Retirement often symbolizes the start of something new — a time to slow down, explore new surroundings, and enjoy a more peaceful lifestyle. For many retirees, moving abroad offers the perfect opportunity to experience different cultures, enjoy better weather, and stretch their savings further than they could at home.
Here’s a list of 15 affordable and retirement-friendly countries. This guide takes into account cost of living, visa requirements, healthcare systems, and safety — all the essentials to help you plan your next chapter abroad.
1. Mexico
Over two million Americans and more than 100,000 Europeans have already made Mexico their home. From lively cities to peaceful beach towns, Mexico offers low living costs, vibrant communities, and a blend of old-world charm with modern amenities.
To retire here, you’ll need a permanent resident visa. That requires a monthly income of roughly $2,200 over the past six months or savings around $85,000. Mexico’s close proximity to the U.S. makes it both convenient and affordable.
2. South Africa
With stunning scenery, diverse culture, and a warm climate, South Africa attracts adventurous retirees. However, healthcare costs and safety concerns are worth considering.
A retirement visa requires a monthly income of at least $2,080. For those seeking cultural immersion and outdoor adventure, South Africa has a lot to offer.
3. The Philippines
Known for its tropical islands and friendly locals, the Philippines is growing in popularity among foreign retirees.
The Special Resident Retiree’s Visa requires a monthly income of about $1,800 and a $50,000 deposit in a local bank. Pensions and foreign income are tax-exempt, though some areas still face development challenges.
4. Indonesia
Home to idyllic places like Bali and Lombok, Indonesia offers lush landscapes, a warm climate, and a welcoming culture.
To qualify for a retirement visa, you must be at least 55 years old and have a monthly income of around $1,700. With affordable living and a rich cultural experience, Indonesia continues to be a top choice.
5. Chile
Chile is one of the most stable and safest countries in South America. Retirees are drawn to its temperate climate, scenic wine country, and reliable infrastructure.
With minimal visa requirements, you can obtain a temporary residence visa by showing proof of steady income. Many retirees live well on less than $1,500 a month.
6. Mauritius
Located in the Indian Ocean, Mauritius combines natural beauty with a laid-back lifestyle. If you’re 45 or older and can show income between $1,500 and $2,000 a month — or have strong savings — you may qualify for a 10-year residence permit.
The island offers favorable tax policies and opportunities to invest in local real estate.
7. Sri Lanka
Nicknamed the “pearl of the Indian Ocean,” Sri Lanka is affordable and full of charm, though infrastructure and healthcare limitations exist.
You can live comfortably on a budget of around $800 per month, but you’ll need to adjust to local transportation and medical facilities.
8. Portugal
Portugal continues to top lists for European retirement destinations thanks to its beautiful coastline, mild climate, and welcoming communities.
The D7 visa allows retirees to live in Portugal by showing passive income or investments. Cities like Lisbon and the Algarve offer both charm and affordability.
9. Spain
Spain offers a vibrant culture, excellent healthcare, and scenic coastlines. Costs vary by region, but many areas are budget-friendly for retirees.
A non-lucrative visa is available for those who can demonstrate sufficient funds without working. Spain’s relaxed lifestyle remains a major draw.
10. Ecuador
Ecuador’s low cost of living, especially in cities like Cuenca, makes it a top retirement spot in South America.
A monthly income of just $800 is enough to qualify for residency. The healthcare system is improving, and the natural scenery is unbeatable.
11. Thailand
From bustling cities to serene islands, Thailand offers something for every retiree — along with a low cost of living.
The Thailand Elite Visa grants long-term residency with a one-time fee, though other visa options exist. Retirees find their dollars go much further here.
12. Costa Rica
Costa Rica is known for its lush rainforests, eco-friendly values, and high quality of life.
The pensionado visa is available to those receiving at least $1,000 per month in retirement income. Affordable healthcare and friendly locals make it a stress-free choice.
13. Uruguay
Uruguay ranks high for safety, stability, and overall quality of life. Small towns and coastal cities are especially popular with retirees.
The residencia definitiva visa requires about $1,500 in monthly income. Uruguay’s slow pace and friendly communities appeal to many seeking simplicity.
14. Greece
Greece draws retirees with its stunning islands, ancient cities, and relaxed Mediterranean lifestyle.
Through the Golden Visa program, you can gain residency by purchasing real estate. It’s a cost-effective European option with quality healthcare and great food.
15. Belize
Belize offers Caribbean beauty with the benefit of English as the official language. It’s a laid-back and scenic place to retire.
The Qualified Retired Persons (QRP) program requires $2,000 per month in income. Belize also offers tax breaks and beachside tranquility.
Conclusion
Choosing the right place to retire involves more than just affordable living — healthcare, safety, and overall lifestyle matter just as much. The countries listed here strike a balance between cost and quality, giving retirees exciting new paths to explore in their golden years.
Before making the leap, research each destination’s pros and cons to find the perfect fit for your retirement goals.
