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Duong Van Chat, 92, waits to play croquet in Hanoi's Soc Son district in October 2019. Photo: Manan Vatsyayana/AFP via Getty Images

Some American baby boomers are retiring to Vietnam to take advantage of the lower cost of living and affordable health care, the Los Angeles Times reports.

The big picture: Just over 420,000 retired American workers live in foreign countries, according to the latest data from the Social Security Administration. That number is small compared to most of the U.S. but marks a higher concentration than dozens of large states.

  • Roughly 400 retired American workers currently live in Vietnam, according to the SSA.
  • U.S. soldiers who served in the Vietnam War are also retiring to the country.

Cambodia and Sri Lanka are also working to entice U.S. retirees, per the Times. Sri Lanka distributes renewable two-year visas to retirees that can support themselves, and both countries offer low housing costs.

The bottom line: The majority of retired American workers living abroad are putting down roots in Europe, per SSA data. Retirees living in Canada and Mexico come in second place, followed by Asian countries.

Go deeper: Retirement becomes more myth than reality

Go deeper

13 hours ago - World

Maximum pressure campaign escalates with Fakhrizadeh killing

Photo: Fars News Agency via AP

The assassination of Mohsen Fakhrizadeh, the architect of Iran’s military nuclear program, is a new height in the maximum pressure campaign led by the Trump administration and the Netanyahu government against Iran.

Why it matters: It exceeds the capture of the Iranian nuclear archives by the Mossad, and the sabotage in the advanced centrifuge facility in Natanz.

Scoop: Biden weighs retired General Lloyd Austin for Pentagon chief

Lloyd Austin testifying before Congress in 2015. Photo: Chip Somodevilla/Getty Images

Joe Biden is considering retired four-star General Lloyd Austin as his nominee for defense secretary, adding him to a shortlist that includes Jeh Johnson, Tammy Duckworth and Michele Flournoy, two sources with direct knowledge of the decision-making tell Axios.

Why it matters: A nominee for Pentagon chief was noticeably absent when the president-elect rolled out his national security team Tuesday. Flournoy had been widely seen as the likely pick, but Axios is told other factors — race, experience, Biden's comfort level — have come into play.

Updated 15 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: Supreme Court backs religious groups on New York COVID restrictions.
  3. World: Thailand, Philippines sign deal with AstraZeneca for vaccine.
  4. Economy: Safety nets to disappear in December Black Friday shopping across the U.S., in photosAmazon hires 1,400 workers a day throughout pandemic.
  5. Education: National standardized tests delayed until 2022.