10 best countries to retire - any been there?

[ItDontMeanAThing]

I do not understand why Malaysia is on the list. We would rank Thailand far above Malaysia. We have spent 4 of the past 5 winters in this part of the world.

Thailand had a military coup in 2014. Depending on who defines a coup, it's either their their 19th or 21st. If the pattern holds, someday the military will step down and the country will return to a constitutional monarchy and a parliamentary democracy. In the meantime, I can see how people wouldn't want to live under military rule.

 

[brett]

We spent six weeks in Costa Rica. We met a number of people who moved there after retirement and those who had condos and planned to move down after retirement. Same for Panama.

Their reasons seem to fall into one or more of three categories....inexpensive health care, low cost of living, warm weather/better climate.

We were told by expat friends who have been in Panama for 25 years that there is a large turnover. Many people visit on vacation and then decide to buy. A year or two later they decide that the expat life is not for them or they do not want to go to the same place year after year. In Costa Rica we were told that there are lots of real estate scams. Only buy a place that is up and running, not a new build, not a lot with building plans.

 

[MichaelB]

My "Plan A" was to retire overseas, but it didn't work out. Now that I've spent a fair amount of time back in the US, my thinking has changed. If we were to consider relocating now, I think there are plenty of good options here in the US, certainly more than enough for us.

If we were to consider once again moving abroad, it would not be a financial consideration and have to be motivated by cultural / lifestyle. As we age I'm finding it easier to "settle in" and more challenging to change. Moving to a different country is quite a disruption, and I just don't see the need or have the desire.

 

[candrew]

I love Costa Rica. Been there once. Beautiful country, friendly people, slower pace, about a 3 1/2 hour flight from Houston to Liberia. I’ve watched a lot of programs about expats who now call Costa Rica home. I believe I could do it as well but there is no way DW would...

DW & I have been living in Costa Rica since early January of this year in the Costa Ballena area (SW Pacific coast).

The natural beauty here is stunning and terrestrially very bio-diverse. Culturally, we have found Costa Rica lacking in comparison to Mexico. It seems most expats here sequester themselves from the locals behind gated enclaves.

We have found that COL in this particular part of Costa Rica to be similar to the U.S. when it comes to the essentials like housing, food, utilities, etc. When publications like International Living claim that a person can retire in Costa Rica on $1K/month USD, that would barely eek out an existence in an area like Costa Ballena. It might be doable in areas around San Jose or San Isidro.

 

[candrew]

Many people visit on vacation and then decide to buy. A year or two later they decide that the expat life is not for them or they do not want to go to the same place year after year.

We have heard what seems an endless number of stories from and about expats here in Costa Rica that echo your post.

Many expats here also end up "over-building", constructing large, expansive homes and then find it difficult to resell them in the current market. It seems many of these homes were built with the original intent of full-time residency on the part of their owners. In most cases, however, owners are here for the 4 month "dry-season", December - April, then return to the U.S. or Canada for the rest of the year. Some of these folks are lucky enough to find long-term renters for the other 8 months, others only intermittently. Some leave their homes vacant.

 

[kcowan]

We have friends from Seattle who moved to PV MX full-time and built a 5000 sq.ft. villa east of town because they could. Then wife got cancer. Once they turned 65, they decided to move back for Medicare. It took them 3 years to unload their place. And several price drops. This at a time when condo prices near the ocean were escalating.

I would recommend renting in these foreign places. It is possible to get a 12 month lease and then sublet when you go elsewhere.

 

[texasdiver]

Lots of Latin American countries here. Surprised that Chile is not on the list. Perhaps the COL is too high? In any event, my wife and I are most likely planning to split time between Chile and the Pacific Northwest in our retirement. Take a 100 mile wide swath of the west coast of North America from SE Alaska to Cabo San Lucas, flip it upside down, and you basically have Chile except that the mountains are much higher.

My wife is Chilean though, so we have reason. Lots of extended family there and her family have properties around Santiago and the coast. We try to visit at least once a year and have sent all our kids down on their own as exchange students so we have lots of ties.

Chile is a model of efficiency compared to the rest of Latin America (with the exception of Uruguay). There's basically no corruption and things just work well. And the medical system and hospitals, at least in Santiago, are every bit the equal of the US. But I suppose that comes at a cost compared to places like say Peru, Equador or Colombia.

 

[Red Badger]

I've visited 7 out of the 10, and of the ones I've seen, in any small degree, I'd only consider Spain or Portugal.

How about, Bulgaria, Romania, Hungary, Czech Republic, Poland?

+1. Many eastern European countries are low cost and beautiful with the added benefit of stable, democratic governments.

My two cents on the list.
The LA countries listed consist of many with questionable governing models and a volatile mix of safe/dangerous areas.
The two EU counties are part of the PIGS and could be subject to the austerity whims of the EU.
Malaysia has it's own issues, including Muslim unrest in many parts of the country.

I guess we'll just tough it out in the Peoples Republic of North Carolina.

 

[Nemo2]

+1. Many eastern European countries are low cost and beautiful with the added benefit of stable, democratic governments.

On our trip to Bulgaria last Spring it appeared that, around the Veliko Tarnovo area and perhaps elsewhere, there are now pockets of Brit expats.

 

[Freedom56]

Another top-10 list of best places to retire. This one focusing on foreign countries with low COL. Wondering if anyone on here has visited or even lived in any of these places and can chime in if they agree or not. Are these places that are so inexpensive also safe (there's been discussion of that RE Mexico lately)? Also curious which of these places would let you live long term rather than just visit as a tourist.

1. Costa Rica
2. Mexico
3. Panama
4. Ecuador
5. Malaysia
6. Colombia
7. Portugal
8. Nicaragua
9. Spain
10. Peru

I'll flip a coin between Southern California and South East Florida. Nothing on that list even comes close.

 

[kcowan]

I'll flip a coin between Southern California and South East Florida. Nothing on that list even comes close.

I would think you would have to pick the Cuban district of Miami for

This one focusing on foreign countries with low COL

for comparison.

 

[Freedom56]

I would think you would have to pick the Cuban district of Miami for for comparison.

Our l fixed housing costs in Southern California are:

$10326 annually for a 3400 SQ FT modern home with a pool/spa outdoor kitchen, indoor fitness room, and fully upgraded interior and exterior in a great and safe neighborhood. That includes property taxes, home insurance, earthquake insurance, water, electricity, phone, high speed internet, TV, phone, security monitoring, and cell phones. That's only $860 per month. Proposition 13 keeps our property taxes low.

For Florida our fixed housing costs are:

$10820 for a 1440 Sq ft upscale condo (with pool/spa, fitness center) in a modern downtown building walking distance to everything, for all of the above (including condo fees) with very little maintenance from us. That's only $902 per month.

Which country on that list can beat those costs for the same amenities, quality, and security? As for food, you can't beat the quality of the produce from California and South Florida.

I've been to many of those countries on that list. I don't want to live in a home with bars on all my windows.

 

[brett]

We came to the conclusion that we would prefer to live where we do for six-eight months a year and then travel for the balance.

Each time we travel we consider buying property and or becoming expats. So far it has been thumbs down, for various reasons, to Europe, Central America, USA, and SE Asia in terms of buying or living for six months of the year. We are still undecided on Mexico-specifically Puerto Vallarta. No rush and so may other places on our list to visit. Equador is near the top of one list so we may get there sooner than later and suss it out.

 

[Retirement_Rookie]

Our l fixed housing costs in Southern California are:

$10326 annually for a 3400 SQ FT modern home with a pool/spa outdoor kitchen, indoor fitness room, and fully upgraded interior and exterior in a great and safe neighborhood. That includes property taxes, home insurance, earthquake insurance, water, electricity, phone, high speed internet, TV, phone, security monitoring, and cell phones. That's only $860 per month. Proposition 13 keeps our property taxes low.

For Florida our fixed housing costs are:

$10820 for a 1440 Sq ft upscale condo (with pool/spa, fitness center) in a modern downtown building walking distance to everything, for all of the above (including condo fees) with very little maintenance from us. That's only $902 per month.

Which country on that list can beat those costs for the same amenities, quality, and security? As for food, you can't beat the quality of the produce from California and South Florida.

I've been to many of those countries on that list. I don't want to live in a home with bars on all my windows.

Those are great costs for SoCal -- and for Florida. Congratulations! I've lived in both NorCal and SoCal (the Bay Area and the San Diego area) and in areas that I would live in either part of California housing prices are between three and four million dollars. But it's true that people who have lived there for decades or who are willing to live further out can obviously find bargains.

But there's a key point here about living in the USA vs living abroad in retirement. You'd better really be prepared for some attitude adjustments if you decide to retire abroad. It's really very different. In most of the places on the list of ten countries you have to learn a different language. That's a major commitment and some people just can't ever succeed at that. Are you willing to live someplace where you can't communicate with your neighbors if you can't learn the language?

I love living abroad and wouldn't change it for life in California which has become too crowded for me, too hectic, too chaotic. But it's a personal choice. While medical care is often excellent abroad (indeed, better than in the US, according to lots of studies, and certainly far less expensive), what will you do if your doctors don't speak English or if your health insurance doesn't cover you abroad?

I've worked with a lot of US retirees living abroad over the years. I can't emphasize enough that one shouldn't even think of buying unless one has spent at least a year, and probably several, living in a foreign country which one is considering for permanent retirement relocation. I've dealt with lots of horror stories over the years. Renting is a way better way to go.

Culture shock can be huge. Living abroad can be extraordinarily rewarding. But one has to be willing to deal with the inevitable culture shock of moving overseas. It's definitely not for everybody.

 

[Freedom56]

Those are great costs for SoCal -- and for Florida. Congratulations! I've lived in both NorCal and SoCal (the Bay Area and the San Diego area) and in areas that I would live in either part of California housing prices are between three and four million dollars. But it's true that people who have lived there for decades or who are willing to live further out can obviously find bargains.

But there's a key point here about living in the USA vs living abroad in retirement. You'd better really be prepared for some attitude adjustments if you decide to retire abroad. It's really very different. In most of the places on the list of ten countries you have to learn a different language. That's a major commitment and some people just can't ever succeed at that. Are you willing to live someplace where you can't communicate with your neighbors if you can't learn the language?

I love living abroad and wouldn't change it for life in California which has become too crowded for me, too hectic, too chaotic. But it's a personal choice. While medical care is often excellent abroad (indeed, better than in the US, according to lots of studies, and certainly far less expensive), what will you do if your doctors don't speak English or if your health insurance doesn't cover you abroad?

I've worked with a lot of US retirees living abroad over the years. I can't emphasize enough that one shouldn't even think of buying unless one has spent at least a year, and probably several, living in a foreign country which one is considering for permanent retirement relocation. I've dealt with lots of horror stories over the years. Renting is a way better way to go.

Culture shock can be huge. Living abroad can be extraordinarily rewarding. But one has to be willing to deal with the inevitable culture shock of moving overseas. It's definitely not for everybody.

Don't get me wrong, I would consider living abroad, but not in the countries on that list or Eastern Europe. We bought our home in 1995 so our property tax base was much lower. Owning your properties free and clear here also helps keep costs down. As we age, comfort, quality of life, and access to good healthcare are more important to us. People need to compare "apples with apples" when comparing cost of living here vs abroad. Plus you are subject to US taxation whether you live here or abroad.

We also own a home in Lausanne Switzerland. It was given to us by my father-in-law about 20 years ago. We spend about 2 months per year in Switzerland, so we are familiar with living abroad. We speak French, Italian, and Swiss German and have real social connections in Europe. We attend weddings and other social events there quite frequently. My wife has a very large extended family there. But everything is expensive there from housing, food, to healthcare. I would never consider living there permanently. Many people from abroad visit us in California and Florida and are shocked by the quality of life here. So the grass isn't always greener overseas. There are 50 states to choose from before considering leaving.

As far as healthcare goes, like anywhere you get what you pay for. You can get lousy care here or you can get the best care in the world. My wife was working as a OR/surgical nurse in both Switzerland and at Cedar Sinai Hospital here in Los Angeles. She believes the health care is better here than in the Hospitals in Lausanne Switzerland which doesn't say much for the countries on that list. Her viewpoint may be biased by the facilities at Cedar Sinai and UCLA versus the less modern facilities in Switzerland. A comment she makes frequently is that people here are generally very overweight which often complicates matters during surgery and post op. But that is a different matter. My brother is a doctor (Radiology and Nuclear Medicine) and he laughs at those studies claiming healthcare is better abroad. We get second opinions regularly from him for my in-laws (free of charge). The system is not perfect here but from what I have seen while visiting people in hospitals in Europe over the past 27 years, I'm more than happy with my doctors here. I have seen many pass away in their 40's and 50's and wonder what their outcome would have been here.

 

[Retch The Grate]

Thailand had a military coup in 2014. Depending on who defines a coup, it's either their their 19th or 21st. If the pattern holds, someday the military will step down and the country will return to a constitutional monarchy and a parliamentary democracy. In the meantime, I can see how people wouldn't want to live under military rule.

None of the changes in government have seemed to impact my uncle who retired there about 15 years ago, nor in any meaningful way any of our Thai friends. Not to downplay military coups, nor the change in who the monarch is (the old king was beloved and respected and seemed to be believed to genuinely care about the country, the new king's reputation is less positive), but from a day to day life thing, everybody I know (which is not the same thing as all people in the country) is doing fine there.

 

[97guns]

Just bought one of the sweetest pineapples I’ve ever tasted here in Thailand for .25 and I’m originally from Hawaii, basically any kind of tropical fruit you want for $1/kilo, going back to the market this evening for dinner, $1 will get me rice with Thai basil chicken, pretty tough to beat the cost of food here.

 

[Surewhitey]

I have visited as a tourist and then lived in Mexico for 3 years. Definitely better economics living somewhere as you find"how" to live. You don't have to learn the language if you don't want to. We did try, but not as much as I would want. COL was, for us, around $1,500-1,700 all in, including basic emergency coverage in the US. Probably half of this was for various insurance we kept in the states. Rent was around $400, including electric and internet. Food was very reasonable. We lived in the"middle class" foreigners /locals area. Comfortable but not posh. Our side of town had fewer English speaking and forced us to learn more about the language.

We have friends who live full time in Costa Rica. They lived and owned property in both there and Mexico. Originally from Connecticut and then Colorado...

We now have many friends in n Mexico and would consider it again. I would consider any of the list, except maybe Malaysia. Too far for me and I just have no desire to even visit. Costa Rica is the highest COL in Central America and have a pretty decent health care system it seems. I would expect Spain and Portugal to be similar.

 

[brett]

We have spent four winters in Thailand. Usually use it as a base for 2-3 month winter trips to SE Asia.

We love Thailand, especially the south. The food is wonderful, the people are incredibly friendly.

We would not consider it for retirement. Too hot during part of the year. Some of the areas that we like in Thailand are too far from urgent medical care if it was ever required.

The cost of living is lower however this is not the main driver for our trips. Last winter, an evening meal at a wonderful, local Thai open air restaurant would set us back no more than $10. Two entrees, water, and beer. We eat better and healthier in Thailand. Less red meat, no bread, butter, lots fresh fruit and veg. The only downside is the flight-which is why we go for several months at a time.

 

[Freedom56]

I agree that in Thailand the food is wonderful and the people are nice. Dining out or pub crawling is inexpensive. They certainly don't have an obesity epidemic over there. Ten bucks gets you a nice foot massage at a respectable place. You can rent a decent apartment in Bangkok for $500 per month or buy a condo for about $40K. The Thai women that we worked with in the office , were extremely professional and fun to work with.

But let me give you the perspective of my Swiss/American wife that was with me or one of my trips. We spent three weeks in Thailand together. I was working during the week. She was roaming around Bangkok on her own during the day. Sometimes she had a private guide and driver. She liked the local Thai people. She thought they were very polite and very hard working. She loved the food. She loved the shopping. We attended a lot of social events with the senior executives in the Thai company I was working with. We also went out with the Thai office people a few times a week and they took us to some nice places during the weekend. It wasn't a typical site seeing trip.

She did not have a very positive view of the expats that live there. She thought Thailand was a magnet for pedophiles from all over the world. She felt disgusted to see 50-70 year old men from France, Germany, Switzerland, U.S., and other countries with 18 to 20 year old women or even younger. Not all Expats were doing that, but from my observation, I saw a lot of fat guys with comb overs with some pretty nice girls. I just rolled my eyes but my wife thought that this was abnormal. I told her that money must fog their vision, or they pretend it's Tom Cruise they are on top of.

For now and the we are content with visiting the second largest Thai population city after Bangkok, East Hollywood.

 

[Scuba]

Although we have traveled extensively, we have never lived outside of the US are not likely to permanently relocate to another country. As much as I’ve enjoyed visiting other countries, I am always happy to return home to the US. If we had to relocate outside of the US, I’m sure we could be happy somewhere else, but we planned our retirement assuming we’d stay in Southern CA. Our COL is higher than Freedom56’s, but affordable for us. If we did relocate, we’d first consider a lower COL destination in the US. From the 30+ countries we’ve spent time in, I think the standard of living is higher in the US.

 

[flyingaway]

I have been to 7 out of the 10 countries. I would not retire to any one of them.

 

[flyingaway]

I agree that in Thailand the food is wonderful and the people are nice. Dining out or pub crawling is inexpensive. They certainly don't have an obesity epidemic over there. Ten bucks gets you a nice foot massage at a respectable place. You can rent a decent apartment in Bangkok for $500 per month or buy a condo for about $40K. The Thai women that we worked with in the office , were extremely professional and fun to work with.

But let me give you the perspective of my Swiss/American wife that was with me or one of my trips. We spent three weeks in Thailand together. I was working during the week. She was roaming around Bangkok on her own during the day. Sometimes she had a private guide and driver. She liked the local Thai people. She thought they were very polite and very hard working. She loved the food. She loved the shopping. We attended a lot of social events with the senior executives in the Thai company I was working with. We also went out with the Thai office people a few times a week and they took us to some nice places during the weekend. It wasn't a typical site seeing trip.

She did not have a very positive view of the expats that live there. She thought Thailand was a magnet for pedophiles from all over the world. She felt disgusted to see 50-70 year old men from France, Germany, Switzerland, U.S., and other countries with 18 to 20 year old women or even younger. Not all Expats were doing that, but from my observation, I saw a lot of fat guys with comb overs with some pretty nice girls. I just rolled my eyes but my wife thought that this was abnormal. I told her that money must fog their vision, or they pretend it's Tom Cruise they are on top of.

For now and the we are content with visiting the second largest Thai population city after Bangkok, East Hollywood.

Old guys can have younger women in the U.S. too, but they need to have much more money to do that. I don't see the difference in nature.

 

[Letj]

I agree that in Thailand the food is wonderful and the people are nice. Dining out or pub crawling is inexpensive. They certainly don't have an obesity epidemic over there. Ten bucks gets you a nice foot massage at a respectable place. You can rent a decent apartment in Bangkok for $500 per month or buy a condo for about $40K. The Thai women that we worked with in the office , were extremely professional and fun to work with.

But let me give you the perspective of my Swiss/American wife that was with me or one of my trips. We spent three weeks in Thailand together. I was working during the week. She was roaming around Bangkok on her own during the day. Sometimes she had a private guide and driver. She liked the local Thai people. She thought they were very polite and very hard working. She loved the food. She loved the shopping. We attended a lot of social events with the senior executives in the Thai company I was working with. We also went out with the Thai office people a few times a week and they took us to some nice places during the weekend. It wasn't a typical site seeing trip.

She did not have a very positive view of the expats that live there. She thought Thailand was a magnet for pedophiles from all over the world. She felt disgusted to see 50-70 year old men from France, Germany, Switzerland, U.S., and other countries with 18 to 20 year old women or even younger. Not all Expats were doing that, but from my observation, I saw a lot of fat guys with comb overs with some pretty nice girls. I just rolled my eyes but my wife thought that this was abnormal. I told her that money must fog their vision, or they pretend it's Tom Cruise they are on top of.

For now and the we are content with visiting the second largest Thai population city after Bangkok, East Hollywood.

I’ve travelled in many parts of the developing world. Poverty and the desire to leave the country for better opportunities drive these young girls to go with these men. A lot of young poor girls would sell themselves for a bit more material comfort. Even though these men may not have much, they have more than these girls can ever dream of. In most cases they are encouraged by their families, especially their fathers, to go with these foreign men to help their families. These girls are often also the victim of sexual abuse from a young age in a culture that sexualizes little girls. Most importantly, this is a culture in which poor women are not valued and the authorities turn a blind eyes to abuse and exploitation. It wouldn’t surprise me to know that many of these girls are younger than 18.

 

[brett]

From our experience it really depends on where you go in Thailand. We do not bother with Bangkok, Phuket, Pataya, or even Ko Samui. We tend to stick to Lanta and the small islands such as Ngai or Libong. Even in Lanta we are down island, not by the ferry dock.