Forbes recently published an article revealing their picks for the top 12 foreign retirement havens. The countries included in their list are Panama, Italy, Australia, Ireland, France, Spain, Canada, New Zealand, Uruguay, Malta, South Africa, and Ecuador.
The most common reason for retiring abroad is to reduce living costs but it seems that many of the countries on this list would not be much cheaper than the United States. Even Panama which is often touted as a low cost destination did not seem especially cheap to me when I visited there last year.
Of course there are many factors in choosing where to retire besides just cost of living. Some of those include residency, taxation, health care, safety and stability, weather, and how convenient it is to visit friends and family still living in the U.S. If you are considering retiring abroad you might want to check out the article on “10 Questions to ask before you retire abroad.”