'J.M. Smucker employees exploring international retirement can enhance their lifestyle by planning carefully around healthcare, tax considerations, and residency requirements abroad.' – Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.
'J.M. Smucker employees nearing retirement should view overseas living as a strategic lifestyle choice that combines financial efficiency with rich cultural experiences—when approached with thoughtful planning.' – Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.
In this article, we will discuss:
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The growing trend of retiring abroad and its increasing allure among Americans.
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Top international retirement destinations and their unique attractions, as highlighted in the 2025 Retirement Overseas Index.
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Key considerations for transitioning to an overseas lifestyle, including residency visas, tax benefits, and healthcare options.
For J.M. Smucker employees seeking a meaningful vacation or a permanent change of scenery after retirement, the idea of retiring abroad might be enticing. Recent trends show more Americans interested in international living. According to a Gallup poll, interest grew to 21% by 2024 from 10% in 2011. Improved global connectivity and broader social acceptance globally are contributing to this rising curiosity.
The 2025 Retirement Overseas Index by Live & Invest Overseas shows why people move abroad. This index rates retirement destinations on cost of living, healthcare quality, local regulations, tax considerations, and proximity to beaches, museums, and nature trails. Such factors are essential for retirement security.
The index considers some cities as good retirement spots. Valencia in Spain has an expat community and a Mediterranean climate for leisure and culture. And Medellin, Colombia, meanwhile, is an active urban area with a varied culinary and cultural scene for retirees looking for a dynamic lifestyle.
Transitioning to an overseas lifestyle takes planning. From choosing the right travel insurance to learning from current expats, J.M. Smucker retirees can prepare for life abroad. Those efforts enable informed decision-making and realistic expectations for those prepared to live internationally.
Understanding residency is also important for retirees moving. For example, Portugal offers the D7 retirement visa, which has accessible income requirements and offers great healthcare and tax advantages. The historical richness, relaxed lifestyle, and beautiful landscape of Portugal are highlighted in the 2025 Retirement Overseas Index.
Find out where to retire abroad in 2025. Explore top options like Valencia and Medellin - both known for their cultural vibrancy, quality healthcare, affordability, and friendly environments. Taxes, residency visas, and leisure tips for retiring Americans abroad. Ideal for J.M. Smucker workers looking for a beachy experience after work.
From Valencia's old-world charm to Medellin's cultural capital, each destination offers something different - like picking a wine for retirement. So, whether it's the soft familiarity of Valencia or the wild energy of Medellin, retirees can choose where to retire by weighing costs of living, healthcare, and local community - like choosing a wine by vineyard, vintage, and flavor profile.
Retiring abroad offers lower cost of living, affordable healthcare, and exposure to other cultures. The five sources that support these points are listed below with brief explanations of how they benefit retirees and strengthen the case for international retirement.
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Source:
1. Investopedia Staff. 'Is Retiring Abroad Right for You? Key Factors to Consider Now.' Investopedia , Nov. 2024, www.investopedia.com/is-retiring-abroad-right-for-you-key-factors-to-consider-now-8415232 .
2. Tubongbanua, Rachelle. 'Retiring Abroad: Financial Factors to Consider.' U.S. Bank , Oct. 2024, www.usbank.com/financialiq/inspire/retirement/retiring-abroad-financial-factors-to-consider.html .
3. Ingrim, Alex. 'The Pros and Cons of Retiring Abroad.' Kiplinger , July 2023, www.kiplinger.com/retirement/retiring-abroad/the-pros-and-cons-of-retiring-abroad .
4. U.S. News Staff. 'Best Places to Retire Overseas in 2025.' U.S. News & World Report , Jan. 2025, www.usnews.com/money/retirement/articles/best-places-to-retire-overseas-in-2025 .
5. Investopedia Staff. 'Retirees Flock to These Countries for Unmatched Benefits—Is Yours on the List?' Investopedia , Oct. 2024, www.investopedia.com/retirees-flock-to-these-countries-for-unmatched-benefits-8421893 .
What type of retirement savings plan does J.M. Smucker offer to its employees?
J.M. Smucker offers a 401(k) retirement savings plan to help employees save for their future.
Does J.M. Smucker provide a company match for contributions made to the 401(k) plan?
Yes, J.M. Smucker provides a company match on employee contributions to the 401(k) plan, which helps to enhance retirement savings.
What is the eligibility requirement to participate in J.M. Smucker's 401(k) plan?
Employees are eligible to participate in J.M. Smucker's 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can employees at J.M. Smucker choose how their 401(k) contributions are invested?
Yes, employees at J.M. Smucker can choose from a variety of investment options for their 401(k) contributions based on their risk tolerance and retirement goals.
What is the maximum contribution limit for J.M. Smucker’s 401(k) plan?
The maximum contribution limit for J.M. Smucker’s 401(k) plan aligns with the IRS limits, which are updated annually.
Does J.M. Smucker allow employees to take loans against their 401(k) savings?
Yes, J.M. Smucker allows employees to take loans against their 401(k) savings under certain conditions and guidelines.
Are there any fees associated with J.M. Smucker's 401(k) plan?
Yes, like many retirement plans, J.M. Smucker's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
Can employees at J.M. Smucker roll over their 401(k) savings from a previous employer?
Yes, employees at J.M. Smucker can roll over their 401(k) savings from a previous employer into J.M. Smucker’s 401(k) plan.
When can employees at J.M. Smucker start withdrawing from their 401(k) accounts?
Employees at J.M. Smucker can typically start withdrawing from their 401(k) accounts at age 59½, subject to certain conditions.
Does J.M. Smucker offer any educational resources for employees to learn about their 401(k) options?
Yes, J.M. Smucker provides educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.
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