Seems like it’s a well known fact that being poor or even middle class (if that will even exist anymore) in the US disposes one to a very low quality of life (e.g., living in areas with higher crime rates, bad healthcare, the most obvious being cost of living, …etc)
On the flip side, what are some reasons why the top 1-5% percentile would also want to leave the US? (e.g., taxes/financial benefits, no longer aligning with the culture? I would assume mainly the former)
If you are in the top 1-5%, is living in the US still the best place to live? (as many people would like to suggest)
Philippines, Thailand, Costa Rica, Portugal. The sad fact is you cant afford to retire in the US unless youve put away $2 mil for a couple or have 2 fat pensions. Most of the western world retires earlier, gets more time off and doesn’t pay a grand a month in heath insurance. I think outside of extremely high earners there will be an exodus to lower expense countries with at least decent healthcare. Here, social security will have to be cut 25% to keep it afloat.
The high earning states will have people retiring to poor US states, those in poor states will move to cheaper countries, those people will move to the next cheaper place… its gonna be gentrification musical chairs.
Medicare reimburses nursing homes something like 130 dollars a day. Have you been in a nursing home? Sitters here cost 20 to 30 bucks an hour in home. Which is not covered by medicare. Your saving will go quick.
Something may change for the better to make it possible to stay in the US. I certainly hope so.