12 Underrated Retirement Havens For U.S. Citizens Abroad
At retirement, people have the time to look back, relax, and have new adventures. According to Forbes, for a lot of Americans, the opportunity to retire abroad is one that not only promises a slightly lower cost of living but also a higher quality of life. Some lesser-known countries have rich cultures, excellent healthcare, and favorable living conditions for ex-pats without the crowds.
Belize
An English-speaking country on the eastern coast of Central America, Belize is home to retirees searching for tropical weather and a laid-back lifestyle at a meager cost of living. Belize’s Qualified Retired Person (QRP) program gives on income earned abroad and perks up quite readily for retirees living on a foreign income. In addition, the country offers a variety of ways to live, from beachside properties to far-flung rural areas. As the country attracts more foreign residents, healthcare is improving in affordability. With Belize so close to the United States, it’s even easier to move, and so many expats moving there adds charm.
Malaysia
Malaysia is one that retirees may overlook in favor of its more famous neighbors. Still, it’s one of the best options for retirees wanting a mix of modern conveniences and affordability. There is a long-term residency program, known as “Malaysia My Second Home”, for retirees, and the cost of living is very affordable compared to what you’ll pay in Western countries. The healthcare in Malaysia is fantastic, with hundreds of first-class private hospitals and clinics for foreigners. The vibrant food culture, beautiful landscapes, and English being widely spoken in urban areas means that expats can easily integrate.
Uruguay
Uruguay is in South America and is known for its political stability, high standard of living, and modern infrastructure. It is well known for safety, excellent healthcare, and inexpensive housing, especially in smaller cities like Punta del Este or Montevideo. The lifestyle of Uruguay is relaxed, with beaches and countryside combined. The country’s steady economy and universal healthcare system qualify this place as a proper retirement-friendly place welcoming citizens and expatriates.
Portugal
Portugal’s interior regions are an idyllic and affordable alternative to Lisbon and Porto. The big cities compete against these areas that provide stunning landscapes, a slower pace of life, and much lower housing prices. The gentle weather with a fair amount of sunshine all year is ideal for hiking or touring a vineyard. Portugal has one of Europe’s best healthcare systems, and foreign retirees get plenty of tax breaks.
Spain
With a combination of culture, history, and beautiful Mediterranean landscapes, Spain is an excellent – and underrated – retirement destination. Compared to main hubs such as Madrid or Barcelona, more affordable housing and a more relaxed lifestyle are available in smaller cities like Valencia or Alicante. Spain has a highly rated healthcare system, a warm climate, and plenty of activities, all allowing retirees to live a high life at a reasonable cost.
Malta
Malta is in the center of the Mediterranean and boasts a warm climate, a long history, and a well-established expat community. Being an island nation, it has some of the best healthcare in Europe and a taxation system attractive to those hoping to retire, especially if they have foreign income. English is one of the official languages, so it’s easy for American retirees to integrate. While the country is small, it is beautiful, with a coastline full of medieval towns, historic sites, and a mix of modern conveniences and traditional Greeks.
Panama
Because of the Pensionado Program it offers, Panama remains a favourite among retirees. It’s convenient for retirees to stay in touch with family and friends because Panama is close to the U.S., a few hours by plane. There are urban areas of Panama City that have a cosmopolitan feel to them, but there are also rural retreats outside of the city that have a slower pace of life. Even with affordable healthcare and a low cost of living, Panama has a well-developed infrastructure and continues to be one of the best places for Americans to retire.
Slovenia
While overshadowed by neighboring Italy and Austria, Slovenia is an excellent place for retirees, thanks to its high standard of living and active outdoor lifestyle. Renowned for their scenic natural landscapes – lakes, mountains, and caves – make the country a good place for people who like to get out there. Slovenia has first-class health care and an affordable price for most expats. Also, the country has a lower cost of living than Western Europe, especially in smaller cities like Maribor.
Thailand
Thailand is such a popular choice for retirement, but if you want to escape the crowds and enjoy some of the cheaper destinations, the islands and smaller cities can be the perfect options. Places like Chiang Mai present a very peaceful environment with less cost of living. Excellent, affordable private healthcare, the warm tropical climate, vibrant culture, and world-famous Thai food can be enjoyed by retirees. Thailand offers plenty of long-term visas and low-cost entertainment, perfect for a retirement lifestyle.
Austria
Austria offers a high quality of life, stunning alpine landscapes, and a rich cultural heritage. Cities like Vienna and Salzburg are famous for historical relics and active art scenes. It has an excellent healthcare system and is one of the safest countries in Europe. With the cost of living, the services offered are exceptional, and the lifestyle is perfect for retirees who want to live in Europe.
Colombia
Colombia is an often ignored option for retirees, where affordable living, low-cost healthcare, and a pleasant climate are ideal options for retirement. The best deals off the grid can often be found in cities like Medellín, with a pleasant spring-like climate year-round. Colombia is an excellent choice for retirement in Latin America with its excellent healthcare system, many modern hospitals offering high-quality care at a fraction of the cost of the U.S., its culture, vibrant cities, and friendly people.
Greece
Greece is famous for its islands, but the mainland is a terrific value for retirees who want a quieter life. Cities like Nafplio or Kalamata have beautiful surroundings and slower lifestyles, and they offer access to the Mediterranean without all the high costs of the islands. Living in Greece is affordable, and healthcare services are a breeze since you have nothing to worry about. Retirees can enjoy an active retirement in rich history, stunning landscapes, and local produce, living in a country that prizes a way of life of slow living and significant meaning.
While Costa Rica and Mexico are often seen as the best places for retirees to live, there are many less talked about countries where retirees can have an even higher quality of living for less money. However, with so many options, these destinations provide a range of benefits that may be the right fit for affordable healthcare, a vibrant culture, or simply a new adventure. A look at these hidden gems can help U.S. retirees find the right place to spend their golden years with beautiful natural scenery, modern amenities, and a low cost of living.
This article was inspired by Forbes’s “The Best Places To Retire Abroad in 2024.”
