You’d love to retire but you just haven’t been able to save a lot of money. Or maybe the economy has scorched your investment portfolio. You’ve looked at the alternatives and you just can’t see how you can retire at this point. Well, there are cheap places to retire where you can stretch that pension, Social Security benefits or that investment portfolio to the point where you can actually have an enjoyable retirement.
If you want to make your retirement investments go further you may need to consider retiring abroad. There are many locations around the world that offer first world luxuries for third world prices.
So, what are 10 cheap places to retire around the world?
Let us take a quick stroll around the world in search of cheap places to live and retire. We are in search of a low cost of living compared to the United States. We will also finish with some cheap cities here in the USA. Let us start with 10 cheap places to retire abroad:
The cost of living in Ecuador is practically dirt-cheap. In fact there are expatriate Americans who say they are living comfortably on $17,000 a year. Quito is a world-class city that offers plenty of amenities. Plus, Ecuador’s economy is based on the US dollar, which makes it very easy to do transactions and make purchases.
Panama has become a very popular place for Americans because it has a very low cost of living, and incredible climate and good healthcare facilities. Plus every resident of Panama gets a large lump sum payment every year as part of his or her share of revenue generated by the Panama Canal so there is virtually no poverty in the country.
There is a reason why Panama is one of the top retirement destinations of expats.
This country now has a democratically elected government that welcomes people from the United States. Its capital is becoming a first-class city. Life there is very inexpensive and its laws regarding imports of goods such as vehicles are very flexible.
Most housing in Italy is priced much lower than the equivalent real estate in the US. You can live in the middle of beautiful, timelessly classic countryside or choose one of its major cities such as Rome where you can enjoy art, entertainment and architecture.
There is much to see and do in Italy especially if you love to dance and eat and have a good time living.
You can learn a lot about passion living in Italy and learning Italian.
Brazil is a great place in which to live because of its great people, pristine beaches, great weather and its many outdoor activities. You’ll never see all of Brazil because much of it is rain forest and it can be very human much of the year. However, in the winter you will not even need a coat you go outdoors.
Here is an exotic land full of beautiful people, interesting architecture, great beaches and a low cost of living. As of now, the Thai currency called the baht converts at the rate of 30 to the US dollar so that you can rent a very nice apartment or home for around $300 US.
If you want to live lavishly for not much money then you should definitely head over to Thailand. There is much to see and do.
The cost of living in Argentina is much cheaper than here in the US. It has a very charming culture, real estate is more affordable and much of the country is still rural. This means you can buy a larger piece of land than you would be able to hear the US.
In the northern part of Spain you can purchase a nice home for around $95,000. Spain offers all the modern touches you would expect from a European country, including the latest in medical technology. Its weather is one of the major reasons to move there as it has a change of seasons but you’ll enjoy all of them.
Costa Rica enjoys political stability, a low cost of living and is renowned for its biodiversity. It has 800 miles of coastline and housing is very affordable. Costa Rica has much beauty to offer at an affordable price.
Prices have gone up as more expats and baby boomers retire to Costa Rica but there is still much to be enjoyed here.
Belize has a tropical climate and some of the world’s most stunning beaches. It has low cost or even free medical care and you can even get a piece of property for as little as $17.50 a year in fact, Belize has the lowest cost of living in the Caribbean.
6 Cheap Places To Retire In The United States
Melbourne Beach, Florida
This beautiful small town is close to great places to visit, and has such wonderful beaches, will most likely see a constant parade of friends and children visiting you. Almost every home in Melbourne comes with an ocean view because few of them are more than a block from the ocean. Plus, it is just a 90-the drive from Orlando and all of the fun attractions it has to offer.
There is a reason why so many baby boomers choose to retire in Florida. Maybe it is time you learned firsthand.
Yucca Valley, California
This desert town has a population of 18,837 and offers a nice combination of cheap housing and a high degree of amenities. It is especially great for people suffering from arthritis because of its abundance of yucca plants and its warm, dry client.
This is the home of the University of Oregon and offers all the art, cultural and sporting activities you would expect from a college town. The median price of a home is just $242,000. If summer is just out of the world with free entertainment most nights such as marching bands, outdoor movies, concerts and live theater.
This beautiful city is in the Blue Ridge Mountains and just 70 miles north of Atlanta. It has bird watching, canoeing, horseback riding and many other ways to recreate. People can attend classes at the North Georgia College and State University free of charge. Dahlonega also has five local wineries.
This beautiful, small town is literally surrounded by the Rocky Mountains. In the winter it is a ski lovers paradise. In the summer it plays host to the longest white-water race in America. Salida offers great outdoor activities, such as kayaking, hiking, biking and camping. The median home value of a town in Salida is 185,500.
Did you know that this town has more sunny days than any other place on earth? It does according to the World Almanac Book of Records. You will definitely need air conditioning to get through the summers in Yuma as it does get hot but this weather comes with a positive. There is an incredible array of locally grown vegetables and fruits that are to die for and available at affordable prices. If you want to work, Yuma has a number of part-time and seasonal jobs. Its medium home value is $197,400.
If you want to avoid the cold winters of the Northeast US you can enjoy plenty of sun down in Arizona.
Now you have several ideas for cheap places to retire around the world and in the United States if you choose not to retire overseas. We gave you more than 10 cheap places to retire but of course we are all not looking for the same thing.
If you want sunny tropical days all the time you will choose some locations over others who can tolerate cooler even cold winter days. Take the time to write down what you truly want and you can begin to find your ideal retirement destination.
Learn more about where to retire cheap in the world: