Our Retirement System is Broken — See What Some Seniors Are Doing Instead

Years ago, American workers wanted to retire and move to the Sunshine State. That’s no longer the case. Rising costs are making that American Dream a thing of the past. According to a feature by CNN Business, many seniors are now choosing to retire abroad, wooed by a lower cost of living and affordable health care.

While there are certain problems that come with being a retired ex-pat, such as visa restrictions that could limit how often you can return to the States, the benefits are plentiful — and that has many seniors seriously considering retiring to places like Portugal or Mexico. According to the article, “the number of Americans looking to settle outside of the country has tripled over the past 30 years,” and with almost half of non-retired adults fearing they won’t have enough money to live comfortably during retirement, the number of Americans retiring abroad will surely keep increasing.

This is proof that we need a stronger Social Security system — one that protects all retired workers.  The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees a fair annual cost-of-living adjustment (COLA), an immediate benefits increase of about $200 a month, and increased minimum benefits. It will also ensure the long-term solvency of the Social Security program.