Top 15+ Best Countries for Retirees—Affordable, Safe, and Full of Adventure

Panama Takes the Crown as Retirement Paradise

Picture yourself sipping coffee overlooking the azure Caribbean waters while paying half what you'd spend back home. Panama came in at number one for the "Best Places to Retire in 2025" on International Living's annual Global Retirement Index, and for good reason.

The country's many flight connections, pleasant climate, and low cost of living have certainly captured the attention of retirees. Rents are roughly 44 percent lower than in the U.S., and the overall cost of living is about 33 percent lower.

The famous Panama Pensionado visa program requires proof of pension income of at least $1,000 per month, making it accessible for most American retirees. Panama consistently ranks as the most tax-friendly retirement destination for Americans, offering complete exemption from taxes on foreign-sourced income, extensive retiree discounts, and use of the US dollar.

Portugal Combines European Charm with Surprising Affordability

Portugal has become one of the most popular destinations for retirees who adore its coastal cities, art, history, food, wine, and mild weather. The cost of living is about 30 percent lower than in the U.S., and housing is around 40 percent more affordable.

Safety is a major draw here. The nation of Portugal ranks sixth on the Global Peace Index, a fact that makes it one of the overall safest countries in the world.

The healthcare system is world-class, and couples pay around $550 a month total for private insurance, which includes coverage for up to 60 days of travel outside Portugal. For residency, D7 Visa applicants must provide proof of passive income—whether from rental properties back home, pensions, or other guaranteed retirement funds—of at least 870 euros (about $1,000) per month.

Malaysia Offers Exotic Adventures at Rock-Bottom Prices

When retirement dreams meet tropical reality, Malaysia delivers beyond expectations. Retiring in Malaysia might be an unconventional choice, but with an extremely low cost of living, excellent healthcare, and a tropical climate, retirees are flocking to Malaysia for their retirement.

Malaysia is considered one of the safest countries to retire in 2025 and one of the most affordable to live in! At less than $700 per month (including rent), retirees can enjoy every sweet luxury that Malaysia has to offer at a fraction of the cost that they're used to in the United States or Europe.

The country offers incredible diversity, from bustling Kuala Lumpur to historic George Town. Malaysia also promotes a vibrant and active lifestyle, with a variety of outdoor opportunities right at your fingertips.

Beaches, jungles, mountains, and islands lend themselves to hiking, swimming, canoeing, trekking, rafting, and more for retirees who wish to remain active in their golden years.

Costa Rica Embodies the Pure Life Philosophy

They call it "Pura Vida," and once you experience Costa Rica, you'll understand why. For those who embrace its relaxed lifestyle, Costa Rica offers unparalleled natural beauty, friendly locals, and a strong sense of community.

With its biodiversity, stunning landscapes, and warm climate, Costa Rica is a haven for those seeking a slower, healthier pace of life. According to the U.S.

Department of State, about 70,000 U.S. expatriates live in Costa Rica, many of them as retirees, mainly because Costa Rica has one of the highest living standards in Central America.

Living costs are flexible—some couples live comfortably on $2,500 a month, while others spend double or triple that amount. The retirement visa requires proof of income of $1,000 per month from a lifetime pension, Social Security, annuities, retirement funds, military pensions or other guaranteed retirement benefits.

Thailand Brings Tropical Paradise Within Reach

Thailand is known for its tropical climate, friendly locals, and affordable lifestyle, making it a top choice for retirees from the US. Bangkok offers a mix of modern conveniences and cultural richness, while Chiang Mai is a peaceful city in the mountains with a large expat community.

The islands, like Phuket and Koh Samui, attract beach lovers looking to enjoy a relaxed lifestyle with scenic ocean views and year-round sunshine. Safety is excellent—Thailand is a relatively safe country, with low violent crime rates.

Popular expat locations are particularly secure, although petty theft can occur in tourist areas. The U.S.

Department of State reports that many retirees live comfortably in Thailand for about $1,000 to $1,500 monthly. Thailand offers excellent healthcare facilities, with Bangkok and Chiang Mai hosting internationally accredited hospitals.

Mexico Combines Proximity with Cultural Richness

For Americans seeking adventure without straying too far from home, Mexico hits the sweet spot. Mexico is the fifth most attractive country for American retirees, scoring 97.19 points.

This is because it is also close to the U.S. and offers diverse climates, from hot summers in the north to milder temperatures in central areas.

Living costs vary dramatically by location, but bargains abound. Research from International Living suggests that basic medical services in Mexico can cost up to 60% less than those in the U.S.

This affordability can allow retirees to access necessary treatments without financial strain. The proximity means you can drive home for holidays or have family visit easily, making it ideal for those not ready to cut all ties with the United States.

Ecuador Delivers Mountain Charm and Coastal Beauty

Don't overlook this South American gem that uses the U.S. dollar as its currency.

Ecuador's diverse landscape creates a variety of lifestyle opportunities for expats, including everything from Miami-style Pacific beach cities to Spanish-colonial highland towns with strong indigenous influences. Life in Ecuador comes at a low cost for Americans, and it uses the U.S.

dollar as its currency. Ecuador attracts retirees with its low cost of living, scenic landscapes, and warm, welcoming culture.

Quito offers a mix of historical charm and urban amenities, while Cuenca is popular among retirees for its expat-friendly atmosphere and pleasant weather. Guayaquil is a bustling port city with easy access to coastal beaches.

Ecuador's jubilado visa requires a monthly income of at least three unified basic salaries, which is about $1,380.

Colombia Emerges as South Americas Hidden Gem

Once off-limits, Colombia has transformed into a retirement destination that combines affordability with sophistication. Colombia has made significant progress in terms of safety, particularly in expat-favored areas like Medellín.

The affordable cost of living and lower property prices make it a financially viable option for retirees. Colombia's healthcare system is considered one of the best in Latin America.

Private insurance is affordable, and expats can access high-quality medical care in larger cities. If you're looking for a beautiful, culturally vibrant country where every dollar stretches twice or even three times as far as back home, Colombia could be perfect for you.

Thanks to the strength of the U.S. dollar against the Colombian peso, even a modest retirement budget can afford you a high-quality lifestyle.

Spain Offers European Lifestyle at Surprising Value

When you think Europe, you might not think affordable—but Spain breaks that mold beautifully. Among respondents over age 45, Spain was again ranked the No. 5 best country for a comfortable retirement, with these survey respondents viewing the country as the most friendly nation.

The country offers diverse climates from Mediterranean beaches to mountain villages, plus world-class healthcare and rich cultural experiences. Seven years later, I marvel at the brilliant decision I made when I moved to Spain alone at age 70.

Today, I am living my best life in the vibrant European capital of Madrid, but I can jump on a fast train and be on sunny Mediterranean shores in two and a half hours. Housing costs vary greatly by region, but you can find excellent value outside major tourist centers.

Uruguay Provides South American Sophistication

Uruguay offers a mild climate and coastal areas like Punta del Este with cooling sea breezes. The healthcare system combines public and private options, with retirees often choosing the affordable "mutualistic" system, which costs $100 to $200 per month.

Considered South America's safest country, Uruguay has low crime rates, though petty crime occurs. The country offers a refined lifestyle with European influences, excellent beef, and world-class wines.

The average cost of living is around $1,200, with prices in Montevideo 79.6% lower than in New York City. American retirees can apply for the Pensionado Visa with a stable monthly income of $1,500 or more, health insurance, and a criminal background check.

Vietnam Combines Adventure with Unbeatable Value

For retirees seeking true cultural immersion, Vietnam offers experiences money can't buy elsewhere. The country's two major population zones are Hanoi, in the north, and Ho Chi Minh City, in the south.

Together, they are home to about 18% of Vietnam's total population of 100 million people. These are the places to go for an exciting lifestyle with a cosmopolitan buzz.

The food scene alone makes Vietnam worth considering—fresh, healthy, and incredibly affordable. For the best of beach living, Da Nang is a well-appointed coastal city with solid infrastructure.

For cooler weather and a quieter lifestyle, Da Lat is a resort town in the highlands influenced by the French. While Vietnam doesn't offer a specific retirement visa, long-term options exist for persistent retirees.

Philippines Welcomes Retirees with Tropical Paradise

With over 7,000 islands, the Philippines offers endless variety for adventurous retirees. Thousands of islands in the South China Sea comprise the tropical nation of the Philippines.

The land of beautiful beaches and abundant biodiversity has long been plagued by political instability, but its resilient economy continues to improve and push ahead of others in the region. English is widely spoken, making the transition easier for American retirees.

The climate is tropical year-round, healthcare is affordable, and the cost of living allows most retirement budgets to stretch much further. Island hopping becomes a weekend hobby rather than a once-in-a-lifetime vacation.

The Special Resident Retiree's Visa (SRRV) offers permanent residency for retirees over 50.

Germany Surprises with Quality and Affordability

Think Germany is expensive? Think again.

With a low level of corruption, a highly skilled labor force, and a high level of innovation (think about world-renowned vehicles like Volkswagen, Porsche, and Mercedes-Benz, among others), Germany is one amazing country for the golden agers to retire to. It has an Overall GPI Score of 1.53, which makes it one of the top 20 safest countries in the 2025 Global Peace Index, with less than $2,000 a month cost of living.

Germany also has a comprehensive and high-quality healthcare system, which rivals internationally, and patients can seek any type of care they want. And, perhaps surprisingly, there are plenty of free things to do in Germany — something that retirees could always consider, especially those who have limited financial resources.

New Zealand Combines Safety with Natural Wonders

New Zealand moved up to the No. 2 spot on this list in 2024, with older survey respondents viewing the country as the No. 1 place they would live and as family-friendly. New Zealand also ranked among the top five nations among these respondents for being friendly, happy and scenic, and for having many geographic attractions.

The landscapes are breathtaking—from fjords to glaciers to beaches that rival any tropical paradise. English is the primary language, the healthcare system is excellent, and the country consistently ranks among the world's safest.

Those considering the island nation for retirement will want to make sure their nest egg is in good shape to meet the financial requirements for temporary retirement or parent retirement visas. Adventure activities abound for active retirees, from hiking to bungee jumping to wine tours.

Northern Cyprus Delivers Mediterranean Magic

Northern Cyprus is bathed in sunshine and enjoys hot, sunny weather year-round. It's known for its golden-sand beaches and traditional mountain villages.

It's rich in history and has a strong local culture that produces amazingly healthy, delicious and affordable cuisine. Northern Cyprus is also very safe, and although it's already home to many European expats, more North Americans are being drawn here.

Northern Cyprus offers the quintessential Mediterranean lifestyle for a fraction of the normal cost. Rent for a one- or two-bedroom apartment in a complex that has a pool can cost as little as $500 per month.

A meal can cost less than $10 and a fresh and aromatic coffee can cost as little as 50 cents. About $1,000 budget should afford the average person a comfortable, well-rounded lifestyle in Northern Cyprus.

The world has opened up like never before for today's retirees. Whether you're drawn to tropical beaches, mountain vistas, or historic European cities, there's a perfect retirement haven waiting that won't break your budget.

The key is matching your lifestyle preferences with the right combination of cost, safety, and adventure. Which destination made your heart skip a beat?

Get more from Travelbucketlist!

What do you think about this topic? Share your thoughts in the comments below — we would love to hear from you! Want more stories like this? Follow us and never miss out!