When many retirees think about moving abroad, they picture pristine beaches, lush jungles and icy margaritas. But not all destinations are created equal, according to the latest annual Best Places to Retire rankings from International Living and Live and Invest Overseas. The organizations rank the world’s top retirement spots based on a number of factors, including cost of living, weather, ease of getting a visa and existing expat communities.
Costa Rica topped the list for the first time in this year’s ranking. North Americans have been flocking to this Central American paradise for more than 30 years, lured by its swaying palm trees, tropical climate and cheap cost of living. The country also boasts top-notch, affordable medical care and bargain real estate. But it’s not just Central America that’s attracting retirees—Bali makes its debut on the list and Peru winds up in the No. 2 spot.
Ecuador, which sits on the equator, is another popular option for retiring overseas. Its warm weather, affordable cost of living and excellent health care are just a few of the reasons it’s earned a top spot on the ranking. Plus, its proximity to the United States means expats can shop for familiar brands and use their own currency. In the capital, Quito, retirees can get by on $2,500 a month, while those who choose Volcan or Coronado will have even more options to stretch their budgets.
Mexico might make some retirees a bit nervous, but it’s not all drug cartels and crime. Its dazzling beaches, enchanting cities and diverse landscapes are just some of the draws that have made this country one of the most popular retirement destinations in the world. Playa del Carmen, in the state of Quintana Roo, is especially popular, with more than 7% of its population consisting of expats, according to Live and Invest Overseas. And with a booming tourism industry, locals are used to catering to tourists—which means they understand the needs of incoming expats.
Malaysia is another place that’s catching the attention of retirees. It offers a warm, tropical climate, low prices and an existing expat community. Plus, English is widely spoken here. And with a cost of living 43% lower than that of the United States, retirees can easily afford to live comfortably here.
France’s not only a wine country—it also has a mild climate, affordable costs and good health care. And with a life expectancy of 83 years (compared to 77 in the United States and 71 worldwide), it might be the healthiest choice on this list. Plus, learning French can help a retiree keep their mind sharp.Best place to retire in the world
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