The best places to retire in 2020 – where couples can live comfortably for less than R25,000 a month

InternationalLiving.com, an authority on global retirement and relocation opportunities, has published its Annual Global Retirement Index for 2020 – ranking the best countries to retire in, where couples can live on under R25,000 a month.

The index takes into account hard data across 13 different categories, and ultimately formulates its list with the input of staff, editors and partners around the world.

Among the metrics it uses to determine an ideal retirement destination, is how easy it is for a retired couple to live comfortably on $1,800 a month.

Other aspects that the group looks at includes visa strength, healthcare, climate, cost of living, investment potential, how easy it is to fit in, governance and opportunity.

For 2020, Portugal has been ranked as the best country to retire in – overtaking Panama, which held the top a position on the index past 10 years.

While it costs more to live comfortably in the country compared to others ranked in the index (between $2,500 to $3,000 a month), Portugal’s lifestyle, climate, history and people have rocketed it the top destination for retirees.

“There is an overarching sense of well-being experienced here. The country’s natural geographical beauty blends with its architecture of various eras, dating back millennia, to evoke a sense of permanence and timeless tradition. When you add to that the kindness and gentility of the Portuguese people, it is a winning combination,” IL said.

For most of the countries ranked by IL, the range for monthly cost of living ranges from under $1,800 to $3,000.

The index is compiled by taking into account housing availability, retiree benefits and discounts, the cost of living, ease of residence, lifestyle and entertainment and healthcare. Other factors include social stability, governance, climate and opportunity for retirees.

Here are the top 24 countries to retire in, according to International Living:

# Country Score
1 Portugal 86.0
2 Panama 85.8
3 Costa Rica 85.3
4 Mexico 83.8
5 Colombia 83.4
6 Ecuador 82.0
7 Malaysia 81.9
8 Spain 76.8
9 France 76.4
10 Vietnam 76.0
11 Malta 75.7
12 Cambodia 75.6
12 Peru 74.0
14 Ireland 73.9
15 Bali 70.3
16 Italy 67.9
17 Thailand 67.8
18 Belize 67.4
19 Uruguay 65.7
20 Roantan 65.7
21 Dominican Republic 65.3
22 Croatia 64.5
23 Nicaragua 63.2
24 Bolivia 62.8

Read: Beware when cashing out your retirement savings

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The best places to retire in 2020 – where couples can live comfortably for less than R25,000 a month