Retiring abroad on Social Security alone is an increasingly popular option for Americans seeking a lower cost of living, better quality of life, and new cultural experiences. Many countries offer affordable living, safety, pleasant climates, and engaging activities that make them ideal destinations for retirees. Below are ten countries that stand out as excellent choices for retirees relying primarily on Social Security income. Global Citizen Solutions, LinkedIn).
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Scroll to the bottom of the article to see country number ten.
1. Portugal.
Why it’s a top choice: Portugal consistently ranks high for retirees due to its affordable living, high safety standards, and welcoming culture. The country offers a mild climate, beautiful coastlines, and a relaxed lifestyle.(Savvy Nomad)
Cost of living: According to Numbeo, the average rent for a one-bedroom apartment in the city center is approximately $1,000, while outside the city center it’s around $700.(FinanceBuzz)
Safety: Portugal ranks 7th on the Global Peace Index, indicating a very safe environment for residents.(Travel + Leisure)
Weather: The country experiences a Mediterranean climate, characterized by warm summers and mild winters, particularly in regions such as the Algarve. (Savvy Nomad)
Activities for retirees: Retirees can enjoy beach outings, visit historical sites, take wine tasting tours, and attend vibrant local festivals.
Sources: Numbeo, Global Peace Index, International Living(International Living).
2. Costa Rica.
Why it’s a top choice: Known for its “Pura Vida” lifestyle, Costa Rica offers a peaceful environment, rich biodiversity, and a welcoming community for retirees.(Bright!Tax Expat Tax Services)
Cost of living: In cities like San José, a one-bedroom apartment in the city center averages around $662, while outside the center it’s about $466.(Bright!Tax Expat Tax Services)
Safety: Costa Rica ranks 38th on the Global Peace Index, reflecting a stable and safe environment.(Travel + Leisure)
Weather: The country has a tropical climate with a dry season from December to April and a rainy season from May to November.
Activities for retirees include exploring national parks, bird-watching, beach activities, and participating in local community events.(Acts Retirement-Life Communities)
Sources: Numbeo, Global Peace Index, International Living(International Living).
3. Mexico.
Why it’s a top choice: Mexico offers diverse climates, rich culture, and proximity to the U.S., making it a convenient and affordable retirement destination.
Cost of living: In cities like San Miguel de Allende, a couple can live comfortably on less than $2,000 a month, including rent and other expenses.(U.S. News Money)
Safety: Safety varies by region; many expats find cities like Mérida and San Miguel de Allende to be safe and welcoming.
Weather: Mexico’s climate ranges from tropical beaches to temperate highlands, offering options for various preferences.
Activities for retirees: Retirees can enjoy cultural festivals, art classes, culinary experiences, and exploring historical sites.
Sources: U.S. News, International Living(U.S. News Money).
4. Panama
Why it’s a top choice: Panama offers a retiree-friendly visa program, modern infrastructure, and a favorable climate.(New York Post)
Cost of living: In Panama City, the average rent for a one-bedroom apartment in the city center is about $1,123, while outside the center it’s approximately $491.(FinanceBuzz)
Safety: Panama is considered one of the safer countries in Central America, with a stable government and economy.
Weather: The country has a tropical climate with a wet season from May to November and a dry season from December to April.
Activities for retirees: Options include exploring the Panama Canal, visiting coffee plantations, and enjoying beach resorts.
Sources: FinanceBuzz, International Living(FinanceBuzz)
5. Malaysia
Why it’s a top choice: Malaysia is known for its low cost of living, excellent healthcare, and diverse culture.
Cost of living: In cities like Penang, a couple can live comfortably on less than $1,500 a month, including rent and other expenses.(U.S. News Money)
Safety: Malaysia ranks 10th on the Global Peace Index, indicating a high level of safety.(Travel + Leisure)
Weather: The country has a tropical climate with high humidity and temperatures ranging from 77°F to 95°F year-round.
Activities for retirees: Retirees can enjoy island hopping, exploring rainforests, and experiencing diverse culinary delights.
Sources: U.S. News, Global Peace Index, International Living.
6. Belize
Why it’s a top choice: Belize offers English as its official language, beautiful beaches, and a relaxed lifestyle.
Cost of living: In Belize City, the average rent for a one-bedroom apartment in the city center is approximately $357, while outside the center, it’s around $181.(FinanceBuzz) (We found these rental rates to be much lower than what you will find on sites like Airbnb)
Safety: While Belize has areas with higher crime rates, many expats find communities like Placencia and San Pedro to be safe and welcoming.
Weather: Belize has a tropical climate, characterized by a wet season from June to November and a dry season from February to May.
Activities for retirees: Options include snorkeling, diving, exploring Mayan ruins, and participating in local festivals.
Sources: FinanceBuzz, International Living(FinanceBuzz).
7. Ecuador
Why it’s a top choice: Ecuador offers diverse climates, affordable healthcare, and a low cost of living.
Cost of living: In cities like Cuenca, a couple can live comfortably on less than $1,500 a month, including rent and other expenses.(U.S. News Money).
Safety: Ecuador is generally safe, especially in expat-friendly cities, though it’s advisable to stay informed about local conditions.
Weather: The climate varies by region, with coastal areas being warm and humid, while highland areas like Cuenca have spring-like weather year-round.
Activities for retirees: Retirees can explore the Andes, visit the Galápagos Islands, and enjoy vibrant local markets.
Sources: International Living.
8. Vietnam
Why it’s a top choice: Vietnam offers a low cost of living, rich culture, and beautiful landscapes.
Cost of living: In cities like Da Nang, a couple can live comfortably on less than $1,200 a month, including rent and other expenses.
Safety: Vietnam ranks 41st on the Global Peace Index, indicating a relatively safe environment.(Travel + Leisure)
Weather: The climate varies from north to south, with the north experiencing four seasons and the south having a tropical climate.
Activities for retirees: Options include exploring ancient temples, enjoying street food, and visiting scenic landscapes like Ha Long Bay.
Sources: Global Peace Index, International Living.
9. Uruguay
Why it’s a top choice: Uruguay offers political stability, a high standard of living, and a mild climate.
Cost of living: In cities like Montevideo, a couple can live comfortably on around $2,000 a month, including rent and other expenses.
Safety: Uruguay ranks 52nd on the Global Peace Index, reflecting a safe environment for residents.
Weather: The country has a temperate climate with warm summers and cool winters.
Activities for retirees: Retirees can enjoy beach outings, wine tasting, and exploring colonial towns.
Sources: Global Peace.
10. Colombia
Colombia is not on the official list due to recent safety concerns. However, thousands of U.S. citizens live in this South American country. We encourage you to check with the U.S. State Department’s Travel Alerts before traveling to or moving to Colombia. You can definitely live comfortably on Social Security in Colombia.
To learn more about how to qualify to live in these countries, visit the blog’s article on Becoming a Resident
