Summary
Faced with inflation, taxes and concerns over the size of Social Security benefits, most Americans are more afraid of going broke in retirement than they are of death.
In total, 64% of respondents across generations said they are more stressed about running out of funds in their golden years than the prospect of death.
Americans say they need $1.26 million to finance a comfortable retirement, yet the median amount saved is $87,000. “Certainly for boomers…inflation is a big deal.”
If I were you, I would just move out and retire in a country where your money goes farther.
People say that, but it’s much easier said than done. You can’t just decide to move to a country and go. Like the US, you have to apply. Many want proof that you have a useful skill. In some cases the application is expensive.
Also, we have kids and family. If I had to give up seeing them easily to live, I guess I would, but that thought is stressful too.
Mexico will let you become a permanent resident if you can show that you have about $300,000 in savings or investments. Because of that, there are retirement communities being built in Mexico for American retirees.
It isn’t that much different moving to the Yucatan than it is moving to Florida except the cost.
I get it because family is important. That is what keeps me here as well.