuted after retirement?
Can a naturalice citizen get ssa benefit abroad?
No such thing about reporting to the IRS? Are you saying when you file an income tax...of course' automatic you needs to files?
US citizens and even non-citizens can collect social security while living aboard. For expats, they need to continue to file federal income taxes annually
I get confused who she is looking at?
Best to renounce u.d citizenship to not bother with filing taxes to them.. you're not living in USA where should they be bothering you in retirement?
What about retired and living in Italy?
When you talk about SS benefits, are you referring to SSI and SSDI?
If I retire and move back to my fatherland I would prefer to receive my social sec benefits in USD in an American Bank. All my American CC work fine abroad.
It's also very easy to get cash from any ATM there.
To start before moving to Europe ( France) I want to open an account on my next trip to Germany , Austria and France as a tourist . The question is which if these countries would allow an American tourist to open an account? Thank you
From my experience, almost none of them. Your best bet is a card like Revolut or N26. THey work in the EU and have zero to low transfer fees.
I know for a fact that you can.
I could live like a king in Belize.
Social security and a 27-year pension, I can go anywhere I can afford.
Big question now is ...... if Trump and republicans do away with SS what would a person do stuck in a foreign county with no financial support???
There are aome stuff these said thats wrong..... regarding taxes and sss..
If your retirement is at the poverty level you don`t make enough money to be taxed, that is the typical ss recipient
enlighten me on 'Foreign tax credit'