Can a U.S. citizen retire to another country?

Although not every country allows U.S. citizens to retire there, some countries offer financial incentives to foreigners who settle there for their retirement.

Is it really cheaper to retire abroad?

Depending on the country you choose, it can definitely be cheaper to retire abroad. The cost of living is lower in much of the world; taxes are often lower, as well. Some countries even offer incentives to retire there.

What country do most Americans retire to?

There's no one country most Americans retire to, but some of the most popular are Portugal, Mexico, and Panama.

Can a U.S. citizen live abroad and still collect Social Security?

You can continue to receive Social Security benefits in most countries outside the U.S., though there are a few exceptions. The Social Security Administration has a Payments Abroad Screening Tool to help you determine if you can receive checks in the country you plan to retire in.

Everything You Need to Know About Retiring Abroad

Retiring Overseas: Here's What You Need to Know

By Kailey Hagen – Updated Mar 2, 2026 at 9:37 AM EST | Fact-checked by Margo Winton Parodi

Key Points

Retiring abroad can offer cultural experiences and a lower cost of living.
Countries like Panama offer financial perks for retirees, like tax exemptions.
Before moving, research visas and healthcare, and try living in the country temporarily.

For many Americans, retiring abroad is a dream. You might envision relaxing on a beautiful beach, strolling through the streets of Europe, or embarking on a new adventure somewhere where your dollar goes much further. Retiring abroad can offer numerous benefits, including a lower cost of living, the ability to travel, and the opportunity to immerse yourself in a new culture.

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Chania, Crete, Greece. — Image source: Getty Images.

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Federal Income Tax

The federal income tax is the primary source of revenue for the United States government.

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Retiring Abroad: FAQs

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About the Author

Kailey Hagen, CFP, is a contributing Motley Fool retirement analyst covering Social Security, Medicare, and retirement planning. Before The Motley Fool, Kailey was a research analyst for Reviews.com focusing on credit and banking products. She is a Certified Financial Planner® and holds a bachelor’s degree in English from the University of Wisconsin-Madison.

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