For retirees who dreamed of moving to any foreign countries this year, here’s a few practical suggestions from Forbes you might want to consider:
When it comes time to pick a retirement spot, the majority of Americans end up staying put, or moving within their own state. (See The Best Places To Retire In Each State.) But that doesn’t mean you shouldn’t at least consider the option of retiring abroad. Fact is, many countries offer a high standard of living at a much lower cost and throw in good weather, great scenery and fascinating culture at no extra charge.
More Americans have been not just considering, but actually making, the big move. The U.S. Social Security Administration just reported it’s now sending checks to almost 700,000 people living in foreign countries. That’s a steady 40% increase over 10 years. Of course, not all Americans “retiring” abroad are old enough to collect Social Security. The growing FIRE (Financial Independence, Retire Early) movement has got some GenXers and even Millennials dreaming about “retiring” from their day jobs and living abroad.
To assist those planning, or simply dreaming about, a foreign retirement haven, Forbes has scoured the globe to come up with a list, The Best Places To Retire Abroad In 2019. Click on the gallery below for a description of all 24 countries, on five continents, that made our list, in alphabetical order. (At the bottom of this post, there’s also a handy table offering a quick view of how our picks compare.) Note that while we are picking entire nations, not every place in each is suitable. U.S. expat retirees often tend to cluster in just a few locales. So we suggest a few specific spots in each, although in most countries there are many other locations that would also be suitable.
One advantage of just about every foreign country on our list is that good medical care, and health care insurance, is available and at a cost so much less than in the U.S. that private insurance can easily replace the Medicare benefits most U.S. retirees depend on. (No, you can’t use your Medicare benefits abroad.) Three countries on our list—Uruguay, Ecuador and Italy—even allow expats under certain circumstances into their national healthcare systems. In some countries, good healthcare is more easily found in the larger cities, and we make a note of that in our individual write-ups.
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