The Best Countries to Spend and Enjoy your Retirement Years

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You have worked very hard all your life, and now it is time to calm down and get the best of your days. Several retired individuals and couples have opted to relocate to a different country to spend their retirement money, with great success. However, where is the perfect location for you?

Whether it is cities, mountains, beaches, or a little of everything that befits your idea of fancy, we have got you covered with the details you will need to retire to any of the top 10 best international living countries on the Annual Global Retirement Index of 2020.

1. Costa Rica

Costa Rica takes the central spot for several reasons, from its clean, beautiful beaches to its cost-effective health care. It is a quiet and peaceful nation without a national army, and a focus on tourism and hospitality built right in the solid culture.

Tons of expats feel right at home whenever they are in Costa Rica, and many people speak English that amateurs should be able to speak fairly well while they also learn to speak Spanish.

Retirees need to only prove an income of 1,000 USD per month from non-work sources such as a pension, disability, or social security, and a dependent spouse might also be covered under that same amount. Housing is affordable, with a furnished 2-bedroom apartment for about $500 per month, and your weekly groceries might cost you no more than $30.

2. Mexico

Mexico is still a very eye-catching choice for retirees. With several opportunities for beach living, there are also properly established in cost communities all over the nation. (For instance, consider the colonial town of San Miguel de Allende.) Mexico has a beautiful mix of modern and old-world charm amenities, with high-speed internet access being the leader in the latter category.

The exchange rate is somewhat favorable, as well, with a one-bedroom furnished apartment for about $650 monthly. A night spent in the town, including drinks and dinner, a show or concert, as well as a taxi home could cost you less than 20USD per individual.

If you are more than 60 years of age, and you are also an authorized and qualified Mexico resident, you won’t be indebted to the public health care system as their services would be free. 

Most retirees begin from a temporary residence visa, which typically lasts for 4 years and needs an income (earned somewhere else other than Mexico) of more than $1,500 per month for a person.

3. Panama

Panama is specifically perfect for American retirees since it is so close and utilizes the United States Dollar as its authorized currency.

Between the exciting and dynamic Panama Citywide, unspoiled beaches, and lush mountain towns, there is something to meets every individual’s taste in Panama. Panama also has a very fertile volcanic soil good for gardening.

Retiree couples could live comfortably on about $1,500 monthly in Panama. The healthcare is awesome and considered as world-class and would cost 50-70% less than in the US. You will require a pension-type earning of at least $1,000 monthly, which is guaranteed for a lifetime, but in case you have it, Panama provides authorized permanent residence.

4. Ecuador

Ecuador is a small nation that is only expanding in terms of its fame with expats. Irrespective of its small size, the country offers all types of community and landscape a person could require, from quiet coastal enclaves to bustling metropolitan towns and peaceful hilltop communities. 

It enjoys a comfortable and moderate temperature all year round, ranging from 40-60F. You will find that your funds stretched a lot further in Ecuador, with a family of five able to reside comfortably on $1,500 monthly.

Ecuador is perfect for retirees as it also has all sorts of perks for individuals above the age of 65. Seniors enjoy discounts on every flight that starts in Ecuador plus up to 50% off on tickets for movies and public transportation and sporting events. There are many diverse types of visas for pensioners, so it may assist in hiring an Ecuadorian lawyer to assist in navigating the entire process for you.

Although, generally, the requirement is that each applicant showcases $800 per month in income, plus an extra $100 for every dependent.

5. Malaysia

Malaysia tops the list for amenities and entertainment, making it the best choice for retirees who desire to stay on the go. 

There is delicious and exotic cuisine served up right from different street stalls, over with over 850 white sand islands to visit, and access to all your most-loved hobbies as well as pastimes. Both historic and modern in feel, Malaysia never leaves any box unchecked.

Healthcare is literally a fraction of United States prices; however, the financial requirements for pensioners’ visas in Malaysia are slightly higher than others on our list.

Single individuals must have a bank balance not lower than $33,000; married couples require $50,000. But, please be requirements for savings can be ignored just in case you are meant to receive retirement funds monthly of at least $3,300 for couples and $2,300 for singles.

6. Colombia

Columbia is known to be the second most bio-diverse nation in the world, and it provides citizens with expats environments ranging from tropical and hot to shady and cool mountain areas. And certainly, there will always be a beach for every person’s desire.

Colombia has a high rank in terms of quality living, particularly because of the temperate weather support external or outdoor activities such as swimming, tennis, golf, hiking, and horseback riding. 

Foodies will particularly love the range of fresh, exotic available produce. Friendly Colombians will always make you feel welcome in the community.

The costs for monthly housing changes from region to region, however (range between $1,500+ for urban penthouses it a big country home and $300 in small towns. To become eligible for a Colombian retirement visa, you will need a monthly income that is 3 times the normal minimum monthly salary in the country. The same amount changes with exchange rates, but is normally around $800 per month.

7. Portugal

Residing in Portugal is easy, specifically if you settle down in Lisbon, which is a well-developed city and has all the contemporary social amenities you are used to. The Portuguese people are friendly, mellow, and welcoming to foreigners. 

Portugal has been ranked as the third safest country in the world by the 2016 Global Peace Index. Individuals who would love to retire while in Portugal should apply for an RRV (Regular Residence Visa.) There is no particular amount of money that needs to be shown; however, the immigration personnel will be searching to make sure that you are capable of supporting yourself as well as your family.

If you reside in a small city, somewhere around $1,600 monthly should be enough.

8. Nicaragua

Nicaragua never runs out of diversions you keep you happy and entertained during your retirement years. Fish to your satisfaction, peer into active volcanoes, and pass joyful hours of dining and shopping in the city centers. The roads are of high standards, and both cell phone and internet services are reliable. A warm climate and fresh food encourage a healthy lifestyle.

Generally, a money-savvy couple resides comfortably for about 1,500USD per month. However, to benefit from the “Pensionado” program, you have to show a valid and reliable income of $600 every month, including $150 for every dependent. 

There’s much to recommend Nicaragua for retirees; however, the country is still currently through political instability and is not meant for the faint of hearts. This might be a location to shortlist in case you have a few years until your retirement.

9. Spain

Spain has long been regarded as a famous tourist destination, and it is awesome for retirees for so many reasons. Stunning vistas, diverse cultures, and tasty local cuisine all make it an amazing place to be.

Spain also offers genuine First-World accommodations, with reliable cell service and high-speed internet, as well as movie theaters, museums, and stage productions all available in both mid-sized and large cities. 

If you plan living in Spain for your retirement, you will need to lobby for a Residence Visa for Retirees. The required income is somewhere between $25,000 – $30,000 yearly in United States dollars or £25,500. You will need to be physically fit and in good health, and the process usually takes about two to three months.

10. Peru

How do you like exploring old Spanish colonial towns and cities, 1,500 miles of coastline, amazing archaeological sites, deep canyons, and towering mountains? Peru features it all, and more.

The cash value required for retirees is $1,000 monthly, including an extra $500 for every dependent. Not too much of a price to enjoy 300 days per sunshine year. This visa is known as a rentista visa, and you will not be able to make money with it. 

But, after two years, you would be qualified to apply for citizenship, which automatically confers the right to work, if you so desire.

So which of these countries do you prefer to work in? All these countries offer something special and unique for retirees who desire to mark the best out of their pensions and time. The dream can be actualized for less than you think, thus follow that flight of fancy and start living the charmed life expats today.