Money & Income
Quick answers on SSDI, Social Security, retirement visa thresholds, dollar economies, and budgeting for a fixed income abroad. Each answer links to the full research.
Can I collect SSDI while living abroad?
For most recipients, yes — SSDI follows you overseas as long as you remain a U.S. citizen or meet certain residency conditions. The key variables are your citizenship status, which country you're moving to, and whether that country has a Social Security totalization agreement with the U.S. A handful of countries are restricted entirely. Get clear on your specific benefit type before planning around it.
Read the full guide to SSDI abroad →Does Social Security pay if you live outside the US?
Most Social Security retirement and disability benefits continue if you live abroad — but not automatically for every country or every benefit type. Supplemental Security Income (SSI) stops when you leave the U.S. Retirement and SSDI generally continue. Country-specific restrictions apply to about 25 nations. Verify your specific benefit type and destination before assuming continuity.
Read the full guide to SSDI & Social Security abroad →Which countries use the US dollar?
Panama and Ecuador are the two most popular retirement destinations that use the U.S. dollar as their official currency — no exchange rate risk, no currency math, your fixed income is exactly what it is every month. El Salvador also uses the dollar. For fixed-income retirees, a dollar economy removes one of the biggest financial variables from the equation.
Read the full guide to dollar economies →Minimum income for a retirement visa
Requirements vary widely by country and change periodically. Panama's Pensionado requires around $1,000/month. Costa Rica's is similar. Ecuador's Jubilado requires roughly $1,446/month. European visas run higher — Portugal's D7 around €920/month, Spain's NLV around €2,400/month. Always verify current figures directly with the consulate — published numbers online are often outdated.
Compare visa income requirements across 18 countries →Is US Social Security taxed if you live abroad?
It depends on where you live and your total income. The U.S. may still tax your Social Security depending on your combined income, regardless of where you live. Some countries have tax treaties with the U.S. that affect how benefits are treated locally. Portugal previously offered favorable tax treatment for foreign income. A tax professional familiar with expat situations is essential here.
Read the full guide to fixed income reality check →Can an American open a foreign bank account?
Yes, but it requires planning. FATCA regulations mean many foreign banks are cautious about U.S. account holders due to reporting requirements. In practice, expat-friendly banks in popular retirement destinations do open accounts for Americans — often once you have residency. Some countries are easier than others. Having a local account is usually essential for paying rent, utilities, and daily expenses.
Read the full guide to hidden costs →Cheapest country to retire to with good healthcare
Colombia consistently tops this list — world-class private hospitals in Medellín, eternal spring climate, and costs that are genuinely low even by Latin American standards. Ecuador and Panama also offer strong value with dollar economies. In Europe, Portugal's interior towns offer good healthcare access at lower costs than the coast. The cheapest option with the best healthcare depends heavily on your specific health needs.
Compare 18 retirement destinations side by side →Hidden costs of retiring abroad
The costs expats most consistently underestimate: the move itself, international health insurance before residency kicks in, return flights home (plan for at least one or two per year), currency conversion fees, the gap between tourist prices and resident prices, and the time and legal fees involved in residency paperwork. Budget for the transition period separately from your ongoing monthly costs.
Read the full guide to hidden costs →