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Middle-Class Americans Move Overseas To Stretch Their Incomes
And away we go // Illustration by Kate Walker
An increasing number of Americans are moving overseas in search of a middle-class lifestyle they can’t afford in the States.
Why It Hurts: The US is in the midst of an “affordability crisis,” reshaping the economy, politics, and entertainment. As owning a home, maintaining stable finances, and raising a family seem increasingly out of reach, the lower cost of living in other countries is becoming more appealing. That could transform what it means to realize the American dream.
Behind The Moves: Packing up may be the best way to get ahead.
While the wealthy often secure “golden passports” that let them live anywhere with ease, middle-income Americans are turning to residence visas that require only proof of a modest but consistent income.
Remote work has made it easier for the average American to make that jump, allowing them to go anywhere that has an internet connection.
And by moving to hotspots like Portugal or Panama, people can afford double or triple what they could in the US — giving them more financial flexibility.
The Future: According to the Defense Department’s Federal Voting Assistance Program, roughly 4.4 million Americans now live abroad — a 42% increase since 2010. While the expat population was once largely made up of retirees, it now includes many more young people and newer families — reflecting a growing desire to stretch hard-earned dollars.
David Kuenzi, a director at investment adviser Creative Planning International, calls it “geo-arbitrage for the middle class” — in other words, investing an American income into a more affordable international lifestyle.
Prediction: It’s possible that the new American dream will be spending part of your 20s abroad to build wealth — and then returning to the US a richer person.
Together with Vanta
State Of Trust: AI-Driven Attacks Are Getting More Sophisticated
AI-driven attacks are getting bigger, faster, and more sophisticated — making risk much more difficult to contain. Without automation to respond quickly to AI threats, teams are forced to react without a plan in place.
This is according to Vanta’s newest State of Trust report, which surveyed 3,500 business and IT leaders across the globe.
One big change since last year’s report? Teams falling behind AI risks — and spending way more time and energy proving trust than building it.
61% of leaders spend more time proving security rather than improving it.
59% note AI risks outpace their expertise.
But 95% say AI is making their security teams more effective.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.