Retirement should be a breeze—a time to take a well-deserved rest from work and bask in the fruits of your labor. Yet, for many Americans, the reality is different. Financial insecurity, inflation, and expensive healthcare, to name a few, discourage folks from retiring earlier. Thankfully, outside the US, many countries offer affordable living, quality healthcare, and a vibrant environment for the elderly. Here are ten locations that should make your bucket list.
Costa Rica
As one of the world’s happiest and most affordable countries, Costa Rica attracts millions of retirees, families, and singles yearly. Rent here is way cheaper than in the US, and world-class private hospitals cost only a fraction of what you pay in the States. Couple that with the pristine views of beaches, trees, and cool weather, and you get to understand why many expats have made this their permanent abode.
Portugal
Don’t be discouraged by the size of this country—Portugal might be small, but it has something for all kinds of people. You can live a fast-paced life in the city, attend concerts, hop on the iconic yellow trams, or retire to a quiet village with a backdrop of lush green hills. All this, plus healthcare, rent, and expenses, can be achieved for just $3000 monthly. Portugal is also one of the world’s safest countries, with low crime rates and nearly nonexistent gun violence.
Greece
You’ve probably fantasized about exploring the famed ruins of Athens, the Acropolis, the temple of Olympian Zeus, or the national gardens. So why not do it now? Situated among architectural ruins, temples, islands, and emerald beaches, Greece is a Mediterranean nation that blends modern living with historical momentos. Also attractive is the cost of living, which is cheaper than in the US. The capital, Athens, is also known for its “blue zone longevity”—a result of the temperate climate, fresh food, and active lifestyle—as many residents live longer, healthier lives.
Spain
Aside from the quality healthcare and affordable standard of life, the food here is fresh, delicious, and inexpensive—whether you’re patronizing a street vendor or dining at a five-star establishment. Foreigners enjoy local pastries like paella, tapas, and churros, so try them when you’re around. Retirees like yourself appreciate the slow-paced lifestyle, cool climate, and the siesta between 1 and 5 pm, when people take compulsory rest.
France
Though France might appear expensive, it’s a relatively cheap retirement destination. In 2022, the land of love witnessed a 26% increase in resident permits issued to Americans, as many found it an affordable alternative to the states. Renting an apartment is about 34% cheaper, and residents enrolled in public healthcare get a 70 to 80% discount on all hospital appointments. Apart from that, France is a highly stylish and beautiful country featuring restored medieval castles and exquisite cuisine that you’ll enjoy.
Mexico
A good reason to move to Mexico during retirement is the culture. Mexicans are polite, caring people who prioritize the elderly. So don’t be surprised if they give up their seats for you on crowded buses, offer discounts, or let you cut in line—that’s how they show respect. Expenses, especially housing, are cheaper here, with new homes costing $200,000 or less. Healthcare is also world-class, but with the warm weather, healthy dining, and proximity to nature, you might not need it.
Panama
If being long distance with your loved ones behind is an issue, then choose Panama. Many retirees are attracted to this location for its proximity to the US, making visiting family and friends back home easier. Since the US dollar is its national currency, the economy is one of the fastest and wealthiest in the Latin American region. As a result, the standard of living is high yet affordable, with rent being about 53 to 71% cheaper than in the States. Taxes like foreign income and property taxes are nonexistent, leaving you with extra money to spend.
Ecuador
Research from Penn State University says that for the elderly, living near nature reduces depression, boosts mood, and relieves stress. Moving to Ecuador is an excellent way to experience this. This South American gem is home to Amazonian rain forests, jungles, volcanoes, and beaches with shimmering blue waters that shelter you in a tranquil existence you’ve probably never encountered in busy city life. The lifestyle is laid back and affordable, with rent going for as low as $600. And once you’ve enjoyed this for about 21 months, you’re eligible for a permanent residence visa.
Columbia
For many American retirees, what attracts them to Columbia is the blend of Indian, African, and indigenous cultures that shine in the people’s music, art, food, and warmth. This South American country is also a way to reconnect with nature and live near sunny beaches, rainforests, and mountains for as little as $1500 to $2000 in monthly expenses. Columbia’s hospitals and specialists are WHO-approved, and access to them is quick, unlike in the US, where you’re kept on a waitlist for months. However, living here will require some basic knowledge of Spanish, as Columbians speak little English.
Uruguay
Though this is the second-smallest country in South America, there are many reasons to make it your new home. Uruguay guarantees a quiet, peaceful stay, especially when you live near the stunning coastline, where the air is fresh and the climate mild. Crime rates are low, and private Medicare is available to expats for a monthly subscription of $50 to $100. Another reason is that your pension and social security income won’t be taxed, giving you extra funds to invest in your essentials or hobbies.
