Considering a move abroad after retirement and want to live in a country that has it all? Since 2012, Natixis Investment Managers has conducted an in-depth study to identify the best countries in which to live. While they're not among the least expensive countries for American retirees -- like Thailand, Panama, or Costa Rica -- they're considered among the top-ranked five countries among the 195 nations on Earth.
Here, you'll learn which countries made the cut, the criteria used to identify the top countries, and if it's possible for an American to plan to relocate there in retirement.
2025 Top Five
1. Norway
2. Ireland
3. Switzerland
4. Iceland
5. Denmark
Judging criteria
The Natixis Global Retirement Index looks at it all, starting with the big picture and narrowing its search to the granular level. Here's what they're most interested in learning:
- Health: Natixis investigates the average life expectancy in each country and how much the average person spends on healthcare.
- Finances in retirement: Next, they look at issues that impact how comfortably a person can afford to retire and still lead a good life. They ask questions like how many non-performing loans banks have, and check both the interest rate and inflation rate. They drill down to learn how much tax pressure retirees face. Finally, they consider total government indebtedness to understand how financially stable the country is.
- Material well-being: Moving to another country may be more difficult if you're walking into a poor economic climate. In addition to checking for income inequality, Natixis records income per capita and the unemployment rate.
- Quality of life: Overall quality of life issues, including air quality, water and sanitation, the health of biodiversity and habitat, and other environmental factors that play into health, well-being, and happiness. Speaking of joy, the index asks people to report how they feel about life in their countries.
The reality of moving to one of the top five countries
1. Norway
To live in Norway long term, an American must obtain a permanent residence permit. Such a permit typically requires being sponsored by a family member, having a job in the country, or meeting financial and language requirements after living there for several years and applying for permanent residency.
If you've done a good job socking money away for retirement, you could do just fine. However, housing, groceries, and taxes are relatively expensive.
For someone with plenty of money in the bank, the low crime rate, strong environmental consciousness, and stunning natural beauty may be worth it.
2. Ireland
Given that roughly 1 out of 10 Americans claims Irish ancestry and the predominant language spoken is English, it may be no surprise that Ireland is a favorite destination for U.S. citizens. However, you won't be able to move there if the only income you're counting on in retirement is Social Security. A couple will need an annual income ranging from $58,000 to $117,000 to get by, depending on where you live.
Still, the natural beauty, rich history, and vibrant culture could be well worth it if you have enough money to cover high rents, purchase private health insurance, and prove you have enough money in an emergency fund to take care of any issues.
3. Switzerland
Switzerland may be for you if you're seeking special residence permits for retirees and an excellent healthcare system. However, Switzerland has a very high cost of living, so you'll need to ensure you have plenty of money in the bank. For example, the average house in Switzerland costs $1.34 million.
To be considered for a Swiss Retirement Visa, you must be over 55, prove that you're financially self-sufficient, and live in Switzerland for nearly one year. Each applicant for a Swiss retirement permit must also gain approval from the canton where they want to reside (a canton is like a U.S. state).
4. Iceland
To retire to Iceland, you must first obtain a residence permit. To be granted a permit, you'll need a minimum monthly income of $2,234 (for a couple), provide valid health insurance, a place of residence, and have a clean criminal record. Like the other countries on this list, Iceland is not a cheap date. For example, the overall cost of living in Iceland is estimated to be nearly 32% higher than in the U.S.
5. Denmark
Unless you're the partner of a Danish citizen, have a Danish work visa, or a student visa, you may have to scratch Denmark off your wish list. And though the average cost of living in Denmark is 9.8% higher than in the U.S., the trade-off is living in a country with one of the lowest crime rates in the world, political stability, and a low language barrier (86% of Danes speak English). Plus, if you're all about spending time outdoors, few countries are more dedicated to green spaces, clean energy, and renewable resources.
As lovely as each of these countries sounds, the trick to relocating in retirement is finding the place you believe you can be happiest. That may be in a small village in Belize or around the corner from a grandchild in Minnesota. It's all about your ideal retirement.
