Multiple variables contribute to the quality of retirement. We inspect the cost of living, available activities, scenery, quality of life, and health care as an umbrella for retirement quality. We dive further into the retirement quality based on individual preferences. Where someone prefers a waterfront retirement, someone else may hope to live in the mountains.

Crime rate, air quality, education, community, job markets, taxes, and community also all play roles in dictating the kind of retirement one finds. We’ve compiled a list of eight cities in the U.S. and eight countries around the world where retirees adore their golden years. Will you move to any of these places come retirement?

1. Ann Arbor, Michigan 

If you grew up spending your summers on the waterfront or vacationing at your grandparents’ rental home on the harbor, Ann Arbor might be the ideal retirement location for you. Since this city houses the University of Michigan, all kinds of waterfront activities come to the forefront in this Michigan metropolis. Jump back into your boating days with any of the boating schools floating around the coast, or take up a new hobby as a kayaker. 

Though the cost of living and median home price dance above the national average, citizens claim to experience a high quality of life in Ann Arbor. In fact, a recent document cites Ann Arbor as the city with the best quality of life. Factors contributing to the high quality of life include a low- crime rate, diversity in outdoor activities, education, healthcare benefits, and air quality. 

2. Austin, Texas

Retirees in Austin cherish the warm weather, the year-round sun, and the humid climate for their golden year vacation. Due to Austin’s warm weather, lots of citizens participate in numerous outdoor activities such as biking (the city presents several trails), walking, swimming, and golf. If anything goes wrong during these activities, the top-tier healthcare centers provide patients with astounding medical care. 

Another quality making Austin a high-interest retirement community includes the lack of state income tax on retirement income. That means Texas transplants can bring their entire retirement fund to the Lone Star state and never have to pay taxes on top of the sum. Combine the lack of an income tax bill with a cost of living  7% under the national average for a retirement paradise. 

3. Fayetteville, Arkansas

Retirees who fancy Southern charm and a town charmed by Southern hospitality look toward Fayetteville, Arkansas, as an option. The town yields a diverse age range, granted that many of the citizens attend the University of Arkansas. In my experience, college towns bring in the tastiest food. Aside from the delicacies, Fayetteville boasts a Historic square teeming with shops, museums, and restaurants. 

Fayetteville residents appreciate living in a town that costs 6% below the national average, with the bonus that the median house price is $225,000. Retirees favoring conservative ideals find Fayetville a fabulous match for those political beliefs. As far as scenery, the Arkansas city witnesses four seasons a year, featuring snowfall and rain. 

4. Portland, Maine

Perched on the seaside, a lighthouse peers over Portland Harbor, a subset of Casco Bay. The lighthouse represents Maine, in a way – a beam of light shining through rocky terrain (weather). Retirees who flock to Maine find the northeasternmost state doubles as a haven for those past the 60-year mark. Sure, the state’s cost of living flies over the national average. However, tax write-offs sustain retiree interest. The state permits people 65 and above to participate in a tax relief program where they pause property tax payments on their homes. Additionally, the state refuses to impose a state tax on social security and $10,000 of any pension. 

Despite the harsh winters thrashing through Maine, tax benefits, scenery, low crime rate, and high food quality pique retirees' interests. Maine’s beauty allures anyone immersed in nature, as the state highlights mountains and waterways, each promoting outdoor activities. Mountain enthusiasts prefer hiking or skiing, while water enthusiasts sail, boat, or fish through Maine’s waters. The foodie scene caters toward lobster lovers with fresh Maine lobster rolls. 

5. Iowa City, Iowa

Iowa City, Iowa, is another university town, bringing in a diverse community and a large array of job opportunities for the locals. The University of Iowa’s location causes an uptick in the community’s educational interest. Many retirees attend seminars and events put on by the college community, fostering discussion between generations. Seniors benefit not only from the active intellectual community but also from affordable transportation options and comprehensive healthcare. 

Iowa City, Iowa, operates on a cost of living 7% below the U.S. average or 1% below Iowa’s average. According to Rentcafe, the average apartment price in Iowa City is $1,442, compared to the national average rent of $1,739. Retirees seeking houses find the average home price flickering around $393,700 vs. the U.S. average of $427,496.

6. Naples, Florida

Naples is the five-star retirement spot for upcoming retirees. That being said, the community focuses on the high-quality aspects of retirement, like golf, near-Michelin-starred cuisine, expensive fashion, exclusive beaches, and multimillion-dollar estates. Polishing all of those qualities off are white-sand beaches opening to the dreamy, blue-green Gulf of Mexico. 

Naples appeals to retirees who have an excess of income in their retirement fund. The cost of living in Naples crosses the national average. For example, a single person needs an estimate of $5,000 to maintain the national average for quality of life. Rent for a traditional room averages $1,890, or 32.2% higher than the national average, while houses cost $1,045,900, or 209.3% more than the average home purchase cost in the U.S.

7. Orlando, Florida

Searching for a less upscale, more touristy hotspot than Naples? Orlando (and the surrounding areas) homes theme parks, aquariums, and museums that host lifelong fun for everyone. Drive a few miles outside of the theme park circle for miles of white sand beaches and surf. Meander in a different direction and stumble upon the John F. Kennedy Space Center, a NASA launch center. 

A future retiree considers finances before retirement. They consider their financial standing, savings, emergency fund, etc., though a specific element of saving stands out when choosing the perfect place to retire: taxes. Orlando, Florida, does not charge any income, inheritance, or state tax on retirees, allowing them to attribute that saved money to their retirement fund. 

8. Akron, Ohio

When you think of ideal U.S. states or cities, what comes to mind? The lush greenery of the Pacific Northwest? How about the snow-capped mountains in the East? Or how about the warm climate of the southern U.S.? I bet you don’t think of a state dropped into the middle of all that terrain with a comfortable climate of its own. Ohio. Akron, Ohio, tops the list for the most affordable city to retire to, thanks to its low cost of living and reasonable rent deals. 

Akron exists right outside of Ohio hubs like Cleveland and Columbus, creating a fantastic suburban destination in its own right. The state showcases all four seasons, meaning the weather borders on biting and sweltering, though the scenery accompanying the extremes makes up for the harsh weather conditions. Akron hosts numerous festivals and entertainment activities year-round, enhancing its arts/community aspect. If none of that convinces you to retire in Akron, maybe the cost of living will. The housing market in Akron drops 43% below the national average, and the cost of living is 16% below the national average. What’s stopping you now?

9. Costa Rica

Pura Vida! Worldwide expats share a commonality: their love for Costa Rica. In Costa Rica, the phrase exchanged in every establishment and interaction, “Pura Vida,” exemplifies the laid-back, carefree nature of the Spanish-speaking country. Pura Vida means pure life or a simple life. Yet in Costa Rica, it is used as a greeting, goodbye, or an expression of happiness. Pair the pura vida lifestyle with miles of jungle, cloud forest, and beaches, and you find a tropical paradise. 

Retirees favor the low cost of living in the country. A U.S. citizen can expect to pay 38% lower housing costs in Costa Rica. Another factor elevating the Costa Rican retirement experience is the emphasis on the environment. When I visited Costa Rica, we stayed at a green hotel that charged for each lost key, as that adds to the plastic epidemic ravaging the world. Throughout the hotel, the staff set up greenhouses and conservation funds, tending to the natural environment surrounding the hotel. A low crime rate and remarkable healthcare system draw expats to Costa Rica, too. 

10. Spain

Have you ever imagined living the non-working part of your life planted on the Iberian Peninsula? Crossing your feet on top of a patio, sipping wine as boats breeze by your condo? You could have that in Spain.

Part of finding a retirement location that works deals with community. Spain holds a pre-established expat community of over 40,000 people who migrated to the country for their post-career lives. Potential retirees note a multitude of green flags circulating about retirement in Spain. The first advantage of moving there includes a cost of living 27% below the U.S. national average. Next, retirees check off an excellent healthcare system. 

Retiring in Spain won’t satisfy everyone, particularly because the first year of retirement requires investments in Spain when applying for citizenship through the Golden Visa. Those investments may take place in property purchases, stocks, or starting a leg of a business in the country. Non-business-oriented people opt for the non-lucrative visa, which requires sound financial standing. 

11. Colombia 

Close your eyes. Picture vibrant buildings adorning the sides of cobblestone pathways and giant mountains peaking in the distance. Imagine swirling waterways of ruby red, cobalt blue, and magenta morphing into a dreamlike river: the Cano Cristales. Waterfalls and beaches also shine in this Spanish-speaking country. All of that can be yours in retirement. 

The cost of living in Colombia differs from other countries, leading people to retire at the gateway to South America. Expats in Colombia delight in the news that the cost of living is 70% below the American national average. Therefore, expats in Colombia save an exorbitant amount of money by retiring in this part of South America. Expats enjoy their increased savings along with the warm Colombian air, a dazzling entertainment scene, quality healthcare, and living in a travel hub.

12. France

Thank a treaty signed in the 1990s for the tax benefits reaped by retirees today. Retirees still declare their taxes in France, but the fine print of the treaties permits them to prevent taxation on pensions, social security payments, and income, which sounds like the sweetest song to many retirees. An added bonus on top of the tax benefits is the lower home owning and renting costs. Depending on location the cost of living in France may be higher than that of the U.S., but the housing market remains under the U.S. average. For example, the median one-bedroom rent price in the U.S. is $1,372, whereas the median rent in France is around $700-$800. 

Former workers indulge in French retirement lounges around coffee shops, drinking quality joe in front of cultural and historic landmarks like the Eiffel Tower or the Notre Dame cathedral. To get to these coffee shops, public buses, and trains transport passengers between locations and cities. 

13. Malaysia

Malaysia – an Asian oasis where English is a common-spoken language – treats locals and expats alike with its stunning scenery and comfortable climate. For those who freeze during 50-degree winters, Malaysia may be the perfect retirement location. The climate ranges between the low 70s and low 90s in densely populated areas, while the temperature plummets into the high 50s and high 70s in hilly terrain. 

Rent in Malaysia ducks 80% below the U.S. average, and the overall cost of living is about 54% below the U.S. average. According to International Living, upscale three-bedroom apartments in Malaysia cost $900. Saving over 50% of retirement funds each year constitutes a long-lasting, golden retirement, especially when the healthcare in Malaysia is well-regarded and comes at a low cost.

14. Portugal

Sunbathe almost every day during retirement in Portugal. The republic roosts on the Iberian Peninsula and the Atlantic Ocean, basking in the cool sea breeze and warm weather. Given the location, Portugal serves fine-tuned seafood dishes, like cod, octopus, and urchin for starters. After consuming top-notch seafood at a local restaurant, grab a glass of Port wine, a tasty wine originating from the Douro Valley of Northern Portugal.

The cost of living in Portugal is 37% below the U.S. average, with housing costs sinking 47% housing in the U.S. Retirees pocket excess money from rent to delve into the popping arts and gastronomy scenes flooding through Portugal. Expats note the esteemed, low-cost healthcare system, too. 

15. Greece

Treat yourself to a baba ganoush and pita bread plate as you overlook three seas: the Mediterranean to the south, the Ionian to the west, and the Aegean to the east. Close your eyes and soak in the storied mythological presence rooted in Greece’s bones. Year-round warm weather entrances expats to the idyllic island.

The cost of living in Greece is 25% below the U.S. average, with rent dropping 70% below the U.S. median. Retirees can find a gorgeous, Grecian one-bedroom apartment for $533 a month, saving over $1,000 compared to U.S. prices. Furthermore, Greece’s tax regulations draw expats to the island. All money earned outside of Greece receives a 7% tax rate, and social security payments will never be taxed twice. 

16. Bali

The plane lands in Indonesia. A giant King-Kong-esque grass figure looms in the distance. After hopping out of the plane, your eyes jet around the scenery, never having witnessed an airport so pretty. Temples top the outdoor buildings, flower offerings to the gods scatter the ground, and traditional Indonesian artwork paints the airport. During the drive to Bali, you notice countless temples devoted to worship and miles of greenery. Scooters congest the streets, carrying groceries and passengers to their next destination. Through winding roads and quick switch ups, the driver drops you off in your new place of residence. 

Part of the allure of Bali comes from the province’s dedication to wellness. Massages, spas, and wellness treatments crop up around every corner, begging for customers to tend to their ailments. Creating essential body products for personal use is not uncommon, as the people in Bali live off of the ingredients grown on their land, an aspect rarely found in the Western world. The cost of living in Bali is around 50% cheaper than life in the U.S. For example, an expat could survive off $12,000 per year in Bali.