Yes, you can claim your Social Security benefits no matter where in the world you live.
If you are a U.S. citizen and qualify for Social Security retirement, family, survivor or disability benefits, you can receive your payments while living in most other countries.
We calculate Social Security benefits in U.S. dollars. We do not increase or decrease your benefits because of changes in international exchange rates. The U.S. Department of the Treasury prohibits making payments to persons residing in Cuba or North Korea.
As is not the case with Medicare, retirees who decide to move to another country are still entitled to Social Security benefits. Once a retiree has been outside the country for 30 days in a row, he or she is considered outside the United States and the rules for collecting benefits apply.
Almost any country you would want to live in welcomes American retirees, as long as they can prove that they have a certain minimum income from some combination of Social Security, a pension, and investment income.
If you are seeking a position with the U.S government or your job requires access to information that is considered classified by the U.S. government, having dual citizenship may bar you from gaining the security clearance you need for this type of employment.
If you are planning to retire or live abroad, you may be concerned about whether you'll still be able to collect your Social Security retirement, disability, or survivor benefits. In most cases, the answer is yes.
Social Security: You can have your Social Security deposited directly into your account in 69 countries around the world, among them popular retirement havens like Belize, Mexico, Panama, and Ecuador.
Mexico Doesn't Have A Standard Retirement Visa
While Mexico is a popular retirement destination, those looking to retire in the country must use other types of visas for this purpose. The three main visas recommended for retirees are the tourist visa, temporary resident visa, or permanent resident visa.
Remember, you can have Medicare while you live abroad, but it will usually not cover the care you receive. Most people qualify for premium-free Part A, meaning you will pay nothing for coverage. If you must pay a premium for Part A, be aware of the high monthly cost for maintaining Part A coverage.
U.S. – Mexico Social Security Totalization Agreement
As of this time, Mexico has not entered into a Totalization Agreement with the United States thus there is no opportunity to avoid double taxation of social security income for US expat tax in Mexico.
U.S. taxes when retiring in Mexico
You still pay taxes when retiring abroad. If you retire in Mexico, you will still file a tax return and report income just as you would if you retired in the U.S.
Can Americans Legally Live in Mexico? By law, American tourists can stay in Mexico for up to six months. For many snowbirds and retirees, six months is more than enough. They head south for the chilly winter months and come back to enjoy spring and summer stateside.
Agreement to Benefit U.S. Workers and Employers
“This agreement eliminates a serious and unnecessary impediment to American and Mexican businesses and their employees,” Commissioner Barnhart stated. “Just as important, it promotes equity and fairness for workers who divide their careers between our two countries.”
According to various studies, including International Living, Portugal is ranked as the best country for US expats to retire to. Its friendly population, welcoming community of American expats, excellent weather, safety records, and affordable cost of living are all big draws for retirees.
Panama. Named to the top spot of "Best Places to Retire in 2022" on International Living's Annual Global Retirement Index, Panama has become a popular retirement destination.
You can renounce your citizenship, avoid (most) future US taxes and still receive the income/benefits from the US from which you are entitled.
Average Cost to Retire in Mexico
A retired couple can expect to retire comfortably in Mexico with an average income of about $2,500 a month, or $30,000 a year, according to InternationalLiving.com. These figures include the cost of a house, a maid service, utilities, groceries, entertainment, health insurance and more.
What happens to my State Pension if I move abroad? As long as you've paid enough National Insurance, you can claim your State Pension while living abroad. The main difference is that if the State Pension increases, you may not benefit from the extra amount if you're living in certain countries.