5 Best Places to Retire for $30,000 Per Year or Less

Retiring to an exotic destination seems so out of reach, but it doesn’t have to be. Those who want to fully take advantage of their retirement and live in a gorgeous place can do so and can do it without having to spend a ton of money to live. If you’re ready to retire or you’d like to move, so you can enjoy your retirement further, there are places to go where you can live comfortably or luxuriously on less than $30,000 per month. Check out the places below to see where you might want to live.

Costa Rica – $24,000 – $30,000

Costa Rica offers gorgeous views, natural wonders, and plenty of wildlife. Within Costa Rica, Central Valley and Puerto Viejo offer fantastic places to live, without a high cost. Many ex-pats live here, so there are other couples who are enjoying their retirement in the area as well. These cities both offer amazing weather throughout the world, as well as plenty of fun things to spend your time doing. Activities include snorkeling, hiking, and surfing. Yet, it’s also possible to do nothing and simply enjoy the views.

In Central Valley, it’s possible for a single person to live on around $21,000 per year. Couples can live comfortably on around $2,000 a month but can live a more luxurious lifestyle on around $2,500 per month or around $30,000 per year. In Puerto Viejo, along the Caribbean coast, it’s possible for couples to live comfortably on less than $24,300 per year. Couples can live on far less if they’re looking for a more comfortable life instead of a more luxurious retirement.

Portugal – $24,400 – $25,000

Like Cosa Rica, Portugal offers a number of options for those who want to retire for less. For those who want to be near the ocean and enjoy wonderful weather throughout the year, Lagos might be a great ion. There’s plenty to see and do, and it’s easy to get around without a vehicle. The area does attract tourists, but it’s not overly busy, and the prices don’t reflect the tourism.

Another option is Lafra, located near Lisbon and the gorgeous beaches in Ericeira. This town offers plenty of outdoor fun, along with a stunning look throughout the town and plenty of cafes and bars.

Both of these cities offer a wonderful place to live on a low budget. Those who opt for Mafra can find a couple will easily be able to live on around $24,400 per year. In Lagos, a couple can live comfortably on under $25,000 per year. The expenses do vary based on what the couple wants to do and how much they like to travel outside of the town they choose, but it is possible to live in Portugal without having to have a huge budget for basic expenses.

Italy – $20,500

The idea of living in Italy may seem far-fetched for those who are on a budget, but it doesn’t have to be. Volterra in Tuscany is a historic town that has plenty to offer. The area is known for being the place where the Twilight movies were filmed, but it doesn’t get many tourists, so it’s still a small, quiet town.

While a lot of Tuscany is very expensive, Volterra is not. Couples can live a luxurious life here for less, enjoying low real estate prices as well as everything else Tuscany has to offer. For retired couples, it is possible to live in Volterra for around $20,500 per year, or a little over $1,700 per month.

Ecuador – $20,100

Located in Latin America, Cuenca in Ecuador is a fantastic place to retire. The area has a temperate climate, so the weather is pleasant throughout the year. There are plenty of activities to do and tons of sights to see, along with festivals, restaurants, and more. Though the city does have a lot to do and see, it’s not an expensive place to live. Owning a vehicle is not necessary other than for traveling, the area is safe, and the cost of living is low.

In Cuenca, couples have plenty of options to choose from for where they want to live. A three-bedroom condo costs around $700 per month, and a two-bedroom condo runs around $500 per month. Depending on the luxuries the couple wants to take advantage of, it is possible to live in Cuenca for just over $20,100 per year.

Panama – $18,000

One of the best options for retirees on a budget is Volcan in Panama. The town is in western Panama, close to Volcan Baru, a volcano. The town is a small farming community, so it’s more of an ideal location for those who want a quieter retirement. Yet, it’s within driving distance of a larger city and a beach. The area offers hiking trails through forests and jungles, and, though the area is a quieter town, it does have local hangouts each weekend. It is necessary to know some Spanish to live here, but being fluent isn’t necessary.

Those who want to live a quiet, comfortable life during their retirement will find Volcan offers exactly what they need without a huge budget. Couples can retire in Volcan for as little as $1,500 a month or around $18,000 per year. This often leaves plenty of room in the budget for luxuries the couple may want or to travel more frequently, enjoying the scenery throughout Latin America and beyond.

Are you looking for an affordable place to retire? It is possible to retire in an exotic location on a budget, as long as you know where to look for an affordable home and a low cost of living. Each of the places on this list has a lot to offer for retirees, and they’re the perfect place to live if you’re looking for comfort on a small budget. Take the time to learn more about each of these cities to find out which one might be the perfect option for you.