Where do most millionaires retire?

CNBC has also crowned New York as the most expensive state to retire in, followed by New Jersey, Vermont, Massachusetts, and Maryland. California is also an expensive state to live in. Wealthy individuals love to retire to such places, offering them the best of shopping, dining, and other form of leisure.



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Spain is known for its fantastic culture and architecture in cities like Madrid, Barcelona, Valencia, and more. Barcelona, Spain, was even named the happiest holiday destination in Europe of 2023, according to Club Med. Spain tied with Italy as the No. 2 best country in Europe to retire.

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Bulgaria. Bulgaria is one of the cheapest and safest countries to retire in. Enjoying a rich history and culture, retirees get to experience magnificent beaches, ancient ruins, and delectable cuisine in the country. The cost of living in Bulgaria is, on average, 45.7% lower than in the United States.

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Retiring to Spain from the U.S.A. is perfectly possible. However, for stays of longer than 90 days, Americans need to get a visa to live in Spain. There is no Spain retiree visa, but there is a Spain long term visa known as a residence visa. There is also the Spain long stay visa called a “Golden Visa.”

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Portugal remains a top-tier destination for retiring overseas thanks to its climate, standard of health care, accessible residency options, friendly tax policies and diversity of lifestyle options. Tavira is widely regarded as the most authentic town in Portugal's ever-popular Algarve region.

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