Reina Becnel Lim and Other Retirees Find Economic Advantages in Moving Abroad
Reina Becnel Lim, a military veteran and former federal employee, recently moved to Mauritius to retire with her family. After being made redundant by the Department of Government Efficiency, which was created by the administration, Lim chose the island nation for its affordable rent and favorable tax treatment. Her move highlights a broader trend of Americans seeking lower costs of living and better healthcare options outside the United States. Forbes recently released a list of 96 recommended spots across 24 countries for retirees. The list includes locations like Vietnam, Albania, and France, where many retirees find property and medical care significantly cheaper than in the U.S. While the administration's policies have made it harder for some foreigners to visit the U.S., many retirees are opting to move abroad to escape high domestic costs. Experts suggest that while the U.S. taxes its citizens globally, many foreign countries offer tax credits and treaties to prevent double taxation. Renting is often recommended over buying to avoid potential land fraud and the flexibility of trying different countries before settling permanently.