Can US Citizens Collect Social Security If You Retire Abroad?

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Wander Onwards

Wander Onwards

Күн бұрын

Пікірлер: 361
@wanderonwards
@wanderonwards Ай бұрын
Thanks so much for watching! If you have any questions make sure to leave them below and I'll answer them there!
@Dreaminman11
@Dreaminman11 Ай бұрын
I collected unemployment for 3 years in Thailand doing this, called in my weekly report to a teleprompter every Friday. Priceless…🌞😂
@kv7633
@kv7633 7 күн бұрын
Do a video on disability social security benefits If they move out of country can they still get their benefits
@jerrycampbell-ut9yf
@jerrycampbell-ut9yf Ай бұрын
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!
@Peterl4290
@Peterl4290 Ай бұрын
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?
@larrypaul-cw9nk
@larrypaul-cw9nk Ай бұрын
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
@sabastinenoah
@sabastinenoah Ай бұрын
That's incredible. What did you invest in ? I'm really interested in this, because I'm in a similar position at the moment.
@larrypaul-cw9nk
@larrypaul-cw9nk Ай бұрын
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!!
@sabastinenoah
@sabastinenoah Ай бұрын
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.
@IAMDONE-k5v
@IAMDONE-k5v Ай бұрын
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
@amva55 Ай бұрын
No thank you
@maitruong7057
@maitruong7057 Ай бұрын
I would be careful over there since xiping and the ccp are scaming their way into Afraia.
@mickeysaini403
@mickeysaini403 22 күн бұрын
@@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.
@arvee9657
@arvee9657 16 күн бұрын
@@amva55😂
@tanjagonzalez1181
@tanjagonzalez1181 6 күн бұрын
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?
@nicolasbenson009
@nicolasbenson009 Ай бұрын
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…
@sharonwinson-m8g
@sharonwinson-m8g Ай бұрын
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.
@tatianastarcic
@tatianastarcic Ай бұрын
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
@Vincent-j8u
@Vincent-j8u Ай бұрын
Could you possibly recommend a CFA you've consulted with?
@tatianastarcic
@tatianastarcic Ай бұрын
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.
@TinaJames222
@TinaJames222 Ай бұрын
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.
@FunnyAnimals-1957
@FunnyAnimals-1957 Ай бұрын
you do not have to file tax if you get under a certain amount yearly
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
Yes! There are filing thresholds that are updated annually.
@williamessig2610
@williamessig2610 Ай бұрын
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.
@faramarzmokri9136
@faramarzmokri9136 Ай бұрын
Which us bank ? This bank has a branch in Europe? Thank you
@HHH-nv9xb
@HHH-nv9xb Ай бұрын
You still have to file and pay income tax. Right?
@zacharyferreira2469
@zacharyferreira2469 Ай бұрын
@@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.
@emptychallice
@emptychallice Ай бұрын
some countries require you to have a bank account in their country if you want to apply for permanent residence.
@zacharyferreira2469
@zacharyferreira2469 Ай бұрын
@ you mean require residence to open a bank account?
@JediBua
@JediBua Ай бұрын
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.
@annem.parent8580
@annem.parent8580 Ай бұрын
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.
@san209nha9
@san209nha9 Ай бұрын
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?
@jackedup2007
@jackedup2007 Ай бұрын
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
@omoshiroit8153 Ай бұрын
@jackedup2007….do they deduct a wire transfer fee from your SS check? I am planning to live overseas too.
@jackedup2007
@jackedup2007 Ай бұрын
@@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.
@johnfoose4883
@johnfoose4883 Ай бұрын
The forieng bank takes out a transfer fee. The IRS does not. ​@@omoshiroit8153
@asterixky
@asterixky Ай бұрын
@@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.
@brookside109
@brookside109 Ай бұрын
What is the problem... your SS goes into your bank account and you go to ATM overseas and withdraw money.
@ericl2152
@ericl2152 Ай бұрын
VA disability benefits do not have to be reported to the IRS.
@jbgearhead
@jbgearhead Ай бұрын
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.
@Muller_Andr
@Muller_Andr Ай бұрын
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.
@AadhilaEesha
@AadhilaEesha Ай бұрын
I'm 100 percent in US Stocks and will be rewarded handsomely, if SS is investing in the stock market like HSA accounts
@FranciszekPawal
@FranciszekPawal Ай бұрын
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.
@AadhilaEesha
@AadhilaEesha Ай бұрын
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
@FranciszekPawal
@FranciszekPawal Ай бұрын
my dad paid into SS for 35 years, retired at 55 and died before ever collecting a dime.
@simone_maya
@simone_maya Ай бұрын
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.
@KaliBahayKubo
@KaliBahayKubo Ай бұрын
I get social security disability...no taxes. Deposit directly to bank. Withdraw anywhere. No Worries.
@wanderonwards
@wanderonwards Ай бұрын
You should speak to a professional about what your obligations are in your new country. Better safe than sorry.
@AKAAAK
@AKAAAK Ай бұрын
If you're a US citizen, you can't legally collect "disability" abroad. Regular 62+ social security you can collect though
@Starbeoghtuser3475
@Starbeoghtuser3475 Ай бұрын
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.
@pattyolson3842
@pattyolson3842 Ай бұрын
I do too, but a friend of mine looked it up. With SSDI we can't move abroad and still collect those benefits.
@Dreaminman11
@Dreaminman11 Ай бұрын
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.
@nalindaweerasekera3832
@nalindaweerasekera3832 20 күн бұрын
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.
@faramarzmokri9136
@faramarzmokri9136 Ай бұрын
Could you give us a list of 10 Europe countries that have payer base tax system for Us retirees? Thank you
@yingchen7141
@yingchen7141 24 күн бұрын
I will turn around and walk out if my financial advisor had those nails.
@mochapoundcake
@mochapoundcake Ай бұрын
Quick answer is yes. My grandmother received hers while living with us ex-US 5 decades ago.
@natureloversadventures7335
@natureloversadventures7335 5 күн бұрын
No need to return every six months?
@mochapoundcake
@mochapoundcake 5 күн бұрын
@ 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.
@garyssimo
@garyssimo Ай бұрын
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!!
@AnonVideos
@AnonVideos Ай бұрын
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?
@wanderonwards
@wanderonwards Ай бұрын
We 100% agree with you! But here we are 🙃
@jamesmarchetti3286
@jamesmarchetti3286 Ай бұрын
Excellent quick general overview !!!
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
Did we miss anything?
@Nobodyxxx651
@Nobodyxxx651 Ай бұрын
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?
@IamJonny-o4v
@IamJonny-o4v Ай бұрын
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
@winifred-k9e
@winifred-k9e Ай бұрын
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?
@MattsMkia
@MattsMkia Ай бұрын
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.
@JacobsErick-u8r
@JacobsErick-u8r Ай бұрын
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.
@MattsMkia
@MattsMkia Ай бұрын
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.
@LUCIASMITH-d1z
@LUCIASMITH-d1z Ай бұрын
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.
@AdventuraHighway31
@AdventuraHighway31 Ай бұрын
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 🙂
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
Wow!
@kathleenphillips7145
@kathleenphillips7145 Ай бұрын
My social security benefits have always been taxed because I also receive a pension that is also taxed. 😢
@jksouthern
@jksouthern Ай бұрын
BS, both canada and US retirement benefits are taxed. Both sick countries.
@asterixky
@asterixky Ай бұрын
@@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.
@AdventuraHighway31
@AdventuraHighway31 Ай бұрын
@@jksouthern not in Alabama ;)
@cookmaster3626
@cookmaster3626 Ай бұрын
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.
@adofoi30
@adofoi30 Ай бұрын
Only if you make more than a. Retain amount ABOVE the SS benefits
@javacup912
@javacup912 25 күн бұрын
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.
@macywacy7384
@macywacy7384 Ай бұрын
Thanks for the invaluable advice ladies!
@melod2nd
@melod2nd Ай бұрын
Do you need to report military disability pay while recieving SS living abroad like the Phillipines as supplemental income.
@realsteel8113
@realsteel8113 Ай бұрын
My question is, if you pay no taxes and owe no taxes, what EXACTLY happens if you don’t file 🤨
@pineda4333
@pineda4333 Ай бұрын
If you don't file after 3 years the IRS will file for you with whatever info they have
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
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).
@philam1973
@philam1973 Ай бұрын
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.
@sonnygalang6873
@sonnygalang6873 Ай бұрын
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.
@alroberts193
@alroberts193 Ай бұрын
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!
@asterixky
@asterixky Ай бұрын
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.
@jah2601
@jah2601 Ай бұрын
Beautiful ladies thank you for your advice ❤
@PaulFromCHGO
@PaulFromCHGO Ай бұрын
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?
@msvideotime
@msvideotime Ай бұрын
A video I’m been waiting for thanks to both
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
We are so glad it was helpful!
@Blublod
@Blublod Ай бұрын
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.
@mailmanqcnc
@mailmanqcnc 4 күн бұрын
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?
@CharlotteNoah3
@CharlotteNoah3 Ай бұрын
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
@CharlesLiamh1p
@CharlesLiamh1p Ай бұрын
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
@DeborahMicheal6k
@DeborahMicheal6k Ай бұрын
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
@HenryLucask5l
@HenryLucask5l Ай бұрын
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
@DeborahMicheal6k
@DeborahMicheal6k Ай бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
@HenryLucask5l
@HenryLucask5l Ай бұрын
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
@DavidCR7-s6s
@DavidCR7-s6s Күн бұрын
What about if you get SS and a pension do I still pay taxes while abroad??
@fblau
@fblau Ай бұрын
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!!
@mrmikecebu
@mrmikecebu Ай бұрын
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.
@SuzanMiller-ou5kq
@SuzanMiller-ou5kq Ай бұрын
It should be he same as disability etc. My brother lives in Germany and he collects his military retirement pension and his disability.
@walterfortuna6821
@walterfortuna6821 Ай бұрын
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?
@deneson421
@deneson421 Ай бұрын
Are you talking about medicare deductions from your retirement pension?
@rudymasato2968
@rudymasato2968 26 күн бұрын
I have question, can we apply social security retirement while we still getting permanent disability insurance?
@baronbattles4681
@baronbattles4681 9 күн бұрын
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?
@toscatattertail9813
@toscatattertail9813 Ай бұрын
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.
@altriplett9099
@altriplett9099 Ай бұрын
Non citizens are taxed a 30% flat tax on SS benefits
@JurnyAlone
@JurnyAlone Ай бұрын
The Chip and Dale routine made things confusing though. 😮
@juanvaldivia1173
@juanvaldivia1173 Ай бұрын
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
@JamesBurns-bz2hs
@JamesBurns-bz2hs Ай бұрын
I retired and moved to Peru in 2019. I am not required to pay taxes on my social security or pension benefits.
@juanvaldivia1173
@juanvaldivia1173 Ай бұрын
@@JamesBurns-bz2hs Thank You for your answer. Questions: Have you become Peruvian Citizen? Do you know others in your same situation?
@dsrrellgriffith1161
@dsrrellgriffith1161 Ай бұрын
You can live in another country if u are collecting disability SSI, u can live abroad using disability if it is SSDI, very simple
@dumdumbrown4225
@dumdumbrown4225 Ай бұрын
…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!
@DakarBlues
@DakarBlues Ай бұрын
isn't more like $50,000????
@asterixky
@asterixky Ай бұрын
Even James Bond has less passports than you
@jeremyglasser-hyman2846
@jeremyglasser-hyman2846 2 күн бұрын
I’m in Japan and some of the info. you provided does not hold true for me.
@shahlababri3761
@shahlababri3761 Ай бұрын
Why did social securities decrease by pension income even counterbuted after retirement?
@paulmarshall7328
@paulmarshall7328 Ай бұрын
What if I stay 6 months in Germany and six months in USA. I meant will they collect taxes.
@NimbusBrain
@NimbusBrain 16 күн бұрын
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?
@airplanebuilder8685
@airplanebuilder8685 Ай бұрын
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.
@carlosvalencia5028
@carlosvalencia5028 Ай бұрын
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?
@rinkupeterson8689
@rinkupeterson8689 18 күн бұрын
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?
@goaliemojo4310
@goaliemojo4310 Ай бұрын
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 KZbin channels. Thanks for the help and look forward to more awareness training.
@Blublod
@Blublod Ай бұрын
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.
@BuzzMccabe-iu9ph
@BuzzMccabe-iu9ph Ай бұрын
Yes you are the only one waking up in a cold sweat.
@lovelydaye6640
@lovelydaye6640 Ай бұрын
You're not alone. I'm very concerned as well. Very uncertain times 😢
@michaelperry1210
@michaelperry1210 Ай бұрын
Don’t blame GOP. Both parties and even Bernie Sanders have raided the SS lock box.
@curiousthecat
@curiousthecat Ай бұрын
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.
@shaziaijaz5863
@shaziaijaz5863 26 күн бұрын
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?
@JoeC5050
@JoeC5050 Ай бұрын
@4:11 social security is taxed (upto 85% of it) in USA irrespective of filling status
@Virginia-mq4kw
@Virginia-mq4kw Ай бұрын
@@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).
@JoeC5050
@JoeC5050 Ай бұрын
@@Virginia-mq4kw social security beyond standard deduction is taxed. Saying SSI not taxed is not right.
@theratrace999
@theratrace999 Ай бұрын
​@@JoeC5050 SSI isn't tax because the annual amount is less than the $25,000 SS exemption!
@JoeC5050
@JoeC5050 Ай бұрын
@@theratrace999 who can live with 25K per year during retirement?. Ofcourse very less people.
@theratrace999
@theratrace999 Ай бұрын
@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!
@pawelzielinski1398
@pawelzielinski1398 Ай бұрын
You can also dump US citizenship or permanent residency, but you will have to pay so called "exit tax" before doing that.
@RandzWRX
@RandzWRX Ай бұрын
There are aome stuff these said thats wrong..... regarding taxes and sss..
@michaelmoi2074
@michaelmoi2074 Ай бұрын
SS benefits are non taxable?? Under what circumstances? I know the is a "taxability" income level threshold for either 50% or 85%
@asterixky
@asterixky Ай бұрын
Tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS
@susanrodgers3784
@susanrodgers3784 21 күн бұрын
​@asterixky it depends on what state you live in. For instance, Montana taxes SS
@MariaVazquez-uz3iy
@MariaVazquez-uz3iy Ай бұрын
Inheritances received in other country?
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
This is a great idea for another video!
@theratrace999
@theratrace999 Ай бұрын
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!
@nonieleonardo4035
@nonieleonardo4035 Ай бұрын
This is 100%. My families receiving SSR never filed taxes since the income they are receiving is not enough to report.
@AlphonsoParra
@AlphonsoParra Ай бұрын
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?
@robertgallacher9288
@robertgallacher9288 19 күн бұрын
What if I am only a green card holder can I retire outside the US with my SS ?
@Virtues162
@Virtues162 Ай бұрын
If SSI is more that a threshold you may pay tax on it ! I think for a single the limit is $25000 !!
@asterixky
@asterixky Ай бұрын
Tax on SS is almost non existent. People pay taxes on SS when they have other sources of income added to SS
@Virtues162
@Virtues162 Ай бұрын
​@@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!
@asterixky
@asterixky Ай бұрын
@@Virtues162 Every state is different. Choose wisely before retiring.
@vica-f8c
@vica-f8c Ай бұрын
No such thing about reporting to the IRS? Are you saying when you file an income tax...of course' automatic you needs to files?
@diversity7777
@diversity7777 Ай бұрын
What about retired and living in Italy?
@mahmudmert9473
@mahmudmert9473 11 күн бұрын
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.
@IEW-dg4di
@IEW-dg4di Ай бұрын
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.
@pawelzielinski1398
@pawelzielinski1398 Ай бұрын
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.
@wpn-k8d
@wpn-k8d 19 күн бұрын
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.
@MountainGoat67
@MountainGoat67 Ай бұрын
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?
@wanderonwards
@wanderonwards Ай бұрын
This could work! It depends on whether your new country allows you to pay everything with a CC. Germany does not 😭
@MountainGoat67
@MountainGoat67 Ай бұрын
@@wanderonwards There is always WISE Apps
@tanweerahmed55
@tanweerahmed55 Ай бұрын
Great video please use more written sentences
@MyExpatTaxes
@MyExpatTaxes Ай бұрын
More subtitles?
@hectorhurtado1126
@hectorhurtado1126 Ай бұрын
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?
@asterixky
@asterixky Ай бұрын
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.
@romulosumalnap-mw9vx
@romulosumalnap-mw9vx Ай бұрын
When you talk about SS benefits, are you referring to SSI and SSDI?
@PedroArgumedo-b3x
@PedroArgumedo-b3x Ай бұрын
Can a naturalice citizen get ssa benefit abroad?
@randomvids6788
@randomvids6788 Ай бұрын
What about non citizens, are they able to withdraw if they live abroad?
@jonam7589
@jonam7589 Ай бұрын
I get confused who she is looking at?
@ay5667
@ay5667 18 күн бұрын
YES
@RoyFrancisMilano
@RoyFrancisMilano Ай бұрын
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?
@oliviasamueljohn4177
@oliviasamueljohn4177 Ай бұрын
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??
@ningcaytube
@ningcaytube Ай бұрын
enlighten me on 'Foreign tax credit'
@GREAT_VOICE-b4m
@GREAT_VOICE-b4m Ай бұрын
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
@deneson421
@deneson421 Ай бұрын
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.
@faramarzmokri9136
@faramarzmokri9136 Ай бұрын
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
@fblau
@fblau Ай бұрын
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.
@SRQRay
@SRQRay 22 күн бұрын
Great job, lady on the left!
@LarryRichelli
@LarryRichelli 21 күн бұрын
Everybody pays income tax on SS unless you only get a very small amount on your SS.
@faramarzmokri9136
@faramarzmokri9136 Ай бұрын
Is France a payer base tax system or resource base like Germany?
@marcelogobello9757
@marcelogobello9757 21 күн бұрын
Start working to begin with !. Do you two put already 10 years or more yet ?
@ericzap5814
@ericzap5814 28 күн бұрын
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..
@svlonestar7645
@svlonestar7645 Ай бұрын
Social security and a 27-year pension, I can go anywhere I can afford.
@isakkidurai4452
@isakkidurai4452 17 күн бұрын
whenever you do a video , add a point about India also
@nancyhorton6814
@nancyhorton6814 Ай бұрын
Can #45 stop my Social Security if I live in Canada?
@angelayan8712
@angelayan8712 Ай бұрын
I am so confused. 😮
@roiselmartinez6368
@roiselmartinez6368 Ай бұрын
I just found your video, who is the girl in blue shirt?
@jksouthern
@jksouthern Ай бұрын
She is useless.
@A735h
@A735h Ай бұрын
I could live like a king in Belize.
@edwinavillorente5882
@edwinavillorente5882 Ай бұрын
I know for a fact that you can.
@smwk2017
@smwk2017 Ай бұрын
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
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