Source: Retirement Living
Retiring to another country can help stretch your savings with affordable living costs and tax benefits. Low-cost, high-quality health care is often an appealing reason to consider retiring abroad as well. Many retirees find immersing themselves in international living fulfills a lifelong dream.
We researched the best countries to retire to using several economic data points, quality of life ratings, inflation, unemployment, housing costs and climate data. You’ll find the following measurements of affordability and lifestyle for each of our 10 best countries for retirement:
Cost of Living Index expresses the combined average cost of food, housing, energy, transportation, health care and other daily expenses. A score higher than 100 means the cost of living is higher than in the United States. Scores under 100 reflect a comparatively lower cost of living than the U.S.
Purchasing Power Index measures the country’s average income (earned and passive) against the cost of living index. The United States is assigned the value of 100. A purchasing power index under 100 indicates citizens can afford less compared to the U.S. For example, an index of 80 represents 20% less affordability in the sample country than the U.S. Countries with a lower cost of living or significantly higher average income could score above 100, which means people living in those countries have more purchasing power than those in the U.S.
Quality of Life Index measures the level of political and economic stability, legal practices, civil rights, health services, medical services and safety and climate data combined with the cost of living, average income and foreigner-friendliness. The closer to 100, the higher the quality of life.
Average temperature is included to help you narrow your choices based on climate.