Americans looking for an affordable retirement shouldn't overlook overseas options, according to a new report.
International Living has compiled its 2021 Annual Global Retirement Index to find options for affordable and sometimes exotic destinations to retire.
Relying on input from a global network of expats, International Living compared 25 countries across 10 metrics: housing; benefits; visas/residence; fitting in/entertainment; climate; healthcare governance; opportunity; and cost of living.
Each of the countries ranked in the 2021 Annual Global Retirement Index is open to U.S. citizens during the ongoing Covid-19 pandemic, according to International Living.
Here, in ascending order, are International Living's top 10 best places to retire in 2021:
10. Vietnam
Once a French colonial possession, then a divided war-torn country, Vietnam is today a peaceful, friendly nation known for its beaches, rivers, Buddhist pagodas and bustling cities. The country scored a near perfect 99 for cost of living, as well as an 84 for healthcare, but earned a not-so-great score of 60 in benefits, visas/residence, and climate.
9. Malta
History buffs will love this Mediterranean nation’s numerous fortresses, temples and subterranean complex of halls and burial chambers dating back to 4,000 B.C. Boasting an easygoing way of life coupled with European charm, Malta scored a 90 in fitting in/entertainment, but a not-so-impressive 63 in climate, 66 in housing and 68 in cost of living.
8. France
France is a dynamic western European country that will seduce the pickiest epicure, most demanding fashionista, or jaded tourist in search of new and stimulating sensory experiences. But European fine living does not come cheap: While France scored an 84 in healthcare, the country earned a 69 for cost of living and a 65 for housing.
7. Malaysia
Malaysia is a southeast Asian country that has a lot going for it—white sand beaches, vibrant rain forests, urban centers punctuated with skyscrapers, and a diverse mix of Malay, Chinese, Indian and European cultural influences. The country scored an impressive 91 in cost of living and a 90 in healthcare, but an unimpressive 64 in benefits and 62 in climate.
6. Ecuador
Straddling the equator on South America’s west coast, Ecuador’s ecologically diverse landscape is a treasure chest of natural beauty that includes the Amazon jungle, Andean highlands and wildlife-rich Galápagos Islands. The country earned near-perfect scores of 95 in benefits and 93 in cost of living, but a 70 in governance, 74 in opportunity, and 75 in development.
5. Portugal
Bordering Spain on Europe’s Iberian Peninsula, Portugal was once a powerful maritime empire. Full of Old World charm, today it is a favorite of expats. Portugal earned a score of 95 in healthcare; 84 in cost of living; and 87 in both housing and fitting in/entertainment. However, the country’s governmental red tape earned it a 64 in visas/residence. T
4. Columbia
This beautiful gateway country to the Andes mountains and Amazon rainforest is South America’s geographical jewel—diverse, dramatic and breathtaking to behold. It is also within an easy commute of Miami and Fort Lauderdale, Fla. Columbia scored a near-perfect 96 in healthcare and an 89 in cost of living, but just 71 in opportunity.
3. Mexico
More than one million happily-retired Americans and a half-million Canadians call Mexico home, making it one of the most popular expat destinations in the world. You’re sure to find a new friend among them. Mexico scored an impressive 94 in entertainment and a 90 in healthcare, but the country earned a so-so score of 68 in governance.
2. Panama
If you’re in search of a retirement destination that delivers value for your hard-earned retirement dollars, Panama checks all the boxes. The country offers ocean views, warm weather and big-city amenities. With a 96 in benefits and a 97 in visas/residence, the country opens its arms to expats. But with a score of 80, housing is no bargain.
1. Costa Rica
Costa Rica is a peace-loving country nicknamed the Switzerland of Central America. Known for its biodiversity and natural beauty, Costa Rica attracts millions of visitors and foreign residents throughout the year. The country scored a 92 in fitting in/entertainment, and an 88 in benefits, but a not-so-great 74 in housing.
The full report can be viewed here.
