{"id":2977,"date":"2024-04-03T11:14:10","date_gmt":"2024-04-03T16:14:10","guid":{"rendered":"https:\/\/expatsmags.com\/?p=2977"},"modified":"2024-04-06T14:52:49","modified_gmt":"2024-04-06T19:52:49","slug":"expats-their-finance-the-evolution-of-retirement-reimagining-the-golden-years","status":"publish","type":"post","link":"https:\/\/expatsmags.com\/index.php\/2024\/04\/03\/expats-their-finance-the-evolution-of-retirement-reimagining-the-golden-years\/","title":{"rendered":"EXPATS &#038; THEIR FINANCE &#8211; The Evolution of Retirement: Reimagining the Golden Years"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2977\" class=\"elementor elementor-2977\">\n\t\t\t\t<div class=\"elementor-element elementor-element-03d364a e-flex e-con-boxed e-con e-parent\" data-id=\"03d364a\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-36109be e-con-full e-flex e-con e-child\" data-id=\"36109be\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8b4e2ed elementor-widget elementor-widget-text-editor\" data-id=\"8b4e2ed\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><em>Issue 43, Cuenca Expats Magazine<\/em><\/p><p>In the modern age, the path to retirement is undergoing significant change, and Social Security sits at the forefront of this shift. For years, the storm clouds have been gathering around Social Security, with many in Congress pointing to the demographic shifts and an aging populace as clear indicators of impending financial stress on the system.<\/p><p>Now, with predictions stating that by 2033, Social Security may only be able to offer retirees 78% of expected benefits\u2014the time to act is pressing. Historically, adjustments have been made to the system. Take for instance the \u201cfull retirement age,\u201d or FRA. Previously set at 65, this age was adjusted to 67 for those born in 1960 or after. Such adaptations are coupled with adjustments to inflation rates, impacting the cost-of-living benefits over two decades. The evidence is in the numbers; no Cost-of-Living Adjustments (COLAs) were granted in years like 2009, 2010, and 2015, given the \u201cno inflation\u201d verdict by the SSA. Furthermore, the Social Security taxable wage base has jumped from $80,400 in 2001 to $160,200 in 2023.<\/p><p>Now, a new proposal is causing waves: elevating the full retirement age to 70. Understandably, this has stirred controversy. For many, the very notion feels like a betrayal; years of dedication and contributions seemingly sidelined. Yet, when considering the reasons behind the proposal, it\u2019s clear that our increased life expectancy plays a crucial role.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f0906e elementor-widget elementor-widget-image\" data-id=\"4f0906e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"500\" src=\"https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/03\/Image-New-Century-planning-Issue-43.png\" class=\"attachment-full size-full wp-image-2979\" alt=\"Image New Century planning Issue 43\" srcset=\"https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/03\/Image-New-Century-planning-Issue-43.png 800w, https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/03\/Image-New-Century-planning-Issue-43-300x188.png 300w, https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/03\/Image-New-Century-planning-Issue-43-768x480.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9ab6ad5 e-con-full e-flex e-con e-child\" data-id=\"9ab6ad5\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-237065a elementor-widget elementor-widget-text-editor\" data-id=\"237065a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The original blueprint for Social Security didn&#8217;t account for our now-lengthened lifespans, leading to a greater strain on available resources. But what if there&#8217;s a silver lining to delayed retirement? With longer life expectancy comes longer potential post-retirement years. While retirement is often seen as the pinnacle of one&#8217;s career, it can also be a period where people lose a sense of purpose and social engagement. In fact, studies suggest that working past the traditional retirement age can lead to increased happiness and satisfaction.<\/p><p>This isn&#8217;t necessarily about clinging to old jobs, but perhaps embracing new passions or ventures that not only offer financial stability but also a renewed sense of purpose. Of course, questions loom large.<\/p><p>What does a delayed retirement mean for the average American? Those approaching retirement might feel safe, but what about younger generations? Current structures allow for early benefit claims at 62, albeit at reduced rates, and enhancements for those who delay till 70. With potential adjustments, these structures might shift, leading to pressing questions about financial planning, taxation, and even career longevity. But, as we stand at this crossroads, it&#8217;s vital to remember that the very idea of retirement is, historically speaking, still in its infancy.<\/p><p>Perhaps what we&#8217;re witnessing isn&#8217;t just an adjustment to an old system, but the evolution of how we perceive and approach our golden years. As the boundaries between work and passion blur, the future of retirement might be less about age and more about fulfillment.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b278e5 elementor-widget elementor-widget-image\" data-id=\"2b278e5\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"484\" height=\"205\" src=\"https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/04\/new-century-logo.png\" class=\"attachment-full size-full wp-image-3789\" alt=\"\" srcset=\"https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/04\/new-century-logo.png 484w, https:\/\/expatsmags.com\/wp-content\/uploads\/2024\/04\/new-century-logo-300x127.png 300w\" sizes=\"(max-width: 484px) 100vw, 484px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62acf7f elementor-widget elementor-widget-text-editor\" data-id=\"62acf7f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Contact Email: rryerson@newcenturyplanning.com<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aca436c e-flex e-con-boxed e-con e-parent\" data-id=\"aca436c\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a3bb430 elementor-widget elementor-widget-heading\" data-id=\"a3bb430\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h4 class=\"elementor-heading-title elementor-size-default\">CLICK bellow to check New Century Planning's media and network!<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ad4dd18 e-flex e-con-boxed e-con e-parent\" data-id=\"ad4dd18\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-636fd49 elementor-shape-rounded elementor-grid-0 e-grid-align-center elementor-widget elementor-widget-social-icons\" data-id=\"636fd49\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-tablet-0 .elementor-widget-container{line-height:1;font-size:0}.elementor-widget-social-icons:not(.elementor-grid-0):not(.elementor-grid-tablet-0):not(.elementor-grid-mobile-0) .elementor-grid{display:inline-grid}.elementor-widget-social-icons .elementor-grid{grid-column-gap:var(--grid-column-gap,5px);grid-row-gap:var(--grid-row-gap,5px);grid-template-columns:var(--grid-template-columns);justify-content:var(--justify-content,center);justify-items:var(--justify-content,center)}.elementor-icon.elementor-social-icon{font-size:var(--icon-size,25px);line-height:var(--icon-size,25px);width:calc(var(--icon-size, 25px) + 2 * var(--icon-padding, .5em));height:calc(var(--icon-size, 25px) + 2 * var(--icon-padding, .5em))}.elementor-social-icon{--e-social-icon-icon-color:#fff;display:inline-flex;background-color:#69727d;align-items:center;justify-content:center;text-align:center;cursor:pointer}.elementor-social-icon i{color:var(--e-social-icon-icon-color)}.elementor-social-icon svg{fill:var(--e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#69727d}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}<\/style>\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook elementor-repeater-item-36fb5bf\" href=\"https:\/\/www.facebook.com\/NewCenturyPlanning\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook<\/span>\n\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-facebook\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256c0 123.78 90.69 226.38 209.25 245V327.69h-63V256h63v-54.64c0-62.15 37-96.48 93.67-96.48 27.14 0 55.52 4.84 55.52 4.84v61h-31.28c-30.8 0-40.41 19.12-40.41 38.73V256h68.78l-11 71.69h-57.78V501C413.31 482.38 504 379.78 504 256z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-mouse-pointer elementor-repeater-item-1cb90c9\" href=\"https:\/\/www.newcenturyplanning.com\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Mouse-pointer<\/span>\n\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fas-mouse-pointer\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M302.189 329.126H196.105l55.831 135.993c3.889 9.428-.555 19.999-9.444 23.999l-49.165 21.427c-9.165 4-19.443-.571-23.332-9.714l-53.053-129.136-86.664 89.138C18.729 472.71 0 463.554 0 447.977V18.299C0 1.899 19.921-6.096 30.277 5.443l284.412 292.542c11.472 11.179 3.007 31.141-12.5 31.141z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Issue 43, Cuenca Expats Magazine In the modern age, the path to retirement is undergoing significant change, and Social Security sits at the forefront of this shift. For years, the storm clouds have been gathering around Social Security, with many in Congress pointing to the demographic shifts and an aging populace as clear indicators of [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":2979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,59,319],"tags":[157,155,156,111,158,159],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/posts\/2977"}],"collection":[{"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/comments?post=2977"}],"version-history":[{"count":20,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/posts\/2977\/revisions"}],"predecessor-version":[{"id":4317,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/posts\/2977\/revisions\/4317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/media\/2979"}],"wp:attachment":[{"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/media?parent=2977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/categories?post=2977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/expatsmags.com\/index.php\/wp-json\/wp\/v2\/tags?post=2977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}