Retirement is a significant milestone in one’s life, and for many, the location where they spend their golden years is just as important as the lifestyle they lead. The US offers retirees a wide range of options when choosing a place to retire. There is something for everyone, from warm coastal cities to scenic mountain towns. Whether you’re looking for an active lifestyle or a quiet place to relax, the US and many international locations have a variety of retirement destinations that cater to different preferences and budgets for 2023.
Using Numbeo’s cost of living data, NetCredit broke down how far an American savings account, in USD, would take you around the world regarding retirement – learn more here. Their analysis factored in an average retirement age of 61 and life expectancy of 76.15 years to calculate what retiring comfortably meant. Key takeaways:
- The cost of retirement is lowest in most Asian and African countries – like Pakistan, Egypt, and Algeria – where living a comfortable, retired life would require at least $225,000.
- Singapore is the only country where it would cost you upwards of a million dollars to retire, whereas, in the United States, that number is around $700,000.
- Among US states, the most expensive retirement destination, Hawaii, would require you to cough up nearly $900,000. The cost of retirement in 39 out of 50 states, however, was lower than the desired $700,000 mark.
US retirement locations.
See below the cost of retirement in US states (click the image to enlarge).
To identify the best places to retire, US News analyzed data for the 150 largest metropolitan areas in the US to assess how well they meet Americans’ retirement needs and expectations. The 10 best small towns to retire in the US – see the list here.
See in the video below the top 10 best cities to live in the US for 2023.
Don’t like big cities? See in the video below the top 10 best small towns in America to live in for 2023.
International retirement locations.
Retiring abroad is a dream for many individuals looking to spend their retirement years in a new and exciting environment. The idea of exploring new cultures, experiencing different lifestyles, and enjoying a warmer climate can be alluring. Retiring internationally can offer several advantages, such as a lower cost of living, access to quality healthcare, and opportunities to immerse oneself in new cultures.
However, it can also be a challenging decision to make, requiring careful planning and research. This guide will explore some of the best countries to retire in, considering factors such as cost of living, healthcare quality, climate, and lifestyle. By the end of this guide, you will have a better understanding of the options available to you and be better equipped to make an informed decision about where to retire internationally.
See below the cost of retirement in international locations (click the image to enlarge) – learn more here.
When looking at factors such as cost of living, climate, healthcare quality, and activities available in each location, here are the top 10 places to consider for retirement internationally in 2023. See below a video presentation of these top 10 places – learn more here and see the list.
Did you see any places in this guide you would consider retiring to? Are there any places you would like to add to this guide? Please give us your take in the comment section below.
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Author: Tom Williams
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