More Americans are retiring overseas than you think—driven by lower costs and dream destinations like Mexico or Europe. But it’s not all sunshine and beaches: Medicare doesn’t follow you abroad, so private health insurance becomes essential. Visa rules vary wildly by country, often demanding proof of income or cash reserves—and they can change overnight. Financial complexities pile on too: foreign bank accounts require reporting, U.S. banks may close accounts for expats, and some international banks won’t even open them. Plus, many U.S. investment firms won’t manage IRAs or 401(k)s for foreigners. Retiring abroad? It’s a thrilling dream with serious logistical and financial hurdles.
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