It’s a fair question. But their answers actually say nothing “lucrative” and Spain agressively enforces taxes on poker players to the point that Spaniards frequently won’t play tournaments at least at home, and I believe the regulation of their poker sites is such that they get reports on every player’s results.
I’m just going to fill out the app and see what happens. Let fate decide and then I’ll have to figure out how many laws I’m willing to break later.
I get that you will have to pay taxes. But it seems by that logic, you can’t buy a lottery ticket (or at least claim a winning one because it would be “lucrative”).
Does it say anything about investment income? I assume that’s OK. Then again, if you’re trading, would that be “lucrative”?
For me Europe just isn’t that appealing because it’s as expensive as the US. My burn rate here just living and not doing much is like 4x what it was driving through Mexico and Central America. It costs me 4x more just to live in LA with a job than it did to travel on a 6-month vacation (not counting what I’m bringing in). That’s crazy.
Retirement plans get a lot more appealing and can be moved up a lot sooner if you drop your expenses by 75%. There are retired Americans people living in places like Mexico and Honduras just purely on social security. It’s not a luxurious life but at least I know it’s possible if I somehow burn through the whole nest egg and am still alive.
Nah, the taxes is totally fair. I didn’t make this clear, but what I meant by including that is not about avoiding taxes, just about getting doing something lucrative. Their record keeping on this matter is good so they’d be tough to hide playing poker from.
I suppose to avoid detection I’d have to avoid taxes yes, but I’m not opposed to taxes. I am coerced into being opposed to not making any $.
You are allowed to continue making passive income.
What does actually happen to expats who become incapacitated in a country where they don’t have legal status? Surely it happens often enough that we don’t need to guess.
Let’s say Fred retired to Thailand with few assets and just Social Security for income. No spouse, children or siblings. Things were great for 10 years and it was the best decision he ever made. Then he has a stroke rendering him paralyzed on one side of his body and non-verbal. What happens to Fred?
He flies back to the US? Takes a cyanide pill?
I mean if I’m Fred in that spot I’m not loving life no matter where I am. It’s not like he’s going dammit - if only I was in the US I’d be fine. Such a big mistake to move to Thailand.
The funny thing is they might actually have convalescent homes that are better than what Medicare pays for in the US for all we know. I saw the place my uncle was in. I’d rather take my chances on what Thailand has to offer. Maybe there are places where you basically sign over your SS check and they take care of you for the rest of your life. It’s probably awful, but maybe not.
What if the stroke also renders him mentally incapacitated?
I mean there are likely clear cut legal answers to these questions for most countries. I’m wondering what they are.
I’m 57 years old and live alone, with my only family being two grown daughters in DC and the Bronx. I plan to retire at age 60 (assuming the market isn’t 40% below where it is now) and move to the DC area so I can be close to her and a closer trip to see her sister than I now have.
While I miss both of my kids, I also don’t want to be alone as I get older if I start having major health issues. It would suck to be relying on acquaintances and neighbors for basic assistance if I have the option of being closer to family.
Then who cares?
It’s like what if villain has a bigger full house? You’re getting stacked. Don’t worry about it.
I’d care an awful lot. I’d want to know what was going to happen to me before it happened so I could maybe make plans. Mentally incapacitated from a stroke could mean another 10 years of being alive and fully aware of your surroundings.
I think we may have our oldest forum member!
Definitely good insight as I’m 51 and starting to think about all that stuff. In my case I only have my defacto sister and her kids - who I’m very close with but that’s it. I don’t want or expect them to do anything other than maybe show up on my deathbed.
So I really have no options like that which makes it a no-brainer for me to move around and enjoy my semi-retirement as soon as covid ends.
If Fred is really with it, well before this happens, he has at least one friend in Thailand that will get him back to the US and has set aside funds for that. He will also have a power of attorney arranged in USA#1 who will be in charge of his health decisions and estate and he will have had extensive discussions about what to do with that person (e.g. what type of facility to put him in).
Fred would have to have some money set aside for this. But I don’t think he would have to be “wealthy”.
It would require a lot of planning and a bit of money, but you could probably put together a plan that would involve you ending up in a long-term facility in the US until you’re broke and at that point you could get on medicaid for coverage (there are social workers whose job this is).
The exact scenario you point out is a fairly unlikely, so Fred could reasonably YOLO it about and just roll the dice on such a scenario. What you’re talking about is scenarios that are sudden, extremely incapacitating, but not so bad that they don’t kill you.
And that’s going to be better in the US if you don’t have kids to take care of you? I don’t share that faith. It’s going to be awful anywhere.
And from what I’ve seen of Mexico and Costa Rica - I’d actually expect it to be more compassionate than a Medicare facility in the US. Part of it might be a cultural thing. Latin Americans take care of older people a lot better than the US.
Huh? I’m pretty sure Hobbes and danspartan are older than I.
And don’t forget our math genius emeritus!
Oh yeah forgot about Hobbes. I thought Dan Spartan was 55.
Well your on the old Mt. Rushmore anyway. ;)
I am not in any way saying I have faith the US would be better. I am saying it is a question that has an answer, and I would like to know what that answer is.
Is it rude if we summon Dan to ask him?
There has to be at least one reg who is 60+
Hobbes may be the oldest. I think he’s in his mid-sixties.
Who is the youngest reg? Anyone in their 20s? Stimabuser? Jmakin?
