This map, published by NetCredit in 2023, shows the cost of retirement in different countries around the world.

The methodology used by the authors focuses on the data provided by Numbeo, a website that compiles the cost of living in different cities around the world. Using monthly data from Numbeo, the authors calculated the average life expectancy of an American after retirement (from 61 to 76 years old) and added an extra 20% to the total to allow for contingencies.

With this approach, the map shows countries such as Singapore, Switzerland and Iceland among the most expensive places to retire, and Pakistan, India and Colombia among the cheapest.

In no case does the map take into account the public policies that exist in each country that facilitate retirement for citizens, nor the additional costs that a non-national citizen might incur when moving to a foreign country for retirement.

Sources

• The Cost for an American to Retire Comfortably in Every State and Country