Co-Founder of Red Feather Financial, Dr. Sabrina Scott Talks About The Growing Popularity Of Retiring Overseas And The Need For Appropriate Financial Planning
Dr. Sabrina Scott recognizes that more and more Americans are exploring the notion of retiring in foreign countries and offers a brief overview of some of the many financial considerations that must also be explored before making a final decision.
DECATUR, GA, October 22, 2019: Dr. Sabrina Scott, co-founder of Red Feather Financial, has posted a new article on the firm’s website entitled “Should We Stay Or Should We Go,” in which Dr. Scott helps readers understand some of the many financial considerations that need to be explored when thinking about retiring overseas.
Dr. Scott writes, “The question of staying stateside or going overseas is one that many people pose to themselves as they think about and plan for retirement.” She elaborates, “Many American retirees do pack up and relocate to foreign countries. In fact, as of April 2019, the Social Security Administration was sending 685,000 payments to beneficiaries overseas.” She adds, “That’s a 40% increase over the past 10 years and is considered to be just the tip of the iceberg, according the Social Security Administration, due largely to the fact that many Americans who are living abroad still have their Social Security checks deposited into their banks in the states.”
As Dr. Scott points out, “One of the major draws for Americans to retire overseas is the cost of living. Living on a fixed income in some foreign destinations will allow many Americans to live like royalty or at least richer than they can in the U.S.”
“If you truly do dream of retiring in another country,” says Dr. Scott, “your financial planner will need to take that into account. There will be many laws that must be understood and other financial considerations depending on the country of your dreams.” She continues, “And, if you currently have an estate and asset protection plan in place, that too will certainly need to be geared toward the laws of whatever country you set your sights upon.”
Dr. Scott emphasizes that, “Good planning is important for a comfortable retirement no matter where you retire. But it’s especially important when going to a foreign country that your financial plan, estate plans, asset protection plans, and wills, are going to be appropriately administered in your new place of residence.” She goes on to say that, “Awareness of the laws that affect you financially, and otherwise, is always the key to good planning whether you stay on American soil when you retire or go elsewhere.”
The entire article can be read at https://redfeatherfinancial.com/should-we-stay-or-should-we-go/
About Dr. Sabrina Scott
Sabrina Scott learned about Veterans Benefits and Medicaid when her parents sought legal services for long-term care. Confident she could find ways to preserve her family’s resources and still get access to Government Assistance, Sabrina felt there should be more options than relying on welfare. As a result, Dr. Scott became an investment advisor representative who can make recommendations regarding securities and became licensed in insurance as well. She co-founded Red Feather Financial with Victoria Collier to help those who want to have a plan in place in order not to outlive their resources and who do not want to be a burden to their children.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. Victoria is also Co-Founder of Red Feather Financial. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace. Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit.
About Red Feather Financial
Red Feather Financial is an independent financial advisory firm born with a singular mission: to financially empower our clients and protect their financial future. Most people come to see us because they are worried about having enough money for retirement and long-term care costs. We help by showing our clients how they can leverage their assets in the most tax-efficient and cost-effective ways.