By 2027, more than 4.1 million Americans will turn 65. At the same time, inflation, rising healthcare costs, and political uncertainty are reshaping how people think about aging. Retirement is no longer simply about reaching a certain age. It is increasingly about managing risk.

And for a growing number of Americans, Portugal sits at the center of that strategy.

Retirement as Strategy

In our research, The American Retirement Exodus 2025, we identify two distinct profiles driving outbound migration from the US:

Plan A: Retirees already living on Social Security who are seeking countries where their fixed income can stretch further.

Plan B: Future retirees who want to secure residency or citizenship abroad as protection against future economic, healthcare, or political instability.

Portugal appeals strongly to both groups. With EU access, a public healthcare system, relative political stability, and structured residency pathways, it offers both sustainability and optionality.

The Data Signals a Structural Shift

As of 2024, approximately 760,000 Americans receive Social Security benefits while living abroad. More than 463,000 of them receive retirement benefits. Just six years ago, that number was 423,000.

Seventeen percent of Americans over 55 say they are considering retiring abroad. In the 1970s, that number was just 4 percent.

This is not a lifestyle trend. It is a structural transformation.

The American Retirement Exodus 2025 - Download the white paper here

Why Is American Retirement Exodus Now Under the Spotlight?

Since 2014, Get Golden Visa has guided thousands of investors from more than 47 nationalities in their global investment migration journey from start to finish. This expertise of the Get Golden Visa team has helped them keep up with the latest key immigration trends. One of them is the rising number of Americans leaving the US and settling for Plan B.

Following this insight, after the Great American Exodus reports published in 2022 and 2024, the research team at Get Golden Visa has delved deeper to uncover the reasons why American retirees are leaving the US or planning to do so in the future.

To get real-life stories and key factors shaping this trend.

Nancy’s Plan B: Portugal as Insurance

Nancy and her husband began evaluating Portugal in late 2021. They continue to live in the US, but wanted what she describes as a Plan B.

Nancy is a Get Golden Visa client who secured Portuguese residency through the Golden Visa program.

Their primary motivation was not cost of living. It was long term stability. Watching increasing polarization and uncertainty in the US, they wanted an alternative if conditions deteriorated.

They considered Canada and Ireland, but Portugal stood out as more accessible and administratively achievable.

For Nancy, the investment was not about maximizing yield. One of the funds underperformed expectations. But what the investment provided was optionality.

"Having a Plan B lowers stress," she says. "Knowing there is somewhere stable we can go if necessary makes a real difference."

This mindset is increasingly common among Americans between 45 and 60. Migration is no longer a reaction to a crisis. It is proactive risk management.

Research Note

A deeper analysis of the demographic data, Golden Visa inquiry patterns, and the Plan A and Plan B segmentation can be found in our report:

Retirement Is Becoming Global Insurance

For many Americans, retirement planning now includes:

● Healthcare access outside employer-based insurance

● Social Security portability

● Geographic and legal diversification

● Long-term political and economic stability

Portugal’s combination of EU access, healthcare infrastructure, lifestyle appeal, and established residency programs places it at the center of this evolving strategy.

Retirement abroad is no longer about escape. It is about security.

And increasingly, Americans are building that security before they need it.

About Get Golden Visa & Get Properties: How Can They Help You?

As an investment migration advisory firm, Get Golden Visa helps investors around the world access the best residency and citizenship-by-investment programs that suit their investment profile. Since 2014, they have served as an independent advisory firm, offering investors transparent, tailored solutions to help them to curate the best global mobility plan.

In the meantime, with their real estate advisory arm, Get Properties, they provide real estate investment solutions for lifestyle purposes as a buyer’s agent while both identifying and managing the property assets after sale.

This collaboration of Get Golden Visa & Get Properties offers the best solutions for many investors seeking an international capital strategy and global mobility.