Economy

Nearly 100,000 Americans in Japan Get Social Security

tawatchaiprakobkit / iStock via Getty Images
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Sixty-six million people get Social Security payments each month. Almost 48 million retirees are beneficiaries of these. This translates to 9 out of 10 Americans who are 65 or older. Not all of these people live in the US. Over 695,000 live in other countries. Of those, 97,693 live in Japan.

The Japanese number is surprising. According to a recent 24/7 Tempo study, Japan ranks 10th among countries with US expats, behind Mexico, the UK, and several other European countries. Only a few thousand Americans move there each year. These are the countries with the most American expats.

There are several reasons Americans relocate to Japan. For the most part, people in Japan are paid well. Whether this affects American retirees is hard to say. It depends on how many are still working.

What is clear is that Japan is one of the safest nations in the world. There is very little violence, and it is extremely rare for residents to have guns.

The cost of living in Japan is about 50% of the US figure. A strong dollar makes that advantage larger.

Americans who live in Japan do have to pay US taxes. However, this is rare. According to H&R Block, “The United States is one of only two countries that taxes based on citizenship, not place of residency.” However, Americans who pay taxes in the countries where they live may get relief from the IRS.

For older Americans, healthcare is a critical issue. Japan has one of the world’s best healthcare systems. And according to one source, “Health care in Japan is, generally speaking, provided free for Japanese citizens, expatriates, and foreigners.”

Finally, and unfortunately, very few Americans speak Japanese. That alone is a reason few people from the US live there.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.