A Retiree’s Heaven: 9 Best Countries for Expats to Retire Comfortably
Are you thinking about moving out of the US and living your senior years in a different country? You should find a place offering a better retirement program than America. A survey shows that as many as 15% of Americans are thinking about leaving the country forever. No wonder 5 million retirees have already left their homeland for good so they could spend their golden years in comfort and luxury.
But where are most retirees moving to in 2024? What are some of the hottest places out there for expats to retire? All your queries will be answered here so you can make the best decision about your life after retirement.
Why are Americans Retiring Abroad?
You’re probably wondering why so many retirees want to leave the US and retire somewhere else. Let’s solve this mystery first. Retirement is a very important stage in your life where you finally break the shackles of corporate life and pursue the kind of life you’ve always wanted.
Some retirees wish to break away from the monotony of life, and moving abroad is their last shot at freedom, fun, and excitement. That’s why they seize the first opportunity to become expats.
Retiring in another country also comes with many tax benefits and other government-subsidized incentives. Here are some major reasons why seniors move overseas only to retire:
Cheaper Living
A strong US dollar means expats find a lower cost of living in other countries. They can stretch their retirement savings further and afford a higher standard of living.
Better Healthcare
Healthcare is really expensive; 40% of Americans have skipped necessary medical care because they couldn’t afford it. But healthcare is much cheaper outside of the US.
Lifestyle Change
Many retirees want to live in warmer climate regions and enjoy a more relaxed living. This lifestyle change attracts or appeals to seniors who want to live in beach towns or rural communities.
Tax Benefits
Retirees can find significant tax incentives in other countries, such as tax credits or income exclusion for their foreign-earned income. Some countries even have no-income-tax policies (e.g., UAE).
Adventuresome Spirit
Finally, the mere call of adventure is enough for some seniors who wish to immerse themselves in new cultures, explore different lifestyles, and stay culturally savvy by learning another language.
But it’s important to locate the best countries for retired American expats after proper research. Or do you want to move to a country and then find out there always was a better one right there on the world map? Do not become another “economic refugee” who leaves the country seeking only a cheaper cost of living. It is prudent to take other factors like crime rate, political stability, diseases, etc., into account as well when choosing your retirement destination.
We have done all the necessary research for you here. So, let’s embark on this educational journey and explore some of the best countries for an expat to retire.

Best Countries for Expats to Retire – Hottest Locations Compiled
Where do the most retired people live? Which country is the best for a retired expat? Good news for you – we’ve gathered some of the hottest retirement destinations in one place. You can move to any of these places to appreciate the beauties of life and explore all the wonders this world has to offer:
1. Colombia
Let’s start with something easy, i.e., Colombia. This South American country with a population of over 50 million isn’t the first place that comes to mind when discussing the best countries for Americans to move to after retirement. However, this country is 63.8% cheaper than the US and is rich in culture and history. It’s a land of colonial architecture, nature preserves, and plenty of outdoor activities.
You can live in Bogota, Medellin, or Manizales, some of the largest cities in Colombia. Spend time walking on sunny beaches or exploring the Amazons (if you dare!). Its museums, castles, walled cities, and picturesque landscapes make it the perfect destination for a retiree looking for peaceful living.
Surprisingly, healthcare in Colombia is more affordable and also much better in terms of quality than the American or Canadian healthcare system. A couple can live comfortably on $1,500 to $2,000 in Colombia, but the cost of living can vary slightly based on which city you’ve moved to as a retiree.
2. Greece
We have yet to mention any European nations here, have we? Well, let’s talk about Greece, the starting point of the western civilization. Greek beaches and countryside welcome Americans looking to spend their golden years in the cradle of democracy. With a regular income of just $2,200, you can enjoy life as an expat in Hellenistic joy.
This country is 54% cheaper than the United States. Composed of more than 200 islands, 80% of its territory is dominated by mountains. Most Greek settlements are located close to the ocean. So, you can find ample opportunities to indulge in beach-related activities.
Now, where can you find a home in Greece? You can go to Athens, Thessaloniki, or even the island city of Heraklion for a comfortable living. Greek doctors are well-trained, and finding an English-speaking medical professional will be easy. Greek locals are like Greek cuisine: agreeable, traditional, and chiseled in grace.
3. Malaysia
Malaysia claims this spot as one of the most peaceful nations in Southeast Asia. Locals are friendly, the crime rate is low, and First-World facilities are available only at a fraction of the cost. Let’s talk about the cost of living in Malaysia; it’s 57.5% cheaper than in the US, and $1,500 is enough to spend a month in comfort. If you want to retire in Malaysia, check out the Malaysia My Second Home program.
The government introduced MM2H to attract foreigners to relocate to Malaysia and retire. This program offers amazing tax benefits and attractive bank loans for property purchases. What’s even more interesting is that, under MM2H, you can bring your 34-year-old unmarried kids to Malaysia as well.
Malaysia’s cultural richness and breathtaking scenery make it an even more appealing destination for expats planning to retire. This lovely country offers adrenaline-pumping adventures and fantastic experiences. So, consider retiring in Malaysia to lead a life of luxury and self-indulgence.
4. France
Another incredible retirement destination in Europe is France, the hub of food lovers around the world. This country is 9% less expensive than America and offers an amazing lifestyle to expats. If you wish to retire in France, apply for carte de séjour à solliciter to reap all the benefits of French citizenship.
The climate is fantastic, the food scene is sumptuous, and you can pass your time by exploring the country’s countless arts and music festivals. After relocating to La Bella, France, you would need between $2,000 and $2,700 to live comfortably every month. But remember that the land of croissants doesn’t promise cheap housing everywhere, so stay away from expensive cities like Paris and Lyon.
Other than that, you can have a jolly good time exploring local villages, traversing the countryside, and expanding your palette by tasting exquisite French dishes. Life sure is a dream in the EU’s most coveted nation.
5. Switzerland
Unlike all the other countries mentioned here, Switzerland has a higher cost of living than the United States. Then why should anyone even consider moving to this landlocked European country?
The truth is that Switzerland offers lower taxes, excellent health services, and a high standard of living. It’s a good place to retire if you cherish luxury and wish to be pampered in your golden years. The air is clean, the crime rate is down, and the streets are spotless. So, you shouldn’t wait to apply for the badly sought-after Switzerland Retirement Visa.
An individual would spend $3,500 to live a comfortable life in Switzerland and $4,000 if it’s one of its big, expensive cities. But the country’s political stability and thriving job market will allow you to retire in comfort later. That’s why the Swiss economy has become a magnet for expats looking to retire outside the United States.
6. New Zealand
The land of the Kiwis is arguably one of the best countries for retired American expats. It’s 25% less expensive than America, so that you can live a comfortable life for just $50,000 a year. This country is famous for its natural beauty, quality healthcare, easy immigration, and vibrant food scene. You can elevate your standard of living after moving permanently to New Zealand as a retiree.
The whole country is like a giant playground with plenty of activities to keep oneself busy, such as hiking, swimming, sightseeing, and – of course – exploring the set of The Lord of the Rings trilogy. Immerse yourself in the Maori culture and appreciate the island country’s breathtaking scenery.
As per the Expat Insider Survey, two-thirds of expats living in New Zealand are happy with their decision, particularly with the country’s natural environment. So, refresh your mind by moving to NZ.
7. Panama
But one country is even more retiree-friendly than NZ and is located closer to the US, i.e., Panama. Yes, this Central American country has one of the best retirement plans out there. It is called the Panama Pensionado Program, and here are some benefits that it offers:
- 10% off on medicine
- 15% off on loans
- 25% off on utility bills
Aside from that, Panama is 49% cheaper than the United States and offers many great visa offers for easy emigration. The country’s healthcare system is top-rated and equal to European hospitals in quality. Aside from cheap groceries and favorable taxation, Panama’s tropical climate also makes it one of the best countries for expats to retire.
Are you looking for fun? Good news for you – Panama’s beautiful beaches offer activities like snorkeling, scuba diving, and whitewater rafting. There’s never a day in Panama without fun and excitement.
If you are looking for a rich biodiversity and vibrant nightlife, book your next flight to Panama.
8. Costa Rica
This country is home to one of the world’s Blue Zones; rich in biodiversity, waterfalls, and a spring-like weather that prevails almost year-long. Costa Rica is arguably a tropical haven for expats about to retire. You will be glad to know that Costa Rica is one of the happiest countries in the world, all thanks to its high life expectancy and lower cost of living.
Costa Rica’s wonderful climate, cheap housing, best-rated hospitals, and easy availability of visas are a few reasons why it’s one of the best places for expats to retire. But wait! There’s more.
There’s no need to panic if you’re relocating to Costa Rica and can only speak basic Spanish. English is spoken in the areas frequented by tourists so that you can communicate with local businesses at some level. The country has had no standing army since the late ’40s and generates 98% of its power from renewable sources. It’s truly the Switzerland of Central America.
9. Mexico
And the final country on our list of the best retirement destinations abroad is Viva La Mexico! It’s one of the cheapest places to retire, and the cost of living differs heavily from city to city; you may need anywhere from $600 to $2,000 to spend a month comfortably in Mexico. After all, it’s 63% less expensive than America and blessed with natural beauty that’s out of the world.
Mexico’s warm weather, affordable healthcare, and cheap yet finger-licking-good street food attract people from all over the United States. No wonder around 1.6 million Americans are living and working in Mexico, making this Aztec country the most popular destination for US expats.
What’s more, are you looking for an ideal expat destination? Is it a booming wine industry, rolling hills, hiking trails, fantastic beaches, or national parks that you seek? Because all of that is there in Mexico for those willing to retire in this beautiful country! If you want to live in a big city, go to Guadalajara. If you want some peace and tranquility, find a house in Huatulco. Mexico is a piece of heaven for expats to retire.
Should You or Should You Not Retire Overseas?
Now, you know all about the best countries for expats to retire in 2024. But is leaving the United States worth all the effort? Before saying goodbye to your birthplace forever, compare the pros and cons of life as a retired expat. Here are the reasons why you should or shouldn’t retire in another country:
Pros of Life as a Retired Expat
- Take control: For some people, it’s the last chance to live life on their terms. Moving abroad is a critical decision, but it’s a great way to be the master of your affairs. Pursue your favorite hobbies and develop the skills you always wanted to learn. You can become independent in a real sense.
- Personal growth: ‘Fess up; you always wanted to travel the world and see other places. Life as a retired expat is your chance to sightsee, check out exotic destinations, and grow as a person. It’ll help you grow more mature and work on yourself. Hone your soft skills. Be mentally healthy.
- Knowledge expansion: Living overseas after retirement is a great way to expand your know-how and see other cultures up close. It helps you develop a different perspective as you continue to see the world as non-Americans see it. Learn by experience and become intellectually stronger.
Cons of Life as a Retired Expat
- Moving blues: 75% of Americans regret moving to another house in the same city or state. It’s never easy to move away from familiar surroundings and live someplace you’ve never been before. Maybe you’ll miss your country, family traditions, and familiar infrastructure.
- Healthcare system: Health sure is quite expensive here, but America has a well-established healthcare system at least. You may lose Medicare and Social Security benefits after emigrating. Some Third World countries offer a different quality of healthcare than we have here.
- Hidden Costs: Don’t forget about the “Palm Springs Syndrome,”[1] in which people relocate to seemingly cheaper places only to find out about some hidden costs. These costs may offset your savings potential, and you can spend the same amount you spent in the US.
Final Thoughts
Retirement is the most crucial part of your life, where you can focus on your hobbies and interests instead of chasing a life dominated by corporate dreams. After years of staying in one place because of your job, kids, or financial restrictions, you can finally live your life solely on your terms. But it’s essential to do proper research and find the best retirement destinations abroad. You can choose any of the popular destinations or move to a less mainstream country to live life to the fullest.
Retiring abroad comes with many benefits, such as a sense of adventure, alternative lifestyles, fewer taxes, health benefits, and other positives. But you may need help trying to overcome language/culture barriers, understand local regulations, or settle in an unfamiliar environment. On this note, we bid you adieu. Open this new chapter in your life’s book with utmost confidence.
[1] Many people moved to Palm Springs from LA for cheaper housing, only to find that they had to spend a lot of money on air conditioning.