One of the reasons so many Americans are choosing to retire in Europe is because they can live a beautiful, adventurous life safely and inexpensively. In many cases European countries offer the chance to enjoy a great lifestyle while reducing living costs. Among the myriad of choices, Spain, France, Malta, Portugal, Cyprus, and Croatia stand out as the most affordable options. Here’s a closer look at why these countries are ideal for retirees on a budget.

1. Spain

Despite swapping places with France on recent affordability lists, Spain remains one of the most cost-effective destinations in Western Europe. For around $2,600 a month (as recorded in 2023), a couple can live comfortably on Spain’s southern coasts. This budget allows for a pleasant lifestyle without a car, capitalizing on the region's excellent public transportation and the bonus of over 300 sunny days a year.

Healthcare is another significant advantage in Spain. Expats pay substantially less than in the U.S. and receive top-notch medical treatment. After five years of residency, expats are eligible for Spain’s single-payer public healthcare system, ensuring peace of mind in medical matters. Although navigating the visa process can be complex, various options are available depending on income and investment levels.

2. France
It might seem surprising that France, a country synonymous with high fashion and sophistication, is also a budget-friendly retirement destination. According to the Global Retirement Index, France has much to offer beyond its chic reputation. The country is celebrated for its excellent food, wine, climate, unspoiled countryside, rich culture, and top-tier healthcare.

Cost-wise, retirees will find that while utilities like electricity and water are on par with U.S. prices, other expenses are notably lower. Housing costs outside of Paris and the Alps are approximately 34% less than in the U.S. Sunny Montpellier and the medieval town of Sarlat-la-Canéda are particularly recommended for their affordability and growing popularity among North American retirees.

3. Malta
One of my personal favorites is Malta, a small Mediterranean island nation. It is another attractive option for American retirees. Known for its pleasant climate, historical sites, and English-speaking population, Malta offers a high quality of life at a reasonable cost. With an average monthly budget of around $2,300, a couple can live comfortably, enjoying the island’s beautiful landscapes and friendly community.

Malta’s healthcare system is highly regarded, and expats can access both public and private healthcare services. The country’s efficient visa process, coupled with its numerous expat communities, makes it an easy transition for retirees.

4. Portugal
Portugal consistently ranks as one of the top destinations for retirees, and for good reason. With a monthly budget of around $2,200, a couple can enjoy a comfortable lifestyle in many parts of the country. The Algarve region, with its stunning beaches and mild climate, is particularly popular among expats as well as Lisbon and Porto.

Healthcare in Portugal is excellent and affordable. Expats can access the public healthcare system after becoming residents, and private health insurance is also reasonably priced. The country offers a range of visa options, making it accessible for retirees with different financial situations.

5. Cyprus
Cyprus combines the charm of Mediterranean living with a relatively low cost of living. A couple can live comfortably on about $2,400 a month, enjoying the island’s warm climate, beautiful beaches, and rich cultural heritage. The Paphos region, known for its expat community and historical sites, is especially favored by retirees.

The healthcare system in Cyprus is efficient and affordable, with expats having access to both public and private services. The country’s straightforward residency process and welcoming attitude toward foreigners make it an appealing option for American retirees.

6. Croatia
Croatia, with its stunning Adriatic coastline and vibrant culture, offers a high quality of life at a fraction of the cost in the U.S. A couple can live comfortably on around $2,100 a month, enjoying the country’s picturesque landscapes and historic cities like Split and Dubrovnik.

Healthcare in Croatia is both affordable and of high quality. Expats can access the public healthcare system, and private healthcare is also available at reasonable rates. The visa process is relatively straightforward, and the country’s growing expat community provides a supportive environment for new retirees.

Conclusion
Each of these six countries offers a unique blend of affordability, quality of life, and accessibility, making them excellent choices for American retirees looking to stretch their retirement dollars while enjoying a fulfilling lifestyle abroad. Whether you’re drawn to the sunny coasts of Spain and Portugal, the cultural richness of France and Malta, or the Mediterranean charm of Cyprus and Croatia, there’s an ideal destination waiting for you.