Expat Exchange Community
7 years ago
"Best' country to retire in? OR, 'best' country to grow old in?
7 years ago
If you Google for 'best country to retire in', you find all kinds of articles and blogs purporting to give lists of the 'top ten' etc. Seems like there is no problem finding advice on where to move to when you retire.
But looking at them, you will see that they invariably put cost of living as the primary factor and give it a weight that exceeds any other factor by a large margin. In doing so, they invariably reduce the weight of things like healthcare, crime, public transportation, etc. Yet those are also the things that most retirees will ask about when considering a country to retire to.
Thinking about it, it occurred to me that really, the wrong question is being asked and answered. When you get to retirement age, what you should really want to know is where is the best country I can move to and GROW OLD in? That is an entirely different question!
In fact if you Google, 'best country to grow old in', you will find a list. What's more it will differ considerably from the lists of 'best to retire in'.
Here are the best countries to 'grow old in':
http://www.helpage.org/global-agewatch/population-ageing-data/global-rankings-table/
Compare that list to the list of 'best to retire to' list by International Living, an often quoted source.
https://internationalliving.com/2016/01/the-best-places-to-retire-2016/
As an example, consider 2 countries that are popular right now with N. American retirees (most of those posting in this forum are N. Americans). Panama and Costa Rica.
On the 'best to grow old' list they rank 20th and 28th respectively. On the 'best to retire to' list they rank 1 and 4 respectively!
That shows a HUGE disparity between how one list is ranking based on criteria vs the other.
Now obviously, 'best' is a subjective word and will differ by individual. For example, if you can't afford to live in a country or can't get legal residency, it doesn't matter which country that is. 'Best' for you may have to be a country that ranks a bit lower in any list since you have to be able to afford it and get legal residency to live there in the first place.
But my point is that while most people do Google 'best place to retire' when looking at potential countries, most do NOT Google, 'best to grow old in' and I believe they SHOULD be.
For me, the 'best place to retire' would also be the 'best place to grow old in' that I can legal reside in and afford. When you consider the age at which most people retire and what lies ahead of them, what should be more important than being in the best place they can be in to 'grow old in'?
Consider 2 other popular countries to retire in, Portugal and France. In the 'best to grow old in' list they rank 38th and 16th respectively. In the 'best to retire' list they rank 10th and 13th respectively.
So what that tells me is it's a fair bit better to grow old in France but Portugal is a little cheaper. I'd take a fair bit 'better to grow old in' over a 'little cheaper', assuming I could afford to live in France.
Looking at those two lists TOGETHER and seeing the trade-offs makes a whole lot of sense to me. Looking only at 'best to retire' does NOT make sense to me. IF I were only going to look at one list, it would be 'best to grow old in.'
But looking at them, you will see that they invariably put cost of living as the primary factor and give it a weight that exceeds any other factor by a large margin. In doing so, they invariably reduce the weight of things like healthcare, crime, public transportation, etc. Yet those are also the things that most retirees will ask about when considering a country to retire to.
Thinking about it, it occurred to me that really, the wrong question is being asked and answered. When you get to retirement age, what you should really want to know is where is the best country I can move to and GROW OLD in? That is an entirely different question!
In fact if you Google, 'best country to grow old in', you will find a list. What's more it will differ considerably from the lists of 'best to retire in'.
Here are the best countries to 'grow old in':
http://www.helpage.org/global-agewatch/population-ageing-data/global-rankings-table/
Compare that list to the list of 'best to retire to' list by International Living, an often quoted source.
https://internationalliving.com/2016/01/the-best-places-to-retire-2016/
As an example, consider 2 countries that are popular right now with N. American retirees (most of those posting in this forum are N. Americans). Panama and Costa Rica.
On the 'best to grow old' list they rank 20th and 28th respectively. On the 'best to retire to' list they rank 1 and 4 respectively!
That shows a HUGE disparity between how one list is ranking based on criteria vs the other.
Now obviously, 'best' is a subjective word and will differ by individual. For example, if you can't afford to live in a country or can't get legal residency, it doesn't matter which country that is. 'Best' for you may have to be a country that ranks a bit lower in any list since you have to be able to afford it and get legal residency to live there in the first place.
But my point is that while most people do Google 'best place to retire' when looking at potential countries, most do NOT Google, 'best to grow old in' and I believe they SHOULD be.
For me, the 'best place to retire' would also be the 'best place to grow old in' that I can legal reside in and afford. When you consider the age at which most people retire and what lies ahead of them, what should be more important than being in the best place they can be in to 'grow old in'?
Consider 2 other popular countries to retire in, Portugal and France. In the 'best to grow old in' list they rank 38th and 16th respectively. In the 'best to retire' list they rank 10th and 13th respectively.
So what that tells me is it's a fair bit better to grow old in France but Portugal is a little cheaper. I'd take a fair bit 'better to grow old in' over a 'little cheaper', assuming I could afford to live in France.
Looking at those two lists TOGETHER and seeing the trade-offs makes a whole lot of sense to me. Looking only at 'best to retire' does NOT make sense to me. IF I were only going to look at one list, it would be 'best to grow old in.'
