Retirement is the start of a new phase in your life and is an exciting prospect of it. However, the crucial and difficult decisions need to be taken by you during the process of decision-making. It can be extremely hard to find a country that exactly meets your standards of living, culture, and overall appeal in general.
If you are from America and searching for the best countries to retire in abroad, you have hit the jackpot by coming to the right place! Because we have listed the 12 best countries for your retirement if you are from America.
Table of Contents
1. Portugal
Undoubtedly this is one of the most balanced places to retire in terms of living costs as well as the quality of lifestyle. Perhaps the only country which can be termed as the “all-rounder”.
The annual sunshine hours sum up to a whopping 3000 hours which is indeed a treat to the sun-starved people from the northern region.
Even the most attractive locations will offer affordable home and in quiet areas like that of Portimão, the prices are even cheaper and gradually drops as one moves inland. This country is definitely a safe option with good culture, healthcare, infrastructure, and comfortability for your retirement life making it the best country to retire.
2. Spain
If a great culture and climate are what you are looking for Spain is the perfect choice for you. Spain is known for its rich culture and warm and sunny climate. It is also a natural collection of diverse landscapes and natural sceneries.
However, Spain has its cons too.
In order to qualify for permanent residency, one has to show a comparatively high-income level than that of Portugal. One can get properties at reasonable prices in the Costas.
Undoubtedly Spain offers a lot when it comes to leading a good lifestyle. Apart from being safe and providing good health care facilities, this country has the second-longest recorded life expectancy in the world. Making Spain one of the best retirement countries.
3. Italy
The diverse locations and its culture are what make Italy one of the top few retirement destinations on our list. The rich heritage and culture of hospitality are known all over the world.
However, the overall cost of living is quite high here. You need to meet the high expectations of income for getting approval for residency here. One can explore Southern Italy because of the availability of inexpensive options and mesmerizing natural views. If your pocket allows it, then Italy is one of the best countries to retire in globally.
4. Costa Rica
Costa Rica is known for its beaches, natural beauty, and healthy standards of living. It is to be noted that being the most expensive Central American country, Costa Rica is comparatively cheaper than most European countries listed here.
One of the major advantages here is that you do not have to pay income tax and the income required to issue a retirement visa is comparatively lower. The only field where this place lacks is its national infrastructure which one can experience just by driving on its unmade or uncompleted roads all over the country.
All the other positive aspects of this country definitely make up for that which makes Costa Rica one of the most peaceful and nature-centric retirement destinations. So, if you do not want to move from America, then this country would be the place where you want to enjoy your post-retirement life.
5. Greece
This country can definitely be the perfect example of a fine blend between tradition and culture. Offering the same tax rate as that of Italy for the last 10 years Greece is considerably cheaper when it comes to the standard of living and purchasing properties.
Greece is known for its how-to-living lifestyle, slow pace, and holds a reputation for great food. All these factors come up together to boost the life expectancy of an individual.
There is a notable difference between low and high tourist seasons as places can feel almost deserted during the winters. If you are in search of quiet retirement life, this is probably what you are looking for.
6. Cyprus
Considered one of the best holiday destinations in Europe, Cyprus holds its position in the top half of our list. With the cost of living being roughly the same as that of Spain and having a good life expectancy, this can be a wise choice. And definitely one of the best countries to retire to from the USA.
Purchasing properties isn’t too expensive as it is an island. The tax system is very flexible as one can choose the process of paying taxes every year. Cyprus holds the record of getting the most annual sunshine approximately 340 days amongst all European countries. Therefore, be prepared for hot summers after your retirement.
Additionally, when it comes to healthcare services, this place is the one to go for. Cyprus offers state-of-the-art medical facilities and many public or private healthcare institutions.
7. France
This is one of the most commonly chosen options when it comes to a perfect retirement destination. France is equal to fantasy. This country will be ideal for globe trotters as it is well connected with Europe.
The very country portrays its work-life balance by utilizing its national health care and infrastructure facilities. The quality of food and drinks is unlike any country on our list. The cost of living greatly depends on your living standards and the place you are planning to settle in.
While the Southern part of the country is considerably expensive one can find affordable properties in the Provinces and making it one of the best countries for American ex-pats to retire.
8. Turkey
Turkey is a super affordable option out there. There are taxes on the pension amount and the cost of living is super low. One can easily get a Turkish passport after buying $250000 worth of property.
Turkey is rich in natural beauty and culture which is unique to it. This is a perfect retirement destination if you are searching for a cheap option without compromising on culture, health care, and tax freedom.
Therefore, Turkey’s sheer natural beauty is so stunning and unique that it could make any rival country. Also, when it comes to architecture, historical and archeological buffs, then this place is like a treasure trove.
You will not find any other place offering such standards of living at such a price bracket. Undoubtedly, one of the best countries to retire in.
9. Malta
It is a well-known fact as suggested by researchers that either you will love Malta or will see no point in living there. This country, which is more of a Mediterranean island can be quite expensive in the long run.
Malta is dusty and noisy but the rich heritage, history, and sunny climate make up for that. Prices of properties are at par with Turkey which of course will greatly depend on the location.
The country also has a dedicated retirement program for which one has to purchase a property above the mentioned value. All these reasons make it one of the best countries for Americans to retire in.
10. Germany
Germany is internationally for being one of the most well-managed and efficient countries. The place has a lot to offer in its four distinct seasons. If all these sound good to you, Germany may be the ideal choice!
This Country has a top-level infrastructure and diversified natural resources to offer, especially the Alpine regions during winters which are great for hiking.
If you search for an active lifestyle, an environment that runs like a clock, experience one of the best healthcare facilities, and have good food, Germany is on the list of best countries to retire for U.S citizens.
11. Morocco
Blending African and European cultures together, this is a fascinating country. Morocco has a remarkably diverse country starting from a dry desert to cool mountains.
Perhaps having the lowest cost of living on our entire list, this will be a budget-friendly option for you. The food, coffee, and mint tea are what Morocco is famous for apart from its culture.
However, there are a few things to be noted before confirming this country as your retirement destination. Morocco has wealth inequality with electricity not available everywhere. Ohh! did we forget to mention that you have to drive through deserts for getting anywhere.
12. Panama
The country is clearly not a big name when it comes to international comparison. However, it is definitely on the list of destinations that stand out on their own.
There are a lot of advantages when it comes to a retirement Visa. Paying $1000 per month till the retirement Visa gets granted, one can enjoy duty-free importation of household goods and cars here.
Being slightly on the expensive side, Panama has the best possible infrastructure to offer among its neighboring countries. Thus, this concludes our list of the best countries to retire in globally.
FAQ
Can you live outside the US and collect Social Security?
One may receive their social security outside the US as long as they are eligible for it.
What is the cheapest and safest country to retire in?
Some of the cheapest and safest countries are- Portugal, Spain, and Malaysia.
Can an American retire in Europe?
Definitely yes. Europe’s diversity, landscape, and history made this place attractive to Americans and thus it ranked highest amongst the best places.
Can US citizens retire in Spain?
Yes, US citizens can retire in Spain by holding a residence visa without the right to work.
Conclusion
So, here are the top 12 countries you can consider as your post-retirement place. Hope you find this article helpful.
