The good news is that even for people who have chosen to retire in Belize on a permanent basis, they cancontinue to receive their Social Security payments. American federal law does not discriminate against where retirees live in order to determine whether or not they can receive Social Security payments. Indeed, more than one million Americans around the world receive Social Security payments.
The easiest way for retirees to continue to receive their benefits is by having them deposited automatically into an American bank account. Using a standard ATM card, retirees can then withdraw their money in Belize (or anywhere else). Or, if you prefer, you can have your Social Security funds deposited into your American bank account and then log onto your online banking portal and forward the money to a Belize bank account.
Alternatively, U.S. retirees could choose to have their Social Security payments wired directly to a Belize bank account, but this is usually not recommended as there may be some unexpected delays. Belize‘s banking system is robust but is not as automated as the system in the United States.
When you’re able to count on regular Social Security payments, living in Belize is a lot easier. You can use these funds to buy Belize properties or to take care of monthly living costs like utility payments or subscribing to an internet provider in Belize. According to International Living magazine, a couple can live very well in Belize for around $1,500 a month.
One of the most popular places for American retirees to live in the country is the neighborhood of Cerros Sands. A true “community in the country” situated in Belize‘s northern Corozal District just a few miles from the border with Mexico, Cerros Sands offers all the comforts of modern living in a laid-back, Caribbean environment. A master-planned, gated community, Cerros Sands is entirely energy self-sufficient and “off the grid.”
Cerros Sands has homes, condominiums, and undeveloped lots with beachfront, beachview, and deep water channel access for sale starting at just $17,700. Cerros Sands also offers in-house financing at very generous rates, including deep discounts for all-cash purchases.