3. Mexico

Proximity to the United States makes Mexico an undeniable favorite for retirees who want to maintain close ties with family back home. Direct flights from major Mexican airports allow you to return to the US for holidays or family emergencies in a matter of hours.

Mexico offers incredible geographic diversity. You can choose the temperate, spring-like weather of the Colonial Highlands in San Miguel de Allende, the bustling lakeside expat community of Lake Chapala, or the tropical coastlines of Puerto Vallarta and the Riviera Maya.

The Temporary Resident Visa requires you to prove specific financial minimums—either a monthly income of roughly $4,300 or a bank balance exceeding $73,000 over the past year. These figures adjust annually based on the Mexican minimum wage.

First-rate private healthcare is readily available in medium and large cities, costing a fraction of US prices. Many retirees pay out-of-pocket for routine care and maintain catastrophic health insurance for major emergencies. A comfortable lifestyle for two, including domestic help and regular dining out, generally ranges from $1,800 to $2,800 per month.