Retirement opens the door to a brand-new chapter \u2014 and for some, that means it\u2019s the perfect time to switch up the scenery too.<\/p>\n
A Harris Poll found that 26% of boomers and 35% of Gen Xers were considering moving abroad within the next two years. (1)<\/p>\n<\/p>\n
It\u2019s tough to say how many retirees will actually take the plunge, but the dream of moving abroad is clearly growing. Here\u2019s why so many older Americans are imagining their golden years in another country.<\/p>\n
The top reasons many Americans cite for retiring abroad are the lower costs of living, lower crime rates, better political stability, cheaper health care services and potential tax savings, according to Global Citizen Solutions. (2)<\/p>\n
A whopping 86% of Americans were seeking a lower cost of living while considering moving abroad, according to the Harris Poll. After all, the United States is the ninth-most expensive country to live in, according to Wise\u2019s cost of living index. (3)<\/p>\n
As for health care costs, the U.S. tops the list. Per capita health care costs in the country were $13,432, nearly 40% higher than Switzerland which ranks as the second-most expensive developed country for health care costs, according to Peterson-KFF. (4)<\/p>\n
Between political tensions and rising crime, it\u2019s no wonder some retirees are rethinking life in the U.S. Every year, more seniors head overseas \u2014 and according to Global Citizen Solutions, some destinations are becoming especially popular with this new wave of expats.<\/p>\n
Read more: Are you richer than you think? Here are 5 clear signs you\u2019re punching way above the average American\u2019s wealth<\/a><\/strong><\/p>\n Global Citizen Solutions evaluates countries across key factors \u2014 including cost of living, safety, health care, taxation, and geopolitics \u2014 to identify the best destinations for Americans seeking to retire abroad.<\/p>\n According to this analysis, the top five destinations for expat retirees include Mexico, Uruguay, Costa Rica and Portugal. However, the top destination for retired American expats was Spain.<\/p>\n Spain scores a perfect 100 on the Global Citizen Solutions\u2019 Retirement Index. Not only is Spain relatively warm and beautiful, it\u2019s also affordable for American expats. The report finds that on average monthly expenses can range from $2,000 to $2,500.<\/p>\n Spain ranks 39 for cost of living on Wise\u2019s index and 23 on the Global Peace Index for overall safety.<\/p>\n Perhaps one of the most appealing aspects of retiring in Spain is the country\u2019s well-funded and affordable health care system.<\/p>\n The country spends roughly 9.1% of its gross domestic product to fund its universal healthcare system, according to Global Citizen Solutions, and a typical visit to the doctor can cost $10 to $20 out-of-pocket.<\/p>\n Fortunately, the Spanish government has eased the process for those looking to retire here. Spain\u2019s Non-Lucrative Visa is targeted at seniors who rely on passive income and pensions.<\/p>\n To obtain the visa, you need to provide proof that your monthly cash flow exceeds a certain threshold and that you can cover health insurance and your accommodation expenses independently.<\/p>\n Simply put, if you\u2019re financially secure and ready to trade the American hustle for a slower pace, a chic apartment in Madrid or a sunny coastal spot in Barcelona might be closer to reality than you think.<\/p>\n Join 200,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/strong><\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines<\/a>.<\/p>\n Harris Poll (1<\/a>); Global Citizen Solutions (2<\/a>); Wise (3<\/a>); Health System Tracker (4<\/a>)<\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: Retired Americans are now flocking Spain for a better life. Here\u2019s why it\u2019s been chosen as the #1 place to retire abroad<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Retirement opens the door to a brand-new chapter \u2014 and for some, that means it\u2019s the perfect time…\n","protected":false},"author":2,"featured_media":559489,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5312],"tags":[178520,16918,2000,299,178519,174409,3941,27479,99881,16483,104],"class_list":{"0":"post-559488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-spain","8":"tag-costs-of-living","9":"tag-dave-ramsey","10":"tag-eu","11":"tag-europe","12":"tag-global-citizen","13":"tag-harris-poll","14":"tag-health-care","15":"tag-health-care-costs","16":"tag-older-americans","17":"tag-robert-kiyosaki","18":"tag-spain"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115520160608616229","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/559488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=559488"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/559488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/559489"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=559488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=559488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=559488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}