15 Best Places to Retire for Wealthy Individuals

we often make content about the cheapest or budget-friendly places to retire in the world but if you're a wealthy individual and budget isn't the first thing that comes to mind when thinking about retirement well then the countries and localities mentioned in this video might be your best bet these retirement destinations offer everything that a retiree needs from availability of recreational and healthcare facilities to high-end property market and great weather additionally some of these places are well-renowned tax havens and are great places for wealthy retirees to conduct offshore banking overall these are not the typical retirement destinations as most of them are hot spots for the world's global elites to live out their golden years so if you're looking to reduce your cost of living these aren't one of those places the bare minimum amount to retire with all the luxuries on offer and some of these places could stack up to 300 000 annually nonetheless here are 15 places to retire for wealthy individuals number 15 gold coast australia sun sea and beautiful beaches are the reason that the gold coast in australian state of queensland has been a popular retirement destination for decades that offers a host of recreational activities such as golfing sailing surfing and more plus everything is within easy reach for most staying in the popular accommodation suburbs while the gold coast also boasts one of the world's most extensive canal systems that opens up all kinds of opportunities for water sports cruises and other forms of marine exploration the cost of living varies throughout the city for some it can be affordable while for others who want the best of all it can be very expensive in the end it all depends upon the type of accommodation you choose from luxurious high-rise apartments to charming outback retirement villages it can satisfy almost any retirement dream number 14 tuscany italy tuscany is a quaint region in central italy and it's very popular amongst foreigners it has whimsical beautiful towns and villages with fine beaches on one side and majestic mountains on the other but the region offers more than that its bustling regional capital of florence is home to some of the world's greatest artistic and architectural masterpieces although it has the reputation of being somewhat affordable in certain areas it's still expensive if you chose to reside in its upscale areas where all services and amenities are easily available its central swath of the region is home to some of italy's highest real estate prices most of the wealthy retirees buy farm houses here which are restored to a high standard of modern elements overall local food is healthy the climate is favorable and there are plenty of opportunities for outdoor activities number 13 sunshine coast australia another australian gem the sunshine coast is a locality located in the southern queensland the region strikes a beautiful balance between offering beach life and lush subtropical rainforest with enviable medical facilities exceptional restaurants cafes and retailers much like the gold coast the sunshine coast also boasts a robust real estate market and in many cases it's even more striking because it lacks a large number of high rises which means more open feeling without large shadows being cast and obscuring the sunshine furthermore there are several coastal towns to choose from and property prices in the region range from approximately fifty thousand dollars for a studio apartment in a retirement village to one million dollars plus for a brand new deluxe penthouse or standalone villa number 12 dubai united arab emirates located in the uae dubai is an incredible city with a futuristic vibe it's long been a destination for expats tourists and even retirees although for some it might not be that expensive but then again if you're trying to retire here it can prove to be extremely lavish for example to gain a retirement visa here you need to buy a property worth five hundred thousand dollars or you have to show financial savings that accounts to at least two hundred and seventy thousand dollars moreover it's the only place on the planet where more than 50 percent of the world's billionaires own some sort of real estate either in one of its high-end residential areas or on one of its artificial islands all in all it has plenty of exciting opportunities for wealthy retirees wanting a completely different lifestyle from the glitz and glamour shops amazing shows and music festivals to high-class private beach clubs and golf clubs with many other entertainment opportunities number 11. kefalonia greece kefalonia is the largest of the ionian islands and arguably the most beautiful it's often featured in hollywood movies with wonderful shots of the landscape inspiring millions of people to visit here it's certainly picture-perfect with bright lush vegetation and seaside cliffs standing out against the traditional white-washed houses the cost of living on this island is increasing day by day and retiring here without breaking the bank is futile plus the property prices on this island have almost doubled over the last five years however there are still some parts of the island where living is somewhat affordable but despite that it suits those who have a lot of disposable income and are financially comfortable number 10 canary islands spain the canary islands are a group of islands off the coast of morocco they're an autonomous community of spain but they have their own laws here generally this archipelago is a good place to retire if you want all the benefits of living in europe but with some isolation from the mainland tenerife is the largest and most popular among foreign retirees but gran canaria also attracts retirees from around the world there's a great disparity in cost of living here in the end it all depends on the location one chooses to reside for example some of its areas are even more affordable than mainland spain while on the flip side some are more expensive than cities like london as a whole it's a good retirement destination for the affluent with unbeatable climate and unique terrain number 9 california usa famously known as the golden state california has incredible weather all year round it's home to a number of the most expensive cities in the country including san francisco san jose san diego and los angeles evidently home prices are higher near these cities which brings the state median house value up to a whopping eight hundred thousand dollars which can climb even higher in the coming years as insurance rates take their toll in addition california has the highest state income tax rate at 13.3 percent on an average income of 65 000 so without a doubt it is a place where only high net worth individuals can retire but if you're willing to deal with the higher costs of living and drop a few extra 100 ks on a house then the golden state lifestyle exceeds that of many other places in the world number eight u.s virgin islands america's caribbean paradise the u.s virgin islands offers some of the best retirement options in the caribbean it's a place for those who enjoy luxury living and yachting with its high-end shopping and harbors most of the people who choose to retire here are obviously from the united states and to some extent from countries like canada and the united kingdom also the official language here is english the currency is the us dollar and american citizens don't even need a passport to enter the islands furthermore it's one of the most developed areas in the region it boasts strong and modern buildings modern amenities and reliable cellular and internet service in most residential areas also when it comes to buying property on any of its islands you can expect to shell out millions of dollars number seven french polynesia french polynesia is an overseas collectivity of france with a collection of more than 100 islands scattered over the south pacific tahiti and bora bora are the most popular and biggest islands here they have wonderful beaches and the citizens tend to be open and friendly the living there is mostly easy and laid back the island's one drawback is clearly its cost of living french polynesia is the most expensive offshore territory in the world and property prices on any of its islands is immense but surprisingly people who typically buy property here are from the united states switzerland and france with that being said the beauty the languid pace the charm of the polynesian culture are incomparably seductive number six switzerland with its high standard of living low taxes excellent health care and the alps it's no wonder why so many richlings are choosing to retire in switzerland plus it's the safest country in the world in terms of everything political stability banking and even climate its traditional neutrality in international disputes has helped it become one of the safest and most secure countries in the world so if you can't feel secure with retirement assets in a swiss bank then you probably won't feel secure with them anywhere moreover there are specific cities and cantons in the country that are more popular than others whether you're craving the bustling and active city life or a peaceful and relaxing village retirement there's a canton in switzerland that will suit all your needs number five hawaii the usa hawaii is a state located in the pacific ocean about two thousand miles from mainland usa it's the most expensive state of all a trip to one of its local supermarkets in its capital city of honolulu is practically an exercise in high finance another downside of hawaii is that it taxes certain kinds of retirement incomes depending on your situation the state might not be tax friendly for you it doesn't tax public pensions but those who have a private earnings need to pay full tax and when it comes to real estate its median home value is almost 1 million dollars having said that if you're wealthy and like the idea of living an adventurous life it might be an ideal place for retirement number four the seychelles the seychelles is an archipelago of 115 islands in the indian ocean and east africa it's famed for its picture-perfect scenery palm-fringed white sandy beaches a stunning climate and an exceptionally high quality of relaxed life it's always attracted rich retirees from all over the world all thanks to its offshore industry and tax incentives additionally foreign retirees buying property in the seychelles won't have too much trouble finding the home of their dreams the average home price in the country starts at five hundred thousand dollars and can reach up to two million dollars number 3 the bahamas the bahamas is a sovereign country within the archipelago of the west indies it offers a very high standard of living and that can come with a very high cost this is largely due to the fact that most goods are imported and imports are taxed however for some wealthy retirees who choose to become residents in the bahamas the relatively high cost of goods and services can be more than offset by the lack of taxes on income inheritance gifts and capital gains all things considered it's an exceptional retirement destination for the wealthy as it can provide an extended risk bite for those with a high budget number two bermuda bermuda is a self-governing british island territory in the north atlantic ocean many think that this island is located in the caribbean but it's actually almost two thousand kilometers away from it it offers a slow relaxing pace of life that many rich retirees are searching for with plenty of locations that offer peace and tranquility it's just one of the costliest places to live in the world only rich people could retire in bermuda and most bermudans like it that way because the island earns most of its revenue from wealthy seniors and it offers no tax breaks unless you are a citizen additionally property prices on this island are over the odds even so that renting on the island is expensive the median rent for a three bedroom house on the island can cost up to fifteen thousand dollars number one the french riviera the french riviera is the mediterranean coast of southeastern france it includes famous beach cities as centro pay and the micro state of monaco although some of the places here are surprisingly affordable the only reason it ranked on this list is that it has long been seen as the playground for the world's most rich and famous plus it's a place that is filled with nothing but luxury and many international athletes celebrities and other millionaires have established some sort of base here property prices are understandably higher here after all you're paying to retire in a premium area

Channel: Skerry Harry

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Keywords: 15 Best Places to Retire for Wealthy Individuals, 15 places to retire for rich people, 15 high net worth retirement destinations, investing, retirement, retirement planning, 15 richest places to retire, places for rich people, 15 places for wealthy people, most expensive places to retire, countries, retire, 15 places for luxury retirement, 15 elite retirement places, luxury retirement, where wealthy people retire, millionaire's retirement

Id: RG2YKr9GuNM

Length: 13min 11sec (791 seconds)

Published: Sun Mar 06 2022