What if you had the choice to live anywhere in the world, where would you choose to live? Most times this decision is driven by being in close proximity to family members and friends (an important consideration as being socially connected may be the most life-enhancing of all enhancers). There is another group, however, that evaluates the world’s top destinations for retirees with other important considerations such as cost of living, healthcare, housing, visas, climate, and ease of integration. Speaking the language matters too.

Humans are living 20 years longer than they did in 1950 and a growing number of people are choosing to spend their later decades abroad. Already 73 million Americans are 65 years old and older (over 21% of the population). Living without an income in a paycheck-to-paycheck world, at many income levels, has placed affordability as a primary concern. Based on data from the Federal Reserve's 2022 Survey of Consumer Finances, the median American household aged 65–74 has saved just $200,000 for retirement. Add in social security income and that is not much to live on! Even some of the wealthy are gravitating to areas that reduce living costs. Greece, Panama, Costa Rica, Portugal, Mexico, Italy, France and Spain were the TOP 8 in a recent Annual Global Retirement Index from International Living.

Vacationing in a new country, state or city is very different from living in one full time. The realities of your daily existence place an entirely different set of demands to navigate. Culturally, two areas even within the US can have very different customs and culture. What does it take to apply for a driver's license? Need that plumbing item repaired, who do you call? Does the food agree with you? What about a dentist, doctor or specialist? What are the tax policies for foreigners and can they change over time? Will friends and family visit? Is a 100% sunny, hot 10-day vacation the same as a sunny 365 days? How will you socialize and with whom? Will you relate to the people and vice versa? Do you wish to be around expats and not mingle with the locals?

Housing-wise, older generations seeking smaller, more affordable homes after selling their larger homes won't help resolve the growing demand for starter, smaller first-time buyer homes as both demographics are seeking a very similar product (minus the need for schools)!