The Top 10 Best Countries to Retire Abroad for Americans in 2023
Are you dreaming of a relaxing retirement in a foreign paradise? Look no further! We’ve compiled a list of the top 10 best countries to retire abroad for Americans in 2023. From European gems to tropical havens, these destinations offer an ideal combination of affordability, quality healthcare, and vibrant culture, ensuring a fulfilling and enjoyable retirement. Get ready to explore new horizons and embark on the adventure of a lifetime!
Short Summary
- Portugal, Mexico, Panama, Costa Rica, and Spain offer retirees a high standard of living with quality healthcare services.
- Ecuador provides an affordable paradise for adventurous retirees, while Thailand offers a unique blend of modern city life and laid-back island vibes.
- Colombia and France are renowned for their cultures and arts. Uruguay is well-known for being a safe and stable option with low taxes.
Portugal: A European Paradise

Imagine strolling along golden beaches, sipping fine wines, and immersing yourself in the rich history of a small European country. Portugal is all this and more, ranking among the best countries to retire in for Americans! With a relatively low cost of living compared to other Western European nations, a premium healthcare system ranked 12th by the World Health Organization, and a warm climate, Portugal is a dream retirement destination.
In addition to its affordable living expenses, Portugal’s legal residents enjoy tax-friendly schemes such as the Non-Habitual Residency Tax Regime. This, combined with a tranquil and stable lifestyle, makes Portugal an attractive alternative to retiring abroad in South America or Central America. Whether you’re looking to embrace the bustling city life in Lisbon or the serene coastal charm of the Algarve, Portugal has something for everyone.
Benefits of Retiring in Portugal
One of the greatest perks of retiring in Portugal is the high standard of living. The cost of living is approximately 45,94% lower than in the US, allowing you to enjoy a comfortable lifestyle without breaking the bank. Furthermore, Portugal is ranked 6th in the Global Peace Index, providing a sense of security and well-being for retirees.
The country’s public healthcare system is accessible to all residents and citizens, including expat retirees. Although wait times can be lengthy, the fees are heavily subsidized, ensuring quality care at an affordable cost. Add to this the warm and sunny Mediterranean climate, and Portugal becomes the perfect destination for those seeking a rich cultural experience and a high quality of life.
Retirement Visa Options
To retire in Portugal, Americans, as foreign residents, can choose between the Golden Visa Program or the D7 Visa Program. The Golden Visa program offers residency in return for an investment, while the D7 Visa program requires proof of sufficient income to sustain oneself during their stay in the country.
Applications for a residency visa to Portugal must be completed at a Portuguese Embassy or Consulate located in the United States. These locations offer guidance on the application process and can help provide the necessary documents. A resident's initial visa holder is allowed to enter Portugal for four months. During this period, they must apply for a residency permit from Immigration and Border Services (SEF). This permit is valid for one year. It can be renewed twice, granting a total of five years’ validity.
After this period, it is possible to apply for permanent residency in Portugal.
Mexico: A Vibrant Neighbor

Just south of the border lies a vibrant neighbor that has captured the hearts of many American retirees: Mexico. Ranked second among the top 10 countries to retire in for Americans, Mexico offers an enticing blend of a warm climate, a captivating natural landscape, and a low cost of living that is approximately half that in the US. With its rich culture and diverse landscape, Mexico provides a unique experience for those seeking a more adventurous retirement.
Safety is a crucial consideration for retirees, and in Mexico, it is essential to exercise caution and avoid areas with high crime rates. By staying vigilant and informed, retirees can confidently explore the beauty of Mexico, from the bustling cities to the tranquil beach towns, and immerse themselves in the local culture.
Expat Communities and Lifestyle
In Mexico, retirees can choose from a variety of lifestyles, ranging from the vibrant city life of Mexico City to the laid-back coastal charm of Puerto Vallarta. The country is home to a large expat community, with popular retirement destinations such as Los Cabos, Playa del Carmen, Lake Chapala, and San Miguel de Allende, where retirees can easily connect and socialize with fellow expats.
The cost of living in Mexico is generally reasonable, allowing retirees to maintain a comfortable lifestyle without compromising on quality or experience. The warm and sunny climate, coupled with Mexico’s diverse natural landscapes and national parks, offers endless opportunities for adventure and relaxation.
Residency and Healthcare
Obtaining residency in Mexico is a straightforward process, with applicants required to demonstrate a monthly pension income of at least $2,500 to be eligible for a retirement visa. The cost of living for US citizens retiring in Mexico varies depending on lifestyle choices, but an estimated monthly budget for one person is $480.17.
Mexico has a two-tier healthcare system, with both public and private options available to residents. Most retirees choose the private system for their post-work healthcare needs. It offers exceptional care and excellent facilities at an affordable price and can be covered by private insurance or a self-pay option.
By choosing Mexico as their retirement destination, American retirees can enjoy quality healthcare services and a fascinating cultural experience at an affordable cost.
Panama: Central American Gem

For those looking for a Central American gem, Panama is an ideal retirement destination. With its affordable living costs, quality healthcare, and ideal weather, Panama has become increasingly popular among American retirees. Its strategic location, connecting North and South America, offers the best of both worlds, with a diverse array of natural wonders and modern infrastructure.
Panama’s pensionado visa program is particularly attractive, as it requires a monthly pension income of only $1,000 and provides benefits such as discounts on services and a tax exemption on imported household goods. The country’s beautiful landscapes, from pristine beaches to lush rainforests, make it a perfect retirement destination for those seeking adventure and relaxation in equal measure.
Cost of Living and Housing
The cost of living in Panama is generally lower than in many other countries in the region, including the US, Canada, and western Europe. Depending on where you live, your lifestyle, and your preferences, a mid-range lifestyle could cost anywhere between $1,000 and $3,667 per month.
Panama offers a variety of housing options, from luxury apartments and villas to more affordable condos and townhouses. Rental options such as furnished apartments and houses are also available, catering to a range of budgets and preferences.
With its diverse housing options and attractive cost of living, Panama ensures a comfortable and enjoyable retirement experience for American expats.
Healthcare and Safety
When it comes to healthcare, Panama boasts a two-tier system consisting of public and private hospitals, clinics, and doctors. Both systems require co-payments for services, with the public system offering lower costs. Most retirees choose the private system for their post-work healthcare needs. It offers exceptional care and excellent facilities at an affordable price and can be covered by private insurance or a self-pay option.
Ranked as the safest country in Central America, Panama allows retirees to enjoy a sense of security and well-being. With its high-quality healthcare services and safe environment, Panama is an ideal retirement destination for those seeking a Central American haven.
Costa Rica: Pura Vida Living

Costa Rica, known for its “Pura Vida” mentality, offers a simple and enjoyable lifestyle for retirees. With a score of 79.28 out of 100 as a retirement destination for Americans, Costa Rica boasts a warm tropical climate, beautiful natural landscapes, and a strong sense of community among expats.
The country’s national parks and protected areas make it one of the most ecologically diverse places in the world, providing retirees with endless opportunities for adventure and relaxation. The low cost of living and access to quality healthcare services further enhance Costa Rica’s appeal as a retirement haven.
Visa Programs and Residency
Costa Rica offers various visa programs for retirees, including pensionado and rentista options. The pensionado program requires a monthly pension income of at least $1,000 and provides benefits such as discounts on services and a tax exemption on imported household goods. The rentista visa program caters to those without a fixed monthly pension, requiring a minimum income of $2,500 per month for at least two years.
By obtaining one of these visas, retirees can enjoy the benefits of living in Costa Rica, including access to the national medical program and private healthcare services. With a range of visa options and an easy residency process, Costa Rica is an attractive destination for American retirees looking to settle in a tropical paradise.
Healthcare System
Costa Rica’s healthcare system is considered to be among the best in Latin America. The country has a universal healthcare system that is accessible to all citizens and legal residents, including expat retirees. Co-payments for services are generally low, with a visit to a family physician or the ER costing between $6 and $22.
In addition to the public healthcare system, many expats opt for private insurance to cover medical expenses and access private healthcare facilities. With its strong healthcare system and affordable living costs, Costa Rica is an ideal destination for American retirees seeking a high quality of life in a tropical setting.
Spain: A Mediterranean Dream

For those seeking a Mediterranean dream, Spain offers a relaxed lifestyle, a low cost of living, and excellent healthcare services, making it a popular retirement destination for Americans. The country’s rich culture, art, and cuisine, combined with a warm climate, provide an ideal setting for an enjoyable retirement experience.
From the bustling city life in Madrid to the serene coastal towns along the Costa del Sol, Spain offers a diverse range of lifestyles to suit every preference. With its modern infrastructure, beautiful beaches, and world-class healthcare system, Spain is a dream retirement destination for many American expats.
Lifestyle and Culture
Spain’s rich culture is a vibrant mix of influences, from its Moorish heritage to its world-renowned cuisine and wine. The country places great importance on enjoying life, with a focus on leisurely meals, socializing, and spending time outdoors. This lifestyle, combined with Spain’s modern infrastructure and beautiful natural landscapes, provides an ideal setting for retirees seeking a rewarding and enjoyable experience.
In addition to its rich cultural and lifestyle offerings, Spain boasts a lower cost of living than the US. Regardless of whether you choose to settle in a bustling city like Barcelona or a tranquil coastal town like Malaga, Spain offers a range of lifestyles and housing options to suit every preference and budget.
Retirement Visas and Healthcare
Americans looking to retire in Spain can obtain residency through the Golden Visa Program or the non-lucrative visa. The Golden Visa Program requires an investment, while the non-lucrative visa requires proof of sufficient funds to sustain oneself during their stay in the country. By meeting these requirements, retirees can enjoy the benefits of living in Spain and access the country’s top-ranked healthcare services.
Spain’s healthcare system is highly regarded, offering public healthcare for citizens and residents who contribute to social security. The majority of expats choose private healthcare, which offers access to contemporary facilities and highly qualified staff and is either covered by health insurance or paid for out of pocket.
With its excellent healthcare services and diverse range of lifestyles, Spain is an ideal retirement destination for American expats.
Ecuador: Affordable Andean Paradise

Nestled in the Andes, Ecuador is an affordable retirement paradise for Americans seeking a diverse climate, rich biodiversity, and senior discounts on various services. With its low cost of living, stunning natural landscapes, and friendly locals, Ecuador is an emerging retirement destination that offers a unique experience for adventurous retirees.
From the bustling city life in Quito to the serene coastal towns along the Pacific Coast, Ecuador offers a range of lifestyles to suit every preference. With its modern infrastructure, beautiful natural landscapes, and welcoming culture, Ecuador is a hidden gem in the retirement world.
Climate and Biodiversity
Ecuador’s diverse climate offers something for everyone, from the cool mountain valleys of the Andes to the warm, tropical lowlands of the Pacific coast. With a temperature range between 45°F and 70°F throughout the year, retirees can choose their ideal climate for a comfortable and enjoyable retirement experience.
In addition to its diverse climate, Ecuador is one of the most ecologically diverse countries in the world, boasting a wealth of flora and fauna within its national parks and protected areas. From the Amazon rainforest to the Galapagos Islands, Ecuador’s natural beauty provides endless opportunities for exploration and adventure for retirees seeking an unforgettable experience.
Residency and Safety
To obtain residency in Ecuador, retirees must demonstrate a monthly income of at least $800 and a clean criminal record. With its straightforward residency process and affordable living costs, Ecuador is an attractive destination for American retirees seeking a South American paradise.
When it comes to healthcare, Ecuador offers a wide range of options, including more than 1,000 public hospitals, 300 private hospitals, and 25,000 private clinics. Private healthcare in Ecuador is known for its excellent services, sophisticated facilities, and highly qualified staff, providing peace of mind for retirees seeking quality healthcare in their retirement destination.
Thailand: A Southeast Asian Haven

Thailand, a Southeast Asian haven, is a popular retirement destination for Americans due to its warm climate, low cost of living, and welcoming culture. With its diverse landscape, from bustling cities like Bangkok to serene islands in the south, Thailand offers a unique retirement experience for those seeking adventure and relaxation.
In addition to its natural beauty and vibrant culture, Thailand boasts a low cost of living, making it an attractive option for American retirees. With a range of lifestyles and housing options to choose from, Thailand provides an ideal setting for a fulfilling and enjoyable retirement experience.
Lifestyle and Culture
Thailand’s diverse lifestyle options cater to a wide range of preferences, from the modern city life of Bangkok to the laid-back island vibes of Phuket and Koh Samui. With a large expat community, retirees can easily connect with fellow expats and immerse themselves in the local culture.
The cost of living in Thailand is significantly lower than in the US, allowing retirees to enjoy a comfortable lifestyle without compromising on quality or experience. The warm and sunny climate, coupled with Thailand’s diverse natural landscapes, offers endless opportunities for adventure and relaxation.
Retirement Visa and Healthcare
To retire in Thailand, applicants must meet the requirements for a retirement visa, including being over 50 years of age and possessing 800,000 baht (approximately $23,100) in savings. With its straightforward visa process and affordable living costs, Thailand is an attractive destination for foreign retirees looking to retire abroad, especially American retirees seeking a Southeast Asian paradise.
When it comes to healthcare, Thailand offers a wide range of options, including public and private facilities. Most retirees opt for private healthcare, which can be covered by insurance or self-pay and provides access to modern facilities and highly qualified staff. With its excellent healthcare services and diverse range of lifestyles, Thailand is an ideal retirement destination for American expats.
Colombia: A South American Surprise

Colombia, a South American surprise, is emerging as a popular retirement destination for Americans seeking affordable living costs, diverse housing options, and a modern healthcare system. With its warm climate, friendly locals, and range of lifestyles to choose from, Colombia provides an exciting and unique retirement experience.
From the bustling city life in Bogotá to the tranquil coastal towns along the Caribbean coast, Colombia offers a diverse range of lifestyles to suit every preference. With its modern infrastructure, beautiful natural landscapes, and welcoming culture, Colombia is an attractive retirement destination for American expats seeking a South American adventure.
Housing and Lifestyle
Colombia offers a wide range of housing options, with something to suit all budgets. From luxury apartments in the bustling cities of Bogotá and Medellin to more affordable condos and townhouses in the tranquil coastal towns of Cartagena and Santa Marta, Colombia provides a diverse selection of living options for retirees.
In addition to its diverse housing options, Colombia boasts a lower cost of living than the US. With its vibrant culture, modern infrastructure, and beautiful natural landscapes, Colombia provides an ideal setting for a fulfilling and enjoyable retirement experience.
Pensionado Visa and Healthcare
Applicants wishing to obtain a pensionado visa in Colombia must demonstrate evidence of a monthly income. The minimum salary should be at least three times the minimum wage established in Colombia. With its straightforward visa process and affordable living costs, Colombia is an attractive destination for American retirees seeking a South American paradise.
When it comes to healthcare, Colombia boasts a highly regarded healthcare system, ranking among the top 25 in the world. With a range of public and private healthcare options, retirees in Colombia can enjoy access to quality healthcare services at a reasonable cost.
With its excellent healthcare services and diverse range of lifestyles, Colombia is an ideal retirement destination for American expats.
France: The Art of Living

France, the epitome of the art of living, is a popular retirement destination for Americans due to its rich culture, art, and cuisine, as well as its high-quality healthcare system. With its diverse landscape, from bustling cities like Paris to serene coastal towns along the Mediterranean, France offers an unmatched retirement experience for those seeking a taste of European elegance.
In addition to its rich culture and lifestyle offerings, France boasts a lower cost of living than the US. Whether you choose to settle in a bustling city like Paris or a tranquil coastal town like Nice, France offers a range of lifestyles and housing options to suit every preference and budget.
Cost of Living and Healthcare
France offers a range of lifestyles, from bustling cities like Paris to picturesque countryside towns in Provence, all with a lower cost of living than the US. With its diverse housing options and attractive cost of living, France ensures a comfortable and enjoyable retirement experience for American expats.
When it comes to healthcare, France’s universal healthcare system is accessible to all citizens and legal residents, including expat retirees. Co-payments for services are generally low, with a visit to a family physician or the ER costing between $6 and $22.
With its strong healthcare system and affordable living costs, France is an ideal destination for American retirees seeking a high quality of life in a European setting.
Residency and Lifestyle
Americans who wish to retire in France must submit an application for a long-term French visa (visa long de séjour). This application should also include a request for a residence permit. By meeting these requirements, retirees can enjoy the benefits of living in France and access the country’s top-ranked healthcare services.
From the bustling city life in Paris to the serene coastal towns along the French Riviera, France offers a diverse range of lifestyles to suit every preference. With its modern infrastructure, beautiful beaches, and world-class healthcare system, France is a dream retirement destination for many American expats.
Uruguay: A Safe and Stable Option

Uruguay, a safe and stable option in South America, is an attractive retirement destination for Americans seeking a warm climate, low taxes, and affordable living costs. With its friendly locals and diverse landscape, from bustling cities like Montevideo to tranquil coastal towns along the Atlantic, Uruguay offers a unique retirement experience for those seeking a South American escape.
In addition to its natural beauty and vibrant culture, Uruguay boasts a low cost of living, making it an attractive option for American retirees. With a range of lifestyles and housing options to choose from, Uruguay provides an ideal setting for a fulfilling and enjoyable retirement experience.
Summary
In conclusion, these top 10 best countries to retire abroad for Americans in 2023 offer a diverse range of lifestyles, climates, and healthcare options to suit every preference and budget. From the European charm of Portugal and Spain to the tropical paradises of Costa Rica and Thailand, each destination provides its own unique blend of culture, affordability, and quality of life. So pack your bags, embrace the adventure, and find the perfect retirement haven that suits your dreams and desires!
Frequently Asked Questions
What is the easiest foreign country to retire to from the USA?
Mexico is an ideal choice for retirees from the US; with its warm climate, diverse culture, and affordable cost of living, it’s easy to make the move with a range of retirement visas available.
Retirees can enjoy the warm climate year-round, explore the vibrant culture, and take advantage of the low cost of living. With a range of retirement visas available, it’s easy to make the move to Mexico.
Retirees can find a variety of activities.
What is the world's #1 retirement destination?
Norway, Switzerland, and Iceland are the world’s top retirement destinations, offering longer life expectancies and greater security than most other countries.
These countries have a variety of benefits that make them attractive to retirees, such as low taxes, excellent healthcare, and a high quality of life.
Retirees can also enjoy the natural beauty of these countries.
What countries do not tax US Social Security?
Social Security benefits are not taxed by the US in Canada, Germany, Egypt, Ireland, Israel, Italy (for Italian citizens), Romania, and the UK.
What factors should I consider when choosing a retirement destination?
When selecting a retirement destination, take into account aspects such as cost of living, available healthcare, climate, and the local culture to find the best fit for you.
Consider the cost of living in the area. Are there affordable housing options? Are there amenities such as grocery stores and restaurants that are within your budget?
Look into the healthcare options in the area. Are there hospitals and doctors that are easily accessible? Are there hospitals and doctors that are easily accessible?
How do I obtain residency in my chosen retirement destination?
To obtain residency in your chosen retirement destination, you will need to apply for a retirement visa and meet the financial or income criteria of the country.
In order to do this, you will need to provide evidence of your financial situation, such as bank statements, proof of income, and other documents. You may also need to provide proof of health insurance and other documents that demonstrate your health.