Married for 37 years and approaching retirement, Dorsie and Dan Schmitz found themselves worried about U.S. politics and their own finances. They owned a large house on a 31-acre spread, in the rural, no-stoplight town of Blanchard, Michigan (population 3,100), an hour north of Grand Rapids. The cost of living there is 20% below the national average, but they wanted a different lifestyle, one they weren’t sure they could afford in the U.S. Moreover, as an interracial couple with a liberal bent, they didn’t like much of what they saw happening politically on a national level. “We couldn’t find the kind of life we wanted in the U.S.,” says Dan, 63, a former telecom operations manager.

The couple considered moving to Portugal, Greece, France and Thailand—all on Forbes’ list of The Best Places To Retire Abroad In 2026. But Thailand was too humid, Dan says, and the others didn’t match the combination of low costs (half those in the U.S.) and atmosphere they found in another of our picks: Albania, the small (population 2.4 million) Mediterranean country that didn’t shrug off Communist rule until 1992. So in April, the Schmitzes moved to Vlorë, a seaside town of 78,000, where they pay just $1,100 a month for a three-bedroom apartment near the Lungomare Promenade, a lively three-mile long café-studded walk along the Adriatic Sea. Their one-year tourist visa gives them plenty of time to look around and decide whether to apply for a longer stay.

The Schmitzes are part of a growing trend: More Americans are retiring abroad in search of lower costs, a different lifestyle and often a friendlier political vibe. As of the last official count (from the end of 2024), 712,000 Americans received Social Security benefits abroad, up 20% over 13 years. But many more, surveys suggest, are giving it serious consideration these days.

It’s a big step, requiring extensive research, flexibility and a certain adventurous spirit. That’s why many would-be expats try out a place for a vacation or short-term stay first. But the Schmitzes made a clean break, selling their Michigan house and all its possessions. Dorsey, 66 and retired from a career in retail cosmetics, says they figured: “If we’re going to do it, let’s go all the way.” What about their two grown children and three grandkids back in the States? “They can visit,” Dan says.

To help those contemplating a foreign move get started, Forbes has picked 96 attractive retirement locales in 24 different countries on five continents. Twelve of the 24 countries are European. Two on the list are first-timers: Mauritius and Vietnam (the only still-Communist country on the roster).

Got questions? Join us on Wednesday, August 5, at 12 P.M., ET for a Forbes members-only event on living, working and retiring abroad.

The good news is that countries on this list don’t seem to hold Trump’s anti-immigration, pro-tariff rhetoric against individual Americans wanting to retire there. Instead, they generally see U.S. retirees—assuming they have enough assets or retirement income—as an economic plus. One of the hardest places on this list to win permanent residency is in neighboring Canada, which (in a policy that predates tensions with the Trump Administration and is designed to limit government healthcare costs) makes it hard for retirees without family connections to move full-time to Canada. But it remains on this list because it moved recently to define family connections far more liberally. The Great White North also allows other Americans to spend six months a year in the country, although private health insurance is advised. Living costs in Canada are only a tad lower than in the U.S., making this an option primarily for better-off retirees, who can maintain two homes.

But for many of the other countries on our list, the financial savings are persuasive, led by lower housing and healthcare costs. Some countries even have a relaxed ban against “working” retirees that allows “digital nomads” to stay and work remotely for a year or two while checking out retirement options.

In making our choices, we took into account the relative cost of living; taxes (rarely a bargain, but manageable); healthcare quality and costs (Medicare can’t be used abroad, but medical care and insurance usually are much cheaper outside the U.S.); ease of getting back to see relatives; crime and political instability; and social isolation, especially if English isn’t widely spoken and you’re not fluent in the dominant language. (Not every foreign country on this list is like Belize, Canada, Ireland, Malta or Mauritius, where English, de facto or de jure, is an official language.) We also considered how hard it is to get permission to stay in a country for an extended period of time.

This list also takes into account climate change and natural hazard risk abroad. That’s the main reason why the Philippines and Indonesia aren’t on the list. These Pacific Ocean island-nations remain No. 1 and 2 (the worst) by a wide margin among 193 countries on the latest World Risk Report compiled under the auspices of the United Nations. (The U.S. comes in at No. 20.) The ongoing wildfires and heat in Spain and France have been getting a lot of attention. But less than 1% of the land mass in each country has been scorched. Still, this underscores the need to do careful research going forward. We removed our recommendations for wine-country mecca Bordeaux, France; and several places in Spain, including the Costa del Sol.

You can read additional pointers, information on our data sources, and case studies on how others made their decisions to move abroad here.

If a foreign move isn’t your speed, but you’re still looking for lower costs, these are the best 25 spots in the U.S. for quality retirement living at a reasonable cost. If amenities matter more to you than saving money, take a look at our list of the top 25 places in the U.S. for enjoying your retirement by following a passion.

Our country picks are listed alphabetically below, with four locales within each that are worth considering.

Inexpensive Mediterranean-climate country with grand views

Locations: Tirana, Durrës, Sarandë, Vlorë,

Living Costs: Far lower than U.S. average

Healthcare: Adequate, but getting better

Gaining Right to Stay: Relatively easy

The last Communist country to fall in Eastern Europe, Albania is now a NATO member. It lines the east side of the Adriatic Sea across from the heel of Italy. The self-styled Land of Eagles has a Mediterranean climate, scenic beaches and mountains, and a cost of living half the U.S. average. Crime is low and the government is reasonably stable (although a plan involving Trump son-in-law Jared Kushner to build big luxury projects along the Adriatic Coast has stirred growing protests). Healthcare is inexpensive by U.S. standards, adequate and getting better, but some patients still prefer to use specialists in Italy or London. Private health insurance is a must. English is spoken, particularly by younger Albanians, but not everywhere, and Albanian, which has 36 letters, can be difficult to learn. There is no tax treaty with the U.S. barring double taxation, but Albanian tax rates are low and the U.S. foreign tax credit helps a lot. A U.S. retiree can stay in the country as a “tourist” for a full year, plenty of time to work on gaining longer permissions. One-year visas allowing working digital nomads (called a “Unique Permit”), another route to an indefinite stay, are available and can be renewed five times. Next step is a D Long Stay Visa, leading to a retirement visa. For a couple, that requires a showing of about $20,000 in annual pension income from outside the country. On the downside, flights to the U.S. require a stop or change somewhere. Storm flooding can be a problem. Popular retirement locations include the capital Tirana, and the coastal towns of Durrës, Sarandë and Vlorë.

South American country with terrific scenery and heady blend of European and Latino cultures

Locations: Buenos Aires, Cordoba, Mendoza, Rosario

Living Costs: Far lower than U.S. average

Gaining Right to Stay: Relatively easy, but strict rules

South America’s second-largest country offers beautiful scenery and a diverse European-tinged culture with a wide range of reverse-season weather. Cost of living is about half the rate in the U.S., while the serious crime rate is similar. Health care is among the best in South America, especially in the larger cities, and far cheaper than in the U.S., but private insurance is a must. Knowledge of Spanish is very helpful. Argentina ranks in the top third of countries with the least climate risk, although flooding can be a problem. There is no tax treaty with the U.S., but Social Security and foreign pensions generally are not taxed in Argentina, and the U.S. foreign tax credit helps. Argentinian marginal personal income tax rates top out at 35%. One-year renewable Pensionado (retirement) or Rentista (independent means) visas are available to U.S. retirees showing at least $24,000 in annual income. Required paperwork is exacting. Nonstop flights to the U.S. take about 10 hours. Popular retirement spots include Buenos Aires, the capital; the historic town of Cordoba; the wine capital of Mendoza; and the inland port of Rosario.

A lot to offer, but some initial knowledge of German required by law

Locations: Vienna, Graz, Innsbruck, Salzburg

Living Costs: Overall, about the same as U.S.

Healthcare: Excellent

Gaining Right to Stay: Difficult but doable, and must speak some German

With a rich culture and beautiful terrain, land-locked Austria provides an appealing setting for retirees. Cost of living is about the same as the U.S. average, but it breaks differently: Housing and healthcare costs are lower, while groceries and eating out are higher. Serious crime rate is low, and politics are stable. Health care is excellent and affordable; it’s possible to eventually enroll in the national health system. Natural hazard risk is considered low. Plane rides to the U.S.........

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