7. The Philippines

The Philippines is an archipelago consisting of 7,000 tropical islands, and it seems to be quite a popular choice for US expats. According to the latest data, the Philippines has a population of more than 200,000 Americans.

So why should a retiree spend their golden years on these islands? Similar to other places on this list, the main reasons tend to be the reasonable living costs and warm weather. Just to give you some examples, the rent prices in the Philippines are about 78% lower than in the US. When it comes to grocery prices, they are 47% lower than in the US.

The country has a Special Resident Retiree’s Visa that comes with lots of perks for expats hoping to retire abroad. This visa qualifies you to get an exemption from import taxes, customs duties, travel taxes, and pensions and annuities.