For decades, retirement in America followed a familiar script. You worked, you waited, and at a certain age, you stopped. Where you would live, how you would access healthcare, and what your cost of living would look like were often afterthoughts.
That script no longer works.
By 2027, more than 4.1 million Americans will turn 65¹. As the number of people reaching retirement age grows at the fastest pace in history, retirement planning has moved earlier. And as the retiree population expands, so does anxiety about whether savings will be sufficient to last through retirement.
At the same time, the retirement gap is widening. The distance between expected retirement expenses and projected retirement income continues to grow. People are living longer and want to maintain their standard of living, yet inflation and traditional retirement costs, especially healthcare, are rising rapidly.
As a result, more Americans are beginning to treat retirement not as a milestone, but as a strategy. And increasingly, that strategy includes looking beyond US borders.
What You Will Find in This Article?
The New Face of Retirement Migration
When we examine the demographic profile of Americans relocating abroad in 2025, retirees stand out as one of the most visible and fastest-growing groups. This is no longer a movement limited to lower-income individuals or a small group of adventurers. Middle- and upper-income Americans, firmly embedded in the economic and social mainstream, are now actively planning life outside the US.
In our research, The American Retirement Exodus, we identify two distinct yet interconnected profiles shaping this transformation: Plan A and Plan B. Together, they show that retirement migration is not an impulsive reaction, but a long-term and systematic approach to aging.
Plan A: Today’s Retirees (61+)
Plan A consists of individuals who have already entered retirement, receive Social Security income, and are searching for countries where that income supports a more sustainable lifestyle.
Their motivations are immediate and practical. Rising living costs in the US, increasing healthcare expenses, and concerns about long-term financial stability are making life on fixed income increasingly difficult. In contrast, countries offering lower costs, reliable healthcare systems, and a calmer pace of life are becoming highly attractive.
For many, the math is straightforward. An average monthly Social Security benefit of around $1,976 often falls short in many US states, while in best countries to move out of the US like Portugal, Mexico, or Thailand, it can still support a comfortable and dignified life.
Healthcare frequently acts as the trigger. But increasingly, the final decision is driven by something broader: long-term sustainability and security.
Plan B: Future Retirees (45–60)
Plan B includes individuals who are still actively working, but no longer confident that waiting until retirement age will be enough.
This group typically has financial flexibility and the ability to invest early. Rather than reacting later, they are creating options now. Their strategy is to secure residency or citizenship abroad before retirement, effectively insuring themselves against future risks.
For Plan B, migration is not an urgent necessity. It is a contingency plan. The mindset is not “I have to leave,” but “If conditions change, I want to be ready.”
A Real Case Analysis: Nancy’s Decision to Build a Plan B in Portugal
Nancy embodies this shift.
In late 2021, Nancy and her husband began evaluating Portugal while continuing to live in the US. Their primary motivation was not cost of living, but long-term institutional and political uncertainty. Watching increasing polarization and volatility, they wanted an alternative in place should conditions deteriorate.
Nancy became a Get Golden Visa client and secured Portuguese residency through the Golden Visa program. Canada and Ireland were briefly considered, but Portugal stood out as more accessible and administratively achievable.
Importantly, the investment was not treated as a yield-driven decision. One of the funds underperformed expectations. Yet for Nancy, the true value was optionality.
“Having a Plan B is reassuring,” she explains. “It lowers stress knowing there is somewhere stable we can go if we need to.”
Her perspective reflects a broader pattern among Americans in their late 40s and 50s. Migration is no longer reactive. It is structured risk management.
This distinction matters. It shows that retirement planning is moving earlier and becoming more proactive, strategic, and global.
Not a Temporary Trend, but a Structural Shift
The data makes it clear that this is not a short-term phenomenon.
According to the US Social Security Administration, as of 2024, approximately 760,000 Americans are receiving Social Security benefits while living abroad, with more than 463,000 receiving retirement benefits specifically. Just six years ago, this number stood at 423,000. The sharp acceleration since 2023 points to a structural demographic transformation rather than temporary mobility.
Surveys confirm this trend of retirement without borders. A Monmouth University study shows that 17 percent of Americans over 55 are considering retiring abroad, compared to just 4 percent in the 1970s. Get Golden Visa application data aligns with this finding: a significant share of 2024–2025 inquiries comes from either current retirees aged 60+ or Plan B individuals aged 45–55.
| Age Group | Percentage (%) |
|---|---|
| 18–24 | 1% |
| 25–34 | 13% |
| 35–44 | 21% |
| 45–54 | 20% |
| 55–64 | 19% |
| 65 and older | 23% |
| Total | 97%* |
Retirement Becomes a Systematic Aging Plan
What distinguishes this movement is its scope.
For Americans relocating abroad, retirement is no longer simply about where to live. It now means building a comprehensive aging plan that simultaneously secures healthcare access, long-term financial sustainability, physical safety, and social stability.
Passive income structures, Social Security portability, and countries offering strong healthcare systems are becoming central to retirement planning.
Client conversations consistently show that while politics can act as a trigger, it is rarely the sole driver. Personal safety, healthcare costs, education quality for children and grandchildren, and the desire for international experience are also key factors.
According to 2025 surveys, 76 percent of Americans believe democracy is under threat, and 73 percent view political violence as a systemic issue. These perceptions reinforce the idea that retirement planning is no longer purely economic, but increasingly tied to security.
Nancy’s decision illustrates this layered approach. Financial considerations were part of the equation, but predictability, institutional stability, and psychological security were equally important. The objective was not immediate relocation. It was ensuring that relocation would be possible if necessary.
Why Now?
The Plan A and Plan B framework offers a powerful lens for understanding today’s retirement migration.
Plan A reflects today’s retirees seeking sustainability with existing income. Plan B reflects a forward-looking, insurance-based strategy focused on preserving options before risks materialize.
What unites both groups is a shared search for a safer, more predictable, and more sustainable future. As a result, migration is no longer simply an individual preference. It is becoming a collective response to economic, political, and social uncertainty.
We explore this transformation in depth in The American Retirement Exodus, where we examine retirement not as an endpoint, but as a strategic decision shaped by timing, mobility, and long-term security.
¹ Source: ‘Protected Retirement Income and Planning (PRIP)’, the Research of Alliance for Lifetime Income
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