Tips for Canadians Retiring in the US | CanAm Currency Exchange
Retiring in the US

Tips for Canadians Retiring in the US

At some point in our lives, we dream of making the sea-change. Moving from somewhere cold to somewhere warm, from the mountains to the ocean. And for many Canadians, that means making a simple hop across the border so we can live out our golden years or retire in the US. Still close enough to home that we don’t miss it as much, but far enough that we get the change we’re seeking in our later years.

If you’re considering retiring in the US, there are a few things you need to consider.

Visas and Green Cards

Back in the 1970s, it was simple to get a green card into the US for retirees. All you had to do was ask. Today though, the process is a little more complicated. If you want to move to the US to retire permanently, you need to either get a green card, or become a permanent resident. If a family member lives in the US, they could sponsor you. But this isn’t always feasible. 

Another way you can go to the US is if you have enough savings and net worth to make an investment in the US (usually between $500K and $1 million) – which can allow you to acquire an investor visa, which lasts about five years. And the other way, is to become a permanent resident, which means you’re no longer a citizen of Canada and have to relinquish all rights as such.

One of the most popular options is known as the “snowbird” method, whereby you spend six months in the US and six months in Canada. This allows your health care and taxes to stay the same (with Canada) – and you get the best of both worlds.

Health Care

If you’re moving to the US as a snowbird, dual health care coverage is not only imperative – but it makes life easy. If you have a pre-existing condition, Obamacare allows you to still receive adequate health care coverage for your time in the US; while your usual Canadian health care will cover you for the time you spend back home.


When you retire in the US, one of the biggest benefits is the tax benefits. Withdrawing your Canadian dollars from your retirement account is actually tax-free. You can also still collect your CPP pension when you’re living in the US as its based on your work history, not where you choose to live after retirement.

Currency & Investment

It’s important when you move to another country that you have your finances in order. CanAm Currency Exchange can help you get the best rates when you transfer your funds from Candadian dollars into US. We’ll ensure you get more bang for your buck – so that you can live the stress-free, retired life you dream of. If you want to know more about investments as well, we can help.

If you’re considering the move and retire in the US, we’re sorry to see you go! But we’re here to help make the transition smooth for you. Get in touch with our team today and happy retirement!

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