The Best Places to Retire Overseas

There are many things to consider when it comes to retirement. Besides the financial aspect, there is also the location to consider. Would you rather retire where you've lived all your life? Would you prefer to move to the city? Maybe the country?

Maybe even another country altogether? That's right! Just because you're retired doesn't mean that you have to give up on having new adventures. Consider retiring to a foreign country like France or Spain, where the history is rich, there are ancient cities and architecture to explore, and amazing art and culture to soak up. Many countries have a treaty in place with the United States so that expatriates don't get taxed by both countries on their income and where the cost of living is much cheaper.

We did some research and looked into the cost of living, rent averages, things to do, climate, and the ease with which one could attain retirement residency status in a foreign country. Read on to find the 25 best places to retire overseas.

Norway

Norway is an ideal retirement destination, boasting an excellent quality of life and top-tier healthcare. Despite a high cost of living, averaging $1,500 for monthly rent, the country's superior material well-being and income per capita make it a worthwhile choice.

With stunning natural landscapes, rich cultural activities, and a well-maintained water and sanitation system, retirees have plenty to explore. While attaining residency requires careful planning, Norway's strong social services and low unemployment add to its appeal.

Switzerland

Switzerland, ranked second in the Global Retirement Index, is a top choice for retirees. With its excellent material well-being, low unemployment, and robust finances, it's ideal for a comfortable retirement. The cost of living is high, with rent averaging $1,600 monthly for a one-bedroom apartment.

Enjoy outdoor activities in the Swiss Alps, cultural events in cities like Zurich and Geneva, and a mild climate. Obtaining retirement residency is straightforward, making Switzerland a welcoming destination.

Iceland

Iceland is an excellent choice for retirees seeking a high quality of life. With an impressive GRI score of 81%, the country boasts low unemployment and high environmental standards. Though the cost of living is higher than many other destinations, the average rent is reasonable, especially outside Reykjavik.

Retirees can enjoy stunning landscapes, geothermal spas, and a healthy lifestyle. Attaining retirement residency is straightforward, making Iceland a desirable retirement haven.

Ireland

Ireland offers a picturesque and vibrant retirement destination, ranking high in wellbeing and financial security. The cost of living is moderate, with average rents around €1,500 monthly in cities and lower in rural areas. The mild climate, rich cultural heritage, and stunning landscapes provide endless activities, from exploring ancient castles to enjoying traditional music.

Retirees benefit from an improving economy and easy residency processes. Though biodiversity challenges persist, Ireland remains a charming and engaging place to retire.

Luxembourg

Luxembourg, ranking 5th in the best places to retire overseas, offers a high quality of life with an improved financial environment. The cost of living is higher, but residents benefit from excellent public services. Rent averages around €1,800 monthly. The country boasts picturesque landscapes, historical sites, and a vibrant cultural scene.

The temperate climate is pleasant year-round. Retirees find it relatively straightforward to attain residency, making Luxembourg an attractive option for a secure and enriching retirement.

Netherlands

The Netherlands ranks 6th among the best places to retire overseas. With a solid performance in finances and quality of life, retirees enjoy a high standard of living. Average rent is reasonable, and the cost of living is moderate. The country offers rich cultural experiences, picturesque landscapes, and a temperate climate.

Attaining retirement residency is straightforward, and the robust healthcare and pension systems add to its appeal. Despite recent inflation, the Netherlands remains a top retirement destination.

Australia

Australia is an enticing retirement destination, ranking 7th in the 2023 Global Retirement Index. The cost of living is moderate, with average rents around $1,200 per month. The country offers a plethora of activities, from exploring the Great Barrier Reef to enjoying vibrant city life.

With its warm climate and excellent healthcare system, ranked 9th globally, retirees find it comfortable and secure. Attaining retirement residency is straightforward, making Australia a top pick for overseas retirees.

New Zealand

If you've ever dreamed of living in Middle Earth, New Zealand might just be your ticket to paradise. New Zealand, ranked 8th in Quality of Life and Finances in Retirement, offers a balanced lifestyle for retirees. With a moderate cost of living and average rent around $1,200 per month, it provides a good value.

Enjoy stunning landscapes, outdoor activities, and a mild climate year-round. The country’s strong healthcare system, high happiness levels, and supportive social environment make it a top choice. Attaining retirement residency is straightforward, enhancing its appeal for overseas retirees.

Germany

Germany, ranked ninth in this year's GRI, offers a resilient economy ideal for retirees. The cost of living is moderate, with average rents around €800 per month for a one-bedroom apartment in city centers. Enjoy vibrant cities, picturesque villages, and rich cultural experiences.

The climate varies, offering cold winters and warm summers. Attaining retirement residency is straightforward for EU citizens, and the country boasts excellent healthcare. Germany's strong economic and social model ensures stability and quality of life.

Denmark

Denmark consistently ranks as one of the happiest countries in the world, and it's not hard to see why. With its bike-friendly cities, stunning coastline, and strong social welfare system, Denmark offers a high quality of life for retirees.

Denmark offers a high quality of life with higher expenses, including rent. Retirees can enjoy exploring historic sites or embracing the Danish concept of "hygge" with cozy cafes and scenic walks in the mild year-round climate. While obtaining retirement residency may involve bureaucracy, Denmark's amenities make it worthwhile. 

Austria

Austria offers a blend of old-world charm and modern living. With reasonable living costs, including rent, and improvements in finances, it's easier to manage retirement savings. The country's commitment to environmental conservation enhances quality of life, although the pandemic has affected health indicators slightly.

Still, Austria's excellent healthcare and welcoming attitude towards expats make it an appealing choice for retirees seeking a picturesque setting and peace of mind in their golden years.

Canada

Canada's the spot! With reasonable living costs, diverse climates, and top-notch healthcare, it's a retiree's dream. From bustling cities to serene nature, there's something for everyone. Residency is attainable, and the strong economy offers opportunities for part-time work.

While Quality of Life rankings dipped slightly, improvements in sustainability show Canada's commitment. If maple syrup and stunning landscapes sound like your retirement vibe, Canada's the place to be, eh!

Finland

Nestled in Scandinavia, Finland beckons retirees with its pristine landscapes and progressive governance. Despite slipping to 13th place, its 74% satisfaction score reflects strengths in governance and quality of life. Solid finances and steady rents balance high living costs.

From vibrant city life in Helsinki to serene Lapland vistas, leisure options abound. With a welcoming attitude towards expats, Finland offers top-notch healthcare and safety. Despite challenges like a labor shortage, its resilience shines through, making it an attractive retirement destination.

Sweden

Ranked 14th in the Global Retirement Index, Sweden offers retirees a blend of modernity and natural beauty. While living costs are higher, quality of life compensates. Rent varies, but with planning, affordable options exist. Enjoy diverse climates, from snowy winters to mild summers.

Residency attainment is manageable, though bureaucracy may require patience. Embrace Sweden's vibrant culture and eco-friendly living. Healthcare is top-notch despite slight declines in life expectancy post-pandemic. With stable finances and scenic landscapes, Sweden promises an ideal retirement destination.

Slovenia

Slovenia shines as a rising star in the Global Retirement Index, climbing from 21st to 15th place. Boasting a flourishing economy, low unemployment rates, and a high proportion of protected natural areas, Slovenia offers retirees a stable financial environment and abundant opportunities for outdoor leisure.

Plus, with its EU membership, attaining retirement residency status is straightforward, making Slovenia an accessible choice for retirees seeking tranquility abroad.

United Kingdom

Consider the United Kingdom, steadily climbing the ranks to 16th place in the Global Retirement Index. Thanks to its robust financial scene, including improved interest rates and banking stability, the UK offers a promising financial landscape for retirees.

Despite some bumps like inflation, the overall quality of life remains high, with top-notch water and sanitation and decent environmental conditions. Health services, though slightly impacted by recent events, still rank well. So, if you fancy British charm and stability, the UK might just be your retirement haven.

Israel

Israel, a country blending rich history with modernity, offers a vibrant option. Despite slipping a notch in rankings, its overall score rises, signaling promising growth. With a strong financial framework, including low tax burdens and a robust labor market, Israel beckons retirees seeking stability.

Bask in its Mediterranean climate, explore ancient sites, and revel in its top-notch healthcare. Israel, where retirement dreams come alive.

Czech Republic

If you're a fan of fairytale castles, hearty Czech cuisine, and cheap beer, the Czech Republic might just be the perfect retirement destination for you. Despite minor score dips, it boasts affordability, reasonable rents, and a rich cultural tapestry. Attaining retirement residency is straightforward, and with the EU's lowest unemployment rate, part-time opportunities abound.

Enjoy temperate weather and improving air quality. While inflation fluctuations pose challenges, the country's resilience shines through. Healthcare is accessible, ensuring well-being. Embrace the Czech lifestyle for an enriching retirement experience in this European gem. 

Belgium

Belgium beckons retirees with its rich culture, moderate living costs, and picturesque landscapes. Despite health setbacks, its quality of life remains high at 76%. Financially, it offers stability with reasonable rents and improving employment rates. While its climate may not be the sunniest, its mild temperatures suit leisurely exploration.

Attaining residency is relatively hassle-free. Consider Belgium for your retirement abroad—a blend of culture, financial stability, and ease of settling in await your next chapter. 

United States

Consider the United States for retirement overseas, ranking 20th overall with a stable economy and improving income equality. Health scores dipped due to the pandemic, but the cost of living varies across states. Rent averages fluctuate, with popular destinations like Florida and California pricier.

Attaining retirement residency can be complex but manageable. Climate diversity offers options from sunny beaches to snowy mountains, and abundant activities ensure an active retirement. Just mind regional nuances and align finances with your retirement goals. 

South Korea

If you're looking for a retirement destination that's both modern and traditional, look no further than South Korea. While it may have slipped a few spots in the Global Retirement Index, its overall score remains solid. Although costs are rising, particularly with inflation and energy prices, South Korea still offers a relatively high quality of life, ranking well in health and material well-being.

Plus, with its rich culture, delicious cuisine, and beautiful landscapes, there's always something to explore. And if you're worried about residency, the process is generally straightforward, making it an attractive option for retirees looking to settle down abroad.

Malta

Look no further than Malta. With its affordable cost of living, pleasant climate, and rich culture, it's a top choice for retirees. Rent averages are reasonable, and the Retirement Programme makes residency attainable. Despite minor fluctuations in rankings, Malta's stable economy and low unemployment rate ensure financial security.

Though air quality concerns exist, government initiatives promise a healthier future. For a relaxed lifestyle in a Mediterranean paradise, Malta is the perfect retirement destination.

France

Ah, France! From the romantic streets of Paris to the sun-soaked beaches of the French Riviera, there's so much to experience. The cost of living can be high, particularly in cities like Paris and Nice, but many retirees find that the benefits outweigh the drawbacks.

With a 69% score on the Global Retirement Index, it offers reasonable living costs and diverse climates, from the Riviera to the Alps. Residency is accessible, and healthcare is reliable. Despite challenges like an aging population, France remains a top choice. Embrace the joie de vivre and make France your retirement destination for a fulfilling and vibrant lifestyle.

Japan

Consider Japan for your retirement abroad. Despite a slightly higher cost of living, its rich culture, efficient healthcare system, and robust public transportation make it an enticing option. With the world's highest life expectancy, you'll enjoy longevity and peace of mind.

However, Japan faces economic challenges due to an aging population, impacting factors like income equality. Nonetheless, its clean air, biodiversity, and quality healthcare make it a top contender. Attaining retirement residency is feasible with proper documentation.

Estonia

Estonia might not be on everyone's radar when it comes to retirement destinations, but hear me out. Despite holding steady at 25th place overall, Estonia's Quality of Life has seen a boost, thanks to investments in water and sanitation, plus cleaner air. With its top-notch biodiversity and habitat preservation efforts, it's a nature lover's dream.

Plus, Estonia's low unemployment rate and efficient tax system make it a financially savvy choice. Just beware of a slight dip in life expectancy due to the pandemic, though it's been on the rise for decades prior. So, if you're ready for a blend of affordability, natural beauty, and a bit of digital charm, Estonia could be your next great adventure in retirement.