What Walgreens Boots Alliance Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Walgreens Boots Alliance Walgreens Boots Alliance primarily operates through its retail pharmacy network, including Walgreens and Boots pharmacies, along with a range of healthcare services. The company partners with various insurance and healthcare providers to offer accessible pharmacy services, health and wellness products, and integrated healthcare solutions aimed at enhancing patient care. Potential Healthcare Cost Increases in 2026 In 2026, employees of Walgreens Boots Alliance are likely to face significant increases in healthcare costs as insurance premiums for ACA marketplace plans are projected to rise sharply, in some instances exceeding 60%. With the potential expiration of enhanced federal subsidies, many enrollees may see their out-of-pocket costs escalate by over 75%. Coupled with rising medical costs driven by inflation and increased demand for expensive treatments, employees need to be proactive in understanding their health benefits and planning accordingly to manage these anticipated financial burdens. Click here to learn more

For example, Walgreens Boots Alliance employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for Walgreens Boots Alliance employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for Walgreens Boots Alliance employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of Walgreens Boots Alliance employees.

Simply for political, economic, and social reasons, many Walgreens Boots Alliance employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at Walgreens Boots Alliance.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by Walgreens Boots Alliance employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, Walgreens Boots Alliance employees who are retiring abroad need to plan carefully.

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Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'Walgreens Boots Alliance and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What type of retirement savings plan does Walgreens Boots Alliance offer to its employees?

   Walgreens Boots Alliance offers a 401(k) retirement savings plan to its employees.

   How can employees of Walgreens Boots Alliance enroll in the 401(k) plan?

   Employees of Walgreens Boots Alliance can enroll in the 401(k) plan through the company’s HR portal or by contacting the benefits department for assistance.

   Does Walgreens Boots Alliance match employee contributions to the 401(k) plan?

   Yes, Walgreens Boots Alliance provides a matching contribution to the 401(k) plan, subject to certain limits.

   What is the maximum employee contribution percentage allowed in the Walgreens Boots Alliance 401(k) plan?

   The maximum employee contribution percentage allowed in the Walgreens Boots Alliance 401(k) plan is in line with IRS limits, which can change annually.

   Are there any waiting periods for new employees to join the Walgreens Boots Alliance 401(k) plan?

   Walgreens Boots Alliance typically allows new employees to join the 401(k) plan after completing a specified waiting period, usually within the first few months of employment.

   Can employees of Walgreens Boots Alliance take loans against their 401(k) savings?

   Yes, employees of Walgreens Boots Alliance may have the option to take loans against their 401(k) savings, subject to the plan's terms.

   What investment options are available within the Walgreens Boots Alliance 401(k) plan?

   The Walgreens Boots Alliance 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   How often can employees change their contribution amounts to the Walgreens Boots Alliance 401(k) plan?

   Employees of Walgreens Boots Alliance can typically change their contribution amounts at any time, subject to the plan’s guidelines.

   What happens to the 401(k) savings if an employee leaves Walgreens Boots Alliance?

   If an employee leaves Walgreens Boots Alliance, they can choose to roll over their 401(k) savings to another retirement account, cash out, or leave the savings in the plan, depending on the balance and plan rules.

   Does Walgreens Boots Alliance provide educational resources to help employees understand their 401(k) options?

   Yes, Walgreens Boots Alliance offers educational resources and workshops to help employees understand their 401(k) options and make informed decisions.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Walgreens Boots Alliance is a global leader in retail pharmacy, known for its extensive network of drugstores and health and wellness services.
   Walgreens Boots Alliance provides RSUs to certain employees. These RSUs vest over time, encouraging employee retention.