Where to retire is an important decision. After a lifetime of working, you want to be able to enjoy your retirement for as long as you can. The weather should be pleasant, and there should be plenty of entertainment options and access to quality healthcare, all at a low or reasonable cost of living. Based on these factors, here are our recommendations for the five best places for seniors to retire overseas.
Read: These Are the Best States to Retire
5 Best Places to Retire Overseas for Seniors
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Algarve, Portugal
Portugal tops just about every best place to retire list, including International Living, Forbes and Business Insider. And for good reason. Algarve, the country’s southern coast is particularly attractive. The area boasts around 3,300 hours of sunshine annually, ideal for taking advantage of some of Europe’s best beaches and golf courses. The region also has a rich history and culture, as well as wonderful food and wine options.
The cost of living in Portugal is also reasonable, particularly for the region – it’s about 30% cheaper than most other countries in Western Europe. You can live comfortably on about $3,000 a month. There’s an established expat community in Algarve, and English is widely spoken. Good healthcare is affordable here – residents have access to public hospitals and those over 65 can receive subsidized prescription medication.
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Cuenca, Ecuador
Cuenca, a UNESCO World Heritage Site, is an appealing option for those looking to retire overseas. This city is renowned for its beautiful historical district and a vibrant arts and culture scene. It also hosts one of the largest retired expat communities globally. Living costs in Cuenca are significantly lower than in the US, with rental prices about 70% cheaper and consumer prices around 40% less.
A couple can comfortably live on less than $2,000 a month. Expats over 65 benefit from numerous discounts and minimal or no taxes. The official currency is the U.S. dollar, eliminating foreign exchange worries. Cuenca boasts several reputable hospitals, and medical services and medications are affordable. Expats can also join Ecuador’s Social Security healthcare system. The city’s elevation ensures mild, spring-like weather throughout the year, enhancing its appeal as a retirement destination.
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Puerto Vallarta, Mexico
For a lifestyle similar to Southern California at a fraction of the price, look no further than Puerto Vallarta along Mexico’s Pacific coast. As a beach resort town, there are plenty of dining, shopping and entertainment options, as well as water sports and outdoor activities. Several top golf courses are nearby.
There’s an active expat community. Healthcare is top notch and cheap. Once registered as residents, expats can take advantage of Mexico’s good public healthcare system. And while Puerto Vallarta is not the cheapest locale in Mexico, a couple can expect to live well on $3,000 a month. Puerto Vallarta is also one of the safer places in Mexico. Temperatures are balmy and tropical and range from the 60s in the winter to the 90s in the summer. Puerto Vallarta is also easily accessible from the US and other locations.
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Abruzzo, Italy
Situated along the Adriatic Coast in central Italy, the region of Abruzzo offers old world charm, a slower pace of life and high quality of life at an affordable price. The cost of living is very reasonable here, and much cheaper than most other areas in Italy. A couple can expect to live well on less than $2,000 a month.
There are many quaint historic towns, beautiful beaches, mountains, plenty of culture, art and excellent food and wine. There are also three national parks here, and plenty of outdoor sports and activities. Rome is only an hour’s drive away, and there’s good access to the rest of Europe and the world. The weather is mild year round, with minimal need for air conditioning or heating. The healthcare is ranked second in the world and residents, including expats, have access to the Italian National Health Service for a low cost.
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Chiang Mai, Thailand
Chiang Mai, the largest and most culturally significant city in Northern Thailand, is an excellent destination for those looking to retire overseas. This city combines the advantages of urban living with budget-friendly prices. It boasts modern infrastructure, a relaxed atmosphere, and a vibrant expat community of over 30,000 residents.
You can enjoy a comfortable life here for less than $2,000 a month, with access to excellent and affordable healthcare that attracts international visitors. Obtaining a retirement visa is straightforward; you just need to be over 50 and open a retirement account with at least $25,000. Chiang Mai’s major airport provides easy travel to Thailand’s beaches or international cities. The warm, tropical climate is perfect for retirees seeking to avoid colder weather.