NewsRetire Abroad on a Budget: 13 Affordable Destinations for Couples to Live...

Retire Abroad on a Budget: 13 Affordable Destinations for Couples to Live on $1,500/month

The Cost of Retirement Overseas: Affordable‌ Destinations for American Retirees

Retirement in the United ⁤States can be financially burdensome,⁣ with some⁤ popular states like Florida costing retirees⁤ up to $58,396​ annually. Due to ⁢these high costs, an increasing number ​of​ Americans are opting to retire abroad. In fact, by the end of 2021, ⁢nearly⁢ 450,000 individuals were‍ receiving their ‌Social Security benefits outside the U.S., a significant jump from 2008, as reported‍ by the Wall Street Journal.

Not all international retirement destinations are equal, especially⁢ for budget-conscious retirees. International Living recently published a list of 13 destinations where couples can comfortably retire for as little as⁤ $1,500 per⁢ month. To compile this list, International Living evaluated over⁤ 200 countries based on⁣ seven‌ key categories, including‌ housing, visas and benefits,​ cost of living, affinity rating, healthcare, development and governance, ‌and climate. Additionally, the availability of high-speed⁢ internet, ‌networking opportunities, and English-speaking locals or service​ providers were taken ‌into account.

While the highlighted ⁤cities and towns span ‍across the​ globe, certain countries stand out for their affordability. Mexico boasted the most cities on the list, with five destinations ⁢in Southeast Asia also making the cut.

Affordable Retirement⁤ Destinations in the Americas

-‌ Querétaro, Mexico
-‌ Isla Mujeres, Mexico
– Cozumel, Mexico
– Armenia, Colombia
– Arenal, Costa Rica

Querétaro, Mexico, located in north-central region just‍ a short​ distance from Mexico City, is⁤ one of the standout cities on International Living’s list. With a mild climate and convenient access to U.S. hubs like ⁢Dallas/Ft.⁣ Worth, Houston, ‍and Chicago, Querétaro offers a comfortable lifestyle. The estimated monthly costs for a single person in Querétaro ​are⁤ $744.50 ⁢before rent. By comparison, the ‍average rent for​ a one-bedroom apartment in ‌Querétaro ⁤is⁣ approximately $633, significantly lower than the $1,236 average rent in Florida, according to Zillow.

Affordable Retirement Destinations in Asia

– Penang, Malaysia
– Chiang Mai, ​Thailand
– Phnom Penh, Cambodia
– Kuching, Malaysia
– Hoi An, Vietnam

Chiang Mai, Thailand, is among the featured cities in Asia⁣ on International Living’s ⁢list. With its affordability and quality of life, Chiang Mai⁢ attracts many retirees looking to stretch their savings. The‌ cost of ⁤living in Chiang Mai is significantly lower than in major U.S. cities, making it ‍an appealing option for those seeking a comfortable retirement lifestyle.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe Today

GET EXCLUSIVE FULL ACCESS TO PREMIUM CONTENT

SUPPORT NONPROFIT JOURNALISM

EXPERT ANALYSIS OF AND EMERGING TRENDS IN CHILD WELFARE AND JUVENILE JUSTICE

TOPICAL VIDEO WEBINARS

Get unlimited access to our EXCLUSIVE Content and our archive of subscriber stories.

Exclusive content

Latest article

More article