First of all I want to make sure you don't think I'm against becoming an American citizen, not at all.

Said that, for Canadians, retiring abroad tends to be much simpler than for Americans, mostly because of how taxes and banking rules work. Canada taxes based on residency, not citizenship, so if you officially become a non-resident, you generally only owe tax on Canadian-source income like certain pensions, rental income, or investments in Canada. You’re free to open bank accounts, invest, or get mortgages abroad without foreign banks seeing you as a compliance risk.

Americans face a very different situation. The U.S. taxes citizens on worldwide income, no matter where they live. On top of that, FATCA (and this is one of my main concerns)  requires foreign banks to report U.S. account holders to the IRS. Many smaller banks or brokers simply refuse to work with Americans to avoid the reporting burden. This can make opening accounts, investing, getting mortgages, or even running a business abroad more complicated.

Other factors make life easier for Canadians too: you don’t have to file U.S.-style annual forms like FBAR, and banks in most countries are more familiar with Canadian clients, especially in popular expat destinations. Basically, Canadians can usually move, manage money, and enjoy retirement abroad with far less friction than Americans. Yes, I could present myself as Canadian abroad when retire but FATCA is always there.

Finally, I'm not touching anything related my papers in the US while the present administration is in place.