https://www.wsj.com/personal-finance/retirement/middle-class-americans-abroad-d5d018f6
Financial advisers say they have seen a surge in interest in residency abroad among clients looking to cut costs or change lifestyle
Amid rising costs and increased workplace flexibility, more middle-income Americans are exploring living options that were once seen as the exclusive domain of the ultrawealthy: residency abroad.
These aren’t the high-cost “golden passports” of Malta or Caribbean nations such as St. Kitts and Nevis or Antigua and Barbuda, financial advisers say. They are long-term residency permits designed for ordinary professionals and others who want to stretch their dollars, lower their taxes or simply live better overseas.
While estimates on the number of Americans living abroad vary, the Defense Department’s Federal Voting Assistance Program pegged the figure at 4.4 million as of 2022, up 42% since 2010.
For many younger Americans, remote work has made living overseas possible long before retirement, Nomad Capitalist’s Henderson says.
The good news for middle-income Americans: Relocating abroad isn’t as expensive as it sounds and you don’t have to cut ties with the U.S.
“People ask, ‘Do I have to give up my U.S. citizenship?’ The truth is, most don’t need a passport—just a residence permit,” says Kuenzi. “They don’t realize you don’t need a $500,000 golden visa. For most Americans, a simple retirement or income-based visa is enough.”
In Portugal, for example, the country’s “D7 visa doesn’t require a huge investment—just proof of stable income, around $9,000 to $12,000 a year,” says Henderson. “It’s very Westernized, safe, and still popular among U.S. retirees and remote workers.”
Private healthcare in Portugal costs a fraction of U.S. premiums. Beachfront apartments in Panama rent for under $1,000 a month.
Likely COVID created the demand. Folks fled big cities to remote work. Then with increasing inflation thought;“Why stop at US border?”