The Best Foreign Retirement Havens

in Finance by Bill Hadala — July 5, 2010 at 5:09 pm | 0 comments

Google “where to retire abroad” and you get nearly 300,000 hits. Just about every country in the world, it seems, pops up on someone’s list, with a few obvious exceptions–Afghanistan, Iraq, Iran, North Korea and a good chunk of impoverished Africa.

We’re not about to sing the praises of the bistros of Baghdad. But it is absolutely true that value and a high quality of life can be found in a retirement abroad. The trick is to approach it with a proper mindset–think adventure–and a lot of careful research.

In Pictures: 12 Top Foreign Retirement Havens

To get you started, we have assembled our own list of a dozen countries worthy of your consideration as a foreign retirement haven. This roster was developed after scrutinizing a lot of information. But there’s no precise scientific method here or numerical ranking; there are too many variables and retirees have too many differing priorities. Is an easy trip home to see the grandkids essential? How important are low costs? An English speaking population? Cultural amenities? Your own family roots?

It may be that the best retirement haven for you isn’t even on this list. So for a guide to how to investigate a foreign locale yourself, click here.

For many retirees, the greatest lure of expatriation is that living costs, particularly for housing, are usually cheaper. Offsetting that is the lack of access to the subsidized U.S. Medicare system for senior citizens. But many foreign countries have health care systems that offer high quality with costs or insurance so reasonable it easily can be paid out of pocket. (For more on buying insurance and protecting your Medicare benefits if you retire abroad, click here.)

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