Retirement is a part of life. We work our whole lives to live an extraordinary life at the end of our work life. That means we can enjoy life with great food, adventures, and relaxing lifestyles. It is appealing to many people, and the great thing is that many countries offer many of these things at a reasonable price. So here are the 14 best countries to retire to in 2023.
1. Colombia
If you are looking for a place with a great culture and many different environments, look no further than Colombia. It is many different microclimates. You could be near the beaches or go into the mountains. The people are friendly and welcoming, low costs and healthcare is ranked in the top 20. So it is hard to pass up.
2. Thailand
Take a trip to Asia and retire in Thailand. Many expats flock to Thailand because of the weather, the beauty of the country, and the low cost of living. Thailand should be your destination if you are looking for mountains, beaches, and cheap food. Most retirees could live on a budget of between $1,500-$2,000 monthly. If you are frugal you could bring those prices down.
3. Costa Rica
Costa Rica is known for Pura Vida, which is pure life or simpler life. They have great beaches, incredible rainforests, and volcanoes all around. Healthcare is some of the best in the world and affordable for expats. It is also known as one of the safest countries in Latin America. With the low cost of living, you will love to retire in Costa Rica.
4. Portugal
Another great country in Europe for retirees to visit and live in would be Portugal. The low cost of living has people spending anywhere from $1,500-2,000 a month, and the majority of the country speaks English. With a low cost of living, beautiful architecture, food, and great healthcare, it is no wonder people are looking for a place in Portugal.
5. Malta
Malta is located just south of Sicily and offers beautiful weather and fantastic beaches on the Mediterranean. The climate is generally mild all year round and is much less expensive than most of Europe. Monthly costs could be around $2,600 a month. So retiring there can give you a great climate and standard of living.
6. France
France has recently become a huge highlight for many people wanting to retire abroad. They are one of the best healthcare systems in the world, and it is affordable. There are beautiful beaches that are on the Mediterranean, and they have some lovely mountains. Life seems to be great, with world-class cuisine and affordable living. France would be a wonderful place to retire to.
7. Greece
Many people visit Greece because of the culture, food, and beautiful Mediterranean beaches. It also becomes a popular retirement destination for those people to live. With a mild climate, many people can enjoy living in Greece and get by by spending less money.
8. Spain
Spain is often on many lists for affordability, a great lifestyle, and fantastic healthcare. So why not retire there? The big cities of Madrid and Barcelona offer many people city life, while the rest of Spain has beautiful beaches and unique little towns. The food, culture, and lifestyle will allow you to enjoy this beautiful country of Spain.
9. Italy
Famous for food, wine, and culture, Italy is a great place to go and retire to. It offers a fantastic lifestyle, excellent healthcare, and a diverse country with beaches, mountains, and relaxing towns. No wonder people in Italy live one to five more years than the rest of Western Europe. As a country to retire to, you will find that life in Italy will be enjoyable.
10. Panama
Panama is one of the top places for people to retire too. The low cost of living makes it an excellent spot for Americans to stretch their retirement dollars. The lush forests, beautiful mountains, and gorgeous beaches make it a place you want to spend the last years of life enjoying. They also have one of the best retiree visa programs in the world, offering many benefits to people that want to retire there.
11. Mexico
If you want a place closer to home, check out Mexico. Mexico has excellent transportation to the U.S., a low cost of living, beautiful beaches, and delicious food. The cost of living is meager, meaning you can save more by retiring to Mexico.
12. Ecuador
Ecuador is the southern neighbor of Colombia, offering fantastic food, a great temperate climate, incredible coasts, and the chance to see the Galapagos islands and visit the Amazon. With the low cost of living, most people can get by by spending anywhere from $1,500-1,850 a month. It is starting to become a big-time retire destination.
13. Belize
If you want an excellent place to retire and speak English, visit Belize. It has sprawling beaches, fantastic seafood, and friendly people, and it is affordable to live there. Under Belize’s Qualified Retired Persons program, those who are retired will be tax-exempt on all passive income from other countries. The cost of living can range from $1,200-1,700 a month. Not bad for retiring in another country. Look at Belize for a great place to retire to.
14. The Philippines
The Philippines archipelago is full of over 7,000 different islands, and with so over 200,000 U.S. expats living there, you may wonder why. The Philippines has beautiful weather, fantastic food, and cheap low-cost living. The Special Resident Retiree’s Visa also brings benefits such as exemptions on certain custom taxes, travel taxes, import taxes, and taxes on income. These tax benefits are hard to turn down.
Are You Ready to Move?
Living in your country to go elsewhere can be scary. Still, opportunities to travel, enjoy life and find a more affordable place become options as we get closer to retirement age. You never know where life may take you, but you can have options with this list of the best countries to retire to. Enjoy your golden years.
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I’m Steve. I’m an English Teacher, traveler, and an avid outdoorsman. If you’d like to comment, ask a question, or simply say hi, leave me a message here, on Twitter (@thefrugalexpat1). Many of my posts have been written to help those in their journey to financial independence. I am on my journey, and as I learn more I hope to share more. And as always, thanks for reading The Frugal Expat.
