After years of dedicated work, retirement is a period for individuals to savour peaceful and tranquil moments. Some people simply wish to rest and live a serene life with their children and grandchildren in their hometown. However, many individuals seek a new country to live in and enjoy their retirement years.
In this article, we will reveal the best places to retire in the world, with gorgeous landscapes and tranquil atmospheres to promote relaxation. Let’s check it out!
- Costa Rica
- New Zealand
Considering retirement in Portugal? Yes, you should! The country is one of the best places to retire in the world, with a beautiful combination of tradition and modernity. Boasting over 100 stunning beaches and charming cobblestone streets, these are must-visit locales.
From accommodation to groceries, prices are very reasonable. The cost for a couple living in the inner city is about $1,700/month, including rent, living expenses, meals, and entertainment. This cost in small cities and towns will be even lower. If in Lison, a couple's budget ranges from $2,100 - $2,400/month.
According to ReAssure, the largest life insurance company in England, this country also has 23% of the population over 65 years old and an average life expectancy of 81. Plus, people who are relocating to Portugal will find it easy to connect with the local community of friendly and approachable elderly people.
Panama boasts a tropical climate characterised by warm temperatures and abundant sunshine throughout the year. This makes it an ideal destination for retirement, particularly for individuals looking to escape the cold winters of their home countries.
For those seeking an active lifestyle, there are more than 10 world-class golf courses, including notable ones like the Santa Maria Golf & Country Club, the Panama Golf Club, and the Coronado Golf Course.
The affordable cost of living makes it one of the most affordable countries in Central America. Prices are even lower for retirees who qualify for a Pensionado Visa. This visa requires a minimum monthly pension of $1,000 from a foreign source.
Health is the anchor that secures our wanderlust, and some places specialise in keeping you shipshape. Spain, with its world-renowned healthcare system and sunshine-soaked Mediterranean diet, ranks among the healthiest retirement havens.
Compared to other European countries, Spain offers a lower cost of living, particularly outside major cities. Monthly expenses can be as low as €1,500, depending on your lifestyle. Bask in over 300 days of sunshine annually, Spain is perfect for soaking up vitamin D while exploring charming villages and sceneries.
4. Costa Rica
Costa Rica is consistently ranked as one of the best places to retire in the world, and understandably so! This Central American country stretches from the Pacific to the Caribbean, with a diverse ecosystem, tropical forests, beautiful beaches, and modern urban areas.
Retirees can enjoy a peaceful life with no national army and hospitality centred on a vibrant culture. Moreover, the cost of living is also more affordable than in the United States, Canada, and Europe. Pura vida awaits!
5. New Zealand
While cities like Auckland attract attention, a shift towards rural retirement is gathering steam. Studies show increasing numbers of retirees choosing coastal havens or peaceful countryside towns seeking affordability, closer connections to nature, and slower-paced lifestyles.
The 8th happiest country in the world provides a comprehensive and equitable healthcare system, offering a major advantage. Other than public hospital or insurance, you have options as follows:
- Community Services Card (CSC): to get discounts on prescriptions, dental care, and eyeglasses.
- Residential Care Subsidy: to cover the cost of extended care in a nursing facility or medical centre.
Ecuador provides many retirement benefits. Photo by jkraft5 on stock.adobe.com
Ecuador stands out as a fantastic option with its unique advantages. Accessible and affordable healthcare is a highlight, offering costs less than $100 for a full medical workup. The country also uses the US dollar to ensure financial stability, alleviating concerns about inflation.
Moreover, their cuisine is widely praised for its healthiness, featuring fresh seafood and fewer processed options compared to many other countries. Seniors get discounts on flights from Ecuador, plus up to 50% off public transportation, movie tickets and sporting events.
There are several different types of visas available to retirees, so remember to hire an Ecuadorian lawyer to help you.
A beautiful morning in Colombia. Photo by mehdi33300 on stock.adobe.com
Beyond its famed beaches, Colombia explodes with diverse ecosystems. Ranked as the second most biodiverse country in the world, it boasts snow-capped Andean peaks, lush rainforests, and arid deserts, all within relatively short travel distances.
Monthly housing costs vary by region but range from $300 in small towns to $1,500 or more for a penthouse in an urban area or a large house in the countryside. In order to be eligible for a retirement visa in Colombia, you need to demonstrate a monthly income equivalent to at least three times the legal minimum monthly wage.
Mexico remains a very attractive option for retirees. People have many opportunities to live near beautiful beaches. There are also widely established expatriate communities throughout the country (such as in Puerto Vallarta).
The exchange rate is also quite favourable, with a fully furnished one-bedroom house costing around $500 per month. A night on the town, with dinner and drinks, a concert or show and even a taxi home, will cost you as low as $12 per person. Most retirees start with a temporary residency status that lasts for four years and requires an income of just $3,450 per month per person.
Thailand is becoming one of the best places to retire in the world. Photo by Evan Krause on Unsplash
Thailand has the perfect tropical weather for relaxing and reducing stress. The warm climate is great for outdoor activities like meditation, yoga, and other mindfulness practices that are good for your health.
Thai magic works wonders on your wallet. Numbeo's Cost of Living Index shows living in Thailand can be 50-70% cheaper than the US, and 40-60% cheaper than the UK.
Retirement in Thailand isn't just about lounging on beaches (though that's certainly an option!). Vibrant cities like Bangkok offer cultural immersion, historical treasures, and a thriving expat community. You can learn Thai cooking, master Muay Thai, or volunteer in local communities – the possibilities are endless.
Greece has always been one of the best places to retire in the world. With over 2,000 hours of sunshine per year and the world's 3rd highest proportion of the population over 65 years old, you won't be short of companions in your later years.
Greece is a very diverse country geographically and culturally. You can find here, from the blue sea and white sand to white snow-capped mountain peaks, unique and attractive cultures and cuisine. These are all wonderful spices for a life of enjoyment and rest after years of hard work.
1. Where is the Best Place to Retire?
Popular spots tend to have low costs, good healthcare and nice weather. Countries like Mexico, Costa Rica, Portugal, and Malaysia are often recommended. They strike a good balance between affordability, leisure and lifestyle.
2. Where is the Safest Place to Retire?
When safety matters most, consider places with low crime, political stability and reliable medical care. According to the Global Peace Index by the Institute for Economics & Peace, countries like New Zealand and Canada are popular due to their high safety ratings. Their societies are secure with quality services for retirees.
3. Where is the Most Affordable Place to Retire?
When it comes to affordability, Southeast Asia often tops the list. Countries like Thailand and Vietnam offer a low cost of living, with Numbeo's Cost of Living Index placing them significantly lower than many Western countries.
For instance, Thailand's cost of living is estimated to be 40% lower than that of the United States. Moreover, International Living reports that a couple can live comfortably in Thailand for as little as $1,500 per month.
4. Can I Retire Abroad Safely?
Certainly! Retiring abroad can indeed be a safe and enjoyable experience. However, there are certain precautions that you need to know to make well-informed decisions. One crucial step is to conduct thorough research on your prospective retirement destination. Assess its safety records, political stability, healthcare system, and crime rates.
It's also beneficial to seek advice from expatriate communities and forums to gain valuable insights. Obtaining international health insurance coverage can provide financial protection. Lastly, remember to address legal and financial matters by seeking professional advice on visa requirements, tax obligations, and property ownership regulations.
Ultimately, the best places to retire in the world will depend on your preferences, budget constraints, and lifestyle priorities. Some may prioritize affordable healthcare and a slower pace, while others may seek the excitement of urban living and cultural diversity.
This article has listed the top ten options that retirees can choose from. What factors do you prioritise in choosing a retirement destination? Are there other locations you believe deserve a spot on the list? Please let us know by leaving a comment below. Finally, don't forget to share this article with friends and family too!