When you retire abroad, you can stretch your savings and enjoy great weather all year round. Living abroad is also an exciting thing to do.
Retiring abroad is a big decision that requires some thought. It would help if you looked into different places to find out how much things cost and what it’s like to live there.
Tax obligations, visas, discovering a new language, or getting used to an international society are all necessary points to consider. With all these points in mind, you can begin limiting your options to find the best retirement location.
In this blog, we’ll talk about several genuinely surprising locations among the best places in the world to retire.
Table of Contents
- Why Relocate for Retirement?
- Best Places Lists
- Quirky Retirement Locales
- Best Places to Retire Abroad
- Best Places for Retirement Taxes
- The Better Places in the World to Retire
- 4 Ways to Determine What is Best for You
- Final Thought – Best Places to Retire
Why Relocate for Retirement?
When making big decisions about retirement, it’s important to consider moving. You can drive after you retire, such as downsizing, being closer to family, or living somewhere with better weather.
Downsizing Your Home
Downsizing is an extensive choice for people getting ready to retire, and it’s essential to consider. You can get more money and a safer place if you sell your big house and move into something smaller. As you age, you may not be as mobile as you were when you first retired. If this is the case, you may want to move to a smaller house without stairs.
You should save money in the future if you move from a large family home to a smaller one. Many people plan to sell their homes as part of their retirement savings, but a smaller house also has other benefits, like a lower electricity bill. It’s great to think about if you want to make more money in retirement.
Staying Closer to Family
You will want to live closer to your family when you get older. You’ll be able to help your kids and see your grandchildren. Your kids and grandchildren will also be able to help you. Think about how you might need help every day or every week as you get older, like driving to the doctor or the store.
Living in a More Affordable City
Moving to a new city can save you money during retirement, just like downsizing your home. You could leave the city where your office is and move to the suburbs when you’re done working. Since you’ll be retired, you’ll have much more time to travel and go on vacation. Moving to a cheaper city might be a good idea if you want to travel more.
Moving to a More Temperate Climate
What’s your favorite kind of weather? Most retirees like warm, sunny weather, which is why they are called “snowbirds.” During the winter, snowbirds tend to flock to Florida. Since you’re bored with the snow and sleet, you should move to a place where the weather is warmer.
Going Where Your Hobbies Are
Do you have pleasures or things you like to do that take you away from home? Now is the perfect way to start doing those things! When you retire, you don’t see nearly as many people as you did when you worked, so losing your sense of community is easy. Hobbies are a great way to stay active in your community and keep your mind in good shape.
There are many reasons to move when you retire, and each person will have their own. Some want to live in a smaller space, while others might want to be closer to their grandchildren. It would assist if you discussed it with your financial retirement planner, no matter why you want to do this.
Best Places Lists
You’ve found the proper place if you’re looking for the most acceptable states to retire in 2022. The cost of living, the quality, and accessibility of healthcare, the environment, and general quality of life are all factors we take into account.
Here are the top 10 states for retiring in 2022
- Florida: There’s a good reason why many retirees settle there. The state boasts pleasant weather all year round and no personal income tax, making it an ideal alternative for individuals who want to spend their golden years in the sun. Furthermore, Florida has a sizable number of retirement communities that can offer inhabitants social and recreational activities.
- Arizona: Due to its pleasant weather and lack of a personal income tax, Arizona, like Florida, is a well-liked retirement destination. The state’s comparatively low cost of living is a key plus for retirees on a fixed income. Arizona is also home to several top-notch golf courses, making it a haven for golf fans.
- Nevada: Another state without a personal income tax, Nevada is a popular option for retirees. The state is also home to several renowned casinos and resorts and a comparatively low cost of living. Additionally, Nevada boasts some of the most excellent healthcare in the nation, which is crucial for retirees to consider.
- New Hampshire: New Hampshire is a fantastic option for retirees who wish to live luxuriously without breaking the bank. The state provides stunning landscapes, plenty of outdoor recreation choices, and no income or sales taxes. A significant factor for retirees is that New Hampshire has some of the best healthcare in the nation.
- South Dakota: Another state without a personal income tax, South Dakota is a popular option for retirees. The state is also home to many lovely parks and recreational places and has a low cost of living. A significant factor for retirees is that South Dakota has some of the best healthcare in the nation.
- Virginia: Virginia is a fantastic option for retirees who wish to live luxuriously without breaking the bank. The state provides stunning landscapes, plenty of outdoor recreation choices, and no income or sales taxes. Virginia also offers some of the best healthcare in the nation, which is another important factor for retirees.
- Wyoming: is another state without a personal income tax, which makes it a desirable option for retirees. The state is also home to many lovely parks and recreational places and has a low cost of living. Furthermore, Wyoming boasts some of the most outstanding medical facilities in the nation, which is an essential factor for retirees.
- Alaska: Alaska is a fantastic option for retirees who wish to live luxuriously without breaking the bank. The state provides stunning landscapes, plenty of outdoor recreation choices, and no income or sales taxes. A significant factor for retirees is that Alaska Provides some of the most acceptable medical treatment in the nation.
- Maine: Maine is a fantastic option for retirees who wish to live luxuriously without breaking the bank. The state provides stunning landscapes, plenty of outdoor recreation choices, and no income or sales taxes. A significant factor for retirees is that Maine has some of the systems of medicine in the nation.
- Hawaii: Hawaii is a fantastic option for retirees who wish to live luxuriously without breaking the bank. The state provides stunning landscapes, plenty of outdoor recreation choices, and no income or sales taxes. Hawaii also offers some of the best healthcare in the nation, which is essential for retirees.
The states above are all fantastic options for retirees who want to live luxuriously without breaking the bank. Each state has its advantages, but they all offer a great mix of low prices, beautiful scenery, and a wide range of outdoor activities. Each state has a few of the most effective treatments in the country, which is crucial for retired people.
Quirky Retirement Locales
If you want an exciting place to retire in the United States, consider some more unusual options. Everyone can find something to like, from a tropical island to a ghost town! List of six distinct retirement areas across the country.
- Hilo, Hawaii – If you want to retire somewhere with pleasant weather all year long, Hilo is the spot for you! This Hawaiian town’s lush rainforests and stunning waterfalls have made it well-known. There are also many possibilities to be active, with popular sports like kayaking, riding, and hiking.
- Silver City, New Mexico – If you love the old west, Silver City might be the perfect place for you to retire. This old mining town still exudes a Wild West vibe with its broad Main Street and historical structures. Silver City offers diverse activities, including museums, art galleries, and a thriving music scene.
- Ajo, Arizona –This desert community in southwest Arizona is a popular retirement location with an average annual temperature of 70 degrees. Hiking, biking, and bird watching are all well-liked outdoor pursuits in this little town, making it ideal for individuals who love the great outdoors. The well-preserved Spanish colonial mission at Ajo offers many historical exploration opportunities.
- St. George, Utah -If you’re looking for a retirement location with lots to do, St. George, Utah, should be at the top of your list. This small city is recognized for its various outdoor leisure activities and is situated in the picturesque southwestern region of Utah. Golf, biking, and hiking are all well-liked pastimes in St. George.
- Mackinac Island, Michigan – If you want to retire somewhere a little off the main path, think about Mackinac Island in Michigan. This tiny island, which can only be reached by ferry, has many exciting stores and eateries. With its numerous Victorian-era homes, Mackinac Island also offers a ton of history to discover.
- Jerome, Arizona – is last on our list of odd retirement locations. Originally a thriving copper mining settlement, this little town is today a well-liked tourist destination. Jerome is renowned for its unusual architecture and steep streets and offers a ton of entertainment with its restaurants, art galleries, and antique stores.
Best Places to Retire Abroad
Are you looking for a retirement community that has something for everyone? If so, consider retiring overseas to one of the many beautiful locations.
These nations provide:
- Breathtaking landscapes.
- A low cost of living.
- An abundance of facilities to keep you occupied.
The top ten international locations for retirement:
Portugal is one of three European countries that made it into the top 10. Aside from the beautiful scenery, this European coastal town is popular with ex-pats because of the low standard of living but so many aspects of doing. Because English is taught in schools, it’s easier for Americans to talk to people in the area. There are a lot of islands to visit, the prices are low, and there are a lot of different kinds of restaurants. Portugal got the best housing, climate, cost of living, and health care scores.
Costa Rica is a gorgeous place to go if you want to live a healthy, active life. It did well in healthcare, development, and government, and there is much to see and do there. Even on a small retirement budget, Costa Rica is a stunning destination to visit if you want to cheap. Of 25 countries, Costa Rica’s cost of living was 84, and housing was 74. If you desire to purchase a property, you can find cheap ones with property taxes that are a small fraction of what you would pay in the U.S.
Mexico has both modern amenities and a rustic feel. It’s a good place for retirees who like warm weather and is close to the U.S. International Living gave it the highest marks for entertainment, amenities, and how easy it was to set up a home there. A temporary resident visa is good for up to four years and can be given to retirees who meet certain income or asset requirements or own property in Mexico. If you want to stay for a long time, you can apply for a permanent resident visa, which has more strict requirements for your income and assets.
There is something for everyone in Colombia, and you want to go to the beach, the mountains, or the rainforest. There are a lot of direct flights from Florida to any major city in Colombia, and these cities are an excellent mix of colonial and modern. Retirement visas are easy to get if you can prove that you have enough money for retirement, but they need to be renewed every three years.
The World Health Organization puts Colombia’s low-cost, high-quality healthcare system at number 22. The USA and Canada should be both in their 30s. According to people who live there, health insurance premiums in Colombia are about 70% less than in the U.S. Overall, the cost of living got a high score of 89, which means you can get more out of your retirement money. Belize:
Belize is another excellent place for retirees because it has a laid-back atmosphere, beautiful beaches, and a low cost of living.
Ecuador should be at the top of your ranking if you want to retire somewhere cheap and beautiful outside your home country. This South American country has a laid-back vibe, beautiful beaches, and a low cost of living, so it’s no surprise that retirees are moving there in droves.
On your list of priorities is if you wish to have something for everyone, whether you like the beach, the mountains, or even exploring the rainforest. And since it is close to the equator and has a mild climate, you can enjoy sunshine all year.
Not only is Ecuador cheap, but the quality of life there is also excellent, and international living ranked it as having the 12th best quality of life in the world. And you can feel safe and secure in your new home because it has a sound health care system and a low crime rate.
Living expenses are considered one of the best things about retiring in Malaysia. Even if you are on a fixed income, it is very cheap to live here. You can also do many things to keep busy, and the scenery is gorgeous. You’ll never have to worry about being too hot or cold because the weather is always perfect. And because there are so many ex-pats in Malaysia, you’ll never feel lonely. Malaysia is the best place to go unless You’re trying to find an affordable spot to retire or want to spend your golden years in a beautiful and fun area.
Vietnam has something to offer everyone, whether you want to spend your retirement exploring the country’s many natural wonders, taking in the country’s rich culture, or just enjoying a slower pace of life. With a low cost of living and friendly people, it’s no surprise that more and more retirees are choosing to live in Vietnam. So, if you want to retire in Vietnam, Here are some of the best destinations.
Best Places for Retirement Taxes
Alaska is a great place for retired people who want to stay active. There are several ways to experience the scenery in the state, such as boating, skiing, and hunting. Alaska doesn’t charge taxes on income, sales, pensions, or Social Security. Permanent residents of Alaska also get a monthly payment from the state’s money from selling oil. So, Alaska is a good choice if you want to retire somewhere with a lavish lifestyle and good financial benefits.
Florida is a great place to retire for a lot of different reasons. The weather is warm and sunny, there are many things to do, and the cost of living isn’t too high. Only 6% of purchases are taxed, saving you a lot of money compared to other states. And Florida doesn’t tax Social Security or pensions, which is a big plus for retirees.
There’s a lot to do in Florida, whether you like going to museums, playing golf, going to the beach, or going on nature trips. And there’s something for everyone, from quiet bays to busy cities to beaches with white sand. Also, Florida has excellent food, grand buildings, and rich culture. So, if you want a place to retire that has everything, you should think about Florida.
Mississippi is a great place for retired people. There are several ways to enjoy the outdoors for people who want to stay busy. There are many ways to experience the outdoors in the state, such as boating, skiing, and hunting. Plus, there are no taxes in Mississippi, and the state doesn’t charge taxes on income, sales, pensions, or Social Security. Permanent residents of Mississippi also get a monthly payment from the state’s money from oil production. Consequently, if you’re seeking a place to retire with a lavish lifestyle and good financial benefits, you should consider Mississippi.
Mississippi is a great place to retire if you want to keep busy later. The state has a lot of outdoor activities, and it also has tax breaks that can help you stretch your retirement savings. And with the money it gets every year from oil production, Mississippi gives its permanent residents a little more financial security. Mississippi is a good choice if you’re looking for a place to retire that will provide you with a good life and peace of mind.
Many things make Uruguay a great place to retire. Living costs are meager; you get by on as little as $500 a month. There are no taxes on income from retirement, allowing you to maintain more of the money you’ve worked so hard to earn. The country has lots of sun, beautiful beaches, and rich culture. The infrastructure is good, and the number of people who can read and write is high, so you can be sure you’ll have access to all the services and amenities you need. Uruguay is a great place to retire.
Uruguay could be your ideal retirement destination. The country has a vital infrastructure, a high literacy rate, and a rich culture. The cost of living in Uruguay is low—as low as $500 a month—and only workers are taxed (30% of their income), and income from retirement is not taxed. Uruguay is a country with beaches, sun, and lively culture.
The tropical weather is one of the best things about Panama as a place to retire. Thus, warm weather is possible all year long., which is excellent if you like being outside or just don’t like cold winters. In addition to having nice weather, Panama also has meager prices, making a living here very affordable. No taxes on money are kept outside the country, which is another big plus. Thus, you can save more than you want without worrying about the government taking a cut.
The only bad thing about Panama is that it has a sales tax of 20%, which is a bit high. But you can compensate for this by renting a home instead of buying one. Panama has a lot to offer regarding stuff to do, places to have seen, and ways of life. It’s also safe and easy to get around, so it’s an excellent place for retirees. Panama is a good place to go unless you choose to have an adventure or relax.
Thailand is a great place to retire for many different reasons. The tropical climate is excellent for retirees who want to enjoy the outdoors, and the low cost of living makes it an affordable place to live. Also, Thailand does not wish to tax money kept outside of the country, which makes it a great place to save money. And finally, the government is full of things to do, places to see, and ways of life that retirees will enjoy. So, if you want to retire somewhere with everything, Thailand is a great choice.
Some of the best things about retiring in Thailand are the climate, which is excellent for people who want to be outside all year, the low cost of living, which makes it easy to live comfortably, and the variety of activities, scenery, and culture in Thailand. Thailand should be on your list of priorities if you wish to retire somewhere that has everything.
The standard of living in the Philippines is much lower than in most developed countries, making it a good area for retirees. Also, the beaches are similar to Florida, which makes the country a popular choice for people who want to live abroad.
In the Philippines, places like Laguna, Subic, and Cavite are popular places for people to retire. Due to its low cost of living, many retirees see the Philippines as a utopia.
One good thing about retiring in the Philippines is that you don’t have to pay income tax on your retirement income. The property taxes, however, are pretty high, ranging from 1% to 2%. The capital gains tax is also six percent, but the higher sales tax of twelve percent makes up for that.
If you decide to retire in the Philippines, finding out what kind of visa you need is essential. Retired people can get a retirement visa, letting them reside in the country for a long time, and you must meet the requirements to get this type of visa.
In conclusion, retirees go to the Philippines because the living costs are lesser and the beaches are beautiful. There are retirement communities all over the country, and older people may be able to get a retirement visa. Before you consider retirement in the Philippines, you should consider what you need to do to get this type of visa.
The Better Places in the World to Retire
France is a great place to go unless You desire to reside in a city with all the amenities that come with it. The country has a lot of history and culture, and its cities are full of things to do and see. France is a great place to live if you are retired or getting close to retirement.
When choosing whether or not to retire in France, there are a few things to consider. France has a high cost of living, but it varies from place to place, and living costs are much lower in rural areas than in big cities like Paris or Marseille. Also, the sales tax in France is high at 20%, so be sure to plan for that when you decide what to buy.
Honduras has one of the best ways of life in the world because of its friendly people, beautiful beaches, fresh food, reliable infrastructure, and low cost of living. It is among the most reasonably priced places to live in the world, and its cost of living is one-third to one-half less than that of its Central American neighbors. In the most expensive parts of Honduras, an $80,000 home with three bedrooms, a pool, tennis court, maid’s quarters, and a lot of land costs that much. The phone, electricity, air conditioning, and live-in housekeeping cost $150 per month.
Honduras is a terrific location to retire if you intend to invest your days basking in the sunlight and strolling on the coastline.
In recent years, more and more citizens from all over the world are retiring to Italy. It’s easy to see why! There is a lot of history, culture, and natural beauty to see in the country.
There are several aspects to consider if you’re considering retiring in Italy. First, it has one of the highest living costs in the E.U. But this is very different depending on where you choose to live. For example, the cost of living in Northern Italy is much higher than in the South.
Your housing situation is another essential factor to consider. On average, it costs $1667 a month to rent a two-bedroom home that is fully furnished. Again, though, this will depend on where you are. If you want something cheaper, think about a smaller town or village.
Regarding retirement, there are only so many answers that work for everyone. But if you want to visit a country with a lot of history and culture, Italy is a great choice.
Many things make New Zealand a great place to retire. The beaches are beautiful, there are many things to do outside, and the cultural sites are among the best in the world. Also, most health care is free, and the cities are clean and modern. Even though New Zealand is cheaper than Ecuador, it is still relatively inexpensive for people in the United States. You can live modestly in New Zealand for $700 U.S. per month or in style for $43,000. Overall, New Zealand is an excellent choice for retirees who want a place to live that is cheap, beautiful, and safe.
4 Ways to Determine What is Best for You
Here’s how to figure out what’s best for you in four steps:
Analyze Your Goals for Retirement Before Looking for the Best Places to Retire
Once searching for the best places to retire should consider what’s essential. Want to live close to your family? Do you want it to be warm all the time? Do you like to reside in a city? Or out in the country? Even if you’ve answered these questions, you can begin looking at lists of the best places to retire. But only choose somewhere if it’s on a list. Make sure the site you choose fits with what you intend to do after retiring. If you desire to be near your family, you should look for places where they live. If you want warm weather all year long, you should look for sites with a warm climate. Unless you want to live in a city, you should look for places where a lot is going on. Ultimately, you should find a place that works best for YOU—only a location on a site among the best places to retire. So, think about what you want to do before you look for the best places to retire. So you can be sure that your chosen location is best for you.
Study Your Financial Situation to Find the Best Retirement Locations for You
Most likely, your income in retirement will come from a mix of Social Security, pensions, and savings. It’s essential to look closely at all of these ways to make money and figure out how often money you can consider getting each month. Then, look at what you think your monthly costs will be. Includes fixed expenses, like your mortgage or rent, and variable costs, like groceries and going out.
Once you know how much you make and spend each month, you can start looking at different places and determining which ones fit your budget.
Get Creative — Think Outside the Box
In retirement, there are many ways to get creative with where you live. One option is to think about moving to a place where things cost less. It could mean moving to a less expensive city or town or a smaller home. You could also rent out a part of your house to make extra money. It can be a great way to lower your living costs and make retirement more affordable.
You have many choices if you can think outside the box about where to live. You can get the best place to retire if you do some research and look at all your options.
Finding the best retirement place can be a fun project that takes years. Take some vacations to the places you want to learn more about, and then try it out for a longer time. You can use a provider like Airbnb to rent out your current home and give your ideal location a six-month test run.
Final Thought – Best Places to Retire
When you retire abroad, living costs are often less than where you live now. You’ll also see and do new things and learn about new cultures. If you’re looking for places to retire that are cheap and have great weather, the best locations mentioned above are great options.
The next thing you should do to find the best place to retire is to learn more about these countries. Look at different places to stay and learn more about cities and areas. By doing this, you’ll be able to find the perfect place to retire.