Where to live for retirees: the best countries to move to after retirement

What are the ideal destinations for relocating after retirement?

In this article, we will present to you places that will pleasantly surprise retirees with their comfort and accessibility. According to the 2023 ranking by International Living, the best countries for retirement include Portugal, Mexico, Panama, Ecuador, and Costa Rica. We will take a detailed look at each of these countries, focusing on important parameters such as climate conditions, visa requirements, real estate and living costs, medical services, safety, transportation, and opportunities for socialization.

Portugal

This country attracts retirees due to low living costs, a wonderful climate, and a high-quality healthcare system. Let's dive into the details.

Climate

The summer season in Portugal is known for its pleasant warmth and many sunny days, with an average temperature of around 20 °C. Winters in the north of the country can be damp and cold, with temperatures ranging from 4 to 10 °C, although snow mainly falls in the mountainous areas.

Visa requirements for retirees

For retirees, a D7 visa is available, specifically designed for people who live on their pension savings or passive income that exceeds the local minimum wage.932.77 euros.

Cost of housing

In Portugal, you can find apartments with an area of 90 square meters starting at123 120to204,570 eurosAdditionally, the rent for one-bedroom apartments starts at406to606 euroswhile three-room apartments start from693to1,053 euros. Utilities will cost approx.101.91 euros.

General expenses

If we exclude rent, the average monthly expenses for two people in Portugal amount to about914.13 euros.

Mexico

Mexico also attracts many retirees with its warm climate and affordable housing prices.

Climate

In Mexico, warm sunshine and clear days prevail, making this country an ideal choice for those looking to escape the cold winter months.

Visa requirements for retirees

Obtaining a visa for long-term residence in Mexico is quite simple if a retiree has a stable income or pension payments.

Cost of housing

In large Mexican cities, the rent for one-bedroom apartments varies from300to500 dollars...while three-room apartments can be rented for...600-900 dollarsReal estate purchases are also available, and prices vary significantly depending on the region.

General expenses

The standard of living in Mexico is quite low, making the country a great place for retirees.

Panama

Panama is famous for its excellent living conditions for retirees.

Climate

The country is characterized by a tropical climate with high humidity, and the temperature rarely drops below25 °C.

Visa requirements

Pensioners can take advantage of a special program that allows them to obtain a visa under a simplified scheme.

Cost of housing

You can buy an apartment in Panama starting from100,000 dollarsThe rent is also quite affordable.

General expenses

With a budget of around$1,300.A retiree can live comfortably in Panama for a month.

Ecuador

Ecuador is attractive to retirees due to its diverse climate and natural beauty.

Climate

The climate in Ecuador varies from tropical on the coast to more temperate in the mountains, allowing everyone to find comfortable living conditions.

Visa requirements

The process of obtaining a visa is quite simple, allowing retirees to stay in the country for a long time.

Cost of housing

The average cost of renting a one-bedroom apartment in Ecuador will be400 dollars...while home purchase prices can vary significantly.

General expenses

A family can live on800-1,200 dollarsper month, which makes Ecuador a very attractive option for retirees.

Costa Rica

Costa Rica is known for its high standard of living and stunning natural landscapes.

Climate

It also has a tropical climate that allows you to enjoy sunshine and warmth almost all year round.

Visa requirements

Costa Rica offers a special visa for retirees, which makes it easy to obtain residency.

Cost of housing

Rental and purchase prices for real estate vary, but compared to other countries, they are quite reasonable.

General expenses

Retirees can expect expenses starting from800to1,200 dollarsper month to live in Costa Rica.

Each of these countries has its own unique advantages that will appeal to those considering life after retirement. The choice of a specific country depends on individual preferences, financial capabilities, and the lifestyle that retirees wish to lead.

Life in Portugal

In cities like Lisbon, Porto, or the Algarve, it's important to consider the higher cost of living and infrastructure development. Portugal's healthcare system is pleasantly surprising in its accessibility and ranks an impressive 12th in the world according to the World Health Organization.

Citizens of the country have the opportunity to use public medical services completely free of charge, as well as to apply to private medical institutions. The cost of private health insurance is approximately 50 euros per month for one person, which makes it quite affordable.

Transport capabilities

There are three international airports in Portugal that provide convenient connections to other countries. The roads and highways in the country are considered some of the best in Europe; they are easy to travel on and have plenty of places for rest and stops.

Using public transport is one of the most convenient options for getting around. Additionally, there are bike rental services, ferries, and the famous funiculars that help navigate steep areas.

A monthly public transport pass costs 41.84 euros, while the taxi fare (per kilometer) is about 4 euros. A liter of gasoline will cost approximately 1.68 euros.

Security in the country

From a security standpoint, Portugal ranks highly as one of the most peaceful countries on the planet, holding the 6th position in the global peace index. Citizens need not fear crime, and the level of comfort and self-sufficiency in the country is very high.

Social life

Social life in Portugal is quite diverse. The country is home to over 500,000 foreigners, which significantly eases the process of integrating into the local community. The most popular cities for expats include:

• Lisbon
• Porto
• Silver Coast
• Algarve

Where is it easiest to make new acquaintances?

Climate and life in Mexico

Now let's take a look at Mexico, where the climate ranges from tropical in the south to more temperate conditions in the central and northern regions. Most of the time, warm and sunny weather prevails here throughout the year.

Visa policy for retirees

As for visas for retirees, the first option is to apply for a temporary resident visa, which allows for residence in Mexico for up to four years with the possibility of annual renewal. To apply for this visa, you will need:

• Confirmation of income or investments of about $2550 per month
• Or $45,000 a year

After the four-year period, you have two options: either submit a new application for a temporary visa or change your status to obtain permanent residency. To apply for a permanent visa, you need to:

• To have a minimum income or pension of about 4400 dollars a month.
• Or savings in a bank account amounting to $180,000 over the past year.

This visa has no expiration date and remains valid indefinitely.

Real estate market

When it comes to the real estate market in Mexico, buying a 90 square meter apartment can range in price from 52,020 to 72,810 euros. Renting a one-bedroom in Mexican cities ranges from 161 to 248 euros, while a three-bedroom apartment can cost from 336 to 495 euros, making the different housing options quite affordable to rent.

The cost of utilities and living in Mexico

The expenses for utilities in Mexico amount to about €34.06. It is important to note that if we consider only the basic monthly expenses, excluding housing costs, a couple of adults can expect expenses in the range of €551.35.

It's interesting that there is a program for citizens over 60 years old.INAPAMwhich provides significant discounts on services such as transportation, medical care, utilities and various taxes, which in turn helps you save a lot of money.

Medical services in Mexico

One of the key aspects to consider for those planning to move to Mexico is the availability of medical services.

• Mandatory health insuranceIMSSIt costs between €300 and €800 per year, depending on the age of the insured.
• Legal residents of the country can take advantage of the free government plan.INSABIor contact private medical companies for insurance.

Safety when moving to Mexico

When you decide to move to Mexico, it's important to pay attention to safety issues as well. Unfortunately, the country often appears on lists of high-risk places for life. The most troubled regions are considered to be:

• Tabasco
• Veracruz
• Guerrero
• Oaxaca
• Chiapas

Nevertheless, the cityMeridastands out for its high degree of security and affordable prices, making it an attractive place to live, especially for retired people.

Transport in Mexico

As for transportation, Mexico has a wide variety of what are calledtrucks- Bright buses, which are a popular means of transportation. In the capital of the country, Mexico City, there is a modern metro system in operation.

• A monthly pass will cost around €14.77.
• A taxi ride for a distance of 1 km costs about €0.44.
• A liter of gasoline will cost about €0.80.

Social life in Mexico

Social life in Mexico is full of diversity and offers many opportunities to socialize with others. In every state you can find migrant communities, making it easy to find like-minded people. Moreover, most cities regularly host free concerts, street theaters and other events that promote active socialization.

Panama as a place to live

Now let's pay attention toPanamaa country that attracts many retirees and remote workers due to its calm pace of life and pleasant tropical climate. Here, there are incredibly beautiful beaches, exotic jungles, and modern cities – all of this is accessible to the locals.

Climate in Panama

When it comes to climate conditions, Panama boasts one of the sunniest places on the planet.

Cost of living in Panama

The cost of living in Panama, excluding housing expenses, is approximately 902.70 euros for a couple.

Medical care

In the field of medicine, foreign retirees can become participants in the social security system Caja de Seguro Social (CSS), which is the country's public healthcare institution.

To join this system, you must meet certain requirements:

• availability of a "pensionado" visa;
• the presence of a spouse who is a citizen of Panama.

CSS offers medical services at reduced prices. There is also an option for private or international health insurance that covers medical expenses both within the country and abroad.

The minimum monthly contributions for private insurance start from50 to 100 dollarsfor basic coverage, and the average cost of international health insurance ranges from2800 to 5700 dollarsper year.

Safety

When it comes to safety issues, Panama is generally considered a relatively secure place for both living and vacationing. The crime rate here is lower compared to many other countries in the region, but it's always wise to remain vigilant, no matter how obvious that may seem.

Transport system

Panama also takes pride in its developed transportation infrastructure. The main international airport provides easy access to numerous cities in the USA, Canada, and Europe.

Within the country, travelers can use water taxis or a train that runs along the Panama Canal. The average cost of a monthly pass is about29.72 euros...and a taxi ride for a distance of one kilometer will cost...1.91 eurosA liter of gasoline costs approximately0.72 euros.

Social life

Social life in Panama is strikingly diverse: people from many different countries live here, including the United States, Venezuela, France, South Korea, Jamaica, and others.

This multicultural society creates an atmosphere of comfort and safety, allowing local residents to easily interact and communicate with each other.

Ecuador: an attractive country for retirees

Now let's switch to Ecuador, which is located between Colombia and Peru and consistently ranks high in the lists of countries most attractive to retirees. This country is particularly popular among citizens of North America and Europe.

Climate

The climate in Ecuador is practically ideal: regardless of the region you live in, you can enjoy comfortable temperatures here.

On the coast, the air warms up to21 °Cthanks to the gentle sea breeze, while in the mountains the temperature fluctuates between15 and 20 °Ccreating favorable living conditions.

Visa for retirees

Foreign retirees wishing to move to Ecuador can obtain a special visa for retirees. The minimum pension amount must be at least800 eurosper month.

Real estate

As for the real estate market: the cost of purchasing a 90 square meter apartment in Ecuador ranges from97,470 to 113,940 euros.

Regarding rent, a one-bedroom apartment in different cities in Ecuador will cost from255 to 320 euros...while the rent for a three-room apartment will start from...463 to 552 eurosper month.

The utilities account for about37.06 eurosper month.

Cost of living in Ecuador

The cost of living in Ecuador for a couple, excluding housing expenses, is approximately €803.73.

Medical care

When it comes to medical assistance, it's important to know that the prices for the IESS state health insurance for foreign retirees depend on their monthly income. This percentage ranges from 17% to 21%. For example, if your income is $1000, the amount you will have to pay for insurance will vary from $170 to $210 per month.

On the other hand, private health insurance rates for retirees can range from $100 to $500 per month, and in some cases, they can even exceed this amount. Additionally, international insurance premiums can vary from $200 to $1000 or more, depending on various factors such as the level of coverage and individual circumstances.

Level of security

In terms of safety, Ecuador shows a relatively low crime rate. By following basic precautions, life in this South American country can be quite safe.

Transport

An efficient domestic air transport system has been developed for long-distance travel in Ecuador. There is also a wide network of bus routes and railway lines. A monthly travel pass costs about €11.89, while a taxi (per kilometer) will cost approximately €0.99. A liter of gasoline can be purchased for about €0.43.

Social life

Social life in Ecuador is diverse due to the settlement of emigrants in various regions of the country, based on their preferences. Large emigrant communities are mainly formed in areas like Salinas, while smaller groups can be found in the village of Cotacachi and the modern resort city of Cuenca.

Active recreation

Ecuador offers a variety of options for outdoor activities, including:

• hiking
• surfing
• birdwatching

These activities attract nature lovers and those who lead an active lifestyle.

Climate and emigration to Costa Rica

Now let's move to Costa Rica, located in Central America, which borders Nicaragua to the north and Panama to the south. More than 10% of the over 5 million people living in Costa Rica are immigrants, many of whom are retirees moving to this country.

It's interesting that after the disbandment of the army in 1948, the funds that were previously allocated for military needs were redirected towards the development of education and healthcare, which significantly improved their quality in the country.

Climate

The climate of Costa Rica is tropical and suitable for those who love warmth. For those seeking more moderate conditions, the highlands around San José and the Central Valley are ideal.

Visa for retirees

In Costa Rica, foreign retirees are given the opportunity to obtain a special visa known as"pensioner visa"or“rentista visa”To obtain such a visa, you need to have a minimum monthly income of around €2500.

Conclusion

In conclusion to our guide on possible retirement relocation destinations, it's important to note that choosing the perfect place to live is more than just a matter of housing or climate. It's a decision that touches on many aspects of your life, including safety, access to healthcare, social environment, and the opportunity to enjoy an active lifestyle.

Portugal, Mexico, Panama, Ecuador, and Costa Rica—all of these countries offer unique opportunities for retirees ready to start a new chapter in their lives. Each of these countries has its own highlights, from beautiful landscapes to rich culture, that can enhance your experience.

I have thoroughly examined each of the mentioned areas, and each of them has its distinct advantages. For example,PortugalIt delights with its mild climate and high level of medical care, whileMexicooffers a more economical way of life with a warm tropical climate.Panama,EcuadorandCosta RicaThey also complete our list, each with their unique offerings. This selection was based not only on personal preferences but also on reliable information about the cost of living, visa requirements, and overall comfort level.

Ultimately, it's important to remember that the best place to live in retirement is where you will be happy and able to enjoy each day. Consider your priorities; it might be a cozy beach town, a picturesque village, or a vibrant city with an active social life.

Regardless of your choice, I am confident that this new chapter in your life will be a vibrant and memorable experience. Moving into retirement is not just a change of residence, but an opportunity to start something new and exciting. I hope that my review will help you make the right decision and fully enjoy this new stage of life.