Retirement. The word is often followed by thoughts of a new place to live. But a new country? Retiring abroad sounds appealing, but there are important issues to keep in mind, such as cultural clashes and distance from family and friends.
Still, as people plan for retirement, an increasing number are looking abroad, and as communications and travel shrink the world, more countries are becoming options to live out the golden years.
The Central American nation of Costa Rica is the most highly rated country to retire, according to individuals who were surveyed for the 2016 Best Countries rankings.
The 2016 Best Countries rankings, conducted in partnership with brand strategy firm BAV Consulting and the Wharton School of the University of Pennsylvania, asked more than 16,000 survey participants from four regions to associate countries with specific attributes. The Best Countries for a Comfortable Retirement are ranked based on scores from individuals who are 45 years or older and who define themselves as “upper class” on a compilation of seven equally weighted country attributes: affordable, favorable tax environment, friendly, is a place I would live, pleasant climate, respects property rights and a well-developed public health system.
No. 1 Costa Rica offers beaches and coastlines on the Pacific Ocean and Caribbean Sea, as well as green inlands. According to Numbeo, a crowd-source global database of various statistics, Costa Rica offers a competitively low cost lifestyle, and the United Nations gives it a favorable rating for its overall standard of living.
Europe occupies a special place for people who are considering retirement: Twelve of the top 20-rated countries on the survey come from that continent. New Zealand and Australia also are seen as attractive countries to retire — both finishing in the top five.
The Top 5 Best Countries for a Comfortable Retirement
No. 5: Australia
Next door to its island neighbor New Zealand, the continent-nation of Australia offers retirees a warm climate, low crime and top-level health care at reasonable prices. Like New Zealand, retirees must meet financial requirements. Once in the country, retirees have endless lifestyle options, from several urban areas — punctuated by Sydney and multicultural Melbourne — to smaller towns and rural areas.
No. 4: New Zealand
The stunning landscapes of New Zealand, which offer tropical climates on the North Island and temperate climates on the South, are one of the most obvious reasons to retire in the country. It also offers a variety of rural and urban lifestyles and top-rate health care. Be aware, however: While New Zealand’s overall cost of living is competitive, there is a barrier to entry. Both the temporary and parent retirement visas require significant amounts of money for investment into the country.
No. 3: Canada
Like Ireland, Canada presents a contrast to the stereotype of living out the golden years under golden sunshine. And the North American country has a comparatively high cost of living. Offsetting those issues are its health care system and varied lifestyle choices, from the urban East with European flavor in Quebec, to wide open expanses in the West, with Vancouver one of the most scenic cities on the planet.
No. 2: Ireland
Ireland offers a grayer counterpoint to dreams of living in a sun-splashed tropical climate with white-sand beaches. But its rolling green landscapes and dramatic seasides are just as alluring as palm trees and sand. It offers the quiet peace of small, sleepy towns as well as sophisticated — albeit more expensive — lifestyles in its primary urban centers of Dublin and Cork.
No. 1: Costa Rica
Known for its comparatively progressive environmental policies, Costa Rica offers year-round tropical climate and lifestyle options ranging from small towns to its cosmopolitan capital, San Jose. It was one of the first countries to woo foreign retirees with a package of special benefits, its “pensionado” program.
Want to Know More?
Click below to see the full list of Best Countries for a Comfortable Retirement, or visit the U.S. News Best Countries homepage to find news and more rankings. The 2016 Best Countries report and rankings were formed in partnership with brand strategy firm BAV Consulting and The Wharton School of The University of Pennsylvania.
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Best Countries for a Comfortable Retirement originally appeared on usnews.com
