The Expat Retirement Plan
An increasing number of Americans are approaching retirement without nearly enough money saved and face either working during their golden years or living a bare-bones lifestyle. For many, the pandemic has eaten into savings and made retirement an even more unlikely prospect. But that doesn't have to be the case. Retiring abroad can be a budget-friendly alternative, particularly for those seeking to get by primarily on Social Security.
“All over the world, safe, welcoming, warm-weather, good-value communities exist where retirees can watch their lifestyles expand while they spend less than it would likely cost to stay home,” says Jennifer Stevens, executive editor at the magazine International Living. “From Portugal to Panama — all sorts of choices present themselves. And these are spots where a retiree could live a genuinely comfortable life, even on a Social Security check alone.”
Here are the top 10 countries around the world to retire abroad as identified by International Living's Annual Global Retirement Index for 2022.
Related: No Pension. No 401k. How to Get by on Social Security