12 Overseas Retirement Spots Ranked

July 6, 2011 RSS Feed Print
  • Comment (6)

The cost-of-living is one important consideration when trying to identify the ideal place to retire overseas. However, it’s hardly the only criteria you should use.

[See 10 Tips for Retirement Overseas.]

There are many other ways to save money abroad including tax perks, special benefits for foreign retirees, and even the affordability of health care. And in addition to the local cost-of-living, you should also consider the climate, infrastructure, culture, and recreation opportunities of each potential retirement spot. If you plan to return home periodically, accessibility to the U.S. is also key.

Different retirement havens are appealing for different reasons. While many places could make an ideal adopted retirement home, no single place is right for everyone. Making the right choice for you is about understanding the pluses and the minuses of a place and making comparisons. Some places offer better weather, while others provide more options for outdoor recreation, are nearer to your home town, or have better public transportation systems.

[See The 10 Fastest-Growing Retirement Spots.]

The following chart shows how twelve retirement havens compare on criteria that is important to many retirees, with five stars being the highest possible rating. For example, five stars in the climate category means that the country’s weather is pretty nice year-round. One star in the special benefits for foreign retirees category indicates that the country offers few extras, such as tax breaks or travel discounts, to retirees from abroad. Four or five stars in the language category means that a person who speaks English only could live here and get along day-to-day without learning another language if they wanted to.

[See 10 Places to Retire on Social Security Alone.]

Creating a chart like this one necessitates drawing broad conclusions across different regions of a country. The weather in Ajijic, Mexico, for example, is dramatically different from that on the Mexican Pacific coast at Puerto Vallarta. Therefore, these ratings should only be used for making comparisons and prompting your thinking about where in the world might be the ideal retirement haven for you. Visiting for yourself is the only way to know if any of these places will suit your retirement needs.

  Climate Health Care Infrastructure Access to the U.S.
Argentina **** **** *** ***
Belize *** ** ** ***
Colombia ***** *** *** ***
Chile *** **** **** ***
Ecuador ***** *** ** ***
France *** ***** ***** *****
Italy *** **** **** *****
Malaysia *** *** **** ***
Mexico **** ***1/2 **** *****
Panama *** ***1/2 **** *****
Thailand *** **** ***1/2 **
Uruguay **** **** **** **1/2

 

  Culture, Recreation, and Entertainment Special Benefits for Foreign Retirees Taxes Language
Argentina ***** * *** ***
Belize **1/2 **** ***** *****
Colombia **** * ** **
Chile *** * *** **
Ecuador ***** *** ** ***
France ***** * * ***
Italy ***** * * ***
Malaysia ***1/2 **** ***** ****
Mexico ***1/2 * *** ****
Panama *** ***** ***** ***1/2
Thailand ***1/2 * *** **
Uruguay *** **** **** ***

 

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter. Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

Tags:
retirement

Reader Comments Read all comments (6)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

In all your articles here you have left out a major hurdle. You did not rate the ease of meeting the requirements of the respective countries imigration departments.

Greg Simpson of TN 8:36AM March 08, 2012

The Philippines is not on the list because of the extreme corruption, crime and filth. I have lived in the Philippines for over 6 years and I would have to say that the only decent Hospital for Medical care is St. Luke's in Manila. Ask any expat and they will agree. If you live outside of Manila you are risking your health. That being said, Manila, or close to Manila, are your only choices.

Manila is a cesspool. It smells like urine and feces everywhere because most folks use the street as their toilet. There is trash and garbage everywhere. Filipinos are too lazy to clean their own city up and seem to be content to wallow in the filth.

Filipinos are taught English in school from K-10 & also in University. Their text books, lectures and exams are all in English yet they speak and understand very little English. Its quiet shameful if you ask me. Just listen to any local TV station, the local news or listen to interviews. The Filipinos will likely always mix Tagalog with English. I again attribute this to the overall non-caring lazy attitude of the Filipinos.

The MRT & LRT stations are disgusting (urine & feces smell) and inefficient (broken elevators & escalators). They have the weakest economy in Asia. They are the most corrupt country in Asia and they have the weakest Military in Asia. All the money for modernizing their country and their Military disappears with no one held accountable.

Manila international airport is so dilapidated it reminds me of 4th world countries in the far reaches of Africa. Even third world shit-holes I have been to greet visitors with a new and modern airport. Wake up Philippines; your airport is the first thing people see and it showcases what you are about.

A few rich Filipinos and mostly Chinese followed closely by Koreans, own and operate the majority of big businesses in the Philippines. Many foreign companies have refused and are refusing to do business in the Philippines because of the corruption and white collar crime. Graft and bribes are the norm everywhere, every day, in everything one does in the Philippines. It's part of their culture and part of their lives. Sad but true. I am not lambasting the Philippines but I am speaking the truth of what the Philippines is about. Although painful to swallow, most all Filipinos will agree with me. That is the honest ones.

The prices in Manila for housing are comparable to the USA anymore because the OFW's and foreigners have driven up the prices. The quality of construction and size of condos in Manila are terrible.The contractors skim money. That and the fact that Filipinos, due to their corrupt nature, gouge all foreigners for everything. They only see foreigners as walking ATM machines. All this makes the Philippines one of the worst places to retire. Stay away - far away.

Thailand & Vietnam are my Asia Picks. Bhudist & not Catholic = less corruption. Spain ruined the Philippines. Now they are ruining themselves. Closing Clark & Subic = 2 Big Mistakes.

J. Schmidt of CA 12:07AM October 22, 2011

Why is the Philippines not here. Here are the top reasons.

1. $ 1 = Pesos 43. You can have a cost of living of under $15 per day per

person is possible

2. We are Catholic. People are God fearing and Filipino hospitality is legendary.

3. Tropical climate.

4. You can hire local help and they can stay with you at home. It will cost

you about less than $100 to hire local help.

5. Our healthcare is at par with global standards.

6. Filipinos know English. The Philippines was an American colony for some years.

Carlo Sadang 8:56PM September 06, 2011

On Retirement

Retirement planning ideas and advice from top personal finance and lifestyle bloggers, including Money Ning, Live and Invest Overseas, Dan Solin, Good Financial Cents, Retire by 40, Retirement–Only the Beginning, Free Money Finance, Money Crashers, The Dough Roller, and Sightings at 60.

advertisement

Our retirement readiness calculator will provide a rough idea of how long your retirement savings and income will last.


Latest Video

advertisement