Latest news with #MonmouthUniversity
Yahoo
4 days ago
- Entertainment
- Yahoo
Bruce Springsteen fan film 'Tramps Like Us' set for Spring-Nuts Serenade premiere
These Tramps are ready for their close-ups. 'Tramps Like Us,' a documentary exploring the global Bruce Springsteen fan community, will have its world premiere at 7:30 p.m. Sunday, Aug 24, in West Long Branch at the Pollak Theater on Monmouth University. The showing is sponsored by the Bruce Springsteen Archives and Center for American Music, and the Spring-Nuts fan group. Tickets, $30, are available starting at 10 a.m. Wednesday, June 4, on the Springsteen Archives website. Proceeds will benefit the Light of Day Foundation, which raises funds in the fight against Parkinson's and related disease, and TeachRock, the school curriculum aide founded by Steven Van Zandt. 'Tramps Like Us' is directed by Dave Barry, who made the similarly-themed doc about U2 fans called 'Dream Out Loud.' 'The 'Tramps Like Us' film explores how Bruce Springsteen's music, message and presence have shaped lives and created lifelong connections,' said Barry in a statement. 'It's a tribute to the extraordinary relationship between Bruce, his music and his fans.' Barry, a Pompton Plains native, interviewed more than 250 fans in 20 countries for the fan-funded film. 'We're thrilled to welcome 'Tramps Like Us' film to our Pollak Theatre for its premiere!' said Eileen Chapman, director of the Springsteen Archives, in a statement. 'We're excited to share in the experiences and storytelling of fans near and far.' The film will be simultaneously streamed on the Spring-Nuts Facebook group, one-time only, as it's shown at the Pollack. 'Spring-Nuts is so proud and thrilled to be a co-promoter of this epic film ...," said Howie and Julie Chaz, founders of Spring-Nuts, in statement. 'We could not have asked for a better way to cap off Serenade weekend than to watch this mind-blowing collection of personal and profound Springsteen fans' stories together with all our fellow Spring-Nuts at Monmouth University. David Barry has done an incredible job capturing Bruce's legacy and deep connection with his fans. This is a must-see for any Springsteen fan.' The showing coincides with the seventh annual Spring-Nuts Seaside Serenade, which takes place Aug. 22 to 24, with the main event taking place from noon to 5 p.m. Aug. 24 at the Stone Pony in Asbury Park. It's five hours of Springsteen music and sing-alongs. Tickets, $125 for the main event and more, are available at Subscribe to for the latest on the New Jersey music scene. Chris Jordan, a Jersey Shore native, covers entertainment and features for the USA Today Network New Jersey. Contact him at cjordan@ This article originally appeared on Asbury Park Press: Springsteen fan film Tramps Like Us set for Spring-Nuts premiere
Entrepreneur
4 days ago
- Business
- Entrepreneur
Your Passport to Paradise: Financial Prep for Retiring Abroad
Retirement doesn't mean staying put. For many retirees, it means something far more adventurous: moving abroad. One-third (34%) of Americans would like to settle in another country if they were... This story originally appeared on Due Retirement doesn't mean staying put. For many retirees, it means something far more adventurous: moving abroad. One-third (34%) of Americans would like to settle in another country if they were allowed to do so, according to a Monmouth University survey from 2024. This number only stood at 10% in 1974. Although this is a growing trend, some individuals may choose to relocate within the U.S. rather than move abroad. Regardless, retiring internationally can be a dream come true, regardless of whether you want to save money, enjoy warmer weather, or experience a new culture. But only if you've done your homework and laid the financial groundwork. 1. The Global Goldilocks: Choosing Your Destination with Financial Acumen The world is a huge and diverse, and not every country offers the same opportunities for retirees. Even though a particular location may be inviting, a financially sound international retirement requires informed choice. In some countries, retirees can access affordable, high-quality healthcare through generous visa programs. Some places, however, have prohibitive living costs or bureaucratic hassles. In your initial research, focus on these critical financial and logistical factors; Cost of living. Can your retirement income sustain the lifestyle you envision in this country? Research housing costs (rent or purchase), utility expenses, internet and communication costs, transportation options (public vs. private), grocery prices, and dining out costs. Can your retirement income sustain the lifestyle you envision in this country? Research housing costs (rent or purchase), utility expenses, internet and communication costs, transportation options (public vs. private), grocery prices, and dining out costs. Residency requirements. Are there any legal requirements for long-term residency as a retiree? Are there any retirement visas or permits you need to apply for? Be familiar with the application process, fees, and conditions associated with the visa (like a minimum income requirement). Are there any legal requirements for long-term residency as a retiree? Are there any retirement visas or permits you need to apply for? Be familiar with the application process, fees, and conditions associated with the visa (like a minimum income requirement). Healthcare system. What quality of healthcare is available at the destination you have chosen? Do you have access to the public healthcare system as a foreign resident, and if so, under what conditions and at what cost? Consider the availability of specialists, the quality of medical facilities, and the reputation of the healthcare system in general. What quality of healthcare is available at the destination you have chosen? Do you have access to the public healthcare system as a foreign resident, and if so, under what conditions and at what cost? Consider the availability of specialists, the quality of medical facilities, and the reputation of the healthcare system in general. Infrastructure. Does the country's infrastructure meet your needs? For example, ensure transportation networks are reliable, internet access is stable and fast, and housing options are affordable and adequate. Does the country's infrastructure meet your needs? For example, ensure transportation networks are reliable, internet access is stable and fast, and housing options are affordable and adequate. Language and culture. Even though it is not strictly financial, your sense of safety and comfort is invaluable. Consider your willingness and ability to learn or adapt if there is a language barrier. Research the local culture and customs to ensure you feel comfortable and safe in your new environment. Pro tip: Recently, several countries have gained popularity as retirement havens due to factors that appeal to retirees. A few examples worth considering include; Portugal has a pleasant climate, affordable living costs, and the Golden Visa program, which make it an ideal place to live. Warm weather and low costs can be found in Mexico and Costa Rica. A vibrant culture and affordability can be found in Thailand. 2. Navigating the Labyrinth: Understanding International Tax Implications Your tax obligations as a U.S. citizen go beyond borders. In other words, no matter where you live, the United States taxes your income. Fortunately, mechanisms are in place to help mitigate the burden of double taxation. Foreign Earned Income Exclusion (FEIE). The FEIE usually does not apply to retirement income (such as Social Security or pensions). Still, it allows American citizens living abroad to exclude a certain amount of income earned abroad. This may benefit you if you plan to work part-time or consult in your new country. The FEIE usually does not apply to retirement income (such as Social Security or pensions). Still, it allows American citizens living abroad to exclude a certain amount of income earned abroad. This may benefit you if you plan to work part-time or consult in your new country. Foreign tax credit. By claiming this valuable credit, you can reduce your U.S. tax liability by a dollar-for-dollar credit if you have paid income taxes to a foreign country on the same income. As a result, you are not taxed twice on the same earnings. By claiming this valuable credit, you can reduce your U.S. tax liability by a dollar-for-dollar credit if you have paid income taxes to a foreign country on the same income. As a result, you are not taxed twice on the same earnings. Totalization agreements. The U.S. has agreements preventing individuals who work overseas in certain countries from paying double Social Security taxes. Be sure to find out if such an agreement exists at the destination you are considering. The U.S. has agreements preventing individuals who work overseas in certain countries from paying double Social Security taxes. Be sure to find out if such an agreement exists at the destination you are considering. Roth IRAs and 401(k)s. Roth withdrawals are tax-free in the U.S., but withdrawals from traditional accounts are taxed as ordinary income no matter where you reside. You should consider your retirement distribution strategy and any potential U.S. tax liabilities. As such, a tax advisor specializing in international tax law is not recommended — it's usually essential. In the long run, they may be able to save you thousands of dollars by helping you navigate complex regulations, identify potential tax-saving strategies, and ensure compliance. 3. The Global Budget: Adapting to a New Cost of Living Reality Many retirees go abroad to stretch their retirement savings further. Yes, this can be true. However, the actual savings will vary depending on where you go and what you want. Start by comparing your current monthly budget in the U.S. with realistic estimates for life in your dream city. Don't forget to include; Housing. You may want to consider both short-term initial costs and long-term affordability. You may want to consider both short-term initial costs and long-term affordability. Utilities and internet. Service providers for electricity, water, gas, trash collection, and reliable internet. Service providers for electricity, water, gas, trash collection, and reliable internet. Transportation. A comparison of public transportation costs versus vehicle ownership and maintenance costs. A comparison of public transportation costs versus vehicle ownership and maintenance costs. Healthcare and insurance. Medical insurance premiums, out-of-pocket expenses, and routine medical care costs. Medical insurance premiums, out-of-pocket expenses, and routine medical care costs. Groceries and dining out. Typical food prices and restaurant prices in the area. Typical food prices and restaurant prices in the area. Travel back to the U.S. Consider the cost of periodic trips back home. Consider the cost of periodic trips back home. Visa and legal fees. Costs associated with maintaining residency. Also, a financial buffer should be included to account for potential currency fluctuations. You can significantly lose purchasing power if you have retirement income primarily in the U.S. dollar, while your expenses are in the local currency. 4. The Global Safety Net: Planning for Healthcare Coverage Abroad Healthcare is a top concern for retirees, and navigating foreign healthcare systems can be challenging. U.S. Medicare generally does not cover healthcare services received outside the country. Therefore, ensuring adequate healthcare is a non-negotiable aspect of planning your finances in your chosen country. There are typically three main options for health coverage abroad; Private international health insurance. Expats can choose from a variety of international health insurance plans. These plans can differ widely in terms of cost, coverage level, and geographic scope. You should compare different policies to find one that meets your budget and health needs. Expats can choose from a variety of international health insurance plans. These plans can differ widely in terms of cost, coverage level, and geographic scope. You should compare different policies to find one that meets your budget and health needs. Local health insurance. Legal residents, including retirees, can buy into the public healthcare system in some countries. Find out what the public system offers regarding eligibility requirements, costs, and coverage in your target destination. Legal residents, including retirees, can buy into the public healthcare system in some countries. Find out what the public system offers regarding eligibility requirements, costs, and coverage in your target destination. Medical tourism considerations. It may be significantly cheaper to pay out-of-pocket for specific procedures, like dental work or elective surgeries, in some foreign countries. Nevertheless, this should not be your primary healthcare plan. It may be significantly cheaper to pay out-of-pocket for specific procedures, like dental work or elective surgeries, in some foreign countries. Nevertheless, this should not be your primary healthcare plan. Maintaining U.S. Medicare. It might be prudent to maintain your Medicare coverage if you plan to return to the U.S. periodically. Consider the costs and benefits based on your anticipated travel frequency and health needs. If you have long-term or chronic health conditions that require ongoing management, thoroughly research the healthcare availability in your chosen location before moving. 5. Global Banking: Rethinking Access to Your Funds Across Borders You need a thoughtful approach when it comes to banking and accessing your money across borders. As such, here are some key steps to take; Opening a local bank account. The easiest way to pay local bills and access cash in your new country is to open a local bank account. However, you may need a residency visa in some countries before you can open an account. The easiest way to pay local bills and access cash in your new country is to open a local bank account. However, you may need a residency visa in some countries before you can open an account. Keeping a U.S. account open. It is beneficial to maintain at least one U.S. bank account to receive Social Security payments and manage any ongoing expenses related to the U.S. It is beneficial to maintain at least one U.S. bank account to receive Social Security payments and manage any ongoing expenses related to the U.S. Utilizing international-friendly banks. Some global banks are in multiple countries and may offer more favorable currency conversion rates or waive foreign ATM withdrawal fees for their customers. Do your research on these options. Some global banks are in multiple countries and may offer more favorable currency conversion rates or waive foreign ATM withdrawal fees for their customers. Do your research on these options. Monitoring currency exchange rates. You should monitor the fluctuations in currency exchange rates between the U.S. dollar and your chosen destination's local currency. You should monitor the fluctuations in currency exchange rates between the U.S. dollar and your chosen destination's local currency. Leveraging international money transfer services. Compared to traditional bank transfers, online services like Wise (formerly TransferWise) and Revolut can be more affordable and faster. Compared to traditional bank transfers, online services like Wise (formerly TransferWise) and Revolut can be more affordable and faster. Considering cryptocurrency. Cryptocurrency allows faster and potentially cheaper international money transfers than traditional methods, such as banks or money transfer operators. Additionally, cryptocurrency, particularly Bitcoin, can be used as a hedge against inflation in countries with unstable currencies. But, it's also important to be aware of tax implications and volatility. 6. Income Without Borders: Understanding Your Retirement Income Streams Abroad If your retirement depends on fixed income sources like Social Security benefits, pensions, or annuities, it's paramount to ensure you can access them reliably in your new home. Social Security. There are many foreign countries where the Social Security Administration (SSA) can send payments, but not all of them. On the SSA website ( verify whether international payments are available for your specific destination. There are many foreign countries where the Social Security Administration (SSA) can send payments, but not all of them. On the SSA website ( verify whether international payments are available for your specific destination. Pensions. If you want to know the options available for currency conversion and the policies regarding foreign transfers, you should contact your pension provider. If you want to know the options available for currency conversion and the policies regarding foreign transfers, you should contact your pension provider. IRAs and 401(k)s. You will still be subject to U.S. tax laws when withdrawing funds from U.S.-based retirement accounts. To minimize tax liabilities, plan your withdrawal strategy carefully. You will still be subject to U.S. tax laws when withdrawing funds from U.S.-based retirement accounts. To minimize tax liabilities, plan your withdrawal strategy carefully. Required Minimum Distributions (RMDs). If you are over 73, you may need to take Required Minimum Distributions from some retirement accounts. Even living abroad, you can incur significant penalties if you fail to take these distributions. 7. Planning for the Inevitable: Estate and Legal Considerations In terms of estate planning and asset management, living abroad introduces several complications. To resolve these potential issues, take the following steps; Update your will. Review and update your will to comply with both U.S. law and local laws in your new country of residence. Review and update your will to comply with both U.S. law and local laws in your new country of residence. Establish a power of attorney. If you become incapacitated, you should grant power of attorney to a trusted individual in the U.S. and your new country. If you become incapacitated, you should grant power of attorney to a trusted individual in the U.S. and your new country. Consider a trust. A living trust can manage assets across borders, and if properly administered, the probate process can be simplified in both jurisdictions. A living trust can manage assets across borders, and if properly administered, the probate process can be simplified in both jurisdictions. Check inheritance laws. Some countries have 'forced heirship' laws, which may dictate how your assets are distributed upon your death, potentially overriding the provisions of your will. To ensure your estate plan reflects your wishes in both jurisdictions, consult a U.S. estate planning attorney and a legal expert in your chosen destination country. 8. Navigating Uncertainty: Protecting Against Political and Economic Instability Nations that seem peaceful and stable can experience economic shifts or periods of political unrest at any time. Retirees, particularly those on fixed incomes, may be more vulnerable to these fluctuations. To mitigate these risks, implement the following strategies; Diversify your income and assets . Consider holding assets in the U.S. as well as your new country. Consider holding assets in the U.S. as well as your new country. Maintain emergency funds in U.S. dollars. Keeping an emergency fund in U.S. dollars or a U.S. bank account can provide a safety net when unforeseen circumstances arise. Keeping an emergency fund in U.S. dollars or a U.S. bank account can provide a safety net when unforeseen circumstances arise. Explore dual citizenship or long-term residency options. You can enjoy greater legal security and stability in the country of your choice if you acquire dual citizenship or have a long-term, stable residency. You can enjoy greater legal security and stability in the country of your choice if you acquire dual citizenship or have a long-term, stable residency. Stay informed. Follow local news outlets and pay attention to any advisories issued by the U.S. State Department regarding your country of residence. 9. Maintaining Ties: Don't Burn Bridges Back Home If you intend to move abroad permanently, maintaining certain connections with the U.S. can be invaluable; Maintain a U.S. mailing address. This can simplify tax matters, banking communications, and voter registration. This can simplify tax matters, banking communications, and voter registration. Keep your U.S. driver's license (or obtain an international one). This can be useful if you need to return occasionally or make occasional visits. This can be useful if you need to return occasionally or make occasional visits. Register with the U.S. embassy . If you register your presence with them, you can receive assistance from the U.S. embassy in your new country in case of an emergency. If you register your presence with them, you can receive assistance from the U.S. embassy in your new country in case of an emergency. Consider maintaining a small U.S. property or residence. This can be a fallback option if your circumstances abroad unexpectedly change. In addition to providing peace of mind, this flexibility can be highly practical. 10. The Trial Run: Take a 'Test Drive' Before Committing Fully Spend three to six months living in your target destination before moving permanently. As a result of this 'trial retirement,' you gain invaluable insights into; Assess the climate, the community, and healthcare. Get a sense of the daily realities of the climate, interact with the local community, and evaluate the quality and accessibility of healthcare. Get a sense of the daily realities of the climate, interact with the local community, and evaluate the quality and accessibility of healthcare. Refine your budget. You can refine your budget based on a more accurate understanding of the actual cost of living. You can refine your budget based on a more accurate understanding of the actual cost of living. Adjust to the culture and daily life. Become familiar with the culture, learn daily routines, and assess your comfort level in the new environment. Become familiar with the culture, learn daily routines, and assess your comfort level in the new environment. Evaluate the distance from family and friends. Consider its emotional impact on you if you live far from your existing network of friends and family. Often, short-term rental agreements and digital nomad visas make this transition and evaluation more convenient. Final Thoughts: Charting a Course for a Financially Secure Global Retirement Retiring abroad can be the start of a new chapter in your life. Realizing this dream, though, takes careful planning, research, and understanding the unique financial landscape of international living. Don't be afraid to weigh your options, run the numbers, and get expert advice. A little preparation and financial awareness could help you trade the familiar for the foreign and enjoy a richer, more adventurous, and even more affordable retirement. FAQs Can I really afford to retire abroad? How do I assess the cost of living? Almost every aspiring expat retiree asks this question, and the answer is: it depends. In the same country, even within different regions, the cost of living varies dramatically from country to country. For instance, Portugal's small towns are often more affordable than Paris's. How to assess the cost of living: Thorough research is key. You shouldn't rely on anecdotes. Explore online resources like Numbeo, Expatistan, and International Living for comparative cost-of-living information. You shouldn't rely on anecdotes. Explore online resources like Numbeo, Expatistan, and International Living for comparative cost-of-living information. Create a detailed budget. Include the cost of utilities, groceries, transportation, healthcare, entertainment, and even occasional flights home. Include the cost of utilities, groceries, transportation, healthcare, entertainment, and even occasional flights home. 'Test drive' your destination. Consider living like a local before moving permanently (a few weeks or months). In this immersion, you will get a realistic picture of what it costs to live on a daily basis. Consider living like a local before moving permanently (a few weeks or months). In this immersion, you will get a realistic picture of what it costs to live on a daily basis. Factor in your lifestyle. Are you planning to eat out frequently? Is a car necessary? What kind of lifestyle would you prefer, a busy city life or a quieter rural one? The lifestyle you choose will have a significant impact on your spending. Often, retiring abroad is driven by a lower cost of living, which enables your pension, Social Security, and savings to stretch further. You can, however, ruin your dream if you miscalculate these costs. If I move abroad, what will happen to my U.S. retirement accounts (401(k)s, IRAs)? Can I transfer them? While living overseas, you can generally maintain your U.S.-based 401(k) and IRA accounts. Maintaining accounts. Most U.S. financial institutions allow you to keep your retirement accounts open. In some cases, however, providers may be unable to provide services to non-residents, so you may have to transfer your IRA to another custodian that caters to expats (e.g., Interactive Brokers, Charles Schwab). Most U.S. financial institutions allow you to keep your retirement accounts open. In some cases, however, providers may be unable to provide services to non-residents, so you may have to transfer your IRA to another custodian that caters to expats (e.g., Interactive Brokers, Charles Schwab). Contributions. In general, IRAs require earned income to contribute, which may pose a problem if your only source of income is retirement distributions or if the FEIE fully excludes your foreign earnings. In general, IRAs require earned income to contribute, which may pose a problem if your only source of income is retirement distributions or if the FEIE fully excludes your foreign earnings. Withdrawals. As usual, you can continue to take distributions from your U.S. retirement accounts. But, you still have to comply with U.S. income tax rules and early withdrawal penalties (if you are under 59 1/2). As usual, you can continue to take distributions from your U.S. retirement accounts. But, you still have to comply with U.S. income tax rules and early withdrawal penalties (if you are under 59 1/2). Transferring funds. Generally, you cannot transfer funds directly from a tax-advantaged U.S. retirement account (such as a 401(k) or IRA) to a foreign retirement account without significant tax consequences. Typically, such a 'transfer' would be treated as a taxable withdrawal from your U.S. account and a deposit into a non-qualified foreign account. Generally, you cannot transfer funds directly from a tax-advantaged U.S. retirement account (such as a 401(k) or IRA) to a foreign retirement account without significant tax consequences. Typically, such a 'transfer' would be treated as a taxable withdrawal from your U.S. account and a deposit into a non-qualified foreign account. Double taxation on distributions. Although U.S. tax treaties often prevent double taxation on pension income, it's important to understand the specifics. While the U.S. does not tax withdrawals from Roth accounts (if qualified), some countries do. You may also have to pay taxes on your U.S. pension or Social Security benefits if you live in a foreign country. Although U.S. tax treaties often prevent double taxation on pension income, it's important to understand the specifics. While the U.S. does not tax withdrawals from Roth accounts (if qualified), some countries do. You may also have to pay taxes on your U.S. pension or Social Security benefits if you live in a foreign country. Currency risk. When you have your retirement savings in U.S. dollars, you are at risk of currency exchange rate fluctuations. Your purchasing power will decrease when the U.S. dollar weakens against your local currency. Consult with a financial advisor specializing in international retirement planning to optimize tax efficiency, manage currency risk, and strategize withdrawal plans. What are the tax implications of retiring abroad as a U.S. citizen? This is perhaps the most challenging financial issue for U.S. citizens retiring abroad. In addition to Eritrea, the U.S. has the only policy of taxing citizens regardless of where they reside. If your global income exceeds IRS thresholds, you must still file a U.S. federal tax return annually, even if living abroad. Key tax considerations; Worldwide income taxation. The U.S. taxes your income, including Social Security, pensions, investment income (dividends, interest, capital gains), and income from post-retirement work. The U.S. taxes your income, including Social Security, pensions, investment income (dividends, interest, capital gains), and income from post-retirement work. Foreign tax credit (Form 1116). By offering the Foreign Tax Credit, the U.S. prevents double taxation (paying taxes to the U.S. and your new home country). If you have paid income taxes to a foreign government, you can claim a credit against your U.S. tax liability. Usually, if your foreign tax rate is higher than or equal to your U.S. rate, this credit can eliminate your U.S. tax bill on that foreign income. By offering the Foreign Tax Credit, the U.S. prevents double taxation (paying taxes to the U.S. and your new home country). If you have paid income taxes to a foreign government, you can claim a credit against your U.S. tax liability. Usually, if your foreign tax rate is higher than or equal to your U.S. rate, this credit can eliminate your U.S. tax bill on that foreign income. Foreign Earned Income Exclusion (FEIE —Form 2555). The FEIE does not generally apply to passive income such as pensions or Social Security benefits. It is mainly for 'earned income' (wages, salaries, and self-employment). The FEIE does not generally apply to passive income such as pensions or Social Security benefits. It is mainly for 'earned income' (wages, salaries, and self-employment). Foreign Bank Account Report (FBAR – FinCEN Form 114). When the aggregate value of all your foreign financial accounts (including bank and investment accounts) exceeds $10,000, you must report them to the Treasury Department. It is a reporting requirement, not a tax. When the aggregate value of all your foreign financial accounts (including bank and investment accounts) exceeds $10,000, you must report them to the Treasury Department. It is a reporting requirement, not a tax. FATCA (Foreign Account Tax Compliance Act). Under this law, foreign financial institutions must report information about accounts held by U.S. citizens to the IRS. Under this law, foreign financial institutions must report information about accounts held by U.S. citizens to the IRS. Tax treaties. Many tax treaties between the U.S. and other countries are designed to avoid double taxation and clarify which country has primary jurisdiction over certain types of income. In some cases, such as pension distributions, these treaties may offer relief, but the terms vary from country to country, so due diligence is required. Many tax treaties between the U.S. and other countries are designed to avoid double taxation and clarify which country has primary jurisdiction over certain types of income. In some cases, such as pension distributions, these treaties may offer relief, but the terms vary from country to country, so due diligence is required. State taxes. You may still owe state income taxes if you still have ties to the state you last lived in (property, dependents, etc.). You may still owe state income taxes if you still have ties to the state you last lived in (property, dependents, etc.). Estate and gift taxes. No matter where they reside, U.S. citizens are subject to U.S. estate and gift taxes. The process of navigating international tax laws is complex. It only takes one mistake to incur significant penalties or unexpected tax bills. Before moving abroad, it is highly recommended that you speak with a tax professional who specializes in U.S. expat taxation. What about healthcare? Will Medicare cover me abroad? There's a common misconception that Medicare follows retirees overseas, which can be a significant financial burden for them. However, in most cases, Medicare Parts A and B do not cover healthcare services outside the U.S. In rare cases (such as if a foreign hospital is closer than a U.S. one in an emergency), Medicare Parts A and B cover healthcare services outside of the U.S. As such, consider your options for healthcare abroad, such as: Local public healthcare system. In many countries, public healthcare is well-developed. In some cases, you may be able to access local public healthcare at a significantly lower cost or even for free, if you establish legal residency and meet specific eligibility criteria (which might include paying into the local social security system). In many countries, public healthcare is well-developed. In some cases, you may be able to access local public healthcare at a significantly lower cost or even for free, if you establish legal residency and meet specific eligibility criteria (which might include paying into the local social security system). Private international health insurance. For expats, this is a popular choice. With these plans, you can choose your own doctor and facility and have access to 24-hour emergency assistance. Age, health, and coverage level can all influence premiums. Make sure you compare plans carefully and shop around. For expats, this is a popular choice. With these plans, you can choose your own doctor and facility and have access to 24-hour emergency assistance. Age, health, and coverage level can all influence premiums. Make sure you compare plans carefully and shop around. 'Pay-as-you-go.' Some expats choose to pay out-of-pocket for medical services when healthcare costs are low, especially for routine care. However, there is a significant risk associated with this for major emergencies or chronic conditions. Some expats choose to pay out-of-pocket for medical services when healthcare costs are low, especially for routine care. However, there is a significant risk associated with this for major emergencies or chronic conditions. Keep Medicare Part A (hospital insurance). If you've paid Medicare taxes for enough years, Part A typically has no premium. You will be covered when you return to the U.S. for extended periods or major procedures. has no premium. You will be covered when you return to the U.S. for extended periods or major procedures. Consider keeping Medicare Part B. Part B has a premium, but if you decide to return permanently to the U.S., you won't be penalized for late enrollment. In general, healthcare expenses can be among the largest retirement expenses. To feel financially secure, you must understand your options and secure appropriate coverage. Do I need to consult with experts before retiring abroad? Absolutely, yes. Several aspects of retiring abroad are best navigated with the assistance of a professional. International tax specialist. It is essential to have a thorough understanding of U.S. tax obligations, foreign tax laws, and tax treaties. It is essential to have a thorough understanding of U.S. tax obligations, foreign tax laws, and tax treaties. Financial advisor specializing in expats. Can help you strategize investments, manage income streams, and build a strong financial plan for an international lifestyle. Can help you strategize investments, manage income streams, and build a strong financial plan for an international lifestyle. Immigration lawyer. It is essential to have a detailed understanding of visa requirements, residency requirements, and property ownership laws in the country of your choice. It is essential to have a detailed understanding of visa requirements, residency requirements, and property ownership laws in the country of your choice. Local experts. An accountant, lawyer, and real estate agent in your chosen country can provide insight into local laws, customs, and practicalities. Ultimately, international finance, legal requirements, and tax laws are too complex to handle without professional assistance. Investing in professional guidance upfront can save time, money, and stress in the long run. Image Credit: Andrea Piacquadio; Pexels The post Your Passport to Paradise: Financial Prep for Retiring Abroad appeared first on Due.
Time of India
17-05-2025
- Entertainment
- Time of India
Bruce Springsteen in Donald Trump's crosshairs? President delivers chilling warning, says ‘We'll see how it goes for him' after his return from European tour
Donald Trump lambasted Singer Bruce Springsteen, labelling him 'overrated' and an 'obnoxious jerk' after the rocker aired his damning opinion of the Trump led United States government while on tour. On May 14 in Manchester, England, at the Etihad Stadium Bruce Springsteen started his 2025 Europe tour. At the concert, he spoke about Donald Trump's government. He said it was 'corrupt, not good at its job, and doing things that go against the country.' As per the reports, Springsteen said the America I love is being run by people who are corrupt, don't know what they're doing, and are hurting the country. He asked people to 'rise against authoritarianism and let freedom ring' 'the power of art, music, and rock 'n' roll is important during dangerous times, according to the reports. Springsteen performed 29 songs at the show. It started with 'Land of Hope and Dreams' and ended with a Bob Dylan cover, 'Chimes of Freedom', which he hadn't performed since 1988. He added a snippet of 'People Get Ready' at the end of the opening song. He performed 'Rainmaker' live for the first time ever, and dedicated it to Donald Trump, calling him 'our dear leader.' Songs like, Death to My Hometown, Lonesome Day, My Love Will Not Let You Down, Darkness on the Edge of Town, The Promised Land, Hungry Heart, My Hometown, Youngstown', and many more. Live Events The additional performance songs were, Born in the U.S.A., Born to Run, Bobby Jean, Dancing in the Dark, Tenth Avenue Freeze-Out, and Chimes of Freedom. After this concert, Trump responded angrily on his social media app Truth Social on Friday. Trump called Springsteen 'highly overrated,' 'not a talented guy,' and a 'pushy, obnoxious JERK.' Trump also said, 'This dried out 'prune' of a rocker ought to KEEP HIS MOUTH SHUT until he gets back into the Country.' Trump brought up Joe Biden, calling him 'Sleepy Joe' and said Springsteen is 'dumb as a rock.' Trump added, 'We'll all see how it goes for him,' suggesting there might be consequences when Springsteen returns to the U.S. Trump also made comments attacking Taylor Swift. The American Federation of Musicians released a statement defending Bruce and Taylor. According to the reports, The American Federation of Musicians said, 'Bruce Springsteen and Taylor Swift are not just brilliant musicians, they are role models and inspirations to millions. He added. 'musicians have the right to freedom of expression.' In 2025, at Monmouth University's Pollak Theatre at the American Music Honors, Springsteen performed and shared the stage with Smokey Robinson, Tom Morello, and John Fogerty. The Songs sang at that event were, This Land Is Your Land, Fortunate Son, Tenth Avenue Freeze-Out. Springsteen will be performing again in Manchester on May 17 and 20. His tour and comments are happening while everyone is talking about the 2024 U.S. presidential election. Trump is headlines as usual and involved in politics again. FAQs Q1. What did Bruce Springsteen say about Trump? He called Trump's government corrupt and not good at its job to the country. Q2. What was Trump's response to Bruce Springsteen? Trump got angry at Springsteen and criticized him during his concert. Economic Times WhatsApp channel )
Yahoo
14-05-2025
- Entertainment
- Yahoo
Bruce Springsteen Jams With John Fogerty, Tom Morello, Smokey Robinson at American Music Honors
The American Music Honors, an annual event organized by the Bruce Springsteen Archives & Center, took place Saturday at Monmouth University in West Long Branch, New Jersey, this year honoring Smokey Robinson, John Fogerty, Emmylou Harris, Tom Morello, and Joe Ely. Every honoree with the exception of Joe Ely was on site to receive the award, as well as perform their classic songs with help from Little Steven and the Disciples of Soul, Bruce Springsteen, and surprise guests Jackson Browne, Nils Lofgren, Nora Guthrie, and Darlene Love. In other words, an all-star event on par with the Rock and Roll Hall of Fame induction ceremony was staged in front a mere 714 people on a college campus, and there's no plans to air it on television. Fortunately, phones were allowed, and there's lots of fan footage. (Let's give a special shoutout to Dr. Marty Jablow for his great camera work.) More from Rolling Stone Bruce Springsteen Shares Unreleased 'Blind Spot' From 'Tracks II: The Lost Albums' How Craig Finn Made the Seventies L.A. Record of His Dreams Brad Paisley on That Time Charley Pride Surprised Him at the White House Former NBC News anchor Brian Williams was the host for the evening, and Springsteen personally delivered the induction speeches for Ely and Fogerty. In a revival of some of the best moments from the 2004 Vote For Change tour, Springsteen performed the Creedence classics 'Bad Moon Rising,' 'Proud Mary,' and 'Fortunate Son' with Fogerty. Springsteen also covered Joe Ely's 1995 song 'All Just to Get to You,' and teamed up with Smokey Robinson for 'Going to a Go-Go,' Jackson Browne for 'Take It Easy,' and Tom Morello for 'The Ghost of Tom Joad' and 'Tenth Avenue Freeze-Out.' At the end of the night, everyone from the show came back onstage along with Darlene Love and Nora Guthrie for 'This Land Is Your Land.' The Woody Guthrie classic was a regular part of Springsteen's live show in the Eighties, but it's become a rarity these days. He last performed it in 2013. Next month, Springsteen and the E Street Band head over to Europe for a run of 16 stadium shows. And on June 27, Tracks II: The Lost Albums – a collection of seven complete records Springsteen recorded between 1983 and 2018 – is finally coming out after years of feverish anticipation. The Springsteen biopic Deliver Me From Nowhere, staring Jeremy Allen White, is also due out before the end of the year. It focuses on the creation of 1982's Nebraska, and also stars Jeremy Strong, Paul Walter Hauser, Gaby Hoffmann, Marc Maron, and Stephen Graham. Best of Rolling Stone The 50 Greatest Eminem Songs All 274 of Taylor Swift's Songs, Ranked The 500 Greatest Albums of All Time
Yahoo
31-03-2025
- Business
- Yahoo
NJ netted 46K new jobs in 2024, which put it 20% nationally in job growth
New Jersey net nearly 46,000 new jobs over 2024, or a 1.1% increase, ranking the state 20th in job growth last year. That's according to recent numbers put out by the U.S Bureau of Labor Statistics, a federal agency that tracks employment levels nationwide. New Jersey's numbers are fairly 'middle of the pack,' said Robert Scott, an economist at Monmouth University. 'I would say New Jersey is in OK shape as far as employment is concerned,' he said. 'Job growth is decent, but not amazing over the last year. Our unemployment rate is reasonably low historically.' The state's unemployment rate was 4.6% as of February, just up from 4.4% that same month last a December survey, the New Jersey Business and Industry Association reported that 62% of employers did not expect that many changes to their employment levels in 2025. Fifty-seven percent of New Jersey businesses said they had no plans to expand in the state, the poll added. New Jersey's unemployment rate is the 11th highest in the nation, according to the Bureau of Labor Statistics. A year ago, it had the sixth highest unemployment rate in the nation. Nevada had the worst unemployment rate at 5.8%, while South Dakota's was the lowest jobless rate at 1.9%. Nationally, the unemployment rate is 4.1%. New Jersey's latest unemployment rate is still a far cry from the 15.4% unemployment seen in May 2020 during the COVID-19 business closures, which was New Jersey's highest unemployment rate since those figures were first tracked in 1976. Higher-paying office jobs became saturated coming out of the COVID-19 pandemic, James Hughes, an economist at Rutgers University, said in an interview last year. That pushed New Jersey's unemployment rate in 2022 coming out of the pandemic down to 3.0% in August that year. Blame the high cost of living and high taxes for New Jersey's unemployment rate hovering above the national average, said Scott, the Monmouth University economist. That translates to fewer new businesses being formed, he said. 'With mature industries already existing in NJ, that makes it more challenging to get new business financing, venture capital,' he continued. The creation of new businesses slowed both in New Jersey and across the entire Northeast U.S between February 2024 and February 2025, according to data from the U.S Census Bureau. Nearly 100 New Jersey companies announced more than 13,300 layoffs combined in 2024, public records show, as white-collar sectors such as pharmaceuticals, banking and finance tightened job counts. Not all 13,332 people were necessarily out of a job. For example, a layoff notice was filed for 157 people from the Metropolitan YMCA in Wayne, but many of those workers were rehired. And Big Lots said in December last year that it was handing 385 New Jersey workers the pink slip, but then announced a last-minute deal to keep 400 of its U.S stores open. Daniel Munoz covers business, consumer affairs, labor and the economy for and The Record. Email: munozd@ Twitter:@danielmunoz100 and Facebook This article originally appeared on NJ was 20th nationally in job growth in 2024
