Which countries are the most favorable for retirement: what are their advantages

There are not many advantages to retiring in the United States. Rented housing costs about $2,000 per month, while the average Social Security benefit for retirees is only about $1,800.

A more affordable option might be to retire in another country. Although this is not suitable for everyone, it will be the right decision for some people, The Motley Fool writes.

The most popular countries where retirees have many advantages are Costa Rica, Portugal, and Greece.

Let's take a closer look at all three.

1. Costa Rica

About 10% of the country's population are foreigners. Part of the attractiveness of this country is its lower cost of living. The average one-bedroom apartment in a large city costs just under $600 per month, while an apartment outside the city costs about $400 per month on average.

Costa Rica boasts one of the best healthcare systems in Central America, and you typically pay about one-third to one-fifth of what you would pay for healthcare in the United States. Prescription drugs are also more affordable in Costa Rica.

2. Portugal

Portugal is not only an incredibly beautiful country that offers everything from beaches to mountains and wide plains but it is also incredibly safe. According to the Global Peace Index report for 2022, the country was recognized as the sixth safest in the world, compared to the United States, which ranked 129th.

It is also more affordable than most US cities for renting a house. The average one-bedroom apartment costs between $650 and $900 per month, depending on whether you live in a smaller or larger city.

Healthcare funded by the Portuguese government is free for all citizens. Although you may have to pay for emergency care, the cost is a small fraction of what you would pay in the United States for similar services.

3. Greece

For those looking for a country filled with natural beauty, rich history, and plenty of sunshine, Greece can be a fantastic choice.

Surrounded by seas, Greece is a Mediterranean paradise with mountains, beaches and stunning scenery all over the country. It is also senior-friendly as half of the country's population is over 50 years old.

It is also a popular retirement destination because of its affordability. The average cost of a one-bedroom apartment is about $450 per month if you live in a big city, or just under $400 per month outside the city.

Healthcare in Greece is also much more affordable than in the United States, and it is becoming a hot spot for medical tourism as more and more people travel to the country specifically for affordable medical procedures.