Where to retire is a big decision, but it’s even more difficult for veterans and retired military personnel. While most people look at retiring as a way to relax for the rest of their lives, veterans see it as a way to reintegrate themselves back into civilian life. It can be really hard to choose where to live when everywhere is on the table including health and economic resources, and overall quality of life.

Before you begin your list of ideal homes, there are many factors to consider. You can’t move just anywhere. Being in the military gives special benefits that you can’t get from being a part of any other group—the VA system being one of them. However, some states offer better help than others and these are the best states to consider.

We made a list of the best and worst places for a veteran to retire based on a study by WalletHub detailing the best and worst states for military retirees. Factors considered for the ranking were economic environment, quality of life, and healthcare. Some states looked like shining stars while others…well, they look like a pile of garbage. If you are a military retiree, these are the top places to consider, and the rest, to avoid at all costs.

Best: Virginia

Virginia is beautiful, but there are more benefits for those who have served. In this state, veterans on disability are exempt from property tax on their homes. Surviving spouses may also be eligible. On top of that, the state also has great education benefits for dependents and survivors.

Finally, Virginia has the highest incomes for veterans and a preference for state jobs. Virginia ranks seventh in economy & environment, fifth for quality of life, and 12th in VA healthcare. With statistics like this, it’s no wonder why this state definitely deserves to be on the list, right?

Worst: Vermont

We gotta admit — we didn’t see this state being on the worst list. Vermont has a few problems it needs to address. The biggest is that Vermont has the highest suicide rate in the nation for veterans and military personnel. That could be because the quality of healthcare (including mental help facilities) is pretty poor.

According to VTDigger, Vermont’s veteran suicide rate is 88.7% higher than the national average and 138% higher than other states in the area, including New England, New Jersey, New York, and Pennsylvania. The state of Vermont ranks 33rd in quality of life, drops to 18th in VA healthcare, then plunges to 51st in economic & environment.

Best: Florida

Florida has the third-largest veteran population. Veterans with disabilities are eligible for property tax exemptions. On top of that, Florida does not tax personal income offers, education avenues, and numerous job options. Then there’s the warm climate, which encourages people to get out. Fun in the sun is no joke in Florida.

Florida truly has a community that values and supports veterans. Florida ranked tenth in economic & environment, fourth in quality of life, and 24th in VA healthcare. It makes sense why Florida is one of the best places to retire for anyone, whether they’re a veteran or not!

Worst: Nevada

At first glance, Nevada can look pretty appealing. It does have tax exemptions for veterans and surviving spouses, but there are a number of reasons this state is on the “worst” list. The most notable offender is that there aren’t any job opportunities for veterans. Those who move there have to jockey for a position.

Due to low opportunities, there is an astounding number of homeless veterans in the state. According to WalletHub, a jaw-dropping 37% of the veteran population is homeless in Nevada. Nevada ranks 33rd in economic & environment, drops to 46th in quality of life, then plunges again to 49th under VA healthcare facilities, and lacks employment and training opportunities.

Best: Minnesota

The state of Minnesota offers property tax exemptions for veterans and those in the military. It’s also one of the states that don’t tax retirement pay. What makes this state unique is that it has a subsistence program for veterans, which offers short-term financial assistance on housing, utility, insurance, and other expenses.

Minnesota also has the Veterans’ Preference Act, which gives vets preference in hiring and promotions for state jobs. Finally, veterans, their spouses, and their dependents are given tuition assistance. This state ranked 17th in economic & environment and ranks second in VA healthcare.

Worst: District of Columbia

The District of Columbia has the largest population of homeless veterans in the nation. As if that weren’t bad enough, the state is tied with Colorado for the least number of job and educational opportunities for military veterans. Located just down the road from the United States Capitol in Washington DC is the Washington VA Medical Center. Once again, it is rated the worst in the nation.

This facility has a one-star rating, which puts this VA facility at the bottom. A decorated military veteran representing a veteran service organization commented: “Washington VA Medical Center should be a paragon, a place to take foreign heads of state to tour; instead, it’s one of the worst in the nation.”  The District of Columbia ranks 38th in economic & environment, slips to 49th in quality of life, and remains at 41st in VA healthcare.

Best: Maryland

Military retired pay tax exemptions, education and tuition assistance, employment services, special military vehicle tags, and hunting and fishing license privileges are just a few of the specific benefits that Maryland provides for Service members, Veterans, and their Families.

(Image via Upsplash)

Veterans who are totally and permanently disabled due to circumstances related to their service are exempt from paying property taxes on their primary residence as well. Maryland ranked 19th on economic & environment, first in quality of life, and 19th in VA healthcare.

Worst: Oregon

In the state of Oregon, military veteran retirement pay may qualify for a federal exemption on state taxes. Veterans considered “special case” Oregon residents will have their military retirement pay taxed as regular income.

A high percentage of veterans in Oregon are homeless due to having one of the least affordable housing rates in the nation and a lack of economic opportunity. Oregon ranks 26th in VA healthcare, then slips to 27th in economic & environment, then slips further down to 51st in quality of life.

Best: New Hampshire

New Hampshire has a lot to offer veterans that are looking for a new start. First of all, veterans are eligible for property tax credits. They’re also given preference for city and district jobs to increase employment opportunities. Like other states, New Hampshire has a high number of veteran-owned businesses.

For dependents, this state offers free tuition for state universities to children of military members who have passed while in service. New Hampshire ranked eighth on economic & environment, and quality of life ranked eighth, but VA healthcare isn’t as good as some of the others on the list.

Worst: Washington

Given that Washington has the sixth-largest active-duty military presence in the country, with more than 60,000 service members, 90,000 dependents, and 19,000 reservists, according to the Washington State Department of Commerce, the state’s low ranking may come as a surprise. 

(Image via Upsplash)

Have heart though the state offers property tax exemptions, state hiring preferences, home loan aid, social services, benefits associated with vehicle licensing, and privileges to hunt and fish are all provided by Washington State. Washington ranks 35th in quality of life, then slips to 43rd in economic & environment, then slips further down to 46th in VA healthcare.

Best: Alaska

Alaska has the most military veterans, with 13% of the population being veterans. This is the only state where the veteran population does not expect to shrink but grow significantly. Alaska offers tons of benefits, such as land discounts and land purchase preference, housing and residential mortgage programs, and property tax exemptions.

In addition to all this, veterans also get military credit for state retirement, state employment preference, waiver of the commercial driving skills test, and free tuition for surviving spouses or dependents. No wonder it’s so beloved by veterans! Alaska ranked fifth in economic & environment, sixth in quality of life, and 29th in VA healthcare.

Worst: New Mexico

New Mexico has a lot of problems. In general, it has a low median family income and a high violent crime rate. For veterans, it doesn’t get much better. Health care, in particular, is bottom-of-the-barrel. The main VA Medical Center in Albuquerque may be responsible for around 58,000 patients, but it’s among the lowest-ranking VA hospitals in the country – according to Albuquerque Journal.

New Mexico is also not taking steps toward fixing its ranking. It’s been on the list of worst places for several years now. Since there are so many other options, just look elsewhere. New Mexico ranks 26th in quality of life, then drops to 40th in VA healthcare facilities, and plunges to 48th in economic & environment.

Best: South Carolina

Veterans looking to start their own business might want to check out South Carolina, it came in first place for the highest percentage of veteran-owned businesses. Another plus is the low cost of living. Active duty pay is taxable, but reserve and National Guard pay are tax-free. Up to $11,700 of retired pay is tax-free, and if you are 65 or older, that amount increases to $24,000. Permanently and totally disabled veterans are eligible for a homestead tax deduction, and a total exemption of property tax on their homes. This exemption can transfer to a surviving spouse and may also transfer to a new home.

South Carolina offers veterans a preference for state and public jobs. The state provides free tuition for children of fallen heroes, as well as permanently and totally disabled veterans. South Carolina ranks third in quality of life, 26th in economic & environment, and 22nd in VA healthcare.

Worst: Mississippi

The state of Mississippi’s two VA hospitals ranks as some of the worst in the nation. The state also has a lack of economic, education, and job opportunities for veterans and military families.

The only thing Mississippi has going for it is that it has the fewest number of homeless veterans in the nation. While that’s great and all, veterans still need quality medical care. Mississippi ranks 22nd in economic & environment, drops to 32nd in quality of life, then drops again to 50th in VA healthcare.

Best: Maine

Maine is best known for its delicious seafood, but it has more than just lobster. In Maine, veterans are eligible for property tax exemptions. They can also get a waiver of tuition at state universities for themselves and their dependents.

One of the best things about this state is that it boasts that 10.5% of private businesses are veteran-owned. Maine also doesn’t tax military retirement pay, but it does have a state income tax. The economic & environment in Maine ranks 14th, while VA healthcare is ranked sixth.

Worst: California

Sand Dog has to be great for vets to retire out of, right? Wrong. According to the Legislative Analyst’s Office in California, 7.5 percent of California’s veteran population was below the poverty level, compared to 14.3 percent of Californians overall. This state has the largest population of sheltered homeless veterans at roughly 16 percent of the total population across the United States.

(Image via Upsplash)

With high housing prices, lack of housing, and low job opportunities it’s no wonder this state ranks so low for vets. California ranks tenth in quality of life, 50th in economic & environment, and 17th in VA healthcare.

Best: South Dakota

South Dakota is one of the most beautiful states in America, and it has nice benefits for those who served. Disabled veterans in South Dakota can enjoy property tax exemptions. It also gives a $500 bonus for current or former military members who remain as residents for six months.

South Dakota offers employment preference for all state, county, and local jobs, as well as free tuition for veterans and their families. South Dakota ranks ninth in economic & environment, ranks seventh in VA healthcare, but drops to 24th in quality of life.

Worst: Rhode Island

In this state, over 7.7% of veterans are unemployed as opposed to the 2.9% of the state overall. This coupled with the high housing prices makes it a rough place for veterans looking to retire. While the fresh air and being in striking distance of many large cities might seem like a great idea at first it might be best to look elsewhere.

(Image via Upsplash)

Rhode Island has an abysmal ranking in quality of life coming in at 45th. For job opportunities, they come in at 40th in economic & environment. For VA healthcare, they come in at 20th.

Best: Connecticut

Veteran students in Connecticut can take advantage of generous scholarship options. Veterans with at least 90 days of active duty and an honorable discharge are entitled to full tuition at public colleges and universities in Connecticut for the academic year. 

(Image via Upsplash)

Veterans who served in the military for at least ninety (90) days, including in the Merchant Marines during World War II, are entitled to a $1,500 exemption on property taxes. You can choose to apply this exemption to either your real estate or vehicle taxes. With such great opportunities, it’s no wonder vets love this state. Connecticut ranks 27th in quality of life, 42th in economic & environment, and first in VA healthcare.

Worst: Iowa

Veterans in Iowa commit suicide at a rate that is more than 50% higher than the state average. 7.6 percent of Iowa’s population are veterans. Among the veterans, 5.7 percent live in poverty, and many of them are homeless. It might come as no surprise that a middle-of-nowhere state has poor VA health care as well. 

(Image via Upsplash)

The Iowa City VA stated that 232 veterans had been waiting between one and two years, while 537 veterans wait as long as 91 and 180 days for a clinical visit. Iowa ranks 34in quality of life, 36rd in economic & environment, and 38th in VA healthcare.

Best: North Carolina

Veterans who have been determined to be totally and permanently disabled by the US Department of Veterans Affairs are eligible for the Disabled Veterans Property Tax Exclusion. In this state, veterans and their families are eligible for exemptions from property taxes, state employment favors, and financial aid for education and tuition.

(Image via Upsplash)

To add the first $45,000 appraised value of a vet’s home is exempt from taxation. North Carolina ranks 14th in quality of life, fourth in economic & environment, and 30th in VA healthcare.

Worst: Illinois

It may come as no surprise to some that this state comes in low for veterans. With VA wait times at clinics being long, housing prices skyrocketing, and education and job opportunities low; many vets are strikingly aware of how poor this state is to retire in. Vets travel through this region often when coming or going to a station while on active duty. 

(Image via Upsplash)

Alas, Illinois veterans make up only 5.7% of the total population. This is among the lowest density of veterans of all states. The voices this state needs to listen to are there. The state is just not listening. Illinois ranks 43rd in quality of life, 37th in economic & environment, and 23rd in VA healthcare.

Best: Alabama

Alabama provides unique advantages to service members, veterans, and their families, including state tax breaks, exemptions from property taxes, a tuition scholarship program, financial aid for education and tuition, vehicle tags, preference in hiring for state jobs, and privileges for hunting and fishing licenses. Residents of Alabama who are over 65, blind, or totally disabled are eligible for a homestead exemption from all state, county, and city property taxes. Amazing!

(Image via Upsplash)

Alabama currently represents 1.4% of the total businesses and 1.8% of the total Veteran Owned Businesses in the United States. 11.8% of the total number of businesses in Alabama are majority-owned by veterans which is nearly 31% higher than the national state average of 9.04%. Alabama ranks 16th in quality of life, second in economic & environment, and 44th in VA healthcare.

Worst: Ohio

Ohio largely only honors vets that are majorly disabled or surviving dependents. Many states, unfortunately, do that. It will come as no surprise that a state that asks their young to give up their youth to serve, is perfectly comfortable only honoring them if they come back severely injured or dead. 

(Image via Upsplash)

Hey though, there are camping perks here, so if you end up homeless at least you can pitch a tent. The suicide for male veterans in Ohio is 42%. Nearly half of all male vets in this state kill themselves. This is a sad reality for some of those that took up the torch to stand watch. Ohio ranks 42nd in quality of life, 41st in economic & environment, and 11th in VA healthcare.

Best: Hawaii

Many veterans enjoy this state very much. Hawaii exempts veterans with complete disabilities from paying property taxes. The State of Hawaii may grant up to $5,000 to qualified veterans who are totally disabled for the purpose of buying or upgrading a property to make it more accessible for people with disabilities.

(Image via Upsplash)

They have a rehabilitation center for vets, tuition assistance, fancy license plate, hunting, and fishing permit discounts, and unlike many other states, they offer a burial plot. Hawaii ranks 22nd in quality of life, 23rd in economic & environment, and eight in VA healthcare.

Worst: New York

Something is going on in New York. The state of New York has the least military veterans in the nation. However, the state boasts the most VA healthcare facilities for veterans. Unsurprisingly, the state ranks third in VA healthcare, but what about the rest of it?

Economically, New York property taxes are among the highest in the nation. The state has the lowest percentage of veteran-owned businesses. Overall, it’s extremely expensive to live in the state, so veterans often have a hard time affording it. New York ranks 48th in quality of life and plunges to 49th in economic & environment.

Best: Massachusetts

Massachusetts has a lot to offer veterans. Those who have served receive tax exemptions for their vehicles, and disabled vets don’t have to pay sales tax. The tax benefits keep rolling considering Massachusetts also doesn’t tax retirement pay, although it does have a state income tax.

Finally, property taxes are exempted for disabled veterans. For children of vets, there is a tuition waiver in all state universities and colleges. Massachusetts ranks 18th in economic & environment and ranks fourth in VA healthcare. However, the state can be quite expensive for some.

Worst: Georgia

Two veterans killed themselves during the course of a weekend in Georgia’s Dublin and Decatur VA hospitals, garnering widespread media attention. In his room at the Georgia War Veterans Home in Milledgeville, a third veteran committed suicide a few weeks later.

(Image via Upsplash)

In Georgia, there are over 30 veterans who commit suicide for every 100,000 people, and this rate is rising. In this state, the unemployment rate for veterans is 4%. Yes, they absolutely tax military retirement pay. Thank you for your service, we will now tax the money we pay you in from taxes. Georgia ranks 23rd in quality of life, 15th in economic & environment, and 48th in VA healthcare.

Best: Utah

Utah is a terrific place for veterans for a variety of reasons. The first thing we want to point out is that Utah used to not provide any unique tax incentives for retired military personnel. However, a new tax credit is available for military retirement salary as of the 2021 tax year. Ivins, Ogden, Payson, and Salt Lake City are the locations of the state’s other four veteran homes.

Members of the reserve and active duty who have served for at least 200 days may be eligible for a complete exemption from real estate taxes. They also provide access to the Bluffdale state veterans cemetery. Utah ranks first in economic & environment, 31st in quality of life, but plunges to 42nd in VA healthcare.

Worst: Colorado

Despite the presence of five military facilities in the Colorado Springs region, there are now more homeless veterans on the streets than there were ten years ago. Veterans who are homeless makeup roughly 30% of the homeless population in this state, according to PPCoC. Veterans account for almost one in seven suicides in Colorado, and their unemployment rate is at 4%.

(Image via Upsplash)

This state ranks last on our list because of all of the above, as well as the additional disadvantages of a lack of employment and educational opportunities and subpar VA care. Colorado ranks 20th in quality of life, 45th in economic & environment, and 25th in VA healthcare.

The Cheapest and Safest Places to Retire Outside of the U.S.

Choosing where to retire can be tough to figure out. There are so many options, and the cheapest options aren’t always the safest. In fact, sometimes it seems like the two considerations couldn’t be further apart. Well, not for every country. Some actually are cheap and safe!

We forget about these places, but as a retiree, every area needs to be heavily considered. We listed some of the more important things to keep in mind, like healthcare and the cost of living. The sources we pulled from include Investopedia, Vision of Humanity, Expatra, and Smart Asset, as well as bloggers that live in the country being discussed.

While there are pros and cons in this listicle, we highly suggest any retiree do their own research before booking a plane ticket. Sometimes the immigration process can be difficult, which isn’t something you want to find out after being in the country for four months!

Ireland — Pros

With a Global Peace Index (GPI) of 12 out of 163, Ireland is widely considered a safe and friendly destination for expatriates. What’s more, with careful financial planning and attention to healthcare costs, it is possible to retire in the Emerald Isle on an annual budget as low as $30,000 USD—but potential ex-pats should be aware that one must sacrifice some luxuries or amenities by living in smaller, less expensive towns.

Healthcare remains top-notch in Ireland, regardless of whether one is an EU citizen or not; however, non-EU citizens will need to purchase healthcare in two parts. In summary, Ireland offers retirees safety as well as cost-effectiveness, making it an attractive option for anyone seeking to start their next chapter abroad.

Ireland — Cons

Living in Dublin, Ireland can be a stunning experience if one takes the time to appreciate the rich cultural and natural heritage that is on offer. However, the sad fact remains that much of what makes Ireland attractive is not cheap, and the cost of living at times can be extremely high. A retirement income simply isn’t going to stretch very far in the hustle and bustle of city life. Even though access to healthcare services is available for all in Ireland, there may be long waiting times for certain medical procedures.

Plus, with fuel prices that are among some of the highest in Europe, trying to make ends meet can be quite a challenge. Finding affordable property also seems difficult due to the competitive market; it’s no wonder why Irish ex-pats abroad tend to stay away!

Costa Rica — Pros

Costa Rica is growing in popularity as a retirement destination—and it’s not hard to see why. With its 33rd place ranking in the Global Peace Index, enviable climate, and affordable living costs, who wouldn’t want to kick back and enjoy life? Cost of living-wise, Vittana reports that daily expenses come in at around $1,500 per month for an individual retiree.

Additionally, you can access universal healthcare with government subsidies known as Caja — the payment of which depends on your income. It covers all essential medical needs from doctor’s appointments and medications to surgeries and more — so retirees don’t need to worry about going without the healthcare they need. All things considered, Costa Rica is perfect for ex-pats looking for a peaceful retirement full of luxurious affordability.

Costa Rica — Cons

One of the main drawbacks to choosing Costa Rica for retirement is that it can be hard for budget-conscious individuals to live within their means. The cost of living in cities can quickly add up, and relying on imported goods from elsewhere is rarely an option due to the hefty import taxes.

Moreover, retirees may find themselves without high-quality public healthcare in emergency situations. Though excellent private healthcare options are available, they come at a hefty price tag and extended waiting times before being seen by a doctor at public hospitals.

Australia — Pros

Australia may not have the lowest GPI ranking on the list, at number 13 out of 163 countries, but that doesn’t mean it isn’t a great place to live. With an annual budget of $40,000 for a couple, it’s possible to retire here comfortably, especially if you own your own home and avoid larger cities.

Big city living can be incredibly expensive in Australia; however, life outside the hustle and bustle is peaceful and often significantly more affordable. For retirees looking for relative comfort and many amenities without breaking the bank, Australia just might be the ideal destination.

Australia — Cons

Living in Australia is an incredibly attractive prospect, but it’s important to go beyond dreaming of beaches and sunny days. Denizens of the country’s unique wildlife are often the stuff of legends, readily outwitting any attempts at contrivance – no matter how clever those ideas may be! Retirees should be mindful of purchasing private health insurance when relocating without becoming a permanent resident, as living costs in Australia can be quite steep.

It also pays to plan one’s accommodation carefully, especially when moving in or around big cities: costs can accumulate on a daily basis and shrink savings much quicker than expected. Having a well-planned budget helps mitigate unforeseen expenses related to daily life in Australia.

New Zealand – Pros

New Zealand is a great place to live, offering a high Global Peace Index score of two out of 163. Although it’s on the pricier side, there are several options for saving money. Residing outside the city, in more rural and tranquil areas, is one way to go, with couples commonly living comfortably with $2,500 or less.

Healthcare is another advantage New Zealand can offer to its permanent residents — with many treatments either free or only costing a small amount. All in all, it stands to be an excellent option for those looking for positive lifestyle indicators such as safety and healthcare systems at their disposal.

New Zealand – Cons

Living in the country offers its own unique set of benefits, however, there are reasons why city life might be more suitable for some. Living in the city could provide a better solution for those who want quick access to medical services than in the country. If you’re looking to save money and if you are able to lead a lifestyle without too many frills, it may be possible to keep the cost of living relatively low even in an urban environment.

Many aspects of daily life become more expensive when living abroad, such as traveling to see family or buying imported goods. That is certainly true for New Zealand, where the distance from other countries is a major factor contributing not only to cost but also to time spent traveling. For example, imported food items can be costly due to the added shipping costs associated with their long journey from distant lands overseas.

Uruguay — Pros

Uruguay is a country that many people are finding increasingly attractive as a retirement home. Ranked an impressive 34 out of 163 on the Global Peace Index, it’s one of the most secure places for ex-pats to settle down and enjoy their golden years. Couples can get by with just $2,000 in monthly income, allowing them to live comfortably with access to great weather, friendly people, and reliable infrastructure.

With quality healthcare also being made available at affordable prices, according to Huffington Post, it’s clear why Uruguay is becoming a hotspot for those looking for peace and stability.

Uruguay — Cons

If you’re planning on retiring in Uruguay, it is a good idea to brush up on your Spanish language skills. While locals are very friendly and usually patient enough to help even those struggling to learn the language, some bilingual Texans have reported difficulty understanding. On top of this, the culture in Uruguay is unique and can take some time to get used to.

For example, mealtimes tend to be a bit later than many people expect – most restaurants don’t open for dinner until 7:30 pm! Fortunately, culture shock typically passes with time and exposure — so as long as you accept that everyone communicates differently and embrace the differences Uruguay has to offer, your retirement should be smooth sailing!

Spain — Pros

If you’re considering retiring abroad, it might be worth looking into Spain. With a GPI of 32 out of 163 and a cost of living that varies depending on the location, there can be quite a bit to evaluate. Fortunately, SmartAsset has reported that living comfortably in Spain is possible for $25,000 per year on average.

That said, depending on which city or town you choose to live in, there are bound to be variations in cost — from tenants paying as little as $450 a month outside the city to renters shelling out around $900 in Madrid. On top of that, retirees who become residents of Spain have access to public healthcare.

Spain — Cons

Spain is still a popular destination for retirees, but it is important to understand that there are some disadvantages to living there. For starters, private healthcare can be expensive compared with other parts of the world — about $200 per month per person — and you may not qualify for public healthcare at all. Homeowners, too, should consider carefully the property taxes, which tend to be on the higher side in Spain.

Additionally, the culture itself may have some unanticipated impacts; people who have lived in more fast-paced countries may find it challenging to adjust to Spanish ways of doing things. Important services, such as dealing with government bureaucracy, often take much longer than they would in other locations, and long lines are commonplace. However, many would consider these realities part of life in Spain and feel that the advantages outweigh any of these potential downsides.

Panama — Pros

Panama may not be the safest country on the Global Peace Index (ranking 47 out of 163 countries), but it still offers a secure and stable environment. One of the main draws for people considering relocating to Panama is the low cost of living. According to Investopedia, it’s possible to survive on just $500 USD per month — which would be much harder in most other countries.

On top of that, healthcare options are both plentiful and affordable too — with basic health insurance plans costing around $145 USD a month for couples. With its good value-for-money offering and tranquil settings, it’s certainly worth considering Panama as a relocation destination.

Panama — Cons

If you’re considering a visit or are planning to retire in Panama, there is some important stuff to mention about the country before traveling. The Centers for Disease Control and Prevention recommends that travelers are up-to-date on their routine vaccinations as well as Hepatitis B, Malaria, Rabies, and Yellow Fever vaccinations prior to visiting.

Culturally speaking, Panama is known for taking things at a slower pace than other countries; this could be a great opportunity for someone looking to really slip into retirement mode and relax. Although the tempo of life may be more mellow, it doesn’t mean that there aren’t plenty of exciting activities and sights to explore!

Chile — Pros

Chile is an attractive destination for retirees who are looking for a comfortable and affordable lifestyle in Latin America. With a Global Peace Index score of 27 out of 163, it has the highest standard of living of any country in the region. For those who want to live well but on a budget, $1,500 per month would be enough to achieve that goal.

Plus, residents of countries included in the United States Visa Wavier Program (which Chile happens to be) may easily establish residency in Chile. All these factors combine to make Chile particularly suitable for retirement compared to other countries in the region.

Chile — Cons

Santiago, Chile’s capital, is a great city to visit and enjoy, but retirees should be aware of the cost of living. There are quality medical services available in the city, however, rent and daily living expenses can be quite high. Furthermore, city life comes with traffic congestion and air pollution, like in any other major city.

If living right in Santiago is not absolutely necessary for elderly people, it may be best to consider living somewhere outside the city boundaries and travel into Santiago just when necessary.

Bulgaria — Pros

Bulgaria is a great option for expats looking for a comfortable lifestyle with affordable living costs. According to the Global Peace Index (GPI), Bulgaria ranks 26th out of 163 countries, making it one of the most peaceful and stable countries in the region. An added bonus is the flat tax rate of 10%, which makes it extremely attractive for those looking to save money. Furthermore, DispatchesEurope has emphasized that even with low income, one can live comfortably as a foreigner in Bulgaria; according to them, $500 per month per person should be sufficient.

Lastly, Bulgaria boasts excellent and affordable medical care which provides good quality service while minimizing wait times; all factors considered, it’s no surprise why so many people choose Bulgaria as their ideal destination when living abroad.

Bulgaria — Cons

Moving to Sofia can present some unique challenges for those who are not familiar with the local culture. One of the most pressing concerns is the complexity of purchasing property, as real estate laws vary between countries, and it’s important to know that this process can be difficult in Bulgaria.

Fortunately, renting a residence is still very inexpensive, so many ex-pats choose this option as an alternative. Another benefit of being an ex-pat in Sofia is that a large number of people already speak English, making communication easier and allowing visitors to focus on learning Bulgarian to connect with their new community and fully embrace their new life.

Romania – Pros

Romania has been gaining a lot of attention in recent years, thanks in part to its incredibly low GPI of 25 out of 163. But what really makes the county an attractive destination is its affordability. According to RomaniaExperience, you can buy a one-bedroom apartment for just $33,000 or rent for less than $200 per month! Retirees can even enjoy their golden years on a budget of only $1,000 per month if they opt to live in Romania.

Furthermore, doctors’ fees and private hospitals are very affordable. Private healthcare is within reach of everyone’s pocket — the cost of visiting a doctor is as low as $20! If you’re looking for an economical way to relocate or retire without sacrificing luxury and comfort, look no further than Romania!

Romania — Cons

Romania may not be the ideal destination for someone who craves the hustle and bustle of city life, as it’s much quieter than other places. Many towns completely shut down by 10 PM, so visitors should plan activities accordingly. Customer service could also leave something to be desired; although, to be fair, most Romanians are very friendly and hospitable.

The public healthcare system is a lot cheaper than private hospitals, but many users report that they’re outdated or overstretched — plus, there can be long waiting times. Finally, public transportation isn’t the best, although luckily, taxis are affordable.

Malaysia — Pros

Malaysia is becoming a popular country for retirees, as seen by its steady rise in the Global Peace Index (GPI). It currently ranks 16th out of 163 countries worldwide, signaling an improvement in the overall global ranking. What makes Malaysia so attractive to retirees is the low cost of living. Not only can one live comfortably on a $1000 monthly budget, but healthcare is also affordable yet reliable. The government has heavily invested in healthcare development and infrastructure, allowing retirees to enjoy better quality medical care at reduced rates compared to other countries.

Lastly, Malaysia offers 10-year visa eligibility, making it easy for retirees to stay longer and settle into their new homes more easily than they would be able to do elsewhere. All these advantages make retiring in Malaysia an enviable option for those seeking peace and security abroad.

Malaysia — Cons

Living in Malaysia can be a challenge for many, as the air quality can deteriorate quickly and make those with sensitive lungs feel unwell. Spending international money on importing anything non-Malaysian is also something to consider — it can be incredibly expensive depending on the item(s). The service quality in public areas may leave a bit to be desired, especially if you’re used to more attentive customer service like in the United States.

Additionally, seasonally extreme temperature swings can be disorienting even for those who have experienced harsh winters before — having access to a quality AC system could really make or break an experience in this southeast Asian country.

Czech Republic — Pros

The Czech Republic, or Czechia, has a GPI of 10, making it an extremely affordable place to call home. In fact, one can live relatively comfortably on a budget of $1,000 per month. While more money will be needed in the capital city of Prague, almost all other cities and towns in the area are incredibly affordable.

An added bonus for those considering retiring to the Czech Republic is its excellent healthcare system; each district has a doctor, but retirees can also choose their own physicians. This allows them access to specialized attention that puts their well-being first and foremost.

Czech Republic — Cons

Retiring in the Czech Republic might sound like a dream come true, but it comes at a cost. Gas prices tend to be relatively high across Europe, which may work against retirees looking to make ends meet on a limited budget. Fair warning: rent can also be more expensive for the expatriate community too, so having a knack for striking an agreeable deal is important. Although English is slowly becoming the lingua franca of Europe, Czech is still the main language of communication in most parts of the country.

Learning it fluently could open plenty of doors — both figuratively when it comes to making new friends, and literally if you’re thinking of getting your driver’s license easily. It can be quite difficult as one must pass both written and practical exams as well as attend driving school — all of which require their own set of paperwork. Knowing your way around these processes would definitely give you an advantage!

Slovenia — Pros

Retiring in the Czech Republic might sound like a dream come true, but it comes at a cost. Gas prices tend to be relatively high across Europe, which may work against retirees looking to make ends meet on a limited budget. Fair warning: rent can also be more expensive for the expatriate community too, so having a knack for striking an agreeable deal is important. Although English is slowly becoming the lingua franca of Europe, Czech is still the main language of communication in most parts of the country.

Learning it fluently could open plenty of doors — both figuratively when it comes to making new friends, and literally if you’re thinking of getting your driver’s license easily. It can be quite difficult as one must pass both written and practical exams as well as attend driving school — all of which require their own set of paperwork. Knowing your way around these processes would definitely give you an advantage!

Slovenia — Cons

Residing in Slovenia can offer ex-pats from the U.S. a unique experience, though there are some challenges to navigate. For example, social customs and behaviors tend to differ when compared to what one may be used to in the United States. In addition, taxes in Slovenia can seem tricky at first, and understanding the tax breaks available for U.S. ex-pats who have retired there is essential.

Even down to seemingly small details like routine business hours: during the weekdays, it is not uncommon for shops to close as early as 6 pm, while Sundays are almost completely devoid of open stores or businesses.

Portugal — Pros

Portugal’s GPI of three puts it in a favorable light for those looking for an affordable destination to retire from. With a budget of $1,400 per month, retirees can pay for their everyday expenses and still have some extra cash left over for leisure activities or travel. For an even more luxurious lifestyle, a budget of $2,000 per month provides plenty of opportunities to explore the culture and beauty of Portugal.

Plus, with retirement income tax-exempt, residents don’t need to worry about making ends meet each month. Obtaining residency is also easy, so retirees can enjoy the wonderful features Portugal offers without lengthy bureaucratic processes!

Portugal — Cons

Moving to Portugal as a retirement destination has its benefits, but a few cons should be considered. Obtaining health insurance can be difficult since you have to already have it before you can apply for Portuguese health insurance. Thankfully, many American companies offer their own insurance benefits in Portugal, which solves this problem.

Unfortunately, the bureaucracy of the country is often extremely tedious and frustrating and might give even the most patient person fits. Knowing about these cons in advance may help retirees plan ahead for their move to Portugal and understand what to expect once they’re there.

Austria — Pros

Austria is ranked as one of the best countries to retire comfortably, with an impressive Global Peace Index of four out of 163. You can comfortably live in Austria at around $1,500 per month per person. The further you move away from city centers, the more affordable it becomes; however, many of the rural areas have aging infrastructure, so modern amenities may be sparse.

Regarding healthcare, Austria boasts excellent medical facilities and highly skilled doctors. Although private health insurance can be costly, Austria’s residents can access universal coverage, ensuring access to all aspects of medical care.

Austria – Cons

While Austria has a higher cost of living than some other countries, the flip side is that it is so safe and secure. Admission into Austria may be a bit more difficult due to its cultural differences. The population may not seem quite as welcoming as in the U.S., but once established there, you can opt for a comfortable and luxurious lifestyle with access to excellent schooling and healthcare options.

However, one must be sure to keep track of expenses closely since the high standard of living can deplete one’s resources quickly if care isn’t taken.

25 Best Places to Retire on a Budget

Getting to retire is the best time of a person’s life. They suddenly have all the time in the world to do what they want whether it’s hiking, watching movies, arts and crafts, cooking, or whatever. What they do is all up to them! Naturally, a lot of people decide to move when they retire because—well, why not? It can be nice to get a chance of scenery or to experience a new climate. If someone’s lived in Denver their whole lives, maybe they’re tired of the snow and have their eyes set on Florida!

That being said, it can be tough knowing where to retire. The moment you retire, you’re on a fixed income. For some, their budget drastically decreased, and now they must really think about their living circumstances; it’s time to cut costs where possible (unless you put a lot of money into a 401k).

Don’t worry! There are tons of places a person can retire whether they’re on a strict budget or not. We’ve found 25 places that love retirees. We’ve listed how much the average home cost is as well as whether the state is tax-friendly toward retirees. No matter the climate you enjoy or your activity level, there’s bound to be a place you’ll love.

Daytona Beach, Florida

You don’t need to pay an arm and a leg to retire by the beach. Enjoy warm weather and low costs of living in Daytona Beach. Daytona Beach is famous for headquartering NASCAR and for its beachside motorsports. For those who aren’t as interested in sports, don’t worry. Art classes at the Art League of Daytona Beach are fairly affordable, and the Museum of Arts and Sciences is a network of museums and galleries in the city. There is no social security or pension tax in Florida.

There is no social security or pension tax in Florida. Daytona is one of the perfect places to retire without blowing through your savings. It’s low tax rate along with the many things to do means you can enjoy your retirement fully. Plus, the weather is beautiful! This is definitely a hot spot for retirees.

Pueblo, Colorado

Pueblo is a warm, relatively quiet town. The cost of living is nearly 14% below the national standard, and retirement income (social security and pension) up to $24,000 ($20,000 if you’re under 64) is tax-free. Residents of Pueblo are known for their longevity and nearly nonexistent stress levels. Who would be stressed living in this beautiful, affordable town? 

Who would be stressed living in this beautiful, affordable town?  No one! It’s mild climate and beautiful scenery make it a great place to settle down with that nest egg. If you’re a nature enthusiast, Colorado is a wonderful place to trek and explore. From snow topped mountains to rocky gardens, there’s no shortage of things to see.

Gainesville, Georgia

Gainsville is a peaceful southern town, but you won’t be short of things to do. This city of roughly 40,000 is home to 15 golf courses and a beautiful lake, perfect for boating. Gainsville residents are close to hiking trails in the Blue Ridge Mountains and the Chattahoochee and Oconee National Forests.

If you’re not the outdoorsy type, you can always drive 30 minutes to one of two nearby outlet malls. Georgia doesn’t tax social security, but it does partially tax pensions. With no shortage of things to do, and a relatively reasonable tax situation, Gainesville isn’t too shabby for a retirement destination.

Roanoke, Virginia

There’s always something going on in Roanoke, also known as the “city of festivals”. The Roanoke Festival in the Park, Strawberry Festival, and Virginia Championship Chili Cook-off (to name a few) are among the most popular celebrations in town. Downtown Roanoke boasts plenty of museums and a planetarium for you to enjoy. 

Food, transportation, and health care costs are below the country’s average. Virginia doesn’t tax social security, but it does partially tax pensions. The city’s mix of fun events and low cost of living make it a hot spot among retirees looking to settle down and enjoy the easy life. Roanoke should definitely be on your list. 

Pittsburgh, Pennsylvania

Pittsburgh’s cost of living is 16% below the national average. You won’t be bored in this big city; between the Steelers and the symphony, there’s always something to do in Pittsburgh. You’ll be able to buy a home for cheap; compare the median Pittsburgh value of $152,600 to the U.S. median value of $226,700.  Pennsylvania doesn’t tax social security or pensions. 

The low cost of housing and comfortable tax rates makes Pittsburgh an excellent choice for retirees. Retirement is all about living on a budget, and when that dollar goes further it can make your day-to-day fun money can also go further. Retirement is all about enjoying your time, so live it up in Pittsburgh!

Tulsa, Oklahoma

Affordable housing and city entertainment can be found in Tulsa, Oklahoma. This small city is rather cultured. Not only is Tulsa a common tour stop for musicians, The Tulsa International Film Festival was launched in 2011. Also, entrance to the Philbrook Museum of Art is a mere $7 for seniors. 

Tulsa is very bike and pedestrian-friendly, making an active lifestyle much easier. Oklahoma partially taxes pensions, but it doesn’t tax social security. If you’re looking for a place to retire that is conducive to a healthy lifestyle Tulsa may be the place for you to settle down. There are tons of things to do in Tulsa all without breaking the bank. Give the city a visit and see if it’s fit to be your next home. 

Rochester, Minnesota

Access to health care professionals is definitely not an issue in Rochester, home to one of the most prestigious medical organizations in the world, the Mayo Clinic. You’ll also find a variety of historic landmarks in Rochester, such as the Chateau Theatre and the Avalon Music Hotel, an integral part of the local civil rights movement. 

This safe Midwestern city’s cost of living rating is 10.4% lower than America’s standard.  Minnesota partially taxes social security, and pensions are fully taxed. While the tax situation in Rochester is a little less desirable, those taxes go to good use for the medical infrastructure available in the area.

Omaha, Nebraska

Although it may surprise you, the largest city in Nebraska has a lot to offer. Did you know Omaha is famous for its jazz? Check out some jazz clubs in the Old Market area to sample some famous “Omaha Sound”.  Housing opportunities are opening up in the Midtown Crossing area, which features stylish new apartments, boutiques and restaurants. 

Who knew you could enjoy city living at a fraction of the price? Nebraska partially taxes social security, and pensions are fully taxed. What makes Omaha such a great place to live is it’s quality of place. Omaha is a fun and desirable place to be. You can eat, shop, and play all in one place. All while enjoying every minute of retirement.

San Antonio, Texas

Love the big city but hate big city prices? Consider San Antonio. It’s easy to get around and stay fit, thanks to the new $10 a day bike-share program.  The River Walk is a perfect spot to finish a day on the town—or you can spend your evening watching a Spurs basketball game. 

San Antonio is the largest city on our list in terms of population, yet it doesn’t feel as hectic as a city of one million should be. Welcome to the perfect mix of city living and relaxation. Texas doesn’t tax pensions, social security, and other types of retirement income, although property taxes are quite high. 

Spokane, Washington

If you enjoy the great outdoors, you’ll love living in Spokane. Go fishing in one of over 70 lakes and rivers, then ski in the Rockies the next day. Spokane has more to offer than its proximity to natural beauty; its charming neighborhoods and active downtown life make this Northwestern town a lovely place to retire to. 

Washington is another state that doesn’t tax social security and pensions. When your income is fixed, taxes become a large part of considering where to live, so Spokane is a wonderfully smart place to retire to make the most of your finances. Besides being a smart decision financially, Spokane is beautiful and serene.

Lancaster, Pennsylvania

Lancaster has a lot of Amish communities, meaning farmer’s markets will be full of fresh foods with good ingredients. That being said, Lancaster has plenty of stuff for seniors to do, like a vibrant arts scene. As the cherry on top, Lancaster also has tax breaks for retirees! Pennsylvania doesn’t tax social security or pensions. 

It’s almost like Lancaster was made for retirees. From the financial perks of retiring in Pennsylvania and the wonderful markets to shop around. If you’re a person who enjoys old fashioned goods and lifestyle, Lancaster has a lot to offer. We suggest taking some time to visit and enjoy the many activities in Lancaster.

Orlando, Florida

Everyone knows that Florida is one of the top retiree states, and Orlando is one of the best ones. It’s a hot spot for tons of activities, and better yet, that doesn’t impact affordability. Florida also has tax breaks for retirees (no pension or social security tax), so what are you waiting for? Go have some fun in the sun. 

Florida is the closest thing you can get to a tropical vacation while not leaving the states. The warm climate of southern Florida never slips into cold winter temperatures. So, if you’re looking to get away from the cold, Orlando is perfect. Life on the beach is a good one. Book a trip to Orlando and see if it’s for you!

Wentachee, Washington

Washington is a beautiful state, but it can be very expensive. Wentachee doesn’t break the mold with the median home value sitting just under $300,000. However, Wentachee is a small community that’s 150 miles from Seattle. It also has low crime rates, easy access to medical care, and no income tax. 

Washington is another state that doesn’t tax social security and pensions. So, if you can afford to own a home in Wentachee you can enjoy the natural scenery of Washington with close proximity to Seattle. The low taxes make Wentachee a perfect place to live on a fixed income comfortably. 

Huntsville, Alabama

Huntsville has plenty of cultural activities to keep retirees busy. Not to mention, it’s close to the University of Alabama, where seniors over 65 can take classes for free. Huntsville is also extremely affordable for lower-income retirees because of a low cost of living. There is no social security or pension tax in Alabama. 

Huntsville is a community that’s always got something going on to be a part of. There are tons of art and food festivals in the city that are fun ways to be involved in the community and get out of the house. But the cheap cost of living in the area makes living on a fixed income so much more comfortable.

Fort Myers, Florida

Fort Myers, Florida is one of the top-rated places to retire in the United States. Why? It has fantastic, sunny weather. It also features charming shopping areas and history that other places can’t boast—Thomas Edison and Henry Ford had winter homes in Fort Myers. There is no social security or pension tax in Florida.

You can see why people have been vacationing to Fort Myers for a long time. It’s a wonderful community in sunny Florida that is the closest thing you can get to the Hawaiian minute while staying in the states. If you’re unsure, just take a trip to Fort Myers and see what it’s all about.

Iowa City, Iowa

Iowa?! Yes, Iowa. The Midwest is a great place to retire because it’s incredibly rich in history. Iowa City has been named a UNESCO City of Literature, which is ideal for writers and book-lovers alike. The cost of living isn’t extremely low, but the state offers exempt social security benefits from state income tax. 

Iowa taxes pension plans, but anyone 55 and older is eligible for a deduction up to $6,000. So, if you’re looking to retire early, that bonus sets Iowa city aside from the rest. Cost of living is probably one of the most important factors when choosing a place to retire.  

Sioux Falls, South Dakota

Want a true winter? Sioux Falls is the choice for you—not to mention it ranks pretty high on most lists for retirees. No, Sioux Falls isn’t a hot spot of activity, but it does have amazing health care, which is pretty important to most retirees. South Dakota doesn’t tax social security or pensions. 

If you’re looking for slow sleepy winters, Sioux Falls is just for you. There’s nothing wrong with retiring to the woods of South Dakota for a while. South Dakota’s scenery is one of the most beautiful in the country. It’s not for everyone, but if you love rustic living Sioux Falls may be for you.

Phoenix, Arizona

If you want something to do at all times, Phoenix is the place to be. There are plenty of opportunities to do something, and the weather is almost always perfect. It can get a little hot, but without humidity, you don’t feel it. Phoenix is also one of the more affordable major cities on the list. 

While social security isn’t taxed, pensions are taxed raging from 2.59% to 4.54%. If you’re looking for a warm place that will keep you occupied, Pheonix is for you. If you’re a nature enthusiast, there are tons of beautiful places to hike and see. One thing is for sure, Phoenix is like no other.

Asheville, North Carolina

Forbes picked Asheville, North Carolina as one of the best places to retire, and we agree. Housing is a little more expensive, but Asheville is all about location, location, location. It’s close to the Great Smoky Mountains National Park, and you don’t have to worry about the state taxing social security. 

North Carolina does tax pension accounts with an income tax rate of 5.499%. It’s location close to the mountains makes this scenic city the perfect place to slow down and smell the roses. Asheville is no stranger to retirees, so you’ll be in good company with other retired folks.

Grand Rapids, Michigan

Grand Rapids usually flies under the radar, but it shouldn’t be forgotten. This city has a great arts and crafts scene, as well as a range of recreational activities. Our favorite thing about Grand Rapids is the craft breweries, which make some of the best brews in the U.S. 

It should be noted that Michigan does tax pension benefits, but it does not tax social security.  But those taxes go to good use. Grand Rapids is a gorgeous city in the beautiful state of Michigan. It’s the perfect place to take a walk and shop the downtown scene.  All in all, it’s a great place to retire. 

Fayetteville, Arkansas

You can’t mention Fayetteville without mentioning the farmer’s market. It gives retirees the chance to shop the freshest fruits, vegetables, and breads. It’s also home to a strong sports community (as long as you love football). Arkansas doesn’t tax social security, but there is a $6,000 deduction on employer-sponsored pension plans.

Arkansas is the natural state for a reason. The lush forests in Arkansas make for cool shady springs. There are several cities that are hidden gems tucked away in the mountains of northwest Arkansas to explore. Great drives, great food, and great people. Give Arkansas a weekend stay, and see if Fayetteville is for you.

La Crosse, Wisconsin

Wisconsin may not be the first place you think about retiring, but it’s worth considering. La Crosse is a larger town and is known for its festivals, Oktoberfest being one that most residents look forward to. It isn’t like retirees will be bored! There are numerous restaurants, shops, and opportunities for outdoor activities. 

Wisconsin doesn’t tax social security, but it does tax pension plans at the fully taxable rates that range from 4% to 7.65%.  The great thing about retiring to the Midwest is that people are generally pleasant to be around. We recommend checking out the city during and after the big Oktoberfest festival. It’ll be a good way to see the city during it’s busy season and slow season. Also, the cost of living in Wisconsin is relatively low, so your dollar will get you much more!

Nashville, Tennessee

If you’re a big country music fan, Nashville is definitely where you need to be. That isn’t to say non-country music fans won’t have a place though, because there’s tons more the city has to offer. It’s home of the Grand Ole Opry and the birthplace of many famous musicians. 

There’s almost always something to do in the city, so you’ll never be bored. Tennessee doesn’t tax social security or pensions. So, if you’re looking for down home country living, or just living in a city with a thriving music scene, Nashville is for you. Book a trip and check it out for yourself!

Denver, Colorado

Denver, Colorado is one of the best places to live whether you’re a retiree or not. Not only is Denver utterly beautiful and offers tons of outdoor activities, but there’s also plenty of shopping and excellent healthcare. Unfortunately, Colorado is on the expensive side. Plus, social security and pension plans are partially taxed.  

While the tax situation is higher than other cities on this list, Denver has its perks. The scenery is gorgeous and if you’re a friend of the ganja, it’s recreational there. Otherwise, there are tons of festivals and activities to keep you busy. Book a vacation to Denver and see if it’s for you!

Salt Lake City, Utah

Salt Lake City is one of the best places you can retire. The city is known for having tons of outdoor activities, but it’s also a great place for shopping. Another thing to mention about Salt Lake is the amazing healthcare. In exchange, Utah does charge income tax on social security and pension benefits.

As we get older, choosing where to live based on healthcare becomes more and more important. Quality healthcare in the area you live in can save your life at some point. So, this makes Salt Lake City a notable choice for retirees. Also, the city is thriving with activities to keep you busy.