The No. 1 Place to Retire in the World Might Not Be On Your Radar — Plus, 9 Other Top Retirement Destinations With cost of living, safety and more to consider, a retirement relocation requires careful thought.

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

In 2024, 258,000 Americans relocated for retirement, per research from HireAHelper, an online marketplace that connects people needing moving assistance with local moving professionals.

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.

Related: Are You on Track for a Comfortable Retirement? Here's How Much Money You Should Save Every Month Depending on Your Age and State.

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

The study ranked 137 countries according to cost of living, healthcare quality, safety, air quality, elderly population percentage and retirement visa availability. Each area was rated on a scale of 0 to 100, then averaged to compile the final result.

Estonia snagged the top spot with a score of 79.41. "The Baltic nation combines reasonable living costs (55.9 cost index) with strong health care (77.7 index) and impressive safety levels (76.5 index)," the report stated.

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

Related: Here Are the Best and Worst States for Retirement in 2025, According to a New Report

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

"Estonia represents the sweet spot many retirees are seeking," Mariah Bliss, a spokesperson for Everly Life, noted. "You're getting Northern European health care standards and safety without the crushing costs of places like Switzerland or Denmark."

Norway and Portugal took second and third place for the best places to retire, according to the report. Spain, Australia, Canada, Latvia, Hungary, Malta and Italy rounded out the top 10.

Related: This Buzzy Retirement Strategy Is Helping Young People Escape the 9-5 Before Becoming Millionaires — Here's How to Pull It Off

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.