Aelos
Why France

The serious case for retiring in France.

It rests on three things: care you'll actually use, a 1994 treaty that keeps your US retirement income taxed only at home, and day-to-day prices most US cities and towns stopped offering years ago. Here is the full case, numbers included.

Read the full caseFind your France
Why France

The postcard, fact-checked.

What French healthcare actually reimburses, what daily life actually costs, and what the numbers look like next to the town you'd be leaving.

1st
travel destination on earth

The world's favorite country

Thirteen regions, each with its own landscape and culture. Alpine peaks, Mediterranean coast, medieval villages. Castles and cathedrals, museums and markets — and, obviously, the food.

+4 yrs
life expectancy vs US (Source: UN)

Healthcare that still feels human

Get the care you need. No networks, no deductibles, no surprise bills. Universal coverage through Protection Universelle Maladie — France's public healthcare system. Residents are covered after 3 months. A separate health contribution can apply if you live mainly off investment income. plus a small Private complementary insurance that covers what PUMa doesn't. A couple in their late 60s typically pays around €250 a month; premiums rise with age. — at about half what the US spends per person.

8
border neighbors

All of Europe, at arm's length

Land borders with Spain, Italy, Switzerland, Germany, Belgium, Luxembourg, Andorra, and Monaco. Train à Grande Vitesse — France's high-speed rail network, reaching 200+ mph. across France in hours. As a resident, you skip the The Schengen area — a 29-country European free-movement zone. As a French resident, you cross internal borders without passport checks. entirely.

Tucked into a 1994 treaty

Americans retiring in Europe usually pay more tax. In France, they often pay less.

Almost everywhere in Europe, residents pay local income tax on their worldwide income. Foreign tax credits keep you from paying twice, but not from paying more: you owe whichever country charges more. In Europe, that's almost always Europe.

France is the exception — and only for Americans. Under the US–France tax treaty, US-source income (Social Security, 401(k), IRA, pensions, capital gains on US investments, and rent from US property) is taxed only by the United States. France doesn't layer its own tax on top. Then state tax drops off too: under US federal law (4 United States Code, Section 114) that blocks states from taxing the retirement income of non-residents. The provision that makes your former state drop off your tax return., your former state can't reach your retirement income once you've properly established non-residency. All of it is still declared in France each year. That's exactly the filing Membership handles for you.

Income tax your new country collects on a US retirement income
France
None
US-source retirement and investment income is taxed only by the US under the 1994 treaty. France adds no income tax and no CSG/CRDS on top.
Spain
19–47%
Worldwide income taxed at progressive rates — pensions and IRA withdrawals count as general income; investment income 19–28%.
Portugal
14.5–48%
The NHR scheme that drew retirees closed to new arrivals in 2025 — new residents pay standard progressive rates on pensions.
Italy
23–43% + local surtaxes
A 7% flat regime exists, but only in small southern towns, for ten years at most.
Top statutory ranges on a tax resident's worldwide income, 2026. Treaty credits prevent paying twice — you pay the higher of the two systems. And on income the US exempts, like a Roth withdrawal, there's no US tax to credit against, so the local rate is a pure addition. Details vary by treaty and situation; your advisor models yours. One French charge sits outside the treaty entirely: residents on public healthcare who live mainly off investment income, with no pension income in the household, can owe the cotisation subsidiaire maladie (the "taxe PUMa"), about 6.5% on investment income above an allowance. It's a health contribution rather than an income tax, so the treaty doesn't touch it, which is one of the first things we check for portfolio-funded households.
Where, exactly?

Fifty-five towns, scored against the retirement you want.

Nine questions about the life you want, three minutes. We score fifty-five retirement-ready towns and cities on sixteen factors of official French data (sunshine hours, doctor access, real property prices, hospital drive times) and show our reasoning for every match, including the honest tradeoffs.

Take the three-minute quizExplore the towns
No email needed to see your matches. Every fact is sourced and dated.
The savings are substantial

See your own numbers.

Your household retirement income
Social Security
Taxed only by the US · treaty Art. 18
$35,000
401(k) / IRA withdrawals
Taxed only by the US · treaty Art. 18
$60,000
Roth IRA withdrawals
Tax-free in both countries
$10,000
Dividends / Rents / Capital Gains
US-source · no French income tax (a health contribution can apply)
$40,000
The state you're leaving
Assuming a typical ≈6% effective rate —
Effective state tax rate
Set it to match your last state return
6%
How you like to live
Pick the closest to your household's monthly spending today.
Your picture, in France
on $145,000/yr

US federal tax stays the same, since US citizens are taxed worldwide. What changes:

  • State tax drops to $0. Once non-residency is properly established, your former state can't reach your retirement income (4 U.S.C. §114). Most states already exempt Social Security, so we don't count it in this figure.
  • French income tax is $0 on US-source retirement income, capital gains, and US rental income — taxed only by the US under the 1994 treaty.
  • No CSG/CRDS (the 9.7% French social charges) on that income either.
  • One charge sits outside the treaty: once you're on French public healthcare with no pension income in the household, France can assess the cotisation subsidiaire maladie (the "taxe PUMa") — 6.5% on investment income above the first ~$26,000, or up to $910/yr on the income you entered. Retirees drawing Social Security or a pension have in practice been exempt. Your advisor confirms which side you're on.
Why the same life costs less in France:
Healthcare
PUMa + mutuelle replace Medicare, Medigap, Part D, and dental, at a fraction of the premiums.
Housing
Comparable homes rent for 30–50% less than in US metros, outside Paris.
Getting around
Trains and walkable towns replace car ownership. Many couples drop to one car, or none.
Food & dining
Groceries run ~35% cheaper, and restaurant prices already include tax and tip.
Plus utilities, insurance, and entertainment, partially offset by higher cross-border tax prep. Aelos' spending comparison of a typical household measured ~45% lower costs; we apply a more conservative 40% to the lifestyle you picked. Your advisor will model your actual mix.
Your total annual savings
$44,400
Over
years
$1.11M
Email yourself these numbers
Rough estimate for illustration. Assumes properly established French residency and non-resident state status. Cost-of-living savings apply the Aelos spending comparison to the lifestyle you picked. Not netted out above: a possible French health contribution (the "taxe PUMa") of up to $910/yr on investment income. It mainly applies to households without pension income, recurs yearly against the multi-year figure, and isn't offset by the treaty. Your advisor will model your actual situation.
Already in France? This is the same math Membership keeps current for you, year after year.
Before you commit to anything

Book a free call with an Aelos advisor.

Thirty minutes, no pitch. About a third of these calls end in “not now,” “do it yourself,” or “France isn't right for you.” If it is right, you'll leave knowing exactly what to do next.

Ali Benslimane
Ali Benslimane
Aelos co-founder. Every consultation is with Ali, not a sales team.
30 minutes · free · no obligation
What we'll cover
  • 01Your personal tax picture, both countries
  • 02Visa and residency strategy
  • 03Healthcare planning and enrollment
  • 04Cross-border estate planning considerations
  • 05A clear next step — Go/No-Go if you're planning, a gap review if you're already in France

Already decided? See how we run the move, end to end →

Two years from the move, or three years past it? The rules keep moving.

Treaty changes, visa updates, healthcare shifts, and stories from members already living in France. A free newsletter, straight to your inbox, whether you're still planning or long since landed.

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The Journal

Retiring in France, explained.

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