Retirement abroad is becoming more and more popular. According to the Social Security Administration, more than half a million people living outside the United States receive social security benefits. If you are considering moving abroad, however, you should find out what options are available to you. Fortunately, the International Living’s Global Retirement Index lists the best countries for people wishing to retire. In this article, you will find 15 of the best countries to move to for your retirement.
You have a lot of choices in Peru when it comes to landscapes. The country is characterized by dynamic cities, mountainous regions, and quiet agricultural cities. Wherever you stay, the cost of living tends to be at the lower end of the scale compared to other Latin American countries. According to International Living, you can live comfortably on $1,500 per month or less. The organization also says that you can find an apartment in Miraflores, a chic neighborhood in Lima, for about $800 a month.
Thailand is not only a beautifully exotic country but also stable, calm and affordable. According to International Living, you can rent a modern studio there for as little as $400 a month. More and more expatriates are therefore retiring there.
Considered a country highly connected to the rest of the world and one of the most culturally accessible, expatriates may find Spain more accessible than other countries for retirement. The financial crisis that hit Spain almost a decade ago caused house prices to fall by 40% below their 2007 peak, and the Iberian Peninsula country in Europe has a “golden visa” program that makes it easier to obtain residence permits for those who spend at least 500,000 euros – about $600,000 – on properties in Spain.
Canada is very popular with retirees. It is a place where life is good, the political system is stable and business practices are transparent. Besides, there is respect for property rights and a well-developed public education system.
Australia is popular for its safety, health awareness and kindness, which adds to the appeal of the country’s picturesque landscapes and moderate winters. While the high cost of living in large urban centers may be a deterrent to some, retirees have a choice between many small and rural cities.
This European country may be of interest to pensioners because it is considered a country with a favorable tax environment. Switzerland also welcomes many pensioners because of its economic stability and the fact that it is a safe country where life is good.
9. New Zealand
New Zealand, which is considered a picturesque and safe country, is not only popular with tourists, but also with retirees. However, those considering retirement in this small island country will want to ensure that they are healthy, as there are strict financial requirements for temporary retirement visas and retirement visas for parents.
8. Costa Rica
A mild climate, breathtaking landscapes, and pristine beaches attract retirees to Costa Rica. The country welcomes expatriates and offers a simple residency process. With a monthly income of at least $1,000 per month from social security or a similar source, expatriates enjoy a high standard of living at a fraction of American costs. This country is, therefore, a great option for anyone who wants to rest in a paradisiacal setting!
Because of its proximity to the United States, Mexico attracts more than one million pensioners to its borders. Successful expatriate communities like to live by the sea and talk to English-speaking people. Besides, legal residents over 60 years of age benefit from discounts on airline tickets, groceries, and restaurants.
Ecuador has a lot to offer: coastal cities with a relaxing lifestyle, sunny hot spots and panoramic views of nature. It is one of the few places where you can choose a climate by migrating to higher altitudes. Besides, the cost of public transport in Ecuador makes it unnecessary to own a vehicle. A bus trip costs only $0.25 and a taxi trip costs about $3.
Retirees who choose to settle in Malaysia will appreciate its rich culture and exotic landscapes. Besides, the country offers modern amenities at bargain prices. Expatriates enjoy the convenience and comfort of being in Malaysia. You will find cheap rental units, delicious street food, and spectacular shopping malls. In short, it is a perfect place for retirees looking for exoticism at a low cost!
Retirees seeking a high standard of living at a low cost will find a suitable place to retire in Colombia. A monthly allowance of $1,700 to $2,200 allows you to rent a high-end apartment, take advantage of cleaning services and have funds for groceries and other activities. In addition to perfect weather all year round, retirees benefit from low utility bills.
Retired people flock to Portugal for its warm climate, amenities and residential options. Ranked the third safest country in the world, it is a crossroads for the expatriates’ way of life. Not only can couples live comfortably on a budget of $1,500 per month, but they also have access to excellent health care.
Nicaragua offers a multitude of opportunities and adventures. Retirees are attracted to this beautiful destination because of its tropical climate and the warm welcome of its expatriate community. In addition to the low cost of living, the government offers incentives to foreign pensioners. As a retiree, you will benefit from all the money earned outside Nicaragua, tax-free.
Beautiful beaches and a booming economy attract retirees to Panama. An income of $2,000 per month covers a modest cost of living. Ocean breezes prevent hot temperatures all year round. Besides, an active expatriate community gathers for music festivals, films, and outdoor adventures. You will not be bored in this beautiful country! Besides, the country offers discounts to pensioners holding a Pensionado visa.