Financial Advice Details Retirement Planning in Greece and Crete
1 report, 1 independent
Updated Sun 00:00
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What happened
Guides advise that Crete is uniquely suited for American retirees due to its two airports, year-round ferries, and private hospitals in Heraklion and Chania. For a couple claiming Social Security at age 67, the required investment portfolio is estimated at around $492,000. The financial plan must account for Greece's 7% flat tax on foreign pension income, which adds nearly $4,800 annually.
From aol.com
Why it matters
The advice highlights that US Medicare does not cover medical expenses incurred in Greece. This cross-border financial reality means that those planning retirement abroad must factor in both the local tax structure and the limitations of their home country's healthcare system.
From aol.com