How to retire overseas, plus credit freezes

In my last newsletter, I shared tips for anyone considering a move abroad during their retirement years. 

I also asked readers for their advice. I heard back from Jim Frey, who moved from Vancouver with his partner to Setubal, Portugal, in February. 

Frey says the “Bible” for understanding all that it takes to retire in Portugal is this Facebook group. (Programming note: The administrators are on holiday but plan to resume moderation in September.)

When I asked Frey why he chose Portugal, he emailed a list. Affordability is at the top, but some other reasons include healthcare, culture, food, safety as well as expat-friendly policies.

“Life is GRAND,” Frey says.

If you have not done it already, it is fun to fill out this Expatsi survey which suggests places to retire overseas. My list includes Switzerland, the Netherlands and Denmark.

Another day. Another data breach.

This time around, hackers may have gained access to the private information of millions of people from a background-check company called National Public Data. 

And while the details are murky, your Social Security numbers may have been leaked in the breach.

My husband, who froze his credit several years ago, urged the rest of our family members to freeze our credit. When you freeze your credit with the major credit bureaus (Equifax, Experian and TransUnion), it makes it tough to establish new credit accounts in your name but also helps prevent identity theft.

I’ve been dragging my feet because it seems like a royal pain, but after reading this, I think I will do it.

Have you frozen your credit? Let me know why or why not at onthemoney@thomsonreuters.com” rel=”noopener” style=”text-decoration: underline; color: #005da2;”>onthemoney@thomsonreuters.com.

Are utilities ready for a rate cute? Lower interest rates, possible upgrades to the U.S. energy grid and a voracious appetite for new energy amid a drive toward EVs, AI and sustainability add up to a compelling case for investors to look at utilities, according to Oppenheimer Asset Management’s John Stoltzfus.

Watch here.

Eagle eyes are on the U.S. Federal Reserve. REUTERS/Sarah Silbiger

Is the U.S. Federal Reserve telling us that they’re actually worried about the economy now? 

Federal Reserve Chair Jerome Powell said last week that the “time has come” to begin lowering interest rates – a more dovish message than many investors believed they would hear at the central bank’s annual conference in Jackson Hole, Wyoming. That process will likely begin next month, with a cut of 25 basis points at the Fed’s monetary policy meeting on Sept. 17-18.

Fun fact: History shows that stocks tend to perform far better when rate cuts come against a background of resilient growth instead of during a sharp economic slowdown. Since 1970, the S&P 500 has climbed an average of 18% one year after the first rate cut in non-recessionary periods, according to Evercore ISI strategists. In recession periods, the index climbed an average of just 2% a year following the first cut.

Are you worried about the economy or do you think it’s on the right track? What are the key factors shaping your thoughts?

I want to hear from you at onthemoney@thomsonreuters.com.

When working from home includes sunshine. REUTERS/Jonathan Ernst

I know I am lucky to work for a company that offers hybrid work options. In fact, I am currently writing this newsletter from a breezy porch on the Jersey Shore. 

It is nice to have flexibility – along with some extra family time and fresh air – for a change. 

There also is new proof that hybrid work can be a positive force for employees as well as companies: A research paper co-authored by Stanford University economist Nicholas Bloom, recently published in the journal Nature.

The study – the largest of its kind, looking at the effect of work-from-home policies – finds that the benefits are multiple: Productivity is not harmed, promotions and career advancement are not affected, and employee retention improves significantly.

“There may have been a stigma about remote work pre-pandemic, but I don’t think there’s a stigma anymore,” Bloom says. “Many big companies now typically have employees coming into the office three days a week. Hybrid seems to be where it’s at.”

Of course, there are potential pitfalls to working from home part-time. Here are four tips to make the most of hybrid work arrangements.

Do you need to refinance your mortgage? Are you in the market for a new car? Send your money questions to onthemoney@thomsonreuters.com, and I’ll tap my extensive source network and braintrust for expert advice.

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