Top 10 Best Places To Retire Abroad

Introduction: Welcome to Badass Digital Nomads, where we're pushing the boundaries of remote work and travel, all while staying grounded with a little bit of old school philosophy, self-development, and business advice from our guests.

Kristin:    00:00:23    Hey there, Kristin Wilson from Traveling with Kristin here and welcome to episode 247 of Badass Digital Nomads. I'm coming to you live this week from Tulum, Mexico where I haven't been in more than 10 years. So suffice to say it's definitely changed a lot. If you've been to Tulum before and you went there a long time ago or you went there recently, then you're probably familiar with a lot of the changes that have been taking place, especially since the pandemic. The place has grown a lot. It's very crowded, there's a lot of traffic. The prices are a mix between local Mexican prices and US prices, so it's, it's definitely been an adjustment in my first few days here and definitely a lot busier than the last time I was here with lots of new construction, lots of people and I'll be reporting back with my full impressions of the destination and also the cost of living here, but it is amazing to be back in Mexico, which is one of my favorite countries in the world, and also just to be in such a beautiful place.  

Kristin:    00:01:40    I went to the beach this weekend and it was really nice and relaxing, but also had to pay for parking anywhere I went. Tulum has a lot of public beaches but only with limited access through private establishments, so it's a bit different from the rest of Mexico where they even have security guards guarding the beaches in front of hotels and they won't let you in unless you are staying in the hotel or if you are eating at the restaurant. And many of the restaurants also have fees to enter and minimums of upwards of a hundred dollars sometimes or more if you just want to go down to the beach and have some food. So it kind of feels like Miami in that sense, maybe even stricter because at least in Miami you can walk down the beach and hang out in front of different hotels and buildings, but here they have areas roped off and it's yeah, pretty, pretty tight security.  

Kristin:    00:02:41    Having a car is really helpful here, but it does make it tricky when you're just running errands and you want to go to a store or go to a restaurant and stay for 30 minutes or an hour, but you have to pay 200 or 300 pesos to park, which can be $10 or $20. But fortunately in Tulum Town I haven't come across any paid parking. You can just park anywhere on the street and it seems like first come, first serve any direction works and being here, I've just been reminded of how friendly the Mexican people are and am really happy to be adjusting to this laid back lifestyle. Things definitely move a lot slower in Latin America, but it's also nice to be around such a family oriented culture and just like so many other countries and the world, a place where people are happy to take the time out to help you with things, give you directions, give you recommendations.  

Kristin:    00:03:41    I was getting a smoothie bowl yesterday and I asked the waitress there if she had any recommendations for cenotes and she went and got a map and showed me on paper encircled places where I could go that were not touristy and she gave me a lot of local tips and places to park if you go to the beach and things like that. So that's uh, always really nice and it's, it's something that I find more and more often outside of the US compared to in the US where people are just a lot busier and not as apt to take the time out to help strangers with things like that. Today's podcast is about the top 10 places to retire in the world according to International Living's Retirement Index, and this was formatted from a YouTube video that was pretty popular in the first month of being published on my channel.  

Kristin:    00:04:40    I think it has close to 200,000 views now. So this leads me to believe that it's a topic that you're really interested in and even if you're not retiring, these are still great places to live and lots of pertinent information as well. So I hope that you get a lot of value from this and stay tuned for more about other places that you can retire and live abroad that aren't on this top 10 list. In case you missed it, bookings for our group trip to Costa Rica in August are open. I will leave a link to the early bird pricing in the show notes where you can save $150 off of the trip price. This is a long weekend, August 9th through 12th, 2024, and the early bird rate is 1799. So take advantage of that by being one of the first people to book. You can reserve your spot with a 25% refundable deposit and I look forward to seeing you in the land of Pura Vida. Also, if you're looking to move or retire abroad in 2024, I can help you. I've been helping people relocate around the world since 2011 and you can inquire about my relocation services at TravelingwithKristin.com/relocation and I'll also leave that link in the show notes. Enjoy.  

Kristin:    00:06:11    If you are looking for the best places to retire in the world, then you're probably concerned with the country's climate cost of living, political stability, safety, security, community and so much more. And you're probably also wondering where you can find all of these qualities all in one place. In this video, I'm sharing with you the 10 best places to retire in the world and why according to International Living's Global Retirement Index, but I'm not going to sugarcoat things. I'll tell you the pros as well as the cons, what you need to get residency there, how the healthcare is, and if your pensions and social security income will be taxed. We'll save the best places for last and at the end of this video, I'll tell you which countries should be on this list but aren't  

Colombia

Kristin:    00:07:03    In 10th place. We have Colombia nestled between the Caribbean Sea and the Pacific Ocean, a land of natural beauty with a long history of tradition and culture. What I love about Colombia other than its natural beauty is that you have so much diversity when it comes to choosing a place to live. Whether you want to check out Cartagena or the San Blas islands or head to Cali or the cities of Bogota or Medellin, you have a lot of options and wherever you go in Colombia, you can expect a really low cost of living at 60 to 80% less than the United States. Colombia also has a great healthcare system, ranked number 22 in the world, and it's known for having a very friendly and welcoming local population to foreigners and retirees. No place is perfect though, and there are some safety and security concerns in Colombia.  

Kristin:    00:08:02    There can also be very heavy rainfall at times of year and it's known for having a lot of bureaucratic red tape, but really, which government doesn't have that. It can also be a challenge if you don't speak Spanish, you can retire in Colombia on Colombia's retirement or M Visa, and you can qualify for this visa with three times the monthly minimum wage, so that comes out to around $800 or $900 per month. This visa is available for three years and it's also renewable and it's fast to get approved. So those are some of the benefits of retiring in Colombia. You will need a health certificate in a clean criminal record to be able to qualify for this visa, but the good news is that there is an exemption on foreign sourced pensions, although if you're not retiring there but you are a tax resident in Colombia, you could be subject to income tax on their progressive scale from zero to 39%.  

France

Kristin:    00:09:08    If you've ever envisioned yourself living the beautiful life on the French Riviera or in the French countryside, then consider a number nine on the list. France, you know, before I ever traveled to France, I always assumed that it was very expensive, and while Paris does have some of the most expensive hotels in the world, I was shocked by how reasonable the cost of living is there and how affordable food, hotels, rentals and your daily expenses can be. I remember going on a road trip with my friend through the French wine country of Saint-Emilion and our Airbnb over there was less than $50 a night, and I can remember having a multi-course lunch at a chateau with wine included for somewhere around 12 to 20 euro per person. In general, you can expect your cost of daily goods in France to be about 10% to 25% lower than they are in the United States, and rent prices can be up to 50% lower than the US when it comes to healthcare.  

Kristin:    00:10:13    Residents can pay anywhere from zero to 25% of the cost of the care, and according to IL for a retired couple, it could cost you around $1,800 per year. Like Colombia. One of the main benefits of retiring in France is really the diversity of the places that you can choose from the big cities, Paris, Lyon, Toulouse to smaller villages or the beautiful French Riviera or the coastline. I think France is one of those countries that's really underrated when it comes to nature because people often think automatically of the cities, but you really have it all from the mountains to the countryside to the beach. The food in France is incredible. I don't even think I need to say that, but if you haven't been to a French grocery store before, it will change your life. Amazing. As a bonus, if you live in France, you'll never run out of chocolate croissants.  

Kristin:    00:11:09    But in all seriousness, it really does have a very relaxed pace of life, even in the cities and Parisian suburbs and don't pay attention to the stereotypes about the French being cold and unapproachable because it is an open society if you learn to speak French and if you really have an intention of integrating with the local culture there, it is possible to find community. It might just take a little bit longer than in some other countries on the downsides. Property in France, although it can be quite affordable, can also be hard to come by and it can be expensive, especially in the cities. If you live there year round, depending on where you are, the winters can be long, dark and gray, and as I mentioned, it is almost a requirement to learn to speak French. If you want to live there and have any chance of integrating with your local community to retire in France, you'll first need a long stay visitor card and that's good for up to one year. After that, you would need to switch over to a French residence permit. Foreign pensions are taxed in France, although there is a tax treaty between France and the us, so check if it's the same with your country so that you can avoid double taxation  

Rosetta Stone

Kristin:    00:12:34    Wherever you plan to live or retire around the world. Learning the local language is a must. My life completely changed when I learned Spanish 20 years ago, but I just got back from a trip to Brazil and I was really frustrated with my inability to communicate while I was there. So in preparation for my upcoming trip to Portugal, I've been brushing up on my Portuguese by using Rosetta Stone. I really like that you can make a lot of progress in just 10 minutes per day and you can track your progress in the app. You can start learning a language with Rosetta Stone at any age, and if you click the link below this video, you can get 50% off a lifetime subscription to all languages, so you can learn as many as you want or you can come back to ones that you want to learn better or if you need a refresher on those, use the link below to get 50% off. Lifetime access right now and thanks to Rosetta Stone for partnering on this video.  

Malaysia

Kristin:    00:13:43    From Sandy beaches to modern cities, Malaysia has it all, and with the Malaysia my second home visa, you can stay in Malaysia from five to 15 years with the option of getting a residence permit. Malaysia is often thought of as a close second to living in Singapore, but for a much lower cost. Malaysia is an advanced country with a modern developed economy and a stable currency, especially compared to some other countries in the region. It also has more affordable real estate than neighboring countries such as Thailand. It's very safe, it has great food, especially good street food and expats love it there so much that it was voted the number four best country in the world for expats in 2023, and it also ranks number 20 on the global peace index. Healthcare is also very high quality and very affordable. You can expect to pay around $50 for a doctor's appointment there and anywhere from three to $7,000 for a knee replacement, for instance, on the downsize, although it does have a warm climate, it can also get very hot and humid and can have some problems with poor air quality and with the Malaysia, My second home program, you are required to invest in real estate.  

Kristin:    00:15:05    It's also not known as being the most open and progressive country when it comes to equality, and although the cost of living in Malaysia is low, you can buy lunch for just a few dollars. There are high taxes on alcohol, so your happy hour might cost you a little bit more. The retirement visa you'll want to look at is the Malaysia, My Second Home Program. This was developed by the Malaysian government in an attempt to attract foreigners to live and retire there, and it was quite successful. They've just given it an overhaul for 2024, and they've created three different categories, silver, gold, and platinum. And depending on which category you apply for, that determines how many years of residency you can get there. So it's anywhere from five to 15 years, but with the platinum tier, you can actually get permanent residency, and this is something that was really difficult to come by before. There are some perks that come with this visa. You can buy a house, you can import or buy a car, and you can also apply for a domestic helper there.  

Greece

Kristin:    00:16:21    If the idea of living a Mediterranean lifestyle surrounded by sun, blue seas and ancient history appeals to you, then look no further than Greece. From the bustling streets of Athens to the tranquil shores of the Greek islands, Greece has become popular for digital nomads, retirees and foreign investors, not least because of its golden visa program, it's also the cheapest country in Western Europe. I've always been fascinated with Greece probably because of its ancient history, amazing climate and delicious food, fresh produce, fruits, nuts, cheeses. It's really the home of the Mediterranean diet. One of the highlights of my travel life was definitely visiting Olympia, the site of the original Olympic games and being able to walk across the field that ancient athletes played on. I also picked olives from olive trees and sailed through the Greek islands. It's just an amazing place and friendly people, nice culture and affordable lifestyle, and it's also a great hub if you want to explore the rest of Europe and the world.  

Kristin:    00:17:31    You can get really cheap flights out of Athens, for example, round trip to Rome for only $63, but you've also got direct flights to the Middle East, Africa, Asia, and beyond. There are some downsides of course, first and foremost, you have the language barrier. If you don't speak Greek, there's also some economic challenges in the country, some political instability, and also the infrastructure can be inconsistent, including the healthcare. Greece doesn't have the best healthcare system in the world. It's not the worst either. It ranks about 41, but you could get some inconsistent access to care depending on if you're living in a very remote area or on a remote island, you might need to travel to a place with more modern facilities. There can be some petty crime in certain areas as well. Cities like Athens for me took a little bit of getting used to.  

Kristin:    00:18:29    You've got some graffiti petty theft, so there are some things to watch out for, but nothing much different than in any country. To retire In Greece, you have really two main options for your residence permit. You could either go with the Greek Residence Permit, which requires 2000 euro per month in income, or you can go with the Greek golden visa where you can invest in real estate from 250 to 500,000 euro. The golden visa option is nice if you think that you're going to be traveling around because there's no minimum stay requirement, and that gives you permission to live in Greece for up to five years. Now, technically it is a path to permanent residents and citizenship, although Greece has one of the lowest naturalization rates around one or 2%, so it's not the best country if you want to get another passport. And then if you go with the residence permit option, then that is for one year, and that's also renewable for taxes. You can expect a 7% flat tax there. And then also Greece has international tax treaties with other countries, so you can avoid that dual taxation.

Ecuador  

Kristin:    00:19:46    Nestled in the heart of South America, Ecuador offers retirees a diverse and enriching experience with its breathtaking landscapes, including the Amazon Rainforest, the Andes Mountains, and the beautiful coastal regions. If you're looking for a country with a lot of natural beauty complimented by its low cost of living, then Ecuador can make a prime choice for you to relax and enjoy a peaceful lifestyle. Ecuador's friendly people and welcoming locals make it easy for expats to integrate into the community. Whether you're living in vibrant Quinto or the tranquil streets of Cuenca, Ecuador is a solid choice for retirement because it has so much diversity in natural beauty within the country and also a much lower cost of living compared to some neighboring popular countries like Costa Rica or Panama. Ecuador has a really central location between north and south America. It's close to the US. It has a dollarized economy and due to its position on the equator, you don't have to worry about hurricanes.  

Kristin:    00:20:56    Property in Ecuador is also quite affordable. You can rent an apartment or a house starting from a few hundred dollars per month, or you can acquire a nice apartment or property in a place like Salinas for a hundred or $200,000. Ecuador has quite a modern healthcare system, although it does rank 82nd internationally, but the IESS government system there could run you around $95 per month, although you can also pay out of pocket for doctor's appointments or surgeries or get private health insurance on the downsides. There's definitely been an uptick in violence and crime in recent years, especially since the pandemic. Many people say that the country is destabilized right now, and there's at the time of filming this video an actual internal armed conflict going on, which doesn't bode well for the country's reputation, but a lot of the locals and local expats will say that this type of violence is very isolated and that it's not affecting the country as a whole. If you're looking to retire in Ecuador, then check out the country's Retirement or Jubilado visa that you can get starting from age 65 and up. It's less than $500 to apply and you can apply from within Ecuador or your home country as long as you can prove a monthly income of $800, and there are a few other requirements. Fortunately, foreign pensions from abroad are not taxed in Ecuador, but if you are a tax resident there, otherwise you could be subject to income taxes on their progressive scale from zero to 37%.  

Spain

Kristin:    00:22:46    Do you see yourself enjoying a Mediterranean lifestyle, maybe a glass of Kava or wine or Sangria at lunch and some siesta in the afternoon? If so, Spain welcomes you with its straightforward visa process provided you can support yourself financially and not work while you're there. Spain was voted the number two country in the world for expats to live in. Its also the second most affordable country in Western Europe after Greece. Spain is one of those countries that really appeals to a lot of people whether you're looking to retire there or not, it offers so much from the amazing food and Tapa's to the history and culture, but it's one of those countries that really has a lot of variation when it comes to where you want to live while staying within Spain from the beaches of Costa del Sol to the Pyrenees Mountains, to the Canary Islands, and of course the bigger cities like Madrid and Barcelona, generally, you can keep your cost of living pretty low around $2,000 or 2000 euro per month, but if you are living in the cities, then your cost of living will be significantly higher, especially when it comes to your rent and housing because Spain is such an attractive option.  

Kristin:    00:24:06    It attracts a lot of foreigners there. So with a lot of expats there, you can get access to a really strong community, but if you move there, then I highly recommend learning Spanish because that will just help you adapt that much better. And many people don't speak English outside of the more touristy areas. Spain is also known for being quite an open society when it comes to equality and equal rights, and it's also known for having really good public transportation. So you can zip around the country or the continent of Europe pretty easily by bus or train. Spain also has one of the top rated healthcare systems in the world. You can get private insurance there for less than $150 per month and with a $0 deductible. Just remember that if you're going to Spain on the Non Lucrative Retirement Visa, then you can't work or have any income producing activities while you're there.  

Kristin:    00:25:04    So if you need to make extra money, keep that in mind. Also, as I mentioned, housing can be quite expensive in the urban areas, and if you're looking to invest in a property, well then property taxes are also quite high there. Although Spain has a beautiful culture, there are some things that could take getting used to. First of all, the restaurants don't open until really late nine or 10:00 PM so if you're looking for those early bird dinner specials, Spain is probably not the place for that. Spain is also infamous for having quite a tough bureaucratic system there, and the local foreigners like to call it hashtag getting "Spained" when things don't go their way. If you're looking to get a driver's license in Spain, that test will be in Spanish. Another reason to learn the language if you're looking to retire in Spain, then first check out the Non Lucrative Visa, which is good for one year, renewable for up to five, and then you can get permanent residency and ultimately citizenship there. You can also go the Golden Visa route, but that will set you back at least half a million euro up to one or 2 million depending on the type of investment that you're making in the country. When it comes to taxes, your foreign pension could be partially or fully exempt from taxes there. It really depends, so make sure to check with a tax advisor, but Spain is notorious for its high income taxes from 19 to 47%  

Panama

Kristin:    00:26:43    Frequently topping retirement destinations lists. Panama is known for its modern infrastructure, tropical climate, and the famous Panama Canal. The country offers various retiree benefits like discounts on entertainment, medicine and more. Plus its Pensionado program is one of the most retiree friendly visas in the world. Panama, this is one of those golden countries for retirement. It's sunny, it's warm, it's a dollarized economy. It's close to North America and South America for that matter, and it's also in a good spot to be able to avoid those hurricanes and tropical storms. It's safe, it's beautiful. You've got the  beaches, you've got the mountains of Boquete, and it is a very friendly and welcoming culture. So that's why this country is always ranking high as a great place to live abroad, also to retire. Now, Panama City can be expensive depending on the type of housing you have, but you can pretty much expect to be able to live on social security income in most parts of the country.  

Kristin:    00:27:49    There's not too many downsides to living in Panama, which is probably why it ranks so highly on many of these lists. One thing that comes to mind though is the weather. So although it's a warm climate, it can also be very sweltering, hot and humid, especially in Panama City. So if you wanna escape the heat, then make sure to head to the mountains. Also, the language barrier, cultural adaptation, these are gonna be problems that you'll face wherever you go, so it's not something that's very specific to Panama, but it is a very slow and relaxed pace of life, which is good for some aspects of retirement, but can be frustrating in other ways with that slow government bureaucracy. And also mañana time where manana can mean anytime or it could mean never, or it could mean actually tomorrow In Panama, you can get the Pensionado visa with a thousand dollars in monthly income, but if you're not sure that Panama is the right place for you, and it's one of the few countries that has a really generous tourist visa of 180 days, so you can go and stay in the country for six months and test it out first.  

Kristin:    00:29:03    It's a great place to go if your top priorities are living somewhere tax free and having good healthcare. Panama's known for its very modern healthcare system with many English speaking doctors, and also it doesn't tax foreign income or foreign pensions.  

Mexico

Kristin:    00:29:27    With its pleasant climate, affordability and proximity to the United States. Mexico is a top choice for retirees. It was also voted the number one country in the world for expats in 2023, and if you can prove your financial stability, you can easily obtain a temporary residence visa or get permanent residency. One of the things I love about Mexico besides the food is its amazing diversity, but also how much history it has. This is not a country like many island nations where it's all about the beach. Although Mexico has 7,000 miles of coastline, it also has more UNESCO world heritage sites than any other country in the Americas. So regardless of what you're looking for, it's likely you can find it in Mexico. Whether you want to go surfing in Baja California, live in the cosmopolitan city or find a cooler mountain town with a strong expat community, such as a place like San Miguel de Allende.

Kristin:    00:30:32    Mexico's also well located if you're coming from the US or Canada, but it's a country that embraces tourism, so it has generally good infrastructure and also a lot of direct flights from Asia, Europe and beyond. When it comes to healthcare, Mexico is a medical tourism mecca. People, especially from the US and Canada, flock there to get high quality, low cost treatment. It's a country where you can expect to find quite a few English speaking doctors and it's really affordable to pay out of pocket or to get private health insurance. One time when I was in Playa Del Carmen, I got really sick, but I was able to go to an urgent care, get antibiotics, and I think the doctor's appointment and everything cost me around $30 on the downsides. One of the things that I don't like about Mexico is that you can't drink the water.  

Kristin:    00:31:28    No matter how many times I've gone to Mexico, somehow I feel like I always get sick from the water, but luckily, that's a really easy fix. You can just get one of those refillable bottles, put it in your kitchen. But on a more serious note, Mexico does have that narrative in the media, especially as being a dangerous country. Although anecdotally, I have never felt unsafe there or experienced any crime or known anyone who's been a victim of a crime there. It can be quite isolated in in certain areas of the country and even the US State Department, which is historically very conservative when it comes to travel warnings. They only have active advisories right now in six of the 32 Mexican states. So as with anywhere you go in the world, use caution, but I wouldn't discount Mexico just on the basis of safety and security.  

Kristin:    00:32:24    Another thing that I've seen a lot of foreigners complaining about online are the noise levels in Mexico, depending on where you're living, if you're in a place with a high population, you know it's possible that you could be kept up at night by barking dogs or woken up in the morning by roosters or maybe hearing cars drive by with speakers on the roofs, but that is just part of the culture, and that's something that's quite common throughout Latin America. And you can also find a smaller village or rural area to live in without as much noise. Infrastructure is also a plus for Mexico. You could also get fiber optic internet in a lot of places, although I have noticed that it can cut out sometimes and the electricity can as well though it's getting less frequent in recent years, probably not an issue if you're going to retire there, probably more so if you're going to be working remotely, but overall gets a thumbs up from me.  

Kristin:    00:33:23    Now, if you're looking to retire in Mexico, then you'll wanna get the Mexican Resident Card. However, you'll first need to apply for the Temporary Stay Visa, which is renewable for up to four years. Now, in either case, you will need to apply for this from outside of Mexico at an embassy or consulate, and also you can't work on these visas and permits, so if you wanna work, you'll need to get a separate work permit. One of the biggest requirements is proof of financial solvency, and the exact numbers vary depending on where you're applying from, but it's typically around $300,000 in savings or investments and also showing $7,000 of income or pension in the last six months. Foreign pensions and social security benefits are not taxed in Mexico, but if you are a foreigner moving there and you become a tax resident, then you will need to file an annual tax return and you could owe taxes on your worldwide income.

Portugal  

Kristin:    00:34:37    Known for its stunning coastline, ancient history and affordable lifestyle, Portugal has become a favorite for retirees in recent years. The country's sunny beaches, historic towns and modern healthcare system often keep it among the top retirement in living abroad destinations in the world. Portugal is full of diverse places to live from the buzzing capital of Lisbon to the relaxed beaches of the silver coast or the Algarve. Portugal is also extremely safe, ranking high on the global peace index. It has good infrastructure, roads, public transportation, and makes a close hub to the rest of Europe. Portugal has the number 12 healthcare system in the world according to the World Health Organization and as a foreign resident there you get access to both the public and private healthcare. You can also pay for a private health insurance plan that shouldn't cost more than around $150 per month, but Portugal was downgraded on this list compared to last year due to its increasing cost of living and also uncertainty over its tax visa and residency policies.  

Kristin:    00:35:52    So you might have remembered when Portugal discontinued the real estate option of its golden visa program, which made a lot of people unhappy, but also probably needed to happen as it was likely responsible for a lot of the increase in housing prices. However, in 2023, Portugal's, NHR, Non Habitual Resident Tax Benefit was discontinued, and this gave people a lot of tax credits and exemptions for up to 10 years on foreign earned income. So if you are already a resident there, you could be grandfathered into this system by the end of 2023, but if you're looking to retire in Portugal in 2024 and beyond, that is definitely something to keep in mind if you're thinking of moving to Portugal. Some of the other downsides to living in Portugal, other than the increasing housing costs, which have largely been attributed to foreign investors and renters, that's a topic for another day though, is that uh, some people mention that they don't like seeing the abandoned buildings there.  

Kristin:    00:37:00    They don't like the graffiti and also the Portuguese bureaucracy can be quite frustrating to people. But one thing to keep in mind when looking at the cons of these countries is that regardless of where you move in the world, there will be pros and cons. There will be things that you like and don't like, and it's really important to know that when you move to a country, that country is not going to change for you. It's probably not going to change while you're there. So it's important to assess both the pros and cons, but kind of find a balance to what you are happy to live with and what is a deal breaker for you. One thing for me personally, although people rave about the weather and the climate in Portugal is that I found that the insulation isn't that good, at least in the places that I've stayed.  

Kristin:    00:37:50    So if it was cold outside, it felt colder inside my apartment. If it was hot outside, it felt hotter inside. So make sure to get someplace that has climate control, if that's important to you. Or like my Portuguese friends say, if you're cold, just wear more clothing. Now since the real estate category of Portugal's Golden Visa was discontinued, then hands down, the most popular option to retire in Portugal is through the D7 Visa. Now with this program, you'll need to have 760 euro in monthly income as well as health insurance, a clean criminal record, and proof of accommodation. The good thing about this option is that you can apply for permanent residency after five years, and it's also a path to citizenship, but this is the type of permit for you if you're planning on actually living in Portugal because you will need to be there for about six months per year to be able to maintain your residency status. As I mentioned, Portugal's NHR benefit was discontinued in 2023, so it's unclear at the moment what the income tax will be on your foreign pension moving forward. Now, there was a new system called the Incentivized Tax Status Program that was proposed with a 20% flat tax rate, but details on that are still pending. Either way, the NHR program had to go according to Prime Minister Antonio Costa who said that the program no longer made sense, and it was inflating the housing market, which has reached unsustainable prices. I think we can all agree on that.  

Costa Rica

Kristin:    00:39:42    Costa Rica was International Living's top pick for a place to retire this year and for good reason. Nestled in Central America, Costa Rica offers retirees a peaceful life amidst lush rainforests, scenic mountains, and beautiful beaches. The country's excellent healthcare system, warm weather, reasonable cost of living, and retirement friendly policies make it an excellent choice for retiring abroad, especially if you're looking for a peaceful nature centric retirement. Costa Rica has a lot of prose when you're looking for a retirement destination. It's stunningly beautiful with beaches that look like postcards. We've got the most incredible sunsets, especially on the Pacific coast, and it's also a very friendly, welcoming local population that is really embracing tourism as well as foreign residents from around the world. If you're looking for year round, spring-like weather, then consider Costa Rica's Central Valley, which has some of the best climates in the world in towns like Athenas.  

Kristin:    00:40:47    But then of course you also have the beaches and coastal areas. One of the biggest benefits of going to Costa Rica though is its proximity to the US and Canada. You've got direct flights to many international airports, and you have two international airports within the country, both San Jose and Liberia. Costa Rica also has a thriving medical tourism industry, so if you're looking for affordable, high quality healthcare, then Costa Rica is the place you can actually get access to the public healthcare system if you're getting the retiree or Pensionado Visa in Costa Rica, although private insurance is also quite affordable, and I've never paid more than $50 or $60 for a dental cleaning or a regular doctor's appointment, I've also paid out of pocket for hospital tests and lab work, you name it, because it was actually easier and cheaper for me to just pay for it than to even go through the process of recovering that money through my insurance.  

Kristin:    00:41:49    So you've got good healthcare, you've got a good location, and it's also an ecotourism haven full of beautiful nature and wildlife and a relatively affordable cost of living. You might also experience less culture shock in Costa Rica. A lot of my Costa Rican friends have said that they think that Costa Rica has really adopted a lot of US culture, and you'll see a lot of US chains down there. English is widely spoken in many areas as well, and there's a lot of international residents. So it's a place that you can really feel like home without having as much culture shock compared to if you move to Paraguay, Uruguay, or places where there aren't as many foreign retirees. A downside to living in Costa Rica is that it is one of the most expensive countries in Latin America. So although it's possible to keep your cost of living low, if you're living like a local, your cost of living can easily creep up to two, three, $5,000 depending on where you're living if you have a car and a few other factors.  

Kristin:    00:42:59    So depending on your lifestyle, it could get quite expensive there, and in some cases it could cost you the same or more than your home country. Crime and violence also a very big consideration there. Now, Costa Rica's known as being the Switzerland of Central America for its natural beauty, its peace. It doesn't have an army, but crime has been a problem there, and it's a big issue right now. It has been for many years, but it seems to be on the uptick. I recently read some articles that people are buying more security systems. People are feeling less safe, including local business owners who are trying to find ways to protect themselves and feel like they can't necessarily rely on the police force or the government. So this is something to keep in mind. Also, a lot of the crime doesn't necessarily make it into the mainstream media.  

Kristin:    00:43:55    I talk about this in my video on why expats leave Costa Rica, so you definitely wanna watch that before moving to Costa Rica if you haven't seen that already. But in general, Costa Rica is a beautiful place. It offers a really nice lifestyle, and it is an optimal place to retire, especially if you are from North America. If you're looking to retire in Costa Rica, then you can check out the Pensionado Visa, Rentista and Inversionista and you can qualify for this with as little as a thousand dollars in monthly income. There's no minimum age requirement, and it's valid for two years. Also, a path to permanent residency and citizenship. After 10 years now, you will need to pay monthly into the kaha or Social security and healthcare system. This can be 13 to 15% of your income. Now, there are a few countries that landed just outside the top 10 on this list, including Italy, Thailand, Malta, Uruguay, and Ireland. But there are also a lot of countries that I think should have made it on this list but didn't. I'm thinking of places like Argentina or what about the Philippines where you can live there forever. With the SRV Visa, there's also Indonesia, Turkey Islands in the Caribbean, as well as plenty of countries in Eastern Europe.  

Kristin:    00:45:28    I hope you enjoyed this in-depth review of the Top 10 Places to retire in 2024. Again, you can get my help with your move abroad by sending me a message through TravelingwithKristin.com/relocation. I'll also link to it in the show notes and definitely check out Rosetta Stone. Someone said to me the other day, if you're not learning another language, then what are you even doing? I was talking to a Canadian couple in Playa Del Carmen, and they were telling me how they've been taking online classes through Duolingo to learn Spanish. So whether you do a free app, a subscription app, or something like Rosetta Stone, which is just a one time lifetime fee, it's really important to be stretching yourself to learn another language and practicing for the next place that you travel or move. I was just talking with my mom last night about how grateful I am that I know Spanish and how much easier it has made my life, and how many doors it's open, and how many opportunities I have because I speak Spanish. So it's so important to learn another language, and Rosetta Stone is a great way to do that. I've been using it to learn Portuguese and French and hope to keep going. So I'll leave the link to that in the show notes as well. So you'll have the links to the Costa Rica trip where you can take advantage of the early bird pricing and reserve your spot with a 25% refundable deposit, the link to Rosetta Stone and also to my relocation services. Have a great week, and I'll see you again next week.