Countries such as Thailand and Malaysia are popular with Australians because they are a 'day flight' away from most capital cities and have all the advantage of great weather, good / great health care systems and English being spoken in the country.
1. Charleston, Illinois. The safest and most affordable place to retire is Charleston, Illinois. Enjoy Lake Charleston, and take in all it has to offer on one of its many trails.
Cape Coral, Fla. With its desirable climate and favorable tax status, Florida is filled with popular retirement destinations. Many of our favorite retirement spots in the Sunshine State can be found along the Gulf Coast including St. Petersburg, Sarasota and Punta Gorda.
The long-stay visa grants you temporary residence in the country. It also allows expats to work, study, retire or live in Spain. The long-stay visa is indefinite and renewable annually. In order to renew this visa, you'll need to spend at least six months per year in Spain.
If your payment stops while you're overseas, we usually can't restore your payment until you return to Australia. It may be possible to have your payment extended if you can't return to Australia because of unexpected issues. These issues may include a serious illness or natural disaster.
As mentioned before, one thing that contributes to the overall quality of life in any particular country is safety. While both countries are considered generally safe, Portugal is by far safer than Spain. In fact, according to the Global Peace Index, Portugal ranks 4th, right behind Iceland, New Zealand, and Denmark.
1. Mississippi. World Population Review ranks Mississippi as the state with the lowest cost of living for 2022. A million dollars will likely provide you with a comfortable lifestyle for most, if not all, of your retired years.
Countries Natixis ranked as secure retirement locations are mostly concentrated in Europe but also include New Zealand and Australia. The top three countries in the rankings are Norway, Switzerland and Iceland, all of which have life expectancies of 83 years, compared to 77 in the U.S. and the world average of 72.
“Queensland's known as the Sunshine State. All those rays and the laid-back lifestyle might be among the reasons why it's Australia's happiest state,” Bayliss said.
Greece and Malta are some of the easiest and best places to retire in Europe, as they have large English-speaking communities. Other European destinations that are also suitable for retirement are Portugal, Spain, and Turkey.
States with no income tax
Fortunately, there are some states that don't charge taxes on retirement income of any kind: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.
Rather, Alabama is the most affordable state to retire in, according to WalletHub's “2023 Best States to Retire.” The analysis compared all 50 states across three key categories: health care, quality of life and affordability.
Portugal is home to over half a million foreigners from around the world. Retirement in Portugal can be an affordable adventure, safe from gun violence, with low cost, excellent healthcare, year-round mild weather, and plenty of friends just waiting to meet you.
Anyone wishing to retire in Thailand must obtain a retirement visa. It's pretty easy to get a retirement visa once you're aged 50 or older if you have either a Thai bank account with a minimum of THB ฿800,000 (around USD $24,000) or a monthly income of THB ฿65,000 (around USD $2,000) and up.
Australia has long been a popular retirement destination for the 'Poms'. In fact, the country is such a draw for pensioners that there are currently over 230,000 British expats claiming their state pension there. The first step of making the big move is to apply for a visa – and this can be the first big hurdle too.
How much money do you need to retire in Portugal? Depending on location and lifestyle, the cost of living in Lisbon can range from $2,000–$3,500 per month. Outside of the bigger cities, you can expect to spend less.
And that's okay. Many people can get by in retirement without $1 million. The Government Age Pension acts as a safety net for those that need additional income, to sustain them during retirement. However, it's still important to have a figure in mind as your ideal retirement savings goal.
How much super you'll need in retirement depends on the lifestyle you want. According to the government's MoneySmart website, if you own your home, the rule of thumb is that you'll need two-thirds (67%) of your current income each year to maintain the same standard of living.
This obviously depends on what annual income you want to fund but if you want to be able to afford a comfortable retirement—which is an income of just over $48,000 a year for a single according to the ASFA Retirement Standard—then you need a balance of at least $500,000.
Although Portugal is often described as one of the cheaper places to live in Europe, figures from Eurostat show a basket of basic supermarket goods is more expensive there than in either of the three other popular retirement destinations. Spain is the cheapest followed by France, then Italy.
Firstly, the Global Peace Index 2021 ranks Portugal as the fourth-safest country to live in, while Italy is ranked at thirty-two. Of course, this doesn't mean Italy is completely unsafe, but an environment where you don't have to worry about your safety is an added benefit for older people.