More and more baby boomers are taking their retirements overseas, report experts at InternationalLiving.com, who say they’re seeing a significant increase in demand for their research and services. Today more than half-a-million retirees receive their Social Security benefits abroad. According to International Living editor Dan Prescher, that likely under-represents the actual number of Americans retired overseas.
“While the U.S. Social Security Administration reports the number of benefit payouts it sends abroad has grown over the last decade to more than 600,000 today, we know anecdotally that many retirees overseas choose to continue banking domestically in the States. And so their Social Security checks are deposited into their hometown banks, even as they spend part or all of the year overseas.”
The U.S. Social Security Administration reports that in June 2014, it sent 613,650 retirement-benefit payments outside the U.S. That number has ticked up roughly two-and-a-half times from the 242,128 benefit payments sent abroad in 2002.
InternationalLiving.com experts report a parallel uptick in demand for their research and services, which helps Americans (and Canadians) retire affordably in Latin America, Europe, Asia, and beyond.
Evidence of this increased interest can be seen in the increase in paid subscriptions to the International Living monthly magazine, for instance – from 39,0000 paid subscribers in 2009 to 100,000 today.
The numbers attending International Living’s live events have ticked up significantly as well. Take the organization’s annual Fast Track Your Retirement Overseas Conference. In 2009, 300 people attended this event held annually in Las Vegas. In 2013, the attendee number rose to 800 and International Living expects that number to rise again for this year’s conference, set for October 2-4, 2014.
“We created this program as a forum for folks to explore in-person this idea of retiring better for less overseas,” says Prescher. “It’s the one time each year when we bring all of our editors and experts from around the world to the States under one roof. And they essentially run the attendees through the pluses – and minuses – of destinations as far-flung as Costa Rica and Malaysia, Belize and France, Ecuador and Thailand.”
“It’s a chance for people to ask questions and explore their best options in-depth with experts who know these places inside and out,” Prescher says. “In my view, attendees pick up more on-the-ground intelligence over these two-and-a-half days than they could in a year spent researching on their own.”
Registration remains open for International Living’s Fast Track Your Retirement Overseas Conference 2014. For details about this event, see here.
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For more than 30 years, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.