Top Overseas Retirement Havens

"Kathleen, just read in your Mailbag about the cash carrying requirements and gold and silver coins. One other thing you could mention is that the coin is recognized at face value, not market value. That is, a 1-ounce gold coin is worth only US$50 for income tax purposes. That is all the IRS will give you for it, so that is all it is worth. Nevermind the fiat value of it.

"A US$10,000 reporting requirement, therefore, allows you to carry 200 1-ounce gold liberties before having to report anything. Not sure whether the border guard knows this, but it is a fact.

"I wonder what the USA (IRS) would do if the entire country reported their income in gold coin equivalent, like the constitution states.

"That's US$1,250 Federal Reserve notes to each US$50 gold coin. Or US$250,000 Federal Reserve note value that can be carried without any reporting requirement.

"Ask an IRS lawyer if he accepts gold coins for taxes. Then ask at what value.

"Love your newsletter."

-- John S., United States

***

"Which are the best countries for retirees from the United States to consider right now?"

-- Gerri M., United States

Here are my current top picks: The World's Top 15 Retirement Havens. Continue Reading:

Investing In Panama

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Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.