Based on the most recent data from the US Social Security Administration (SSA), approximately 15,465 American retirees currently receive their Social Security benefits while living in Italy. This highlights a significant shift in the “Americans Moving Abroad trend”, underscoring that it is not only families and younger professionals who leave the US for better opportunities, but also retirees and pre-retirees plan for retirement overseas.
Following this trend, the Get Golden Visa Research team has developed the American Retirement Exodus Report as part of the American Exodus Series, which was first launched in 2022 to gather insights into who is leaving and why. One of the key findings of this report is that Americans tend to prefer “La Dolce Vita” for retirement overseas, which offers them a stable and secure second chapter in their life.
American Retirees Looking for Retirement Overseas
Around 5.5 million American lives abroad, and almost 1 in 4 are retired, according to Get Golden Visa’s American Retirement Exodus Report. This increasing number of American retirees seeking safe havens abroad is not just because other countries offer the best lifestyle options. It is also because some push factors drive them away from the US.
Many American retirees’ decision to leave the US is significantly shaped by rising living costs and healthcare expenses. Accordingly, it was once suggested that $1.28 million in savings would be enough to retire comfortably. However, this situation no longer protects its validity. As a result, 81% worry their savings will not last throughout retirement nowadays.
In parallel, the trust in the US healthcare system has declined significantly. Many Americans now question whether their medical needs will be adequately supported in the long term. The factors contributing to this growing anxiety are:
- Rising costs,
- Complex insurance structures,
- uncertainty around the sustainability of public programs such as Medicare and Medicaid
Against these push factors, Americans are looking for alternative destinations where living costs are more manageable, and healthcare systems are both accessible and reliable. In this context, Italy has increasingly emerged as a favorable option for many. Americans retiring in Italy see that there is a high quality of life, a well-developed public healthcare system, and lower living expenses.
Retiring in Italy from USA: Italy Becoming the 4th Most Popular Retirement Destination in Europe
Italy is the fourth most popular retirement destination in Europe for US citizens, according to SSA data. What makes this country special for American retirees is not just its cultural appeal but also its combination of lifestyle, accessibility, special flat-tax regimes, and residency pathways.
Previously, Spain had long been a preferred destination for lifestyle relocators from the United States. However, recent policy changes have reduced its appeal. The closure of Spain’s Golden Visa program and proposals such as a 100% real estate tax on non-EU property buyers have introduced uncertainty for potential foreign residents.
As a result, many Americans seeking retirement destinations in Europe are now turning their attention to Italy for its streamlined residency options. In this respect, one program gaining particular attention among Americans is the Italian Golden Visa, which allows foreign investors to obtain residency in exchange for qualifying investments in the Italian economy, without the need to relocate there full-time.
Murat Coskun, Managing Partner at Get Golden Visa, explains why the program has recently gained momentum among American investors:
“Italy’s Golden Visa is gaining attention because it offers a clear investment pathway to residency while allowing investors to establish a foothold in Europe before making a relocation decision.”
For many American retirees, this pathway provides flexibility. Rather than committing immediately to a permanent move through Italy’s Elective Residence Visa, today’s and future retirees in America can first secure residency rights and later decide whether to relocate permanently after retirement.
A Growing Desire for Stability: Where to Relocate Next?
Since 2022, Get Golden Visa has observed a rising trend of Americans relocating abroad. With experience supporting investors from 47 nationalities across 16 residency and citizenship by investment programs, we first noticed this shift in changes in investor behavior and inquiries within the investment migration industry. As a result, we began to closely examine the evolving dynamics behind this trend.
Through our American Exodus Series, our team conducts ongoing research into the motivations for migration and the investment migration patterns driving this trend. In response to this, the 2025 edition of this series focuses solely on Americans retiring overseas.
Italy has emerged as a key destination in this context. It has a combination of healthcare accessibility, cultural richness, Mediterranean climate, and comparatively moderate living costs. This makes it particularly appealing to US retirees seeking stability and quality of life.
For many Americans, relocating abroad is no longer simply about seeking a picturesque retirement destination. Instead, it is increasingly viewed as a strategic lifestyle decision aimed at securing a safe and long term plan B for the future.
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