How to Renounce Your US Citizenship: Part 2 (+ YouTube Drama)

In Part 2 of How to Renounce Your US Citizenship, Kristin and special guest, Erika Lind, talk about the pros and cons of renouncing your citizenship and why Erika decided to break up with the US for good. She gives you a detailed look into the process of renouncing your US citizenship and gives valuable advice for people thinking about doing the same. Although Erika has been living in Vancouver, Canada for the past five years, she explains why she went to Mexico to speed up the renunciation process. She also shares her honest opinions on American society and government, and sheds light on what life is like after renouncing her citizenship. Finally, Kristin and Erika discuss what happens to regarding taxes, collecting social security, and more.  Have you ever considered renouncing your citizenship or are you curious about the process? Tune in to get all the information you’d need to make an informed decision. Who knows, maybe it's the right choice for you!   ► Headed overseas? 🌍  Check out Kristin's favorite: ↳ Travel Medical Insurance ↳ Global Health Insurance ↳ Online Bank Account   EPISODE 115 TOPICS DISCUSSED: The pros and cons of renouncing US citizenship The process of renouncing step by step Logistics of renouncing US citizenship: The required documents and information needed to renounce. How long it takes to renounce your citizenship How much it costs: fees and exit taxes What happens to your retirement and social security? What it’s like to travel to the US after renouncing your citizenship. How Erika's political and societal values shaped her decision to renounce. Why it’s so difficult to pay US taxes while living in another country. Pros and cons of having passports from multiple countries.    QUESTIONS ANSWERED: How difficult is it to renounce your citizenship? Why not keep both your US and Canadian citizenship? Did you consult accountants, lawyers, or any other professionals during the process? How much does it cost to renounce your citizenship, including exit tax and application fees? How long does the process take? How did your friends and family react to your decision? Do you think you’ll ever regret renouncing your citizenship? What was it like solo traveling to Mexico to renounce during COVID?   RESOURCES Related Videos: Watch the video version of this interview EXPAT EXPLAINS: Americans Abroad on Paying Taxes and Renouncing Citizenship (Greenback Tax Survey) 8 Reasons Why People LEAVE Costa Rica [Why I Left] Living in Japan as an American Abroad (what it’s like)   Related Podcasts: How to Renounce Your US Citizenship Part 1: Moving to Canada How U.S. Expats Feel About Paying Taxes Abroad and Renouncing Citizenship The Shocking Truth About How US Expats Vote Inside the Real Bangkok, Thailand with Erick Prince, The Minority Nomad (Part 1) Inside the Real Bangkok, Thailand with Erick Prince, The Minority Nomad (Part 2) Other Resources: IRS Website IRS Expatriation Tax   IRS Renouncing US citizenship  Nomad Capitalist on renouncing citizenship  Retaining social security benefits after renouncing  Republicans Overseas Democrats Abroad Connect with Kristin:  Follow on Instagram Subscribe to Traveling with Kristin on YouTube  Subscribe to Digital Nomad TV on YouTube Follow on Medium Follow on Clubhouse @KristinWilson Join the Badass Digital Nomads Facebook Group ........................................................................................... Support the Badass Digital Nomads Podcast: Buy Me a Coffee Become a Patron Leave a 5* Review Buy Official Merch  Search All Episodes at www.badassdigitalnomads.com ........................................................................................... Thank you to my 2021 Patrons: Teklordz, Trader Walt, Shawn, Gary, Gary R, Yozhik, Bronwyn, Cynthia, Erick, Yasmine, Mike, Isaac, Michael, Scott, Karen, Erik, Heather, Craig, RZ, Timothy, Richard, Fred, Lakshay, Yohji, Annie, Ray, Ron, Henry, Kelly, Alejandra, Keith, Stephen, Eddy, Warren, James, Javier, and Daniel.  Warm welcome to my newest patrons: Rich, Emily, Aisha, and Phil! Become a Patron for $5/month at Patreon.com/travelingwithkristin ........................................................................................... Podcast descriptions may contain affiliate links of products and services we use and recommend at no additional cost to you.