Among the 10 most comfortable countries for retirement, Canada and New Zealand are included, while the U.S. did not make the list.
Nearly 17,000 people and a subset of 5,900 respondents in their mid-40s and older participated in an international survey that ranked the best countries for a comfortable retirement, according to a recent U.S. News and World Report.
The 89 countries were ranked based on the following seven attributes:
- Affordable
- Favorable tax environment
- Friendly
- A place I would live
- Pleasant climate
- Respect property rights
- Well-developed public health system
In surveys conducted by services like Bankrate, Florida and Delaware are often ranked among the best states to retire, but the United States did not make the top 10 in these surveys. The U.S. ranked 30th, behind countries like Mexico, Malaysia, and Dominican Republic.
Switzerland is the best country for a comfortable retirement
For the second year in a row, Switzerland has been ranked as the best country for a comfortable retirement. It placed second in terms of being business-friendly and third for quality of life.
Although Switzerland's healthcare system and low taxes attract many retirees, the country is also one of the most expensive countries for retirement, with a cost of living that is on average 60.5% higher than the United States and rent that is, on average, 18.2% higher, according to Numbeo.
A European country provides a type D visa for long-term residency, and a single retiree will require at least $3,500 per month to live comfortably. In larger cities, a retired couple can anticipate spending $4,000 per month on rent, utilities, food, and healthcare, as per Smartasset.
Although Switzerland is a landlocked country roughly the size of New Jersey, it ranks among the world's wealthiest nations. Unlike many countries, Switzerland does not have an official language; instead, the majority of its population speaks Swiss, German, French, and Italian.
Despite being surrounded by conflicts globally, Switzerland maintains its neutrality and does not belong to the European Union.
The 10 best countries for a comfortable retirement
- Switzerland
- New Zealand
- Portugal
- Australia
- Spain
- Canada
- Denmark
- Netherlands
- Sweden
- Luxembourg
New Zealand has moved up two spots to become the No. 2 best country to retire comfortably, according to recent rankings.
The country has a temporary retirement visitor visa for those 66 and older.
To make the most of the two-year visa, individuals must invest at least $750,000 NZD or $460,299 USD in New Zealand and have an additional $500,000 NZD or $306,866 to live on. Additionally, visa holders must have an annual income of at least $60,000 NZD or $36,824.
New Zealand's retirement visa prohibits working in the country, but applicants can explore job opportunities through the Parent Resident Retirement visa, which has unique financial requirements and a significant distinction: proving an adult child who is a New Zealand citizen or resident.
According to Numbeo, the cost of living in New Zealand is, on average, 5.5% lower than in the United States, and rent is, on average, 36.2% lower.
Subsidized or free healthcare is available to residents of New Zealand due to the taxes that fund public health care, according to Smartasset.
Known for its stunning natural beauty and varied landscapes, New Zealand has been a popular filming location for numerous major movies, including "The Lord of the Rings" and "The Hobbit" trilogies.
Visitors can journey to the Hobbiton movie set in Matamata, a two-hour drive from Auckland, for fans of both the Tolkien books and Peter Jackson's films.
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