'Meritor 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.
'Meritor 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 Meritor 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, Meritor 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 Meritor 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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- How Are Workers Impacted by Inflation & Rising Interest Rates?
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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 is the primary purpose of Meritor's 401(k) Savings Plan?
The primary purpose of Meritor's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax or after-tax basis.
How can employees enroll in Meritor's 401(k) Savings Plan?
Employees can enroll in Meritor's 401(k) Savings Plan by accessing the enrollment portal through the company’s HR website or by contacting the HR department for assistance.
What types of contributions can employees make to Meritor's 401(k) Savings Plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and may also be eligible for catch-up contributions if they are age 50 or older.
Does Meritor offer any matching contributions to the 401(k) Savings Plan?
Yes, Meritor offers a matching contribution to the 401(k) Savings Plan, which is designed to encourage employees to save for retirement.
What is the vesting schedule for matching contributions at Meritor?
The vesting schedule for matching contributions at Meritor typically follows a graded schedule, where employees become vested in their employer match over a period of time.
Can employees change their contribution amounts to Meritor's 401(k) Savings Plan?
Yes, employees can change their contribution amounts to Meritor's 401(k) Savings Plan at any time, subject to the plan’s guidelines.
What investment options are available in Meritor's 401(k) Savings Plan?
Meritor's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their portfolios.
How often can employees reallocate their investments in Meritor's 401(k) Savings Plan?
Employees can typically reallocate their investments in Meritor's 401(k) Savings Plan on a quarterly basis or as specified in the plan documents.
Is there a loan provision in Meritor's 401(k) Savings Plan?
Yes, Meritor's 401(k) Savings Plan may allow employees to take loans against their account balance, subject to certain conditions and limits.
At what age can employees begin withdrawing from Meritor's 401(k) Savings Plan without penalties?
Employees can begin withdrawing from Meritor's 401(k) Savings Plan without penalties at age 59½, provided they meet the plan's requirements.
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