Retiring Overseas

Last updated: October 2026

Planning Where to Live is Part of Planning How to Live.

Many people focus on how much to save and how much to spend in retirement. Where you live is just as important. For some retirees, moving to another country can lower living costs, bring a warmer climate, and offer a different pace of life. It can also add new questions about taxes, healthcare, visas, and currency.

I have lived in five countries outside the U.S. on three continents over the past 20 years and currently live overseas. I can help you think through the financial side of a move, so you can decide with clear numbers and realistic expectations.

Why People Consider Retiring Abroad

Cost of Living. In some countries, housing, dining, and services cost much less than in the U.S., which can stretch retirement income further.
Lifestyle. Some people want a walkable town, a warmer climate, or a change of scenery.
Healthcare. Many countries have good private care at lower prices than in the U.S. Quality and access vary by country and by city.
Experience. Some retirees simply want to spend their active years learning about a new place and culture.A lower cost of living is not guaranteed, and it depends on the country, the city, and how you want to live. Costs can also change over time.

What to Plan for Before You Go

Taxes

The U.S. taxes its citizens on income from anywhere in the world. That means you will generally still file a U.S. tax return. The Foreign Earned Income Exclusion applies to wages and self-employment income, not to Social Security, pensions, or IRA withdrawals. The Foreign Tax Credit and tax treaties can help you avoid paying tax twice on the same income. Each country has its own rules on taxing foreign income, so the answer is different from place to place.

Healthcare

Original Medicare generally does not cover care outside the U.S., other than in limited emergency situations. Many countries let long-term residents join their public health system for a fee, and some visas require private international insurance. It is worth learning what your options are before you move, and deciding how you will handle Medicare.

Healthcare Costs in Retirement: Medical & Long-Term Care

Visas and Residency

Many countries offer retirement or long-stay visas, often based on a minimum pension or income. Requirements, fees, and rules change, so it is important to check current information with official sources.

Currency

If you live in a country with its own currency, the value of your income can rise and fall against your spending. Panama and Ecuador use the U.S. dollar, which removes that risk. A stable base of guaranteed income can also help.

Social Security and Income

Living abroad does not usually stop you from receiving Social Security, but when you claim still matters. It affects both your monthly income and how much of your budget is covered by dependable income.

Social Security Claiming Strategy

Distance from Family and Friends

Time zones and flight costs matter if you expect to visit family often. Countries such as Panama, Costa Rica, Colombia, Ecuador, and Belize are closer to the U.S. and share similar time zones. Europe and Southeast Asia involve longer trips.

Countries Many Retirees Consider

My guide compares 25 countries and covers visa paths, estimated budgets, English usage, healthcare, safety, and more. It includes:

Europe: Portugal, Spain, Italy, Greece, France, Malta, and others
Asia: Thailand, Malaysia, Vietnam, and Indonesia (Bali)
Latin America: Panama, Costa Rica, Mexico, Colombia, Ecuador, Belize, and Uruguay

Read the full guide: Retiring Overseas: How Live Comfortably Abroad

The guide includes general estimates and is meant as a starting point. Visa rules, tax rules, and costs change, so check current details before making decisions.

Take It One Step At a Time

Moving abroad does not have to be all or nothing. It is a major change and is best managed thoughtfully. Many people find it helpful to visit several of their top choices for a week or two each, then live in their top choice for three to six months before making any large, difficult-to-reverse commitments, such as selling a home. A trial stay shows you daily life without the "vacation goggles."

How I Can Help

I can help you:

Estimate what your budget might look like in different countries
Test how a move changes the income and portfolio size you need
Plan which accounts to draw from and how to handle taxes on your income
Understand how Social Security and Medicare fit into your decision
Build a retirement income plan that works whether you move abroad or stay put

I do not provide immigration or legal services, and I am not a CPA. For those parts, I can help you identify the right questions to ask.

Ready to Talk It Over?

If you are thinking about retiring abroad, or just want to see how it would affect your plan, schedule a free introductory Discovery Session. We can talk about your goals and questions, with no obligation.

Schedule a Free Discovery Session

This page is for general education and is not tax, legal, immigration, or investment advice. Residency rules and tax treaties are complex and change often. Please consult qualified professionals before making major decisions.

Three-step path to living overseas: explore, visit for one to two weeks, then test drive for three to six months.