The Most Ideal Places to Retire To

There has been a trend recently in expats in which expats are deciding to travel and live abroad in their retirement. This also includes expats who have made a considerable sum of capital while they were working. While many expats try to save money while they are retiring, there are certain destinations that are catered towards an expat that has more money in the bank as they are moving abroad for their retirement.

When contemplating where to retire, it is wise to look into which place will provide the highest quality of life for your individual budget. Consider the following tips when deciding where to take your small fortune and enjoy your retirement:

The Ideal Places to Retire with No Budget

France: France is full of ideal places to enjoy tranquility paired with sensational food and gorgeous architecture. In fact, many expats neglect France when considering where they can and should reside as they enter retirement. It is crucial to consider the value of France when one does not have a strict budget. From gorgeous theatre performances to gourmet cuisine, one can enjoy a very high quality of life in France as a retiree with a lot of capital.

Thus, be sure that you do not neglect France because it is quite easy to find exquisite real estate to enjoy with the possibility of travel throughout France and Europe as well.

Chile: Chile is a very expensive country to live in when one does not have capital. That being said, Chile offers the best of all worlds as destination for retirees that have money to spend. Chile has luxury skiing, gorgeous sites in Patagonia, beaches, deserts, and wine vineyards.

The country truly has it all and is also an option for extensive travel to the picturesque landscapes that exist in South America. Lastly, Chile has a very streamlined and efficient process for immigrants and has better economical and political stability than the majority of options in Latin America.

Bermuda: Bermuda is surely a luxurious place to retire; however, it takes a substantial amount of capital to retire in Bermuda with ease. That being said, Bermuda is conveniently situated on the Caribbean, which makes it a great place to acquire property and live well in the warmth while retiring. With a great deal of capital, there are many excellent real estate finds to enjoy while living in Bermuda.  Lastly for those expats that speak English, Bermuda is a great place to relocate for retirement due to the high level of English that is spoken there.

How Money Transfer Companies Can Be of Assistance

Particularly for individuals with a great deal of capital, moving money via banks could be very expensive. The most crucial fee is the markup (buy / sell differential) and it is relative to the amount transferred. At 1% markup, moving a million dollar abroad mean $10,000 in fees (And some banks would happily charge more than 1% even on large transfers).

Even if one is wealthy, they should still be looking at what they spend on transferring money. In fact, many individuals would be shocked to see the price tag on moving money to foreign jurisdictions due to the amount of money and the frequency in which they are transferring it. Utilizing money transfer companies can be quite beneficial to individuals who have a high net worth because it can get them away from dealing with banks.

The personalized customer service alone is an enormous asset for these high net worth individuals to consider because the amount they will save will be equivalent to high price tag items in the long-term if they are moving high amounts of currency regularly. Lastly, money transfer services help the individual who does have a lot of money learn more about the process of moving money and moving money smartly. This information is vital to those who are considering retiring in foreign jurisdictions when they have a substantial amount of capital in their home country that they need to move to their new expat retirement locale of choice.

Final Thoughts 

What is important to remember for individuals that are considering retiring abroad that have a substantial amount of capital is that it is still beneficial to consider the value of saving money as they transition abroad. Even if these individuals choose to reside in very expensive locations, there is still a great deal of potential to save a lot of money when relocating abroad. This money can be put towards other future real estate investments, for example.

Thus, be sure to contemplated desired location and then think pragmatically about how to transfer your assets there in the most economical and efficient way possible. It is through thinking in this manner that you will be able to allow your money to go as far as possible while living a very high quality of life in the process.

Blogger-in-Chief here at RetirementSavvy and author of Sin City Greed, Cream City Hustle and RENDEZVOUS WITH RETIREMENT: A Guide to Getting Fiscally Fit.


  1. I was just thinking about this topic and how do expats manage to move money when in FI. I know a lot of people reside in Ecuador for several months and exchanging money can get costly if you do not have the right system in place. Will do more research and write about this topic.

    • Looking forward to your take on the topic, my friend.

  2. I think it is fun to dream of the “price is no object” for anything. Realistically everyone has to do what’s best for themselves. I retired early in another country purely because I could. If I had to continue living in the US, I would still be working.

    I agree Peru is very economical but I think Ecuador and Colombia have much more to offer and greater upside potential for investment.

    James, what’s new? We need to catch up.

    • Not a lot is new with me, my friend. Just plugging along, drawing ever closer to retirement. Glad to see you stopping by and adding to the conversations; and good to hear the voice of an expat and get a unique perspective.

  3. Both strike me as appealing. May have to give both a closer look. Thanks for stopping by and sharing your thoughts, my friend.

  4. Chile may be expensive but neighboring Peru is extremely cheap. I recently traveled to Peru and recommend visiting or retiring for it’s costs, friendliness, and natural beauty.

  5. Have you played with The Earth Awaits? It is my favourite website to fantasize about where in the world I might possibly retire. Just tons of cool features (and more on the way – the developer is very active) and a very pleasing UI.

    • I have not had a chance to check out The Earth Awaits, but I plan to. Thanks for bringing it to my attention.

  6. I’ll be very frugal in retirement. Engineers around me don’t seem to make much or get pensions. Chile and Bermuda sound nice. I’ll be looking for low cost of living.

    • Indeed. Choosing a low cost location is a great way to minimize expenses and help your retirement dollars go further.

  7. Bermuda would be my pick of these three. Strictly from a climate perspective, never having winter is huge.

    • Great to hear from you, my friend. Agreed, give me the sunshine!

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