When planning for retirement, some people may be thinking that a move to another country is the way to go. After all, it brings all the pleasures of vacationing to their everyday lives—beautiful scenery, a diverse culture and cuisines, and the opportunity to learn a new language. And in many of these foreign destinations, a retiree’s money can stretch much further than it would in the United States.
For these reasons and others, the number of Americans retiring abroad has been increasing. And according to a recent study by Natixis, a wealth management and investment firm, the best place to retire in the world is Norway, followed by Australia and Iceland. These countries have higher life expectancy rates than the United States and offer pensions that are much more secure.
The best place to retire in the world depends on a variety of factors, including cost of living, climate, proximity to family and friends, and personal interests. The good news is that the world is full of exotic places that can fit the bill.
Ecuador, for instance, is a top retirement destination because it straddles the equator and has an array of terrain. Its citizens enjoy a warm tropical climate on the coast and cool weather in the mountains.
Mexico, another coveted retirement destination, is home to archaeological discoveries, beautiful beaches and lush jungles. It also boasts an enviable quality of life and a cost of living that’s 40% less than in the U.S. And if you want to hang out with other expats, the country is also home to more American expats than any other in Latin America.
Malaysia is a popular choice among expats and offers a tropical environment, friendly locals and top-notch healthcare. It’s also 43% cheaper to live in Malaysia than in the United States and has a growing community of expats.
Thailand, meanwhile, has a gorgeous island coastline, spectacular mountains, and vibrant cities that are perfect for anyone who wants to live in paradise. Its affordable cost of living, great healthcare and low crime rate make it an excellent choice for retirees.
Cyprus is another popular option for retirees looking to relocate to a sunny locale. This Mediterranean country gets 300 to 340 days of sunshine per year and has a relaxed pace of life. Plus, property prices are reasonable compared to other European destinations.
The only downside to Cyprus is its distance from Europe, but it’s easy to get to via direct flights and there are set visa pathways for those looking to emigrate. It has a charming Old Town, and a castle built by veterans of the Trojan War. It’s also a hub for hiking, sailing and golfing. You can even learn to speak Turkish here. Best place to retire in the world