Social Security Rules Associated With Living and Working Abroad
Hundreds of thousands of Social Security participants–contributors and beneficiaries–fall into the category of “ex-patriots” or, in the vernacular, Expats, so it’s not that unique an occurrence. So, if an offshore relocation is in your plan, know that although you aren’t alone, there are some defined rules you’ll need to be aware of before you take this step. For example, you’ll need to know if the U.S. Treasury permits payments to the country you’re choosing, and you’ll need to be clear on the taxation rules in effect in your destination country. It can be complicated, so it’s advisable to be clear on all of these rules well in advance. A post by The Motley Fool’s Marc Rapport offered on their website provides some perspective on this subject, and you can read it here. Also, if you have specific questions about your situation, know that the AMAC Foundation offers a free-to-the-public Advisory Service that can help guide you. Information on how to access this service can be found here.