2020's Top 5 Best Places To Retire In The World

Tuesday 3rd November 2020

Let’s face it, we are all counting the days until we retire and can visit anywhere in the world, without a care in the world. But have you considered living abroad once you retire, as an overseas removal company we wanted to take a look at the top best places to retire in the world and we sure wouldn't be fussy about living in any of these places. 

1. Portugal 

First up, is the European country famous for its beaches and home to international footballer Cristiano Ronaldo, Portugal. 

Recently, Portugal has become an increasingly popular place to retire, most likely to do with the low cost of living that Portugal has traditionally been seen to have. However, this can depend on the areas that you live. The main cities in Portugal typically have a higher cost of living in comparison to the rural areas of the country. Although substantially lower than other western European countries, is the cost of food and drink.

If you’re looking at retiring to the top best place to retire in the world from the UK, you can be sure to benefit from the 32% lower cost of living and 51% lower cost of rent that Portugal offers.

2. Panama 

One of the safest countries in Latin America and the 2nd best place to retire in the UK is… Panama. 

Panama offers a great retirement program, which provides easy residency to expats that are looking to retire in the country. This is known as “Pensionado”. With discounts offered to pension holders on utility services, medical expenses and entertainment, you can see why retiring to Panama is popular with expats. To benefit from this visa scheme, as an individual you’ll need to be receiving a minimum of $1000 per month, and $1250 as a couple. 

Thanks to the steady income and well paid jobs that The Panama Canal offers, along with Panama being the 2nd largest free trade zone in the world, this creates a significantly stable economy. This stability is not only a great benefit to Panamanians but also those who decide to retire to this wonderful country. 

3. Costa Rica 

If you’re currently living in America and are looking at retiring to another country, Costa Rica is a great option to consider out of the top 5 best places to retire in the world. As a result of the proximity to the US, this makes Costa Rica a perfect location to move to but be close enough to visit those family and friends that you’ve left in your home country. 

Costa Rica has a hugely established community of expats and is no stranger to being an international destination for retirees to move to.

One point that really stands out as a reason to retire in Costa Rica, is the low cost of healthcare that it provides. With citizens able to receive free healthcare and residents having only needing to pay a small cost to join the national healthcare program, you can be sure that you won't have to worry about healthcare when it comes to moving to this North America country. 

4. Mexico 

Are you looking to enjoy and savour an active lifestyle as a retiree? Mexico is the place to be, which is probably why the country is regularly found in the top best places to retire in the world. 

Mexico tends to be a very popular place for Americans and Canadians to travel to in comparison to the amount of Europeans travelling to the country. 

With favourable climates all year round, why would you want to stay and retire in a country where you have to wait for the warm times of the year? When you could be in sunny Mexico enjoying the warm weather throughout the entire year. The country is considered to be the perfect location for low- stress living as a result of the friendly people that live here, welcoming culture that they provide and of course the beautiful weather.

The cost of living in Mexico is a great opportunity to move to the country, as although dependent on your lifestyle can be a relatively reasonable place to live if you're happy to live on a fairly moderate income.

5. Columbia 

Surrounded by the Pacific Ocean and the Caribbean Sea, with 3 ranges of Andes mountains running through the country and home to 10% of the Amazon rainforest on its borders, do we really need to explain why Columbia is amongst the top best places to retire in the World?

Well… as Columbia is the 2nd most bio diverse country in the world, the country can offer anything from warm tropical locations to spring like cities and even to cold mountain locations. So whatever climate and lifestyle you’d like to choose to retire to Columbia has everything to choose from that you can ever imagine. 

Like Panama, retiring to Columbia you can also benefit from the ‘pensionado’ visa, but only have to prove a minimum monthly income of $700 from social security, rather than $1000 that Panama requests. 

So, this list could go on looking at 2020’s top best places to retire in the world, but we don’t want to bore you. However, if you’d like to check out what other countries have been listed as the best places to retire to, check out this great post by Business Insider

If you’re looking at retiring abroad currently and are looking for some information on overseas removals, be sure to get in touch with Hackworthy & Sons today by contacting us here.