A Tale of Two Retirements: Aging in France vs. the United States

By Jay Corless, edited by Adrian Leeds

As retirees worldwide dream of their golden years, many envision a life where they can enjoy their independence, live comfortably, and embrace the joys of retirement without financial stress. While France and the United States are worlds apart culturally, they share similar challenges regarding the rising costs of aging. However, the financial stress of aging in the U.S. is particularly pronounced.

While the dream of “aging in place” is enchanting, the reality has its price tag. This year’s Retraite.com and Silver Alliance Barometer take a deep dive into what it costs to grow older at home in France. Suppose you often dream of retiring to the French countryside or enjoying the twinkling lights of the Eiffel Tower from your cozy Parisian apartment. In that case, we look closer at the costs and differences of retiring in the two countries.

AGING AT HOME: FRANCE VS. THE U.S.

The dream of “aging in place” is a national priority in France. According to a 2022 Harris Interactive study, 92% of French retirees wish to remain in their homes for as long as possible. According to the AARP, this desire is echoed in the United States, where about 77% of adults aged 50 and older share the same goal. But turning that dream into reality looks very different on each side of the Atlantic.

In France, the cost of staying home averaged €1,260 per month in 2024, covering essentials like home care, medical equipment, and meal delivery. This marks a 3.65% increase from 2023. By comparison, aging in place in the U.S. carries an average monthly cost of $4,500 for home care alone, according to Genworth Financial. That’s without factoring in additional services like meal deliveries or home modifications, which can add thousands more.

Retirees in France

Both countries feel the pinch of inflation, but France’s robust social systems help cushion the blow. Programs like ‘100% Santé and the new “MaPrimeAdapt” subsidy, which provides financial assistance for home modifications to make homes more accessible for seniors, ensure that seniors can access free or subsidized medical devices and home modifications, significantly reducing out-of-pocket costs. In the U.S., Medicare offers some coverage for home health care. Still, the system is far less comprehensive, leaving many seniors reliant on private insurance or savings.

ASSISTED LIVING COSTS: VIVE LA DIFFERENCE?

Assisted living is an alternative for seniors who can no longer live independently, but it’s costly in both countries. In France, the average EHPAD (nursing home) cost was €2,310 per month per person in 2023. In the U.S., assisted living facilities cost a staggering $4,500 to $8,000 per month, depending on location and services. Whereas the price skyrockets for those requiring more intensive care, with nursing homes averaging $9,000 to $10,000 per month.

Farmers’ Markets in France

While France’s costs are lower, the system is straining. The Silver Alliance Barometer warns that the number of people aged 75 and older will grow by 49% between 2020 and 2030, putting significant pressure on the country’s already stretched care facilities. This growth in the elderly population could lead to longer waiting times for services and a potential decrease in the quality of care. In the U.S., the situation is similarly dire. The aging Baby Boomer population is expected to double by 2050, further stressing an overburdened healthcare system.

GOVERNMENT SUPPORT: A HELPING HAND OR A PATCHWORK QUILT?

France’s centralized approach to aging support starkly contrasts with the U.S.’s decentralized system. In France, retirees can feel reassured with the comprehensive government programs like the “Allocation Personnalisée d’Autonomie” (APA) that provide financial assistance for seniors needing care, while programs like “100% Santé” cover essential medical needs such as hearing aids, glasses, and dentures.

More retirees in France

In the U.S., support is more fragmented. Medicare covers basic health care for those 65 and older but provides minimal help for long-term care or home modifications. Medicaid offers more comprehensive coverage for low-income seniors, but accessing these benefits can be a bureaucratic maze, often requiring extensive documentation and long waiting periods. Private long-term care insurance is an option, but its high cost puts it out of reach for many.

PLANNING AHEAD: THE KEY TO AGING GRACEFULLY

Whether you’re retiring to the French countryside or settling into a suburban home in the U.S., one thing is clear: planning is not just essential, it’s empowering. In France, retirees benefit from a culture prioritizing social solidarity and comprehensive government programs. In the U.S., seniors often need to rely more heavily on personal savings, private insurance, and family support. But with the right planning, you can take control of your future.

Village life in France

The Silver Alliance Barometer offers French retirees a clear guide to the costs of aging in place, with average expenses tailored to different age groups. Whether in a Parisian apartment or a sunny California home, aging gracefully is a universal aspiration. France and the U.S. may have different approaches. Still, the goal remains: ensuring that our later years are spent in comfort, dignity, and security. Those golden years can shine with thoughtful planning and a little savoir-faire.

In addition to all the financial benefits of retiring to France, there are the cultural benefits and excellent healthcare. While saving a ton of money, thanks to public transportation and vibrant inner cities, you can let go of the need to own and operate a car. In France you can count on excellent healthcare at a fraction of the cost, or virtually no cost at all. Cultural things to do abound. Quality food products, a Mediterranean diet, natural exercise, and a more stress-free lifestyle means you can live healthier and longer. I can’t think of any downsides.

Bottom line: where would you want to retire?

A bientôt,