Member-only story
Here’s what millions of U.S. retirees, including myself, are doing . . . .
According to the World Population Review, over 10 million Americans live offshore. Many of these ex-pats are freelancers.
According to the U.S. Census Bureau’s Survey of Income and Program Participation (SIPP), 49% of adults between the ages of 55 and 66 had no personal retirement savings.
The data also says that 12% of men and 15% of women aged 65 and older rely on Social Security for 90% or more of their income.
Let’s say you’re 65 and set to retire in a few months. You don’t have any retirement savings, but you’ll receive a monthly Social Security check of $1,900 — just slightly more than the $1,800 monthly average for retired workers as of June 2024.
Yes, hundreds of thousands of us live these statistics, and here’s what many of us have done.
We have moved offshore, where the cost of living is much cheaper.
Are we happy?
Most of us are happy. It depends on your expectations and your ability to adjust. I work online, creating freelance opportunities for myself. Because I travel while I work, I am considered a digital nomad!
Do we miss our home country?
