I’m a Retirement Expert: These 8 Countries Are Better for Retirement Than America

When it comes to retirement planning, you want to ensure that you live in the most ideal place based on financial standards and quality of life. As a retiree, you’ll want to find a location that allows you to live your dream lifestyle without busting your budget.

This is why we will share eight countries that are often recommended for retirement living if you want to stretch your dollars and improve your quality of life. 

Which countries are better for retirement than America?

“Panama tops the list based on being a tropical paradise, cost of living and, most importantly, the Pensionado Visa program for retirees, which offers a lot of discounts and is tax free,” said Michael Wallace, CEO at Greenback Expat Tax Services.

The World Economic Forum recently placed Panama at the top of its list of retirement locations. Panama has become one of the top retirement destinations for retirees due to its safe living conditions, friendly locals and access to medical care. As a retiree, you can choose between beach communities, city living and mountains. 

retirement Will Last in Every State

“Costa Rica glows in its sunny geography, citizenry and the best-rated healthcare system of Latin America, where to live worry free and inexpensive amid all other natural beauty,” Wallace said. 

Tropical climates, reasonable medical costs and affordable housing have recently attracted many retirees. With access to one of the highest-rated healthcare systems and beautiful nature, this has become a top location for retirement living.

“Portugal, with its mild climate and being one of the most peaceful countries in the world, offers an escape to Europe at a fraction of the cost — with attractive residency programs like the Non-Habitual Residence Tax system and the D7 Visa,” Wallace said.

According to International Living, Portugal offers high-quality healthcare, safe living conditions and you spend less money than you would in America. As one of the fastest-aging countries in Europe, the seniors are known to be treated with respect and are taken care of by the medical system. 

“Ecuador calls retirees to land with a variety of vistas from coastlines to volcanoes and incorporates a huge senior discount and tax-refund network in their retirement visa program,” Wallace said. 

According to the World Economic Forum, retirees can live an easygoing lifestyle for around $1,500 to $1,825 monthly. With access to modern living, beach communities, the Amazon Rainforest and the Galapagos Islands, this has become an attractive destination for retirees seeking warmer climates. 

“Whether you are looking for a quiet life in the rural locations of Greece or an invigorating city break, Greece — with its history-filled land and sun-lit shores — is the perfect balance of both, Wallace said. “And with the Golden Visa program, residency in the country could not be easier. The country is also preparing itself to become a major draw for foreign retirees since it is also planning to introduce a flat tax rate.”

Greece offers gorgeous scenery, excellent healthcare, a rich history, an affordable cost of living and a healthy diet for those looking to spend their golden years elsewhere.

“Belize stands out with its Qualified Retired Persons program because of the exemption of foreign income from tax and the giving of duty exemptions — everything that an expatriate needs in a country if he seeks to stretch his retirement dollar further,” Wallace said.

International Living believes that Belize has one of the best retiree tax programs worldwide, allowing your retirement income to go farther. With beautiful beaches, quality healthcare, access to fresh food and English as a primary language, retirees are flocking to this retirement destination.

“Nicaragua offers great living cost benefits, accompanied by a myriad of tax incentives for optimizing income to retirees,” Wallace said.

If you’re looking for warmer weather and tax benefits, you may want to think about this destination. The country offers access to excellent healthcare and a lower cost of living than most other retirement communities. Nicaragua was also rated one of the safest countries in Central America if you’re looking for a place with a laid-back lifestyle. 

“Malta in the Mediterranean offers an English-speaking population and a lovely view,” Wallace said. “It is also the cheapest among the Golden Visa programs in Europe to complete your beautiful and worry-free retirement.”

While this isn’t the cheapest location, the year-round sun attracts those who are looking for outdoor activities. Those who have retired in Malta enjoy that English is commonly spoken, the healthcare system is excellent and there’s a relaxed lifestyle.