'Xcel Energy 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.
'Xcel Energy 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 Xcel Energy 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, Xcel Energy 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 Xcel Energy 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 retirement savings options does Xcel Energy offer to its employees?
Xcel Energy offers a 401(k) Savings Plan that allows employees to save for retirement through pre-tax and Roth after-tax contributions.
How does Xcel Energy match employee contributions to the 401(k) plan?
Xcel Energy provides a matching contribution to the 401(k) plan, which is based on a percentage of the employee's contributions, helping to enhance retirement savings.
What is the eligibility requirement for Xcel Energy's 401(k) Savings Plan?
Employees are eligible to participate in Xcel Energy's 401(k) Savings Plan after completing a specified period of employment, typically within the first year.
Can employees at Xcel Energy contribute to their 401(k) plan while on leave?
Yes, employees can continue to contribute to their 401(k) plan while on certain types of leave, depending on the specific circumstances and plan rules.
What investment options are available in Xcel Energy's 401(k) Savings Plan?
Xcel Energy's 401(k) Savings Plan offers a variety of investment options, including target-date funds, stock funds, bond funds, and stable value funds.
Is there a vesting schedule for the employer match in Xcel Energy's 401(k) plan?
Yes, Xcel Energy has a vesting schedule for the employer match, meaning employees must work for the company for a certain period to fully own the matched contributions.
How can Xcel Energy employees access their 401(k) account information?
Employees can access their 401(k) account information through the Xcel Energy benefits portal or by contacting the plan administrator directly.
What is the maximum contribution limit for Xcel Energy's 401(k) plan?
The maximum contribution limit for Xcel Energy's 401(k) plan is subject to IRS regulations, which are updated annually. Employees should check the current limits for accurate figures.
Does Xcel Energy offer a loan option against the 401(k) plan?
Yes, Xcel Energy allows employees to take loans against their 401(k) savings, subject to certain conditions and limits as outlined in the plan documents.
What happens to my 401(k) savings if I leave Xcel Energy?
If you leave Xcel Energy, you can choose to roll over your 401(k) savings to another retirement account, leave it in the Xcel Energy plan (if eligible), or withdraw the funds, subject to taxes and penalties.
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