An increasing number of Americans are opting to spend their retirement years abroad for various reasons such as a change of scenery, better weather, new experiences, and lower living costs. According to Next Avenue, over 440,000 Americans are currently receiving Social Security retirement benefits outside the United States.
While cost of living is often a crucial factor in choosing a retirement destination, for those who are financially comfortable, the primary considerations become the country's safety and standard of living. This trend of Americans moving overseas is on the rise, with a 447% increase in U.S. citizen enquiries recorded by Henley & Partners in 2022, and the USA Wealth Report projecting a record-breaking year in 2023, with 125,000 millionaires migrating internationally.
Some of the top retirement destinations for 2023 include Portugal, which ranks first in International Living's Annual Global Retirement Index for its bustling cities, rich history, and safe environment, despite suspending its golden visa program as of March 2023. Greece ranks seventh in the same index and offers a golden visa program for real estate investment, with a $250,000 minimum investment requirement that is set to increase in May 2023.
The Bahamas is appealing for its beautiful beaches and proximity to the U.S., with a golden visa program requiring a minimum real estate investment of $500,000. Thailand is another popular retirement destination for its affordability, high standard of living, and availability of long-term visas for people over 50, subject to certain financial requirements.
While cost of living is often a crucial factor in choosing a retirement destination, for those who are financially comfortable, the primary considerations become the country's safety and standard of living. This trend of Americans moving overseas is on the rise, with a 447% increase in U.S. citizen enquiries recorded by Henley & Partners in 2022, and the USA Wealth Report projecting a record-breaking year in 2023, with 125,000 millionaires migrating internationally.
Some of the top retirement destinations for 2023 include Portugal, which ranks first in International Living's Annual Global Retirement Index for its bustling cities, rich history, and safe environment, despite suspending its golden visa program as of March 2023. Greece ranks seventh in the same index and offers a golden visa program for real estate investment, with a $250,000 minimum investment requirement that is set to increase in May 2023.
The Bahamas is appealing for its beautiful beaches and proximity to the U.S., with a golden visa program requiring a minimum real estate investment of $500,000. Thailand is another popular retirement destination for its affordability, high standard of living, and availability of long-term visas for people over 50, subject to certain financial requirements.
