Retiree paradises abroad: report from Florida

Retiree paradises abroad: report from Florida

Many pensioners choose to retire in a sunny country. However, there are a few things to consider. A retiree reports on her experiences in Florida.

Every year, the German pension insurance pays around 1.71 million pensions to people who live abroad. Part of these pensions goes to German citizens who choose to retire outside of Germany. According to the Pension Atlas 2023, many German pensioners prefer Austria and Switzerland as their retirement destination. The USA is in fourth place, behind Spain.

Despite the beautiful weather and the supposedly lower cost of living, German pensioners are not only drawn to Florida or Thailand. The advantages of living in Germany, such as good protection in health and nursing care insurance, play a crucial role.

Sibylle Zinser, a German retiree in Florida, warns about the high cost of living in the Sunshine State. She emphasizes that health insurance in particular is expensive and many costs have to be borne privately. Property prices are also high, particularly for sea view homes. Despite the financial challenges, Zinser is not drawn back to Germany: "I have no reason to go back. I feel very comfortable here."

For retirees looking for the ideal retirement location, the US magazine “International Living” presents the “Global Retirement Index” with the best countries every year. Costa Rica, Portugal and Mexico are at the top of the list for 2024. These countries not only offer a low cost of living but also a high quality healthcare system. In Portugal, German pensioners can even enjoy tax advantages, including a low tax rate for foreign pensions.