Retiring Abroad: Top 5 Places Boomers Prefer to Retire Outside the US

1. The Philippines

Insider Monkey Score: 52

Ranked first in our list, the Philippines is one of the best countries to retire in Asia. With a thriving economy, it presents an attractive option for retirees. The Special Resident Retiree’s Visa (SRRV) caters to individuals aged 50 and above, offering an array of benefits such as discount privileges, PHILHEALTH entitlement, and the flexibility of multiple entry and exit options. The visa also allows retirees to purchase condos or townhouses, and with a $50,000 investment, they can own a fully detached home. Affordable living and an improved quality of life make it an attractive destination. Cities like Davao, Iloilo, and Baguio City are among the cheapest places to live. The Philippine Retirement Authority promotes the country as a retirement haven, offering flexible visas, senior citizen discounts, and exemptions from import duties and taxes. Foreign government pensions are tax-exempt, allowing retirees to buy property and open businesses.

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