About 15% of American workers want to retire abroad, according to Dutch life insurance company Aegon’s latest “Retirement Readiness Survey.”
Some retirees are already doing it: As of 2021, around 444,000 retired workers collected Social Security benefits while living in a foreign country, according to the Social Security Administration’s latest data.
“One of the main draws to retiring abroad is the opportunity to enjoy a higher standard of living,” says Jesse Little, senior director of advice for Wells Fargo wealth and investment management.
“The U.S. dollar is relatively strong compared to many other currencies, which allows U.S. retirees in those countries to stretch their money further,” he adds.
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