Polls and statistics show that interest in retirement in Europe is surging as more Americans look abroad for affordability, stability, and a higher quality of life. European destinations such as Portugal, Italy, Greece, Spain and France tick many boxes, offering the possibility of lower living expenses, strong public healthcare, and accessible residency pathways. Notably, they sometimes have tax-friendly infrastructure and are politically stable amid huge geopolitical uncertainty.

More American retirees are considering moving to Europe. Polling fromMonmouth University and Gallupshows that the percentage of people aged 55 and older who want to leave the country is now 17%, more than four times the level in 1974.

The figure has really accelerated since 2017, though, driven in a large part by cost—to live a better quality of life at a lower cost and to have access to affordable healthcare and housing in later years.

TakePortugal, for example. The cost of living per month for a single person, excluding rent, is around $592, whereas in the U.S. it is around $1,166. Rent in Portugal is about 40-50% cheaper than the average rent across America. InItaly, the cost of living is nearly 27% lower than the U.S. average. In both cases, American retirees can build a high-quality of life close to the Mediterranean coast, culture and climate.

In addition, many European countries have double taxation treaties with the U.S. (Portugal, Italy and Greece, for example), which help avoid being taxed on the same income twice.

With increased geopolitical instability, Americans are also increasingly seeking aPlan Bfor their finances and residency, somewhere else to invest and move to. Countries can change their rules quickly—think Brexit, when all British people lost their European identity and the right to live, travel and work freely in all EU member states—so it can be helpful to have backup plans.

AsBloombergadds, taxes can change the situation quickly. In 2018, France abolished its wealth tax, and Spain added one of its own a bit later. Americans are also taxed regardless of where they live, which can make things more complicated than for other nationalities. Having the right to live and work in different places can mitigate this risk.

Zaid Aldayriyeh, founder of Citizenship Bay, a citizenship consultancy, adds that golden visa programs can also offer financial returns beyond the residency rights they confer.

In Portugal, for example, investment funds have historically offered estimated returns of 4% to 12%. In Greece, real estate investments can yield around 3% to 4%, while in Italy, investments in qualifying companies may also generate returns in the 3% to 4% range.

Because golden visa programs in Europe do not require full-time residency or immediate relocation, they allow Americans to transition to Europe on their own terms.

Source: Drudge Report