There are a lot of different approaches to retirement. While some Boomers are still working at 65 years old and would push it until they are 72, some millennials are hustling and working hard to amass a fortune that would enable them to retire early. Some opt for a simple life after work is done, others want it to be a glorious and luxurious third act.
Regardless of generation or outlook, retirement is one of the things we need to plan for. Retiring abroad has several alluring qualities that make it enticing for a lot of folks.
We have listed a few countries that are ideal for a comfortable retirement. Factors like affordability, tax environment, climate, healthcare system, and people were all considered in coming up with this short list.
Five Best Countries for Retirees
Rank 5: Luxembourg
- GDP: $69.5 billion
- GDP per Capita PPP: $106,372
- Population: 613,894
The small country of Luxembourg is landlocked by Belgium, France, and Germany. Despite its size, it is the second-wealthiest country in the world, next to Qatar. Expats rank the country as one of the best countries to retire to because of its favorable tax environment, easy access to capital, and income equality.
Rank 4: Spain
- GDP: $1.4 trillion
- GDP per Capita PPP: $40,172
- Population: 46.7 million
Most expats claim that it is easier to transition to retirement in Spain compared to other countries. It is highly connected to the rest of the world, is culturally accessible, and has the “golden visa” which makes it easier for non-residents to acquire residency permits.
Rank 3: Switzerland
- GDP: $705.5 billion
- GDP per Capita PPP: $65,010
- Population: 8.5 million
More than the Swiss Alps and chocolates, its major appeal to retirees is the favorable tax environment it offers. Also known as one of the wealthiest countries in the world, it has a strong and stable economy and is ranked high as one of the safest places to live in.
Rank 2: Australia
- GDP: $1.4 trillion
- GDP per Capita PPP: $52,379
- Population: 25.0 million
Consider buying that land for sale in Townsville region because Australia is one of the best countries to retire to. From great weather all year long to an amazing emphasis on work-life balance to breathtaking sceneries to warm and friendly people, expats are guaranteed to enjoy retirement in the Land Down Under.
Rank 1: New Zealand
- GDP: $205 billion
- GDP per Capita PPP: $40,096
- Population: 4.9 million
The small scenic island nation is, perhaps, the world’s best place for affluent expats to comfortably retire. If you intend to retire here, you have to ensure your nest eggs are healthy as the tiny country has strict financial requirements for those seeking both temporary and parent retirement visas.
No matter where you plan to retire, it is important that you weigh your options, study the pros and cons of each location, start saving up for it (assuming that you haven’t yet), and make the right investment decisions. Observing these will let you experience the retirement that you deserve.