1. Italy

Italy offers everything from incredible food and nightlife to wonderful national parks for all those who wish to retire abroad. Not only that, but Italy's average rent is just $937.01 a month. Not too shabby! Of course, those looking for healthy living should also look to Italy, with its fresh fruit and vegetable markets, as well as very walkable cities.

What's more, Italy is the perfect place for retirees, as seniors make up around 21% of the population. So it's safe to say that you can make a good number of retired friends! Plus, as the grandparents who live in Italy, you can be sure your family will come and visit often!

2. Austria

Nearly everyone agrees that Austria is one of the most beautiful countries in the world. But did you also know its a great place to retire? While many European countries are expensive, Austria offers all the magnificent natural beauty of Switzerland at a price that's easier to budget. That's how the country earned the nickname "The Swiss Alternative."

However, if you wish to retire in Austria, there are a few more hoops to jump through than regular countries. You see, retirees who want to move to this beautiful country will need a residence permit if they want to stay longer than six months. And, in order to obtain that, you'll need proof of sufficient means. Still, if you can move to Austria, it certainly is a wonderful place to spend your golden years!

3. Australia

It doesn't matter whether you're a city slicker or a country mouse, Australia has something for everyone. While Australia has plenty of gigantic cosmopolitan cities, like Sydney and Melbourne, it also features millions of miles of wilderness as well as sunny beaches. Furthermore, thanks to the strong U.S. dollar, Australia has become an affordable retirement destination.

Australia's average rent sits at $1,358.34, quite comparable to many cities in the United States. Meanwhile, while retirees can obtain a residence visa right away, they can also simply apply for a visitor visa and reapply as needed. Then, after four years, retirees qualify for a permanent residency visa. Hey, being surrounded by koalas and kangaroos doesn't sound too bad!

4. Turkey

If you're not familiar with the great nation of Turkey, that's okay! Now's the perfect time to learn why its one of the cheapest countries to retire abroad to. A large peninsula that links Europe and Asia, Turkey features the best of both continents. Not only that, but as its surrounded by several seas, its the perfect place for those who like to spend some time at the beach.

Turkey is also one of the cheapest retirement destinations with an average rent of just $283.71. That's right! And if your retiree to Turkey, you'll never be bored. The country offers many incredible museums and architectural marvels, such as the Blue Mosque, see in the photo above. As those that have retired to Turkey can tell you: its like something right out of Arabian Nights!

5. Portugal

If you love carbs, red wine, and coffee, Portugal is perfect for you! In Portugal, day-to-day life remains slow, even in this fast-paced world. Meanwhile, locals have an old-school outlook on life and are exceptionally welcoming. In short, its the perfect place for someone to retire abroad.

Of course, Portugal would not end up on this list if it wasn't also an affordable place to retire! "[In Portugal]  a simple lunch of soup, main course, beverage, dessert, and coffee runs about $10," said Jennifer Stevens, the International Living Editor at Forbes. In total, a couple can expect to spend about $2,500 a month living in Portugal. And that includes rent! It certainly seems like the perfect place for someone looking for a little more relaxation in their retirement.

6. Bulgaria

Bulgaria has remained one of the cheapest countries for retirees to spend their golden years for quite a while. And while its relatively unknown, Bulgaria features some of the most incredible locations in the world, like Central Park in Sofia. There, retirees can spend their days lounging, while eating a banitsa – a traditional pastry – and sipping rakia, which is a stiff drink. Then, one can return to their inexpensive home, as the average rent in Bulgaria is just $340 a month!

While retired Americans can stretch their dollars in Bulgaria, the average citizen might struggle under current economic conditions, which is still struggling to return from crippling communism. However, if you don't mind kissing some first world amenities goodbye, Bulgaria could be the perfect place to retire abroad!

7. Canada

Believe it or not, Americas' neighbor Canada is not all ice and snow. Canada offers a variety of fun, metropolitan cities, like Montreal and Toronto, measured by vast expanses of dense forest and wilderness. Not only that, but it also offers universal health coverage, which many Americans desire. After all, health care access is crucial for retirees!

According to TransferWise, Montreal's average rent is currently $986.82. What's more, World Factbook says that Canada matches the United States' high standards of living. Even better, you don't need to learn another language to move to this incredible country, which makes it even more attractive. What's better than a smooth transition when retiring abroad?

8. Czech Republic

The Czech Republic is one of the best and cheapest countries for those who want to retire overseas. It's especially great for those who loved Disney films growing up: the Czech Republic is dotted with more than 2,000 castles, including Prague Castle, the largest medieval castle in Europe.

Plus, believe it or not, the Czech Republic has become a favorite of the ex-patriot community over the past few years. As of this writing, approximately 6,000 Americans have permanent or temporary residency in the country! Of course, with an average rent of just $750 a month and one of the lowest crime rates in Europe, it makes why many Americans are retiring to the Czech Republic.

9. Slovenia

Those who bleed green and donate to environmental charities will undoubtedly want to retire to Slovenia. Not only did the capital city, Ljubljana, win last year's European Green Capital Award, but its also one of the greenest countries on the globe. Over the past few years, Slovenia has earned awards from around the world, due to its high environmental standards and sustainable development practice.

Unfortunately, retiring to Slovenia is not as easy as retiring to other countries. Those planning to stay more than 90 days must apply for a residence permit. What's more, to apply, you'll need proof of health insurance, sufficient income, and a permanent address. That's quite a lot, but it certainly seems worth it!

10. Spain

Believe it or not, Spain, Europe's favorite beach destination, is actually becoming a favorite with ex-pats, and for good reason! Between the incredible weather, high standard of living, and the strength of the U.S. dollar, Spain is a great place to retire. Furthermore, Spain has one of the best healthcare systems in the world, something retirees find very important.

It's a foodie paradise, and because so much is grown locally, it's inexpensive to eat well both at home and in restaurants," said Jennifer Stevens of Forbes. "Really anywhere in Spain, a single could live comfortably on $2,000 — or less." Sign us up!

11. United Kingdom

Okay, the United Kingdom is not the cheapest country to retire to. However, it has plenty to offer retirees, if they can afford it. For instance, in the rather pricey city of London, one could visit the River Thames, stroll through public gardens, or ride the London Eye. Plus, while pricey compared to other countries on this list, London offers the same big city feel as New York and San Fransisco, for a fraction of the cost.

Meanwhile, while southern England can certainly cost retirees alot, Bankrate U.K. states that northern England has become quite affordable recently! While monthly rent in the south averages around $1,200, average rent in the north sits at just $637. That's nearly half!

12. Vietnam

In 2015, U.S. News published a long, detailed piece by Kathleen Peddicord that detailed a Vietnam's seaside resort, Vung Tau, that had become incredibly popular with ex-pats. But why do retirees love this community so much? Well, it's because retiring there, or anywhere in Vietnam really, doesn't cost much at all. In fact, the U.S. News report says that a retired couple can live at this resort comfortably for just $1,000 a month!

However, if you're not too fond of the idea of living in a resort, you can always rent your own place for just $500 a month. And who needs a resort anyway? Vietnam has plenty of jungles, beaches, and cities for you to explore on your own!

13. Mexico

Many people often associate Mexico with beach vacations and tequila, but there's so much more to this incredible country. In case you didn't know, beyond those sunny beaches and oceanside bars are colonial cities full of colorful homes, arts, and music. Plus, it's just a short flight across the border! So, it's really no wonder so many Americans retire to Mexico!

"Playa del Carmen, in particular, is on a tear — attracting lots of digital nomads and part-time snowbirds. It's become a real, functional city (not just for tourists)," said Stevens. "Inland, you can't beat the colonial cities like San Miguel de Allende or Guanajuato." The best part of all? A couple in Mexico could live on a budget of as little as $1500 a month!

14. Philippines

From the skyscrapers and towers of the Manila skyline to the dense jungles and pristine beaches, the Philippines has it all! Its also one of the cheapest countries to retire abroad to, as the U.S. dollar goes a long, long way. Not only that, but it also offers one of the most affordable monthly rent ranges in the world! Believe it or not, you can rent a place here for just $437 a month!

Thinking about retiring to the Philippines? Here's what you'll need for a Special Resident (Retiree) Visa, according to the Embassy of the Philippines: a monthly pension income of at least $800 and a required time deposit of $10,000.

15. Indonesia

Indonesia's significant metropolitans, like Jakarta, will be the best destination for city-slicker retirees. However, there's also a wealth of natural marvels, like volcanoes and jungles, for the more adventurous seniors! What's more, Indonesia's average rent is $400 a month, meaning no matter where you retire in the country, you'll be able to live cheaply.

Like many other countries, Indonesia features a special retiree visa. This visa will allow you to live in Indonesia, make multiple trips out a year, and open a bank account. However, you will not be allowed to work at all on the visa, so make sure you bring your money in with you!

16. Colombia

Now that Colombia's shady past is becoming history, it has quickly become an ex-pats paradise! Not only is the country affordable, but it also offers world-class healthcare. Furthermore, Colombia's relaxed way of life plus it's warm and accepting citizens makes it a perfect destination for retirees.

"If you like the weather in Colorado in the summer, you'd love Medellin," said Stevens. "It's spring-like year-round, with few bugs, and it's green, green, green. What's more, it's a sophisticated city with great restaurants and theater and museums." Apparently, a retired couple can live like a king and queen in Colombia for just over $2,000 a month. As such, Colombia has become one of the most popular ex-pat destinations since 2015.

17. Malaysia

Yet another Southeast Asia destination for those looking to retire abroad! Malaysia is quickly becoming the crown jewel of this part of the world, while still staying somewhat under-the-radar. In case you don't know, Malaysia was a British colony, and English is the unofficial first language, which makes it incredibly easy for ex-patriots to settle down in the country. However, Malaysia wouldn't be on this list if it also wasn't one of the cheapest countries to retire to!

"Here you'll find plenty of arts and culture, history and nature, beach and jungle," wrote Forbes. "And healthcare is first-rate. It's a great destination for medical tourism." In Malaysia, a single retiree can expect to budget $1,000-$1,500 a month, including rent, while couples should add on another $1,000.

18. Chile

South American country Chile is one of the cheapest places to retire in the entire world. As such, there's already an established community of ex-pats enjoying Chile's high standard of living and low costs. The country offers natural beauty, welcoming locals, and cosmopolitan cities like Santiago.

However, while that all sounds fantastic, there are some things you'd need to consider before moving to Chile. Most importantly, the country is a major earthquake zone. While this highly developed country is prepared to deal with quakes, it's still something to think about. Thankfully, if you still want to retire to Chile, all you'll need is to apply for a retirement visa and have proof that you can support yourself.

19. Costa Rica

It's really no wonder a country with the national motto "Pura Vida" (pure life) is one of the most popular among retirees. "Costa Rica is a place where life is lived outdoors," said Jennifer Stevens of Forbes. "You can fish, golf, ride horses, surf, hike, dive and practice yoga. It's warm and sunny, the markets are overflowing with fresh-grown fruits and vegetables."

Even better, Costa Rica has a climate for every ex-pat, from beach towns with year-round sun to cooler mountain towns that occasionally receive snow! By far, Costa Rica's favorite destination for retirees is the Central Valley, where there are plenty of houses on sale for less than $200,000. However, if you're willing to spend a little more, you could settle down in one of the nice beach towns along the Pacific coast, like Tamarindo.

20. Uruguay

As South America's second-smallest country, you might not think that Uruguay has much to offer American retirees, but you'd be wrong! Those that spend their golden days in the country can enjoy a stable economy, mild climate, and sunny beaches. Not only that, but lovely destinations like Brazil and Argentina are just a couple hours drive (or an even shorter flight) away.

Besides its colorful culture, Uruguay also has a national health system that entitles everyone, including foreign residents, to quality medical treatment. Thinking of ending up in this beautiful place? Uruguay offers several residency visas that anyone can apply for, that come with the same benefits and rights as a resident.

21. Sri Lanka

If you've never heard of Sri Lanka, that's okay! Plenty of Americans haven't either. But if you haven't, you're really missing out! Sri Lanka's proximity to India has created close cultural interactions between the two Asian countries. However, Sri Lanka also feels like a jungled island nation from Southeast Asia. But the best part of all has to be the low cost of living. Retirees can rent a place in this beautiful country for just $300 a month!

Besides being culturally diverse, Sri Lanka also offers warm, tropical weather, with average temperatures sitting between 72 and 92 degrees Fahrenheit most years. Sounds like living in a never-ending summer!

22. Serbia

Serbia seems like the perfect place for seniors to retire. Not only does it feature one of the lowest monthly rents in all of Europe, at just $312.45 (yup!), but Serbia also offers an enormous variety of picturesque mountains and natural landscapes. If you're a nature lover, then this is the place to retire abroad! More specifically, if you're a skier, than you'll likely love Serbia even more than places like Colorado. Many of Europe's best ski resorts are located in the country!

If you live in Serbia for five years, you automatically qualify for a permanent visa. There's also a quick way around this: marry a Serbian person! Take this shortcut at your own risk, though!

23. India

One of the most iconic countries in the world, India is a beautiful place, surrounded by the Bay of Bengal and the Arabian Sea to the south and the breathtaking Himalayas in the north. However, despite being one of the most beautiful locations in the world, India's average rent sits at just $225.30 a month!

Furthermore, if you're a spiritual person, India is the place for you to retire abroad to. However, if you're not a particularly religious person, this is also something to keep in mind. After all, it might be hard to integrate into such a spiritual society! Of course, India also offers tons of incredible food, including more curry than anyone could ever eat. There's nothing like a good meal to enjoy your golden days!

24. Peru

While Peru has only recently gained popularity in the ex-pat community, it definitely deserves the attention now! In case you didn't know, Peru offers much more than just Machu Picchu. Not only does it feature miles of beaches and delicious foods, but the American dollar can stretch incredibly far in the country.

"Lima is a city with many parks, panoramic sea views, and a foodie culture that's world-renowned," Forbes wrote at the end of last year. Believe it or not, a nice apartment in an upscale district of Lima starts at just $800 a month. What's more, Peru's utility costs are also reasonable. Electricity usually costs around $60 per month, water $10, and internet/cable T.V. sits at $70.

25. Romania

While it might not be the most famous in the world, the country of Romania has plenty to offer adventurous retirees. From the Bucegi Sphinx to the Black Sea and Transylvania, there are plenty of incredible locations in the country to explore. Furthermore, rent in Romania usually averages out to $354.67 a month, a fantastic price!

Like most countries in Europe, Romania offers an eclectic mix of old and new. For instance, International Living Magazine wrote that in Romania, you might see a horse-drawn carriage roll down the street, only to be followed by a brand-new Lamborghinis rolling down the streets. So, if you're looking for something a little different in retirement, Romania might be perfect!

26. Ecuador

Ecuador has an old-world charm that feels like something taken right out of a 1950s movie. Furthermore, it offers clean cities, friendly citizens, and modern cities like Quito and Guayaquil. Another perk Ecuador has to offer is its incredible weather. "You cannot beat the climate in Ecuador," said Stevens. "There's a spot for everybody."

"Whether you crave a hot beach or a cool highland retreat, Ecuador has you covered. And its great-value living." What's more, there are already many retires living in the South American country, in towns like Cuenca and Vilcabamba. There, a single in Ecuador can live a comfortable life with $1,200 a month. Meanwhile, couples should expect to spend around $2,000 a month, including rent.

27. Panama

Believe it or not, Panama actually topped the International Living Index in 2019. "Panama can make good sense," says Jennifer Stevens of Forbes. "The sun shines, it's warm, and it's below the hurricane belt." Not only that, but Panama is also an easy place to go as the currency is the U.S. dollar. What's more, medical care is both low-cost and high-quality with plenty of English-speaking physicians.

"There are several good options when it comes to getting a visa — all of which are pretty easy to comply with. That includes, for instance, the Friendly Nations visa and the Pensionado — both of which provide residence without too many hoops to jump through. What's more, real estate taxes are really low, and some properties come with a tax exemption of five to 20 years," Stevens said.

28. Pakistan

For those who are unfamiliar with Pakistan, it is a predominantly Islamic country with plenty of mosques for all your religious needs. What's more, Pakistan actually offers one of the cheapest average rents in the world! You could rent a place here for as low as $181.63.

Pakistan features gorgeous mountainous regions as well as cosmopolitan cities to enjoy. However, there are some cons to this country. You see, if you want to move to Pakistan, make sure you can get adequate health insurance as free services are limited. Furthermore, Pakistan's cost of living index is 20.40, while its grocery index is about 18.25!

29. Malta

Malta is one of the best options for those that want to retire abroad. While the average rent is higher than some other countries in this list, it is still affordable at $700-800 a month. What's more, Malta can be delightful for retirees! First of all, this Mediterranean island is pretty sunny and warm.

Secondly, it has crystal-clear waters to dip your feet in. And thirdly, they do speak English! So you don't have to learn another language. While Maltese is the other official language, you don't need to worry about that! Most people who want to retire might cross off retiring in another country because of the language barrier. So it's safe to say that Malta is an excellent option!

30. Thailand

Thailand is one of the few countries in the world where a United States ex-pat would never get bored. While it offers up lively beach communities, it also offers frenetic big cities and university towns full of things to do. Not only that, but since Thailand is so centrally located in the region, you can easily and affordably fly anywhere nearby.

"There are all sorts of ex-pat enclaves throughout Thailand — lots in Bangkok, of course, which is a big and frenetic city — too much for some folks who prefer a slower pace and smaller community," says Stevens. "They find both in places like Chiang Mai, which is in the north. It's full of gold-gilded temples, winding back streets, and food markets that stock weird and wonderful spices and vegetables."

Sources: Finance101, Forbes, Investopedia.