More people each year choose to retire abroad to find a change of scenery, new experiences, and a lower cost of living. Even if staying within a tight budget is your biggest retirement focus, safety is likely to be another top consideration.
To help you find the best of both worlds, below are 10 of the cheapest countries for retirement that scored well on the 2018 Global Peace Index, which ranks 163 nations according to their relative peacefulness.
- Austria - Considered by many as the “Swiss alternative,” Austria offers all the stunning natural beauty of Switzerland at a price that’s easier on the budget.
- Australia - Thanks to a strong U.S. dollar, Australia is gaining traction as an affordable retirement destination.
- The Czech Republic - The expat community is growing but still fairly small: about 6,000 Americans have permanent or temporary residency here.
- Portugal - A low cost of living attracts expats from around the world to retire to Portugal’s sunny shores.
- Slovenia - Expect incredible scenery - mountains, lakes, and emerald-green rivers - plus plenty of medieval castles.
- Spain - 3,000-plus miles of sunny coastline, snow-capped mountains, mild weather, and friendly locals.
- Malaysia - This multicultural island nation has good housing options for retirees, excellent health care and, of course, miles of beautiful beaches.
- Chile - An established community of expats enjoys Chile’s high standard of living, natural beauty, cosmopolitan cities, and welcoming locals.
- Costa Rica - Costa Rica was one of the first countries to offer a special benefits package specifically aimed at expat retirees.
- Uruguay - Expat retirees enjoy the stable economy, mild climate, sunny beaches, and colorful culture.
Read this article for each country's ratings and retirement visa requirements.