Best places to retire

Best place to retire in the world

The best place to retire in the world is the Nicoya Peninsula in Costa Rica. As a blue zone country, residents there tend to live much longer. The tropical paradise stands out among the blue zones for its affordability, safety, pleasant climate, access to beautiful beaches and nature reserves, and relaxed lifestyle.

Portugal's well-preserved historic towns, such as Porto and Sintra, offer a blend of charm and tranquillity...

Best places to retire in Europe

The best places to retire in Europe include Spain, Italy and Portugal.

Spain

Spain's biggest allure for retirees lies in its sunny climate and lower living costs than much of Western Europe. With a vibrant culture, delectable cuisine, and an established infrastructure catering to retirees, La Roja (The Red One) is hard to beat. From the sun-soaked beaches of the Costa del Sol to the rugged cliffs and hidden coves of the Costa Brava, you'll always have places to explore.

The warm, friendly locals and colourful festivals make it easy for retirees to immerse themselves in the Spanish way of life.​

Italy

Italy beacons retirees wishing to settle in a charming land full of historic art and exquisite food. The boot-shaped country's varied landscapes include the rolling hills of Tuscany, the stunning Amalfi Coast and the serenely beautiful lakes of the north.

You can explore historic sights such as the Colosseum in Rome, Venice's canals, and Florence's 1581-built Uffizi Gallery. Italy's national healthcare system, known as "iscrizione obbligatori", ranks among the best in the world. Retirees can access low-cost or free essential medical services for a yearly fee.

Portugal

Portugal's well-preserved historic towns, such as Porto and Sintra, offer a blend of charm and tranquillity attractive to older locals and expats. It also boasts some of Europe's best-loved beaches along the Algarve, featuring golden cliffs and turquoise waters.

The locals are warm and hospitable, making it easy to integrate into Portuguese culture. Portugal's clean and efficient public transportation system spans the country, including trains, trams, ferries, metros, buses and funiculars. Enjoy picturesque coastlines, a pleasant climate and a famous culinary scene featuring fresh seafood and world-class wines.

Best places to retire in the US

The best places to retire in the US are Florida, Colorado, Virginia, Delaware and Wyoming, according to a 2024 survey by US-based online finance company WalletHub. Factors used in the scoring were affordability (including tax rates), quality of life and access to quality healthcare services. Florida came out on top thanks to zero estate, inheritance or income taxes, low adult care costs, the stunning shoreline and an array of outdoor activities for elders. The sunshine state has long been a favourite of retirees — in 2021, there were 4.6 million adults aged 65 and older, second only to California.

Many American retirees avoid the hustle and bustle of the cities and opt for towns and rural spots to spend their golden years in. Realtor.com's recent survey on the best retirement towns in the US highlighted affordability, weather, and proximity to urban centres and medical facilities.

The top three locations were:

1. Sun City Center, Florida

Average age of retirees: 71
Average house price: US$315,000

2. Green Valley, Arizona

Average age of retirees: 74
Average house price: US$349,000

3. King City, Oregon

Average age of retirees: 63
Average house price: US$375,000

Crime is another primary concern for US retirees. Results from the crowdsourced database Numbeo lists Salt Lake City (Utah), Boston (Massachusetts) and San Diego (California) as the safest US cities. Questions posed to respondents included, "Are you worried about being mugged or robbed?", "Does your city have a corruption and bribery problem?" and "Are you worried your car could be stolen?".

...Numbeo lists Salt Lake City (Utah), Boston (Massachusetts) and San Diego (California) as the safest US cities.

Best cities to retire

The best cities to retire in are Sofia (Bulgaria), Lisbon (Portugal), Edinburgh (United Kingdom), Cuenca (Ecuador) and Chiang Mai (Thailand).

Sources: Numbeo, XE.com and Time and Date

Best countries to retire on a budget

The best countries to retire on a budget are Mexico, Thailand and Ecuador. All three nations have an enviable climate, warm and welcoming people, and plenty of activities for retirees, all at a cost that won't stretch your pension too far.

Mexico is known for its warm weather, lively cultural life and low cost of living, especially in cities like Mérida and Puerto Vallarta. Healthcare is affordable and of good quality. In fact, in 2020 alone, three million people from around the world made the trip to Mexico for medical and dental care. The added proximity to the US makes it a convenient choice for many retirees​.

Thailand is an attractive destination for retiring singles and couples. Cities like Chiang Mai offer affordable housing, excellent healthcare, and a welcoming community of expatriates. Street food and local markets often include meals at very low prices. The country's laid-back attitude and warmth towards expatriates add to its appeal​.

The average monthly living costs for a single person in Ecuadorian cities like Cuenca, including rent, are as low as US$887. The South American nation also offers affordable healthcare, with costs significantly lower than in the US or Europe. If that isn't enough, the beautiful landscapes, from the Andes mountains to the Pacific coast, mild climate, and thriving expatriate community just might!