Retiring to Florida

[Robert5988]

A couple of posts – see below – in mrsbabypowder’s thread have raised again the issue of over 60’s retiring to Florida. Rather than take that thread off topic I thought I would start a new thread; it hasn’t been raised for quite a while I believe.

<blockquote id="quote" class="ffs">quote:Hi all,
Ref the over 60s Visa i have e-mailed countless times to Senator Crispin,Senator Bush ,Senator Mendize and have also sent one to George Bush so far i have received two replies,but i will keep on!! perhaps if everyone who wanted to retire to Florida got of their butts and did the same we could get somewhere.[/quote]

<blockquote id="quote" class="ffs">quote:You may know they tried to get a retirement bill through in the late 1990s, Sheena, though the guy who introduced it is no longer in Senate. It failed because it only got the support of the senators whose regions would benefit, Florida, New Mexico and Arizona eg and there are far more cold northern states that wouldnt really benefit. Anyway it never made it. I think if everyone who wants to retire to Florida emailed and you got someone to introduce it again based on support in Florida, the same thing would happen again. There is a lot of self interest in American politics! Unfortunately.[/quote]

I think the notion of over 60’s retiring to Florida is a pipe dream for most people.

It is surely absolutely fair that people wishing to make that move should be able give concrete assurances that they will never be a burden to Uncle Sam.

So how do you do that?

Affording day to day living – car/housing/food etc – will present no problem to some; especially if they can sell up in UK.

However what about medical cover?

For many in their 60s+ moving to for the first time to Florida medical insurance for permanent residence will be simply unobtainable. I have seen figures of $40,000 pa for a full policy for each person bandied about, and that excludes cover for existing conditions. No doubt these premiums will increase hugely as you get older and into your 70s and 80s.

Without insurance A lengthy stay in hospital for, say, cancer/cardiac/stroke can bankrupt millionaires.

So what sort of Capital and and/or Income do you feel you would need to satisfy Uncle Sam of your solvency?

Also what safeguards do you think that you should give Uncle Sam that you won’t blow your capital on wine, women, song or gambling(or give it to your children)?

Again, blow your money, or simply can’t/won’t pay/be refused medical insurance – what happens?

If you are really wealthy and can afford that sort of expenditure, you can, in practice, stay for as long as you wish each year in Florida as long as you keep a residence and ties to UK.

Personally, much as I love Florida, I can’t think why anyone would want to retire there.

[Robby]

Thats your choice, many would love too!!

[anorak]

Warm winters, plenty to do, english speaking, works for me.

medical though, thats another story altogether.

[floridadreamvilla.co.uk]

Totally agree, but there are plenty of people who would love to. Each to their own - the world would be a very boring place if we were all the same [msnsmile]
<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
Personally, much as I love Florida, I can’t think why anyone would want to retire there.
[/quote]

[Robert5988]

My last sentence was simply an aside, and a mistake as it will no doubt generate lots of 'I would love to' responses which wasn't the aim. Bit too late to delete it now I guess.

Totally accepting I am in a minority and lots "would love to", can they afford to? given the points I made above? Discuss!!!!

[Pookie]

In respect of medical insurance, there is always international insurance schemes, which is something we are looking into.
Will post my findings once I have the full info.

Lynne

[Katys Grandad]

What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.

[roger]

Most of these older employees are only working to get the medical insurance they get from the employer, with a very low wage.

<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.
[/quote]

[roger]

I like the UK and the USA. Personally I'd rather live in Florida now whilst younger and I have the money to live here comfortably, and then retire back to the UK if not back there already.

I would not want to be spending my life savings just paying for medical bills once I retire.

Having said that, if money is no object when I retire, or the US come up with a national health type system for the retired then I might change my mind.

[Mo Green]

<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.
[/quote]

They may not always be working to pay for insurance. When we were over there at Christmas the elderly packer insisted on taking my cart to the car - you an imagine my embarassement. Healthy looking lady with tiny bent up old man pushing a heavily laden trolley.

I asked if he minded me asking how old he was and he was 85! To my question of why did he still work he said he retired at 60, was fed up with watching repeats of movies and TV programmes and was saving up to buy a boat!

Maybe, where there is clearly no upper age limit for employees, some actually enjoy getting out and meeting people and earning some extra spending money.

[florida4sun]

Its not that they are working to pay for insurance, it is that they get insurance included with the job, this usually extends to partners for a small fee.


<blockquote id="quote" class="ffs">quote:Originally posted by Mo Green
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.
[/quote]

They may not always be working to pay for insurance. When we were over there at Christmas the elderly packer insisted on taking my cart to the car - you an imagine my embarassement. Healthy looking lady with tiny bent up old man pushing a heavily laden trolley.

I asked if he minded me asking how old he was and he was 85! To my question of why did he still work he said he retired at 60, was fed up with watching repeats of movies and TV programmes and was saving up to buy a boat!

Maybe, where there is clearly no upper age limit for employees, some actually enjoy getting out and meeting people and earning some extra spending money.
[/quote]

[florida4sun]

This sums it up, if we had the money to cover Alex's and Hannah's medical costs (or decent insurance) we would be there right now. In ideal world retirement wouold be summer in UK winter in florida or Italy.

<blockquote id="quote" class="ffs">quote:Originally posted by roger
I like the UK and the USA. Personally I'd rather live in Florida now whilst younger and I have the money to live here comfortably, and then retire back to the UK if not back there already.

I would not want to be spending my life savings just paying for medical bills once I retire.

Having said that, if money is no object when I retire, or the US come up with a national health type system for the retired then I might change my mind.


[/quote]

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by Mo Green
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.
[/quote]

They may not always be working to pay for insurance. When we were over there at Christmas the elderly packer insisted on taking my cart to the car - you an imagine my embarassement. Healthy looking lady with tiny bent up old man pushing a heavily laden trolley.

I asked if he minded me asking how old he was and he was 85! To my question of why did he still work he said he retired at 60, was fed up with watching repeats of movies and TV programmes and was saving up to buy a boat!

Maybe, where there is clearly no upper age limit for employees, some actually enjoy getting out and meeting people and earning some extra spending money.
[/quote]

I'm sure he was being honest Maureen but I had the very same experience (was it Publix?) and my cart man said he couldn't afford to pay the medical bills himself. I think there are a lot of good and proud elderly people in Florida who don't like to admit they're doing it for the money.

[chrizzy100]

A few work to get out the house..but a lot more don't...

I not sure FL would be the place I'd pick in the USA to retire too...a nice place for your 50/60..but not so sure in my 70s..a condo in FL and one up the coast for summer would be nice...maybe in the Mountains of New England.....

[esprit]

If you have lived in America for the requisite period and paid into the social security system, you are entitled to medicare at an old age, obviously as someone just retiring to Florida you would not be.

There is already a retirement visa, it is called the EB5 and leads to green card, just got to raise $500,000 to invest in a designated regional centre. With the increase in home values a lot of people are just doing that and can afford to. There is the alternative of E2. To be frank, living as I do at the moment in Gods waiting room of Portugal and being totally bored sick I think that making older people who want to live in the US run a business isnt necessarily a bad thing!!
Oh and for those who can afford to do so, snowbirding on B2 and six months in and six months out does hold many attractions as having the best of both worlds.

[Mo Green]

<blockquote id="quote" class="ffs">quote:Originally posted by Mo Green
[quote
They may not always be working to pay for insurance. [/quote]

Sorry worded that badly - should have been working for the insurance cover. I know they are covered by employers.

Retiring to Florida sounds wonderful - when one is fit and healthy. Alternatively, as was said earlier, snow-birding with B2 does sound very attractive.

[Robert5988]

<blockquote id="quote" class="ffs">quote:There is already a retirement visa, it is called the EB5 and leads to green card, just got to raise $500,000 to invest in a designated regional centre. With the increase in home values a lot of people are just doing that and can afford to. There is the alternative of E2.[/quote]

Julie,

Agreed that raising $500,000 would not be a problem for some people.

However for those 60+(with no chance of Medicare), EB5, E2, or even in the unlikely event that the USA introduced a proper 'retirement Visa' you still have to face up to the medical cost problem as outlined in the original post.

As also said above, if you have that sort of money you can stay far longer than 6 months in the year if you wish on a visitor's Visa and/or Visa Waiver.

[Ray9]

My recent stay in hospital for 21 hours came to $8000
I have no Insurance ...refused as 60 with high blood pressure ...
and taking more than one pill a day ..

[anorak]

Esprit - you mention EB5 - for those who are not familiar with it you invest half a million dollars in a project, spend about $35,000 in fees etc, the investment is often in Seattle, they pay you 5% profit share (not guaranteed) you get a green card after maybe 9 months, after a further 2 years if the scheme still meeets the criteria you get the restrictions lifted on the green card.
Thats it, you have a full green card and can come and go and live and work as you like. And your wife/husband.

But what about your half million dollars?

In theory you can now get it out of the scheme, but that I believe depends on some other punter buying your investment. As the EB5 scheme is due to end next September will there be anyone who wants to buy your investment?

WIll you ever get your money out?

Or is it a bit like buying a timeshare? And we know how hard they are to sell secondhand.



Any views or further info anyone?

[SDJ]

<blockquote id="quote" class="ffs">quote:Originally posted by Mo Green
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
What I notice more and more in Florida is elderly people working in supermarkets, department stores and car parks. The question might be "can Florida residents afford to retire there"? It looks rather like many can't.
[/quote]

They may not always be working to pay for insurance. When we were over there at Christmas the elderly packer insisted on taking my cart to the car - you an imagine my embarassement. Healthy looking lady with tiny bent up old man pushing a heavily laden trolley.

I asked if he minded me asking how old he was and he was 85! To my question of why did he still work he said he retired at 60, was fed up with watching repeats of movies and TV programmes and was saving up to buy a boat!

Maybe, where there is clearly no upper age limit for employees, some actually enjoy getting out and meeting people and earning some extra spending money.
[/quote]
It has been my husbands ambition for 15 years to stand as a bag checker in Publix!!! Reading the above, he is far too young[msnwink][[msnwink][msnwink]as he is only 69!!!

Seriously we are happy to come and go on our B2 Visa and feel we have the best of both worlds. Long may it continue.

Sandra

[Cruella DeVilla]

I think Alan would be better as a meeter and greeter, he is such a lovely chap:D Mind you that might have a lower age limit of 80 so he's dipped there as well.

[esprit]

The idea of the schemes people invest in for EB5 is that they are like pension funds, in fact many pension funds do invest in the same funds as EB5 applicants buy into just for the income with no immigration benefit, so the idea is you keep your money in and take income. If you put your money in a pension scheme in the UK you cant easily get at that either. There are some EB5 schemes however where there is contingency to get your money out such as the Jay Peak scheme where you are eventually given a condo that you can sell, the Philadephia scheme also has contigency for getting your money back after five years. I will admit the Seattle scheme does not other than selling your investment on.

If you wanted to sell a share in a limited partnership as they are called on, then you are not able to do so to another Eb5 applicant as the money must be at risk so the fact of whether or not the scheme comes to an end late next year ( it is likely to be extended) or not is irrelevant. I will admit that people who enter these schemes are likely to be in for the long term but the idea really is not that people will just invest until their green cards come through and then pull their money, what use would that be to the Americans, they have to get something out of it. I know a couple of people who have invested in these schemes and did so after weighing up the odds. It depends on your finances, for some people living in London the $500,000 at $2 to the £ isnt the major part of their fortunes.

[Zurdo]

if you are from the UK, you are in "rapture" by the so-called "Magic" of Florida.

if you are from the US, and in Florida, you know better. This is no "Magic Kingdom" here, it's the biggest scam ever created when it comes to housing, insurance, and just plain cost of living. And let's not get into the Health Care aspect of this miserable state. Might as well live in Canada. Anyone who says differently about Florida, definitely has some agenda to fulfill.

you have the money to burn it in Florida? Be my guest. Otherwise move to a Caribbean island or any nearby State where your money will last a lot longer and you will not be scammed by all the wolves that lurk in these Forests of Magic.

[chrizzy100]

Fl is not so much different than any other State...we have healthcare and Ins troubles in MA..and the cost of living here is double that of FL...

I'm sure you have your reasons to dislike the place...but many Brits are very happy with their move there....