15 of the Best Places to Retire Around the World
If you’ve been dreaming of a fun spot where you can stretch your Social Security payments, here are the top spots around the globe to retire in style.
Known as the Land of Smiles, the peaceful Buddhist nation of Thailand offers a low cost of living and great weather, complete with relaxation opportunities, adventure, and culinary and cultural experiences, all of which are budget-friendly. Retirees can take advantage of luxuries including spas with prices starting as low as $10 for a two-hour massage; incredible local cuisine with entrees that cost the equivalent of U.S. $1.00; and reasonable prices for transportation including tuk-tuk rides that zip through the streets of Bangkok for just $1.50 an hour.
U.S. News & World Report recommends this Central American nation as a great retirement destination for its cheap cost of living along with its natural beauty including two spectacular coastlines, adding that “real estate is a steal” here as well. It also suggests retirees explore the beautiful, and culture-rich colonial city of Granada, the oldest city in the country. Just be sure not to make any of these 7 deadly sins of retirement planning.
Not only is real estate cheap and the weather beautiful in this South American gem, but Ecuador offers a range of fabulous benefits for seniors, including substantial savings on everything from bus fare to water bills, and even refunds a percentage of monthly sales tax to seniors living here.
A BankRate survey named this as one of the top four places to retire overseas, calling it a “low-cost alternative to Hawaii”—it has the same amazing Pacific Ocean weather and scenery, but a much lower cost of living. Since it’s a U.S. territory, English is spoken everywhere on the island; plus, the currency is the U.S. dollar. Don’t miss these common mistakes people make in early retirement.
Safe, stable, and transparent are the words most often used to describe the country that’s known as the Switzerland of South America. Uruguay that boasts one of the lowest rates of corruption in the region, according to Live and Invest Overseas editor and publisher Kathleen Peddicord. She recommends the city of Montevideo as one of the safest spots in the world to retire.
The City of Light boasts some of the world’s best public transportation thanks to the Metro that covers the entire city and the city’s reliable bus service. There’s also a convenient and fun Velib bicycle rental program and train service for getting from Paris to anywhere else in France or Europe, explains Peddicord. She adds that World Health Organization’s annual survey has consistently rated the health care in France as the best in the world, and the best facilities are in Paris. Another great way to see the world in your retirement is to join one of the 13 best retirement cruises.
Financial Advisor named this Southeast Asian nation adjacent to Thailand as their number one choice for retiring abroad “cheap but well.” According to the report, it offers an affordable cost of living: Western-style apartments go for $300 a month in the capital of Phnom Penh, and meals at quality restaurants cost as little as $10 a person. Another plus for retirees: Brand name medications cost less than 10 percent of what they do in the United States.
The number one pick on International Living‘s “World’s Best Places to Retire in 2018,” the country is lauded for being stable, easy to adjust to, and affordable. It’s also beautiful: Costa Rica is renowned for its rainforests, volcanoes, and beautiful beaches. Plus, International Living notes, the country offers a great climate year-round and has “no-hassle residence programs, excellent healthcare, a stable democracy, and safety and security.” This timeline shows you exactly how to save for your dream retirement in any of these locations!
The only English-speaking nation in Central America gained its independence from Britain in 1986. A combination of urban sophistication in the modern capital, Belize City, and gorgeous sleepy islands, this country offers an easy transition for Americans looking to retire abroad. One big perk is the currency, which is locked at a $2 Belize to $1.00 U.S.; because businesses throughout the country accept U.S. currency, your money will go twice as far. Another highlight is the beautiful mild weather, with steady temperatures in the mid to low 80s year round.
Another favorite from Live and Invest Overseas, the island of Malta is located in the central Mediterranean south of Italy and it enjoys warm temperatures year round. Malta has two official languages—English and Maltese—and it’s estimated that nearly 90 percent of the population speaks English. The island nation is also a safe place to live, has great healthcare (private healthcare is particularly cheap), and low monthly bills, according to LIO. Looking for somewhere a little closer to home? Check out these 15 of the cheapest towns you will actually want to retire in.