Table of Contents Hide
- 10 Best Places to Retire in the World In 2023
- Which States Do Not Tax Social Security or Pension Benefits?
- What Are the Cheapest Places to Retire In The World In 2023?
- Which Places in the World Have the Best Quality of Life For Seniors Willing To Retire?
- Best Places To Retire In The World FAQs
- What is the safest country to retire in?
- What states don’t tax retirement income?
As global travel has increased over the years, many seniors wish to continue the experience of traveling to different places in the world by retiring overseas. Others relocate to other areas to increase the value of their retirement income or to get new experiences. According to recent Social Security Administration figures, almost 700,000 Americans receive their benefits abroad.
Health care, visa regulations, local culture, taxes, and living costs are all factors to consider when deciding the places to retire in the world. With so many factors to consider, it’s best to seek professional guidance, and experts advise spending at least six months in a suitable retirement location before making the move. The United States State Department is also a great resource for anyone thinking about retiring overseas. Here are ten of the best places in the world to retire.
10 Best Places to Retire in the World In 2023
Where are the places in the world that will provide the best opportunities for seniors that wish to retire overseas this year? The answers can be found in our brand-new 2023 Overseas Retirement Index. Here is a summary of the results…
#10. The Dominican Republic
The Dominican Republic provides one of the world’s quickest and easiest procedures for naturalization.
- It’s only a short flight from the US and Canada.
- It has all the trappings of a Caribbean paradise but at a fraction of the cost.
Why Should I Retire To the Dominican Republic?
If you’ve always wanted to visit the Caribbean but thought you couldn’t afford it, we have excellent news for you: the Dominican Republic provides everything you want at a price you can’t refuse.
You’ll discover white-sand beaches, swaying palm trees, a warm turquoise sea, and year-round sunshine in abundance in the Dominican Republic, which has about 800 kilometers of coastal coastline…
In the Dominican Republic, where should I retire?
Las Terrenas is a diverse, ethnic Caribbean beach hamlet in the Dominican Republic’s Samaná Peninsula, a finger of land jutting out from the country’s northeast coast.
It has some of the most stunning beaches in the country… It is surrounded by mountains and has plenty of palm palms to provide shade.
For decades, European ex-pats have lived in Las Terrenas, founding companies and creating a close-knit, varied community. Each nationality brings its unique flavor to town, resulting in a cosmopolitan blend that is unusual for a Caribbean island.
- Thailand’s cost of living can be quite low.
- Thailand boasts great healthcare facilities and is a popular medical tourism destination.
- It’s a world-class golf destination, with courses of the highest caliber all around the country.
Why Should I Move to Thailand to Retire?
Thailand has a lot to offer, including beautiful beaches, friendly inhabitants, and well-established ex-pat communities. Thailand has great health care (at about one-fifth the cost of health care in the United States) and simple retirement visa alternatives. Furthermore, it is one of the few Southeast Asian countries where foreigners can own some form of property.
In Thailand, where should I retire?
Phuket is Thailand’s well-known jet-set resort, with a global reputation for its beautiful beaches… and rightly so. This island, the country’s third largest, has soft, sandy beaches separated by rocky headlands and caressed by the warm seas of the Andaman Sea.
Phuket also has a sizable ex-pat population of 100,000 people, accounting for roughly 20% of the permanent population. English is widely spoken and understood as a magnet for ex-pats from all over the world, including the United States, Canada, the United Kingdom, Scandinavia, and others. The clean beaches, scenic mountain views, and mild tropical climate draw the majority of ex-pats and retirees…
Ecuador’s official currency is the US dollar.
- In Latin America, the cost of living is low, while the cost of real estate is near the bottom.
- Health care is of good quality, trustworthy, and reasonably priced.
Why Should I Move to Ecuador to Retire?
Ecuador has long been a popular destination for ex-pats and retirees, owing to its low cost of living and nice climate. It’s a little country, but it packs a punch, with plenty to see and do, including visiting the capital city, seeing historic areas, trekking in the highlands, and relaxing on the beaches.
The main advantage Ecuador has over the United States is the ability to live better for less money. If saving money is a primary motivator for your retirement plans, Ecuador should be on your list.
In Ecuador, where should I retire?
Salinas is one of the best places to live in Ecuador. It is sometimes known as Little Miami. Salinas has long been a popular vacation destination for Ecuadorians. Tourists from other countries have just begun to arrive…
Expats have also arrived to take advantage of Ecuador’s extraordinarily low cost of living. There are about 6,000 of them here, making it one of the most popular ex-pat communities in the country.
In contrast to Miami, property in Salinas may be purchased for $100,000. If you want to buy a condo as a place to live or as a rental property, now is a great moment to do it.
According to the World Health Organization, Italy has the world’s second-best healthcare system.
- Italy represents Old World living with its history, architecture, art, wonderful food, and wine.
- It has a strong connection to its past, with hundreds of ruins evident throughout the country.
Why Should I Move to Italy to Retire?
Italy deserves your attention if you’re looking for the ultimate Old World lifestyle. The old towns are charming, as is the countryside between them. Even if you exclude the major cities such as Rome, there is enough to keep you interested and sustain a fully equipped life on the Continent. Furthermore, life might be much more economical here than at home…
In Italy, where should I retire?
Città Sant’Angelo, a hamlet of around 15,000 people nestled in the lush hills of Abruzzo, is one of the region’s most culturally rich. Walking through Città’s stone streets feels like you’re in another world…
This 9th-century medieval town between two rivers is home to gorgeous palazzi, piazzas, churches, and monasteries. Quaint storefronts are home to butchers, bakers, pasta makers, and pharmacists, with inhabitants popping in and out to get their daily shopping done…
The way of life here dates back hundreds of years…not much has changed in that period, and that’s how the locals want it.
The English-speaking inhabitants of Ireland are clever and welcoming.
- It’s rich in history, culture, and legend, and the scenery is breathtaking.
- It provides a high level of living, including high-quality health care.
Why Should I Move to Ireland to Retire?
The Emerald Isle is endowed with breathtaking natural beauty, a rich history and legacy, lovely medieval villages, a strong feeling of community, and an abundance of activities to keep anybody entertained.
In Ireland, where should I retire?
County Clare is one of Ireland’s best-kept secrets. It’s where the Irish go when they need to get away. It is located in the Mid-West Region of the United States, along the country’s west coast, and is surrounded by magnificent cliffs that look out broodingly over the Atlantic Ocean…
Clare entices people with its natural beauty: long, white-sand beaches with surfable waves, rolling sand dunes, and patchwork green fields… On top of its charming locals, culture, and history, Clare entices people with its natural beauty: long, white-sand beaches with surfable waves, rolling sand dunes, and patchwork green fields. The world-famous Burren National Park, a glaciated karst terrain, is located here.
According to the World Health Organization, France has the best healthcare system in the world.
- France has a world-class infrastructure, including well-established transportation systems such as railways, metros, taxis, and buses.
- The residency application process is relatively basic and straightforward.
Why Should I Retire In France?
France defines the good life. Food, wine, art, shopping, history… This country has the most beautiful and romantic city on the planet, as well as the best of country living and stunning Mediterranean and Atlantic coasts. On top of that, France has the world’s best health care, infrastructure, top international schools, and a relaxing way of life… And, in some regions of the country, the very excellent living is also extremely affordable.
In France, where should I retire?
Paris has it all, with hundreds of museums and galleries, one of the liveliest café cultures and some of the world’s most revered cuisine, space to lounge in parks and on riverbanks… plus a superb and affordable public transportation system and other modern amenities, including top-notch health care.
You won’t find more history, culture, and character per square meter anywhere else… Paris is one of the world’s most cosmopolitan cities, but all that opulence comes at a price. France would never be considered a bargain vacation; nevertheless, outside of Paris, this country might be considerably more reasonable than you might think…
#4. Cyprus Northwestern Region
- Real estate, including beachfront property, is ridiculously cheap.
- Northern Cyprus is set to become Europe’s next big vacation destination.
- Because the Turkish lira is the native currency, the currency exchange works in your favor.
Why Should I Retire in Northern Cyprus?
This island destination halfway around the world offers year-round sunlight, pristine beaches, and clear-blue oceans… everything you could desire in a perfect escape.
English is widely spoken, and doing business is simple. The ex-pat community is huge and hospitable, the culture is diverse, and crime rates are low…
The real kicker, though, is the incredible low-cost property investment prospects available. New residences in sophisticated complexes with amenities start at around $70,000 USD.
In Northern Cyprus, where should I retire?
Iskele, on the island’s eastern coast, is famous for having the best and longest stretch of beach on the island, as well as for its seafood specialties…
Kyrenia is a small village on Northern Cyprus’s northern coast, nestled between the Kyrenia Mountains and the warm seas of the Mediterranean. It has beachfront hotels, restaurants, and beach clubs, but it is best known for its historic port and castle.
Famagusta is a picturesque city of roughly 50,000 people located on the southeast coast of Northern Cyprus. It is a walled city encircled by roughly rectangular Venetian ramparts built in the 15th and 16th centuries.
- Belize’s official language is English.
- Belize taxes on a jurisdictional basis, which means that you are only taxed on income earned in the country.
- The Qualified Retired Person (QRP) visa is one of the world’s best retirement residency schemes.
Why Should I Move to Belize to Retire?
Belize is a safe, hospitable, and unassuming little country where people cherish personal privacy, self-determination, and independence. Belize, once the heart of the Maya Empire, is now known for its white-sand Caribbean beaches and clean, unpolluted seas.
The QRP visa in Belize is one of the most rapid pathways to foreign residency in the Americas. It is open to anybody over the age of 45 and provides a slew of benefits, including tax-free imports of home goods, autos, boats, and even airplanes.
In Belize, where should I retire?
The Cayo District is a lovely, friendly, and eccentric part of the world. Cayo is a frontier land of rivers and rain forests located on the mainland in western Belize. The responsibilities and anxieties of the rest of the world seem distant and trivial from here.
The place has long held a certain enchantment… Its rich history extends back thousands of years. Maya relics are scattered over the vast natural environment and are an integral component of what is now a thriving bohemian community.
This distinct region has developed an open-minded identity that promotes healthy living, art, agriculture, environmental preservation, and diversity in recent years.
Mexico is the most accessible retire-abroad destination for Americans and Canadians. You can even drive yourself here.
- It has large and well-established ex-pat communities around the country.
- It provides a generous tourist visa of 180 days.
Why Should I Move to Mexico to Retire?
Mexico is a popular foreign retirement destination for several reasons: it’s simple to get to from the United States and Canada, it has mild year-round weather, it has two coastlines with beautiful beaches, and it has a low cost of living for those trying to stretch their retirement budgets. The country is familiar, with many of the stores and brands that Americans and Canadians are accustomed to, as well as ex-pat communities established throughout the country.
Where in Mexico Should I Retire?
Vallarta, Puerto Vallarta
Puerto Vallarta is on Mexico’s Pacific Coast, in the picturesque Banderas Bay, encircled by the Sierra Madre mountains. Puerto Vallarta, a long-time favorite of seniors and spring-breakers, is now attracting ex-pats and digital nomads as well. Something about this place really draws folks in…
With the water on one side and the mountains on the other, there are numerous activities available. Real estate, while more expensive than in previous years, remains an excellent buy.
Portugal has many residency options, including the fast-track Portuguese Golden Visa.
- It is the world’s third safest country.
- It is historically, culturally, and naturally beautiful.
Why Should I Move to Portugal to Retire?
Portugal is our all-time favorite retire-abroad location. It boasts a low cost of living, simple residency requirements, and tax breaks for international residents. It also features fantastic food, more sunshine than anywhere else in Europe, some of Europe’s best beaches and golf, outstanding infrastructure, and a sizable English-speaking community. Access is simple and inexpensive, making this a fantastic base from which to explore the entire continent.
In Portugal, where should I retire?
Comporta is a burgeoning town in the Alentejo region of Portugal, about 90 minutes south of Lisbon. It’s been hailed as Europe’s Hamptons… compared to Saint-Tropez, Ibiza, and Uruguay’s José Ignacio… but Comporta has its own allure.
It has vast stretches of beautiful, white-gold beaches, frothy Atlantic waves, and rough landscapes, including scrabbly sand dunes, pine forests, areas of yellow wildflowers, and so many rice fields that you may mistake it for Southeast Asia.
It has been unaffected by development for many years and appears much the same as it did 50 years ago. The result is a sophisticated beach outpost lost in time… Comporta has a comfortable sophistication that some describe as “hippie chic.”
Which States Do Not Tax Social Security or Pension Benefits?
Taxes are a significant portion of your retirement budget. Fortunately, most jurisdictions do not tax retirement distributions, which means your retirement funds may last longer. 401(k), IRA, and pension payouts are not taxed in the following twelve states:
- New Hampshire State
- Dakota State
What Are the Cheapest Places to Retire In The World In 2023?
Bali, Indonesia, Bolivia, and Cambodia are the cheapest places in the world to retire, according to International Living’s Annual Global Retirement Index 2022.
Which Places in the World Have the Best Quality of Life For Seniors Willing To Retire?
U.S. News ranked the 2021 Best Countries in collaboration with the University of Pennsylvania’s Wharton School and BAV Group. Quality of Life is one of the sub-rankings, and it is based on nine quality-of-life attributes: inexpensive, job market, economic stability, family-friendly, income equality, political stability, safety, public education, and public health. The top ten places to retire with the best quality of life in the world are (in descending order):
- The United Kingdom
- New Zealand’s
If you decide to retire overseas, do your research ahead of time, use common sense, and avoid (or exercise extreme caution) places with active travel alerts and warnings (see the U.S. Department of State’s Alerts and Travel Warnings). The rules and regulations differ from country to country, including visa and residency requirements. Furthermore, taxes for those who retire abroad might be rather problematic. As a result, when planning to retire overseas, it is usually advisable to consult with a skilled attorney and/or tax specialist.
Best Places To Retire In The World FAQs
What is the safest country to retire in?
Iceland. Although Canada is the closest, if you sail east a little more than halfway between North America and Northern Europe, you’ll come across Iceland, which has been named the safest country in the world every year since the mid-2000s.
What states don’t tax retirement income?
Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming are among the eight states that do not tax wages, salaries, dividends, interest, or any other type of income.
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