2 Places Grant Cardone Loves for Retirement
Written by
Gabrielle Olya
Edited by
Joe Evans
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Many Americans want to retire outside of the continental U.S. There are numerous reasons for this, including getting to experience a new culture, moving to a warmer climate or — if they are continuing to work during the traditional retirement years — getting a tax break.
For those who plan to work in retirement, Grant Cardone, private equity fund manager and real estate investor, recommends these two places.
Puerto Rico
Warm weather and no federal income tax make Puerto Rico a wise choice for those who will still be producing income when they hit retirement age.
“If I could live in Puerto Rico for 180 days of the year, I have to pay no federal taxes,” said Cardone, who will be hosting his 2023 Real Estate Summit on Dec. 16-18. He told GOBankingRates, “I’m not going to do that because I’ve got massive headquarters here, I’ve got a big footprint in America. But if you were a crypto entrepreneur or you’re a real estate investor and you’re spending all your time in Puerto Rico, you can literally save 40% [that you don’t have to pay in taxes]. If you make $1 million a year, you could be devoid of federal taxes.”
United Arab Emirates
For those looking to move a bit farther away, Cardone recommends Dubai or Abu Dhabi.
“So many people like Dubai and Abu Dhabi right now, and all the other Middle Eastern countries, for the taxes,” he said. “I can live in Abu Dhabi and pay no taxes there.”
The climate is a bonus.
“If you’re getting old, you want it to be dry,” Cardone said. “You don’t want it to be cold and wet.”
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