Considering a Move for Retirement? Here’s What You Should Know
If you’re thinking about moving for retirement, you’re in good company. Recent studies revealed that in 2024, approximately 258,000 Americans made the choice to relocate for their golden years, according to HireAHelper, a service that connects people needing help with moving.
Before you pack your bags for popular states like Florida, take a moment to explore options beyond the U.S. A new report from Everly Life, a life insurance company, highlights some of the best retirement destinations around the world.
This study assessed 137 countries on factors like cost of living, healthcare quality, safety, air quality, the percentage of elderly people, and the availability of retirement visas. Each country was scored from 0 to 100, allowing for an average ranking.
Topping the list is Estonia, which received a score of 79.41. The report notes that this Baltic nation offers reasonable living costs, strong healthcare, and high safety ratings. For example, Estonia has a cost index of 55.9, a healthcare score of 77.7, and a safety score of 76.5.
In addition to its appealing scores, Estonia also boasts a considerable elderly population, making it a friendly place for retirees. Mariah Bliss, a spokesperson for Everly Life, remarked, “Estonia offers Northern European healthcare standards and safety, but without the high costs seen in countries like Switzerland or Denmark.”
Following Estonia, Norway and Portugal came in second and third place as great retirement spots. The list also features Spain, Australia, Canada, Latvia, Hungary, Malta, and Italy in the top ten.
As you consider your retirement plans, it may be wise to try living on your retirement budget for a few years before making any final decisions. This can help you spot any financial gaps or lifestyle changes you might need to make, according to Stacey Black, a financial educator at Boeing Employees Credit Union.
No matter where you decide to retire, planning ahead can help you enjoy your new chapter to the fullest.
