'UFP Industries 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.
'UFP Industries 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 UFP Industries 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, UFP Industries 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 UFP Industries 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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- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and 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 type of retirement savings plan does UFP Industries offer to its employees?
UFP Industries offers a 401(k) retirement savings plan to help employees save for their future.
How does UFP Industries match employee contributions to the 401(k) plan?
UFP Industries provides a matching contribution to the 401(k) plan, which typically includes a percentage of the employee's contributions, subject to certain limits.
What is the eligibility criteria for employees to participate in UFP Industries' 401(k) plan?
Employees at UFP Industries are generally eligible to participate in the 401(k) plan after completing a specified period of service, usually within the first few months of employment.
Can employees of UFP Industries make pre-tax contributions to their 401(k) accounts?
Yes, UFP Industries allows employees to make pre-tax contributions to their 401(k) accounts, reducing their taxable income for the year.
Does UFP Industries offer a Roth 401(k) option for employees?
Yes, UFP Industries provides a Roth 401(k) option, allowing employees to make after-tax contributions that can grow tax-free.
What investment options are available in the UFP Industries 401(k) plan?
The 401(k) plan at UFP Industries includes a variety of investment options, such as mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to the UFP Industries 401(k) plan?
Employees can typically change their contribution amounts to the UFP Industries 401(k) plan on a quarterly basis or as specified in the plan documents.
What happens to an employee's 401(k) balance if they leave UFP Industries?
If an employee leaves UFP Industries, they have several options for their 401(k) balance, including rolling it over to another retirement account, leaving it in the UFP Industries plan, or cashing it out.
Does UFP Industries charge fees for managing the 401(k) plan?
Yes, UFP Industries may charge administrative fees and investment-related fees for managing the 401(k) plan, which are disclosed in the plan documents.
How can employees access their 401(k) account information at UFP Industries?
Employees can access their 401(k) account information through the online portal provided by UFP Industries' plan administrator.
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