Are you thinking about moving to a sunny destination as you welcome your life after retirement? Many people find joy in staying in a place with comfortable all year round. However, it is also worth considering moving out of the country and exploring foreign cultures. While this might sound too expensive, understand that plenty of retirees are already living this life.
Despite what many people would have you believe, there are plenty of countries where you can retire without putting a huge dent in your pocket. Of course, you will want to live somewhere you can afford. The last thing you want is to move to a new location that requires you to take on the job again just to accommodate the high cost of living.
It is important to choose a place with affordable housing, medical care, food, and other basic services. Once you are done determining your monthly budget, it is time to know what countries fit the bill. Here are 7 cheap places to retire.
For many years, Thailand has been one of the most sought-after countries by retirees. This is mainly because of the country’s beautiful weather and affordable cost of living. In particular, you may want to check out Chiang Mai. The cost of living in this place is cheap even by the standards of locals.
If you get the chance to speak with retirees in Chang Mai, then you will find how happy they are with their current lifestyle. For instance, living under $2000 each month will allow you to live like royalty. You can afford a large condo unit and have so much money left for other monthly expenses including groceries and recreational activities.
And speaking of recreation, you can expect to stay busy throughout the year in Thailand. There are numerous beaches to enjoy a lazy afternoon or visit its beautiful temples. They also boast of some of the most delicious cuisines in the world.
Many retirees tend to overlook Guam, but it is well worth checking out. And since it is part of the US, you will have less to worry about when it comes to dealing with the paperwork. You will also have an easier time adjusting to the local lifestyle, as you can expect very similar culture and politics to other places in the US.
There is a reason why some people consider Guam as a more affordable alternative to Hawaii. Both places share the same climate, so you can expect to get some sun throughout the year. For under $1000, you can already get in average size studio apartment in Guam. It’s important to note, however, that some products may be more expensive than what you usually see on mainland US because most of them need to be imported.
Spain takes pride in its rich and colorful history, and you can get a piece of it by deciding to retire in this beautiful European country. Following the sub-prime mortgage crisis, property values have decreased significantly over the years. This makes for good news for retirees, as you can rent studio apartments for less than $500.
There are plenty of open air markets in Spain, where you can shop for everyday items at very affordable rates. There is also free public health coverage, and the cost of medication is considerably lower compared to the US.
Buenos Aires is popular for its colorful city, but many retirees also include it in their 7 cheap places to retire because of its affordable housing options and basic services. It pays to note, however, that there are other cities in Argentina where you can live or even less, but Buenos Aires never fails to attract foreigners because of its rich culture and tradition.
You can rent an apartment unit in when a site is for under $500 per month. Transportation is also affordable, costing you only $16 for using a monthly pass for their subway system. The good news is that there are plenty of European style cafes, nightspots, and restaurants. These establishments should remind you of your hometown while enjoying delicious food and drinks at a fraction of the cost.
Guatemala City may be unfamiliar to you, but it is such an interesting and historical city. Volcanoes encircle Guatemala, providing it with a picturesque backdrop that never fails to capture the attention of foreign travelers. More interestingly, this is where Mayan traditions continue to live. So if you have a special fascination for history, this place should rank high on top of your list of 7 cheap places to retire.
You can find waterfront houses for rent across the lake, providing you with an excellent view every day. It will only cost you about $300 per month. A fancy three-course meal will only set you back $22. And if you require assisted living, you can hire a personal nurse for just $15 per day.
You probably know that Southeast Asia is home to some of the most affordable retirement countries in the world. If you are looking at this region, then pay particular attention to Malaysia. It is the only country in Southeast Asia that ranks in the top 50 list of countries in terms of safety. Many people do not consider this factor, but retirees must always prioritize their safety considering their age.
Applying for Malaysia My Second Home program is your ticket to living permanently in the country. This multi-cultural island nation takes pride for its affordable health care, beautiful housing options, and mile long beaches.
These 7 cheap places to retire are excellent places to live a comfortable, enjoyable, and affordable retirement living. Residing in a foreign country may not have your crossed your mind before. However, it is well worth looking into especially if you want to explore new cultures now that you have so much time in your hands. Just make sure to prepare your budget accordingly as even though the countries mentioned above have an affordable cost of living, it is still up to you to manage your resources.