What is the Retirement Revolt?
Nearly 450,000 received beneifts outside the US at the end of 2021, up from 307,000 in 2008, the Wall Street Journal cites the Social Security Administration.
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Welcome to The Retirement Revolt Substack – the premium blog dedicated to helping you understand the issues impacting your retirement security so you can be better prepared for the “golden years!”
What is the Retirement Revolt?
I reject the conventional wisdom of a US-based retirement that the financial industry seems to have planned for you and me.
I already know I can’t retire in the US; anyway, it’s not even desirable.
That’s a recurring theme throughout the article you’ll find on the Retirement Revolt Substack.
Now, to the main issue—retirement security is people's #1 financial issue, even surpassing owning their own homes.
The era of gold-plated pension plans is long gone, replaced by worries over Social Security’s eventual insolvency and a swath of under-invested Americans outliving whatever nest eggs they might have cobbled together because of the Do-It-Yourself US retirement scheme.
Are you prepared with the information and insights you need to create predictable income for the length of your retirement?
As the leader of the Retirement Revolt, I’m a rebel with a cause—a cause that defies the conventional wisdom of the “retirement industry.”
I won’t reach a million dollars in a retirement nest egg – I already know that.
I started late in the game. That’s on me.
But I will still live a dignified, fun time in my golden years abroad.
These 4 tenets underpin the Retirement Revolt Philosophy.
Perhaps you’re already abiding by some of these principles right now.
4 Tenets
Are you ready?
1. US-based retirement is a fantasy (costly and not desirable).
I will not be able to afford a US-based retirement unless I win the lottery tomorrow.
By most calculators for estimating my cash haul in the later years, I will be significantly underfunded at my current trajectory.
For example, using the Vanguard Retirement calculator, the result of the number crunching is:
Based on the information you provided, when you retire at age 70, you may have a retirement savings balance of $155,700 (in today's dollars). Your estimated monthly expenses are $2,938, and you could expect a monthly income of $519 in retirement.
Oh my! That bilge also assumes Social Security, a wild-eyed conjecture at this date.
Thankfully, there are options outside US borders.
Despite living longer and having more time to make cash, I still won't be able to retire comfortably in the US.
Therefore, I must cast my eyes abroad.
I taught English for a decade in Latin America in three countries: Colombia, Argentina, and Brazil.
I speak Spanish fluently and can manage Portuguese.
Naturally, I favor a Latin American retirement destination where the standard of living is decent and the dollar – at least for now – is king.
At least for now, I have a starting place where I want to spend my later years given the financial realities I face and wholeheartedly accept.
2. The US government’s financial picture is dimming.
Covid-19 casts a dark shadow over US finances from the national to personal level.
Officially, the US National Debt is around $34.5 trillion – 34,000 billion dollars – 34,000,000,000,000.
Some argue the national debt is even larger.
The deficit increases significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054.
The Reuters news agency reported in October 2024:
The U.S. budget deficit grew to $1.833 trillion for fiscal 2024, the highest outside of the COVID era, as interest on the federal debt exceeded $1 trillion…
Translation: The national debt – the total for all federal spending will exceed the US GDP – for now, the largest economy on earth!
This could slow economic growth and pinch efforts to fund other vital government services.
3. Toxic social, economic, and political scenario in the U.S.
After I returned to the US in 2017 from teaching English in Latin America for ten years, the country had irretrievably changed.
I sensed as such by keeping up with US affairs from afar and sometimes chuckling at how the international press wrongly reported events back home.
Now, almost seven years back, there has been a palpable deterioration of the social fabric in the US.
I’m really over the current trajectory of a country I once knew.
With another nasty election on tap in November 2024, meh – I’m over it already.
There is so much more to life, I’ve experienced it, and want to live in tranquility going forward and that means outside US borders.
4. I’m more comfortable living outside the US.
So, my eyes gaze abroad for the best opportunity to live in tranquility.
After all, retirement need not be a sunset—it can be a sunrise, blazing with possibilities.
Perhaps I will start my own company to teach English.
I already speak Spanish fluently.
That definitely makes an international retirement more doable.
What are your retirement plans of right now, today?
Let me know on the Facebook page -
Conclusion
Have you thought about retiring abroad?
Nearly 450,000 received beneifts outside the US at the end of 2021, up from 307,000 in 2008, the Wall Street Journal cites the Social Security Administration.
Evidently, the idea is appealing to more every day.
Retirement planning is a very personal journey.
Are you ready?
I invite you to join me in this adventure.
You’ve worked hard for your money.
The decisions you make leading up to retirement are critical to your success, and most decisions are interlaced with your income, investment, and tax strategies.
Now, you have a partner on your side to help.
Gain knowledge and educational insights to help you learn more about the US and global economy as you fortify your retirement security.
To access my Substack, you need to subscribe, but don’t worry—the freely available information right now is packed with food for thought as you organize your finances and build a bucket list of goals for your golden years.
Simply visit – https://bit.ly/rrbsubscribe – to subscribe to the Substack now so you don’t many any of the need-to-know information coming your way.
I look forward to getting to know your retirement plans.
And remember – it’s never too late to start saving and investing for a brighter tomorrow.
Don’t forget to leave a comment or suggestion on our Facebook page at https://www.facebook.com/genxeretire
I remind you to be sure you do your due diligence before making any decision to live abroad and consider all factors before making a final determination.
Please consult your financial and/or tax advisor before making any financial or investment decisions.
I’m Winn, your beloved leader of the Retirement Revolt!