If relocating is part of your retirement plan, you’re not alone.

In 2024, a total of 258,000 Americans moved to a new location specifically for retirement, as indicated by research from HireAHelper, which serves as an online hub linking those requiring moving services with nearby moving specialists.

But before you plan your move to Florida or one of the other hot spots for retirees in the U.S., you might want to take a look around the globe.

Life insurance company Everly Life released a report last month that unpacked the best places to retire around the world, per Travel + Leisure.

The research examined 137 nations based on factors like cost of living, healthcare standards, safety, cleanliness of air, proportion of older adults, and the ease of obtaining a retirement visa. Each attribute was evaluated on a 0 to 100 scale, and scores were averaged for a final ranking.

Estonia emerged as the number one choice, achieving a score of 79.41. The report highlighted that “This Baltic country offers a modest cost of living (55.9 cost index), excellent healthcare (77.7 index), and notable safety (76.5 index).”

^{Image Credit: Alexander Spatari | Getty Images. Tallinn, Estonia.}

The Northern European country also has a 20.91% elderly population, which speaks to “a retirement-friendly society,” Everly Life reported.

“Estonia hits a sweet spot that many retirees aim for,” commented Mariah Bliss, representing Everly Life. “It affords the high healthcare and safety standards of Northern Europe without the exorbitant expenses of nations like Switzerland or Denmark.”

Norway and Portugal were ranked as the second and third most favorable places to retire. The top 10 list was completed with Spain, Australia, Canada, Latvia, Hungary, Malta, and Italy.

No matter where you intend to spend your retirement, try living on your retirement budget for a few years before you actually retire to identify potential shortfalls or lifestyle adjustments that may be needed, Stacey Black, lead financial educator at Boeing Employees Credit Union (BECU), told Entrepreneur.