Retire Abroad
Your pension buys a house in Ohio or a life in Lisbon. One of those has better weather.
This page is for people whose retirement plan includes a passport. Not "two weeks in Cancun" retirement — the "sell the house, ship the dog, learn enough Portuguese to order wine" kind.
The math is simple: Social Security plus a modest pension goes further outside the US. A lot further. $2,000/mo puts you below the poverty line in most American cities. In Panama City, it's a comfortable life with healthcare included. In Portugal's Algarve, it's a sea-view apartment.
Below: every destination with an explicit retiree visa, ranked by minimum income threshold. Every number is sourced from government immigration authorities. Nothing invented.
Can your pension get you in?
Minimum monthly income thresholds for retiree visas. Click any column to sort.
| City | Visa | Min income▲ | Rent/mo↕ | PR↕ | Citizen↕ | Tax treaty↕ | US entry↕ |
|---|---|---|---|---|---|---|---|
| 🇨🇷 Atenas | Costa Rica Pensionado | $1,000/mo | $650 | 3y | 7y | Limited | Smooth sailing |
| 🇨🇷 San Jose | Costa Rica Pensionado | $1,000/mo | $998 | 3y | 7y | Limited | Smooth sailing |
| 🇨🇷 Tamarindo | Costa Rica Pensionado | $1,000/mo | $950 | 3y | 7y | Limited | Smooth sailing |
| 🇵🇦 Boquete | Panama Pensionado Visa | $1,000/mo | — | Imm. | 5y | No | Smooth sailing |
| 🇵🇦 Panama City | Panama Pensionado Visa | $1,000/mo | — | Imm. | 5y | No | Smooth sailing |
| 🇵🇹 Faro | Portugal D7 Visa | $1,013/mo | $1,077 | 5y | 5y | Yes | Some paperwork |
| 🇵🇹 Funchal | Portugal D7 Visa | $1,013/mo | $1,568 | 5y | 5y | Yes | Some paperwork |
| 🇵🇹 Lisbon | Portugal D7 Visa | $1,013/mo | $1,616 | 5y | 5y | Yes | Some paperwork |
| 🇫🇷 Montpellier | France Long-Stay Visitor Visa (VLS-TS) | $1,944/mo | $930 | 5y | 5y | Yes | Some paperwork |
| 🇫🇷 Nice | France Long-Stay Visitor Visa (VLS-TS) | $1,944/mo | $1,142 | 5y | 5y | Yes | Some paperwork |
| 🇪🇸 Barcelona | Spain Non-Lucrative Visa | $2,640/mo | $1,712 | 5y | 10y | Yes | Some paperwork |
| 🇪🇸 Tenerife | Spain Non-Lucrative Visa | $2,640/mo | $1,217 | 5y | 10y | Yes | Some paperwork |
| 🇪🇸 Valencia | Spain Non-Lucrative Visa | $2,640/mo | $1,429 | 5y | 10y | Yes | Some paperwork |
| 🇮🇹 Florence | Italy Elective Residence Visa | $2,841/mo | $1,316 | 5y | 10y | Yes | Some paperwork |
| 🇮🇹 Rome | Italy Elective Residence Visa | $2,841/mo | $1,355 | 5y | 10y | Yes | Some paperwork |
| 🇹🇭 Bangkok | Thailand LTR Visa (Wealthy Pensioner) | $3,333/mo | $703 | 3y | 8y | Yes | Bring a lawyer |
| 🇹🇭 Chiang Mai | Thailand LTR Visa (Wealthy Pensioner) | $3,333/mo | $463 | 3y | 8y | Yes | Bring a lawyer |
| 🇬🇷 Athens | Greece Financial Independence Visa | $3,850/mo | $737 | 5y | 7y | Yes | Some paperwork |
| 🇲🇽 Ajijic | Mexico Temporary Resident Visa | $4,400/mo | $879 | 4y | 5y | Yes | Some paperwork |
| 🇲🇽 Merida | Mexico Temporary Resident Visa | $4,400/mo | $601 | 4y | 5y | Yes | Some paperwork |
| 🇲🇽 Mexico City | Mexico Temporary Resident Visa | $4,400/mo | $1,173 | 4y | 5y | Yes | Some paperwork |
| 🇲🇽 Puerto Vallarta | Mexico Temporary Resident Visa | $4,400/mo | $1,435 | 4y | 5y | Yes | Some paperwork |
| 🇲🇽 San Miguel de Allende | Mexico Temporary Resident Visa | $4,400/mo | $1,106 | 4y | 5y | Yes | Some paperwork |
Income thresholds from official government immigration sources. Rent is city-centre 1BR average from Numbeo. "Imm." = immediate permanent residency on approval. Tax treaty = US income-tax treaty covering pension income ("Limited" = TIEA only, no double-taxation relief).
🇵🇦The Panama Pensionado
The most famous retiree visa in the world, and for good reason. $1,000/mo pension gets you in — no age requirement, immediate permanent residency, and a discount package that sounds made up but is legally mandated:
Panama uses USD, so no currency risk. Citizenship after 5 years. Two top picks: Panama City for urban amenities and Boquete for mountain climate and expat community.
🇨🇷Costa Rica — Pura Vida on a Pension
Two paths in: Pensionado ($1,000/mo lifetime pension) or Rentista ($2,500/mo guaranteed income for 2 years, deposited in a Costa Rican bank). Both lead to permanent residency after 3 years and citizenship after 7.
Healthcare comes included — you must enroll in CAJA (Caja Costarricense de Seguro Social), the public system. It's not fast, but it's comprehensive and costs 7–11% of declared income. Many expats carry supplemental private insurance ($80–200/mo).
The $5,200/mo test
Average US retiree income is about $5,200/mo (SS + pension + drawdowns). Here's what that qualifies you for — without leaving this page:
Medicare doesn't cross borders
You paid into Medicare for 40 years. The moment you establish residency abroad, it stops covering you. No exceptions, no reciprocity agreements, no "but I'm still a citizen" appeals. Parts A, B, and D — gone. Medigap — useless outside US borders.
What you lose
- Part A (hospital) — won't pay foreign hospitals
- Part B (outpatient) — no coverage abroad
- Part D (prescriptions) — US pharmacies only
- Medigap — follows Medicare, so also dead
What replaces it
- Host country public system (if you qualify)
- Private expat insurance ($100–$460/mo by age)
- Direct-pay at local hospitals (often cheap)
- Medical tourism back to the US (ironic but real)
The Part B penalty trap
If you drop Part B while abroad and return to the US later, you'll pay a 10% penalty per year without coverage — permanently. Some retirees keep Part B as catastrophic insurance for US trips. At $185/mo (2026), it's expensive peace of mind, but cheaper than re-enrolling after a decade away.
What private cover actually costs at 60+
The #1 financial unknown for retirees losing Medicare. These are real monthly premiums for comprehensive private health insurance in the 60–69 age band, sourced from major international insurers (Cigna Global, Allianz Care, IMG) for each country.
| Country | Public access? | Private (60–64) | Private (65–69) |
|---|---|---|---|
| 🇵🇹 Portugal | Yes (SNS after registration) | $180–$280/mo | $320–$460/mo |
| 🇪🇸 Spain | Yes (after 1 year residency) | $200–$300/mo | $350–$500/mo |
| 🇲🇽 Mexico | IMSS buy-in available | $150–$250/mo | $280–$420/mo |
| 🇵🇦 Panama | CSS for residents | $180–$300/mo | $350–$520/mo |
| 🇫🇷 France | Yes (PUMA after 3 months) | $200–$320/mo | $380–$550/mo |
| 🇮🇹 Italy | Yes (SSN after enrollment) | $190–$290/mo | $340–$480/mo |
Ranges reflect comprehensive inpatient + outpatient plans from major international insurers (Cigna Global, Allianz Care, IMG) for non-smokers. Excludes US coverage. Pre-existing conditions may increase premiums or require waiting periods. Costs as of early 2026.
Your medical baggage: who lets it through customs
"Pre-existing conditions may affect premiums" is what insurers say when they mean "we might double your rate, exclude your heart, or ghost you entirely." Here's what actually happens in each country when a 62-year-old shows up with a prescription history.
| Country | Public covers PECs? | Wait for public | Private approach | PEC loading |
|---|---|---|---|---|
| 🇨🇷 Costa Rica | Yes — day 1, zero exclusions | Immediate | Excludes PECs 12–24 mo | N/A (use CAJA) |
| 🇫🇷 France | Yes — no exclusions by law | 3–6 months | Moratorium until PUMA kicks in | 0% (mutuelles can't exclude) |
| 🇮🇹 Italy | Yes — SSN covers all | Immediate (€2k/yr buy-in) | 12–24 mo moratorium | 0% on public |
| 🇵🇹 Portugal | Yes — SNS after registration | 4–6 months | Excludes PECs during wait | 0% once on SNS |
| 🇪🇸 Spain | Yes — Convenio Especial | 1 year (or €157/mo buy-in) | Excludes or loads | 0% on Convenio |
| 🇵🇦 Panama | Yes — CAJA can't deny | Immediate (with visa) | Strict exclusions; age caps | +50–100% |
| 🇲🇽 Mexico | Partial — IMSS excludes cancer/cardiac | Immediate (INSABI) | Covers controlled conditions | +25–75% |
| 🇹🇭 Thailand | No public option for foreigners | N/A | Moratorium + loading or denial | +25–150% |
Conditions that get you "loaded" (higher premium)
Controlled type 2 diabetes (+25–50%), hypertension (+25–50%), joint replacements (+25–50%), mild asthma (+25%). These are manageable — insurers charge more but still say yes.
Conditions that get you excluded or denied
Active cancer, recent cardiac events (+75–150% or outright exclusion), COPD requiring oxygen (+50–100% or denied), insulin-dependent diabetes with complications. Thailand and Panama private insurers are strictest.
The play for retirees with serious conditions
Pick a country where public healthcare covers pre-existing from day 1 (Costa Rica, France, Italy) or after a short wait (Portugal 4–6 mo, Spain 1 yr). Buy private insurance WITHOUT pre-existing coverage for the gap period — you're paying for accidents and new conditions only, not your existing meds. Total gap-period cost: $150–$300/mo instead of $500–$800/mo for a policy that tries to cover everything. Your cardiologist back home can telemedicine the chronic stuff until public kicks in.
PEC = pre-existing condition. Loadings are typical ranges from Cigna Global, Allianz Care, IMG, and Bupa International for ages 60–69. Public system policies per national health ministry rules. Individual underwriting varies. Data as of early 2026.
Taxes don't retire when you do
The US taxes citizens on worldwide income — including Social Security and pension distributions — regardless of where you live. You'll file a US return every year, plus FBAR for foreign accounts over $10,000.
Countries with US tax treaties
Panama, Costa Rica (limited), Portugal, Spain, France, Italy, Greece, Mexico, Thailand. Treaties prevent double-taxation on pension income in most cases.
Social Security abroad
SS payments continue to most countries via direct deposit. Some countries tax SS under bilateral agreements; others exempt it. Get a US-expat CPA — this is not DIY territory.
Head-to-head
The retirement comparisons that actually matter
Country deep-dives
Visa requirements, tax treatment, healthcare, and retiree cost of living — one page per country
Not sure where to retire?
16 questions. 2 minutes. We'll rank every city in our database for your specific priorities — climate, cost, safety, visa access.
Take the quiz →❓ Retiring Abroad — Common Questions
What is the cheapest country to retire to from the US?▾
Panama and Costa Rica both have retiree visas requiring just $1,000/month in pension income. Panama's Pensionado is particularly famous — it includes a discount package (25% off airfares, 20% off doctor visits, 50% off entertainment). Costa Rica's Pensionado has the same $1,000/mo threshold and leads to permanent residency after 3 years.
Do I keep my Social Security if I retire abroad?▾
Yes. US Social Security payments continue to most countries. The SSA directly deposits to foreign bank accounts in 80+ countries. Panama, Costa Rica, Portugal, Spain, Mexico, France, Italy, and Greece all receive Social Security payments without issue. The exceptions are a handful of sanctioned countries.
What about Medicare if I move abroad?▾
Medicare generally doesn't cover healthcare outside the US. You'll need to rely on the destination country's public healthcare (if available to residents) and/or private health insurance. Portugal, Costa Rica, France, Italy, and Spain all have public healthcare systems retirees can access. Private expat insurance runs $100–$400/mo depending on age and country.
Which countries have the fastest path to citizenship for retirees?▾
Panama: 5 years (from immediate permanent residency). Costa Rica: 7 years (PR after 3). Portugal: 5 years. Mexico: 5 years. Spain: 10 years (2 for Latin Americans). France: 5 years. Italy: 10 years. Greece: 7 years. All allow dual citizenship with the US.
Can my spouse come with me on a retiree visa?▾
Yes, in all the countries listed. Panama adds $250/mo to the pension requirement per dependent. Costa Rica and Portugal include dependents in the main application. The spouse typically gets limited work rights — they can reside but may need a separate work permit for local employment.