The Worlds Best Places to Retire in 2018 #Retire #EarlyRetirement #FIRE

The World’s Best Places to Retire in 2018

“Where should I retire?” This is the question that we often hear people ask. The obvious answer is not always the place that we already live in. Also, being a retiree with savings and several sources of income could give you an extra advantage: You can live your retirement in more than one place.

How to Determine the Best Place to Retire

Which are the best countries for retirees? Hard to give the one-fits-all answer. Therefore we should start with the factors that everyone should take into consideration:

  • Cost of living (There are several websites that can help you, such as this one)
  • Health support (Costs, benefits, discounts)
  • Visa and residency requirements
  • Development and infrastructure (Hospital, airport, roads, seaport, and so on)
  • Climate
  • Political Stability (including neighbors)
  • Places that are most welcoming to foreigners (and exclude obviously those who aren’t)
  • Entertainment and cultural events

Study carefully all those factors, and compare them with other options. The best decision is usually an informed decision.

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The Worlds Best Places to Retire in 2018 #Retire #EarlyRetirement #FIRE

Best Places to Retire

According to the Annual Global Retirement Index (International Living), an index that has almost 30 years, here are the best options to have a stable and well-lived retirement:

#1 Costa Rica

Costa Rica is a popular, safe, low-stress place for tourists and U.S. expats. Costa Rica has been known for its stable democracy in a region that has had some instability and for its highly educated workforce, most of whom speak English.
A retired couple can live comfortably on $2,500 a month in Costa Rica. And expats can qualify as residents if they have at least $1,000 a month in income from Social Security, a pension or a similar source per couple.

#2 Mexico

In Mexico, International Living says, a couple can live on $1,500 to $3,000 a month depending on location. The budget includes rent and health care.

#3 Panama

Here the report says you can often live well on $1,500 a month if you choose a place other than the capital, Panama City. Health care typically costs 40 to 75% less than in the United States. Also in Panama, you don’t pay income tax on your overseas earnings.

#4 Ecuador

A family of four can live on about $1,200 a month, not including rent. Very affordable, no doubt! In the Cuenca you can rent a one-bedroom apartment right in the city center for approximately $200 a month.

#5 Malaysia

In Kuala Lumpur, a couple can live comfortably on $1,500 a month. For $700 a month you can rent a 2,195 square-foot, four-bedroom, two-bathroom apartment in Penang. The healthcare costs are also very inferior to those in the US.

#6 Colombia

Colombia has a total cost of living, for a couple of $2,000 a month. In terms of healthcare, the World Health Organization ranked it No. 22 out of 191 for the quality of care, ahead of the United States and Canada.

#7 Portugal

The report says a couple can pay $1,000 a month for a four-bedroom, four-bathroom home, half an hour from Lisbon. Here I must warn you: In Portugal Real Estate / Renting prices have increased dramatically in the last year. And continue to grow. So I would say that this value for a four-bedroom, today is very difficult to find.

#8 Nicaragua

A couple renting in Nicaragua and eating out a few times a week can easily live well on $1,500 a month. 

#9 Spain

The cost of living in many of Spain’s midsized coastal cities is for a couple (including rent and private health insurance) around $2,100 a month.

#10 Peru

In Peru, you can find two-bedroom apartments to rent for as low as $250 per month and couples report monthly expenses of less than $1,000.

Here’s the complete index.

About GTRetire

GTRetire is the founder of GrowtoRetire, a blog about financial independence and early retirement. Click here to learn more about starting a blog! Also, this post may contain affiliate links, please read the disclaimer for more info.

1 thought on “The World’s Best Places to Retire in 2018

  1. What about Bali? It has been voted 2 years in a row as Trip Advisor’s #1 best destination in the world. There must be good reasons behind that, so I did a research on google. I found out, with only $130,000 we can own (not rent but OWN) an apartment. Living expenses is quite low, as low as $800 for 2 people per month! With that money, where can you live in North America? With the money I save towards the retirement fund, i have to be smart enough not to flush the whole money in one place. I think Bali is the best spot that checks all the boxes I had for retirement. Warm, affordable, friendly people, and the best hub to other asian countries, such as Thailand, Singapore, etc and also Australia!
    I am still searching for the best options, but it seems clear to me that Bali will come out as the winner. I think at the end of my research, this will be the place that I am preparing myself to end up with:, I have been in contact with the developer and this place is legit.

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