Where to Retire Abroad for a Better Life

Portugal continues to draw retirees from around the world—not just because it’s affordable, but because it feels livable. The public healthcare system is strong, private insurance is reasonably priced, and even non-EU citizens can access care once they gain residency.

The D7 visa is designed for people with passive income, like Social Security or pensions, and has helped grow expat communities in places like the Algarve and Coimbra. English is common in larger cities, but you’ll get further (and faster acceptance) by learning some Portuguese.

Lisbon and Porto have seen rising housing costs due to tourism and short-term rentals, but smaller towns and inland regions still offer solid value. Life moves slower here—walkable towns, long lunches, and a social culture that doesn’t revolve around spending money.

Costa Rica is one of the most accessible retirement options in Central America—both geographically and financially. Direct flights from the U.S. make it easy to visit or move, and the country offers a residency path designed specifically for retirees.

The Pensionado visa requires proof of at least $1,000 per month in retirement income. Once approved, retirees gain access to the national healthcare system (Caja), which provides low-cost medical care through public hospitals and clinics. Many expats also choose to supplement it with private coverage, which is widely available and comparatively affordable.

The cost of living depends heavily on location. Coastal areas like Tamarindo or Nosara tend to attract tourists and digital nomads, which can drive up prices. Inland towns like Atenas and Grecia offer a quieter pace, milder weather, and a lower price tag. In these areas, it’s possible to live comfortably on a modest budget, especially if you shop local and rent instead of buy.

The climate ranges from tropical and humid to temperate, depending on elevation. Infrastructure is solid in most towns with established expat populations, but internet and road quality can vary.

Thailand remains one of the most budget-friendly retirement destinations in Asia—but cost isn’t the only draw. Cities like Chiang Mai and Bangkok offer excellent private hospitals, a vibrant cultural scene, and a well-established expat infrastructure. English is widely spoken in healthcare settings and tourist areas, and major hospitals often cater to international patients.

The country’s retirement visa (Non-Immigrant O-A or O-X) is available to foreigners over 50 and requires proof of income or savings, plus periodic renewals and health insurance coverage. While the paperwork can be time-consuming, many expats find it manageable with help from legal services or visa agents.

Cost of living varies by region. Chiang Mai, in the north, offers one of the lowest overall costs, with expats reporting monthly budgets under $1,500 for a comfortable lifestyle. Bangkok is pricier, especially in central districts, but still more affordable than most Western capitals.

Thailand’s biggest challenges include language barriers in rural areas, air quality issues during seasonal crop burning in the north, and strict immigration enforcement for those who fall out of compliance. That said, for retirees willing to adapt, the country offers daily conveniences, excellent food, and year-round warmth at a fraction of the cost of Western alternatives.

Mexico is one of the most popular retirement destinations for Americans—and not just because of its proximity. The country offers a wide range of climates, communities, and costs, making it flexible enough for many retirement styles.

Healthcare is a major draw. Mexico has both public (IMSS and INSABI) and private healthcare systems, with the latter offering shorter wait times and English-speaking providers in cities with large expat populations. Popular private hospitals in Guadalajara, Mexico City, and Mérida often receive high marks for quality and affordability. Many expats pay out of pocket or purchase private insurance, which tends to be significantly less expensive than U.S. options.

Retirees can apply for a temporary resident visa, which is valid for up to four years and can be converted into permanent residency. Requirements include proof of income or assets—usually around $2,500 per month or a savings balance that meets a specified threshold.

The cost of living depends heavily on location. Cities like San Miguel de Allende, Lake Chapala, and Mérida have well-established expat communities, walkable historic centers, and lower costs than resort hubs like Cancún or Cabo San Lucas. Rent, groceries, and household help are generally affordable, especially outside major tourist zones.

Security varies by region. While some areas face serious challenges with crime, others—particularly smaller towns in Yucatán, Guanajuato, or Oaxaca—remain calm and welcoming. Speaking some Spanish helps with day-to-day life, especially in regions where English isn’t widely spoken.

Spain combines a high quality of life with relatively low living costs, especially compared to other Western European countries. Its robust public healthcare system ranks among the best in the world, and non-EU retirees can access it after obtaining residency and registering locally. For faster service or English-speaking providers, many expats also opt for private insurance, which is reasonably priced and widely available.

Retirees typically apply for a non-lucrative visa, which allows long-term residence without employment. Applicants must show proof of passive income—such as Social Security or retirement savings—totaling roughly €2,400 per month, with additional amounts for dependents. The visa is renewable and can lead to permanent residency after five years.

Cities like Valencia, Alicante, and Málaga attract retirees with their mild winters and strong expat networks. These mid-sized cities also offer excellent public transport, walkable neighborhoods, and a slower pace of life that aligns well with retirement. In smaller towns and inland regions like Extremadura or parts of Andalusia, costs drop even further.

Culturally, Spain offers rich local traditions and a deep food culture rooted in regional produce. But bureaucracy can be frustrating, particularly when navigating banking, property rentals, or healthcare paperwork. Hiring a gestor—a professional who helps with administrative tasks—is a common solution for foreign residents.

Malaysia doesn’t get as much attention as some of its Southeast Asian neighbors, but for retirees looking for comfort, value, and cultural diversity, it’s worth a serious look. Cities like Kuala Lumpur, George Town (Penang), and Ipoh offer modern infrastructure, vibrant food scenes, and large English-speaking communities.

The country’s long-running Malaysia My Second Home (MM2H) program was specifically designed to attract foreign retirees. Though the requirements were tightened in 2021—with higher income and asset thresholds—there are regional versions of the program, such as Sarawak MM2H, with more flexible terms. Many expats now choose to retire under standard long-term stay options while the program continues to evolve.

Private healthcare in Malaysia is affordable and well-regarded, with JCI-accredited hospitals and English-speaking doctors throughout the country. Public transportation is excellent in urban areas, and high-speed internet and modern amenities are widely available.

The downsides? The tropical heat and humidity are constant, and traffic congestion in cities like Kuala Lumpur can be frustrating. But if you’re comfortable adapting to a mix of cultures and rhythms, Malaysia offers an easy, cosmopolitan retirement that’s still very affordable by Western standards.

Ecuador draws retirees with its affordability, geographic variety, and well-established expat hubs. Cities like Cuenca, in the Andean highlands, offer a mild, spring-like climate year-round and a walkable historic center with cafes, markets, and Spanish-language schools. Smaller cities like Loja are quieter, but offer similar infrastructure and lower rent.

For U.S. retirees, the numbers matter. A single person can live comfortably on $1,200 to $1,500 per month in Cuenca, including rent, utilities, and basic healthcare. Many opt into the national health system, IESS, which costs around $80–$100 per month. Private clinics are also accessible, and a specialist visit may cost as little as $30–$50 out of pocket.

The Pensioner Visa (Jubilado) requires proof of a stable monthly income of at least $1,275 (as of 2024), and grants permanent residency and access to healthcare.

You will need to speak some Spanish to navigate daily life. The slower pace can be charming—or frustrating—depending on your expectations.

Italy offers retirees a strong public healthcare system, scenic slower-paced regions, and a relatively stable residency path—especially for those with reliable income. While major cities like Rome and Florence come with high housing costs, lesser-known regions such as Abruzzo, Le Marche, and parts of Sicily offer better value and a quieter lifestyle.

The Elective Residency Visa is available to non-EU citizens who can show steady passive income, typically around €31,000 per year for individuals, with higher requirements for couples. While retirees can apply directly from their home country, the process involves showing proof of accommodation, health insurance, and sufficient funds.

Healthcare is accessible once you establish legal residency. Italy’s Servizio Sanitario Nazionale (SSN) allows residents to enroll for a fee—usually between €150 and €400 per year. Until enrollment, private insurance is required.

The two biggest hurdles: bureaucracy and language. Italy’s paperwork process is slow and often region-specific, and while English is spoken in tourist centers, it’s limited in most small towns.

Panama has become a retirement hub thanks to its Pensionado visa, one of the most retiree-friendly residency programs in the world. Open to anyone with a guaranteed lifetime pension of at least $1,000/month (plus $250/month per dependent), the visa includes a long list of benefits—discounts on medical services, utility bills, restaurants, and even airfare.

Healthcare is widely accessible. Panama City offers several JCI-accredited hospitals, and private clinics throughout the country are affordable compared to U.S. prices. Many doctors are U.S.-trained, and the use of the U.S. dollar as currency simplifies financial logistics.

Outside the capital, Boquete is one of the most popular towns for expats. It offers a spring-like climate year-round and an established international community. David and El Valle de Antón also attract retirees looking for a quieter pace and lower housing costs.

Internet and infrastructure are generally strong in and near major cities, though quality can vary in rural areas. While English is widely spoken in expat-heavy zones, Spanish is essential for navigating daily life elsewhere.

Uruguay doesn’t draw the same headlines as other Latin American retirement spots, but for those seeking stability, strong institutions, and a slower pace of life, it offers a compelling case.

It’s one of the safest and most politically stable countries in the region, with low levels of corruption, a high literacy rate, and progressive policies around healthcare, same-sex marriage, and social services. Residents have access to Uruguay’s mutualista healthcare system—a network of private hospitals offering subscription-based plans that often cost under $100/month, depending on age and coverage.

Montevideo, the capital, is where most expats settle. It has reliable public transit, beachfront neighborhoods, and a walkable city center. Retirees looking for something quieter often explore Colonia del Sacramento, a UNESCO-listed town with a slower pace, or Punta del Este, which blends resort-town energy with modern amenities.

There’s no dedicated retirement visa, but residency is open to anyone with a verifiable monthly income and a clean criminal record. The process can take time, but there’s no age cap or income floor.

The cost of living is moderate—not as low as Ecuador or Mexico, but often more predictable. Spanish is necessary outside expat circles, and while the culture is warm, Uruguayans tend to be reserved—building community takes time.