American “Economic Refugees” Are Increasingly Retiring Abroad
September 21st, 2019Via: CBS News:
The number of retirees who draw Social Security outside the U.S. jumped 40%, to more than 413,000, between 2007 to 2017, according to the Social Security Administration.
To be sure, that’s a fraction of the nation’s 42 million retirees. But it reflects the financial realities for a growing number of baby boomers who are hitting 65 without enough money stashed away to maintain their standard of living.
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“Being an economic refugee is going to be more and more popular as things get weirder and more expensive in the U.S.,” Prescher predicted. “You should move abroad because you want to try a foreign culture. The economic benefit is icing on the cake.”
