Many Americans look beyond the nation’s borders for their retirement, dreaming about spending their golden years soaking up the beauty of other countries. And while that’s still possible, not every dream destination is as good for your wallet. After all, living costs & housing prices are rising everywhere! Here are nine countries that aren’t as financially accessible as they used to be and why.
Switzerland
Waking up to the sight of the Alps every morning sounds dreamy—but the cost of living in Switzerland is more like a nightmare. Beyond the premium scenery, everything from groceries to healthcare comes with a huge price tag. The Swiss franc’s strength doesn’t help either. It makes your dollars stretch less than you’d hope.
Norway
Norway has it all—northern lights, majestic fjords and a quality of life index that’s through the roof. Sadly, so are the living costs. It’s one of those places where salaries are high and this means that everything else has to be high, too. No amount of beauty takes away from the sheer expense of living here.
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Iceland
Iceland is one of the most unique countries in the world yet it’s also pretty isolated. This means bringing anything onto the island can be expensive—and that cost gets passed on to you for just about everything you buy. Plus, with tourism increasing, prices have shot up even more for the local people.
Japan
You sure can’t beat Japan’s mix of the ultra-modern with the traditional. Unfortunately, living in popular places like Tokyo or Kyoto is costly because real estate is at a premium. And let’s not forget the price of the healthcare system! If you’re dreaming of sushi and cherry blossoms in your retirement, you’ll need to make sure your savings can handle it.
Denmark
Denmark scores high on just about every list for its quality of life & happiness—the social services are rather great, too. However, high taxes fund those benefits and this will easily eat into your retirement funds. You’ll soon wonder if the excellent healthcare & social services are worth the high cost of living.
Australia
Who wouldn’t want to retire to the land Down Under? After all, Australia has incredible nature & wildlife for you to explore, as well as a relaxing pace of life that’s perfect for your golden years. But in cities like Sydney & Melbourne, real estate prices have gone through the roof. Living the Aussie dream certainly doesn’t come cheap.
New Zealand
Even though New Zealand’s stunning vistas might call to your adventurous spirit, your wallet won’t be as eager. Its popularity has driven up living costs & housing prices, especially in places like Auckland and Wellington. It’s a wonderful place for those who can afford it—and not many retirees can.
France
France—the food, the wine & the art make it a retiree’s dream. But living in popular areas like Paris or the French Riviera is rather expensive because real estate prices are so high. You also have the cost of eating out to worry about! If you’re a retiree looking to enjoy everything France has to offer, it’s unlikely you’ll do so without worrying about your budget.
Singapore
Singapore is known for being one of the most expensive countries in the world. Housing costs are often sky-high and while you’re enjoying the clean streets & amazing food, don’t be surprised to see your retirement funds dwindling faster than expected. As such, it’s not the best choice for every retiree’s budget.
