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Americans Going South.
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| Tuesday, December 6, 2005 - Vol. 7 No. 244 |
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In Today's Letter:
Comment: Americans Going South
Wealth: Singapore Example
Offshore: Panama Pension Deal. Liechtenstein Jet Settlement
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Americans Going South
Dear A-Letter Reader:
According to The New York Times, starting in January, 2006 so-called "baby boomers," defined as those born between 1946 and 1964, will start turning 60 at a rate of more than four million a year. Most of the baby boomers are 59 now, the age when Americans can start collecting certain Social Security and other retirement benefits without penalty. The number of Americans 55 and older is expected to skyrocket from 67 million this year to 97 million by 2020.
The Americans in this age group are different than the generations that preceded them; healthier, live longer, more active, mobile and adventurous than their ancestors. Trends suggest many will work beyond the traditional retirement age of 65, launching second careers, becoming entrepreneurs or focusing more on private charitable and volunteer projects.
But in one major aspect these boomers are different. They well may want to escape colder climates, and move South to enjoy golf and early bird specials in retirement communities, but their target communities won't necessarily be located in traditional US retirement havens such as Florida, Arizona or California.
Many of these older Americans instead will retire to small nations in Central America, including Costa Rica, Nicaragua or even Belize and Panama.
Coley Hudgins, writing for TechCentral , explains: "One of the key goals of this more affluent group of retirees is reducing living expenses by moving to sun-belt communities with cheap housing and lower taxes. But just as millions of retiring baby boomers are getting ready to migrate to warmer sun-belt states, these attractive retiree destinations are experiencing skyrocketing real estate prices and property tax assessments that may put these locations out of reach for all but the most wealthy boomers."
That's why so many potential Americans and other retirees from Canada and other nations are looking way South.
In nations such as Panama and Belize, special residency programs welcome US persons and others with low or no taxes, reduced cost medical care, low prices on drug prescriptions and lower costs on necessities, including rents, groceries and entertainment. Panama describes itself as the world's greatest retirement destination, offering immediate official residency through a variety of investment programs and in Panama foreign retirees pay no real estate or property taxes for 20 years.
One of the major offshore functions of the Sovereign Society is to give advice in relocating to nations where the living is favorable and the taxes are either very low, or non-existent. This advice can range from where and how to obtain foreign residency status, to acquiring legal dual nationality and second passports. In our publications, including books that I authored, we explain in detail how to go offshore in a very personal way. That includes the names of professionals in offshore havens who can assist your real estate agents and developers in places such as Boquete in Chiriqi province, named as one of the prime retirement communities for foreigners in the world.
And if you're not ready to retire, you can do what many others who live offshore are doing -- bring your business with you and, hooked to DSL lines, you and your laptop can continue to work and earn in tropical climes. Think about it and ask us if you have questions.
That's the way that it looks from here.
BOB BAUMAN, Editor
PS: For more information on the advantages of obtaining a second passport,
click here:LINK:
http://www.isecureonline.com/reports/190SGOPS/E190FC11/
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Stop Shopping For Gifts For The Kids. We've Taken Care Of It!
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Singapore Example
SINGAPORE: As I told you when I visited here a month ago, this city state is one of the most remarkable success stories in modern history -- and an example to Third World nations around the globe. That, in spite of the fact that it is a one-party semi-dictatorship run by the Lee family dynasty. Singapore was able to overcome its status as a poor, third world colony and develop into a powerful exporter of high-tech electronics and medicinal products.
Singapore was colonized by the British in 1824, but attacked and occupied by Japan from 1942 to 1945. The British then retook control and in June of 1959 it was declared an independent Commonwealth member. In 1965 it gained full independence as the Republic of Singapore. Independence found the city-state as a small island nation lacking natural resources, populated by a mix of races (Chinese, Indian, and Malaysian), and surrounded by rebellious neighbors who threatened the region's stability. Yet, by adopting free market policies (if not total freedom), it is today a text example of how top build wealth for both nation and people. Despite the slump in tourism in the region caused by the earthquake and the tsunami late last year, Singapore's economy grew an impressive 8.1% in 2004.
There's a major lesson in Singapore for other emerging nations -- and for the leftists who advocate socialism as a solution for poverty.
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Panama Settles Pension Reform
PANAMA CITY: After months of on and off street demonstrations, uncertainty, negotiations and politicking, the government of President Martin Torrijos has announced a settlement. The "national dialogue" on Law 17 that attempted to reform the Social Security system (CSS) produced a compromise in which fees to be paid by employers and employees together will be raised from 18% to 22.25%. Employees will pay 9.25% and employers 13%. The government will support the CSS pension program (which benefits the handicapped, retired and widows and orphans) with a sum of $7.105 billion, over a period of 47 years. The new retirement ages are set at 57 years for women and 62 for men. The Panama press reports that not everyone is happy with this and some unions have pledged to begin protests, but it appears as though Torrijos has weathered one of the major political storms of his presidency.
Liechtenstein: Return of the Falcon
BASLE, SWITZERLAND: Demonstrating its belief in property rights, Liechtenstein has returned to Iraq a Falcon 50 private jet once used by Iraqi ex-dictator, Saddam Hussein. The gesture was hailed by the Iraqi ambassador as an act of "great symbolic importance for the Iraqi people." The plane's return follows two years of negotiations between Liechtenstein, where the jet was registered, Jordan, where it was impounded in 2003, and the US, which led the invasion and occupation of Iraq. Now on trial in Baghdad for mass murder, it's unlikely that Saddam will ever get to enjoy the Falcon again.
For more information on ways to protect and grow your wealth in Liechtenstein:
http://www.isecureonline.com/reports/190SSWIT/E190FC12/
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How to Legally Obtain a Second Passport and Live the Life of Your Dreams
Own a 16th century farmhouse in the French countryside...a villa along the Spanish or Italian Riviera...an oak beamed cottage on a secluded mountain range in the center of Europe...
Countries all over the world are filled with extraordinary possibilities- most of which are never even explored, considered or carried out by the average individual.
Find out more about what a second passport can do for you, clickhere:LINK:
http://www.isecureonline.com/reports/190SGOPS/E190FC11/
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER .
* Bob Bauman, Editor * Daniel Aponte, Jr., Managing Editor,
* Matthew Barrett , E-Commerce Mgr. * Erika Nolan, Publisher.
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