Cheapest Places to Retire

In this travel blog, discover the 10 cheapest countries to live.

#10 Peru

Have you ever dreamed of settling yourself in a place where you can enjoy peace of mind? If yes, then this first cheap country on our list might just make your dream come true. Peru has a lot of wonderful scenery. From its vibrant cities, mountainous regions, and quiet farming towns, you can feel at ease with what you have been fantasizing about. It doesn’t matter where in this country you stay, because the cost of living will not be expensive. Based on the study of International living, you can actually live comfortably on only $1,500 in a month, or even less! The organization also claims that you can get a cheaper apartment in Milaflores, which is an upscale district in Lima where you can rent for only $800 a month! If you plan to settle yourself in this country, be sure you withdraw $1,000 from your retirement savings so you can secure a “Rentista Visa.” You are not allowed to work, and you have to stay in the country for at least six months each year. After seven years, you are qualified for a “Permanent Visa”.

#9 Czech Republic

If you are seeking an affordable place somewhere in Eastern Europe, then the Czech Republic is here to mesmerize you with its superb balance of affordability and safety. Its real estate costs will stun you with how low they are compared to other parts of Western Europe. They are based on the Expat Focus, a global travel website. Aside from the unbelievable costs, there are a lot of activities you can enjoy outside. If you happen to be a history or fantasy enthusiast, then this is the perfect country to settle in. The Czech Republic is famous for being the castle capital of the globe. The popular Prague Castle is still on the ground and has been standing strong since the middle ages! As a matter of fact, the country is said to be home to 20 monuments that are recognized by UNESCO as cultural and world heritage sites. Their culture is rich, and it’s an interesting place to live.

#8 Spain

Looking for world-class value of life with minimal spending? Is that really possible? Well, Spain has something to offer with its splendid diversity. In addition, its good weather, fascinating history, lower cost of living, and ability to entertain people makes it one of the top choices to retire abroad. Aside from those impressive perks, the healthcare system in this country is world-class, a significant benefit, especially for retirees. With other features such as an efficient public transportation system, unlimited access to high speed internet, and the comforts of home, Spain truly is a gem.

#7 Costa Rica

Garnering one of the highest standards of living among the areas in Central America and being one of the most affordable countries to retire abroad, Costa Rica can help you live a luxurious lifestyle without taking money out of your retirement! With $1,500 you can rent a place for a month, savor some delicious food, and have fun with the variety of entertainment activities, which are much cheaper than Canada or the USA. It also welcomes tourists with several dining choices, theaters, galleries, and a one of a kind experience that is worth trying. Explorers may challenge themselves to reconnect with nature by trekking the rainforests, visiting the numerous beaches, and wandering around the small towns next to nothing but a natural oasis. Aside from these amazing perks, retirees can enjoy Costa Rica’s excellent health care system and vibrant atmosphere which makes this country one of the best places to live!

#6 Colombia

Feel the sincerest hospitality, witness an array of climates, capture the picturesque beaches, and experience the modern services of this country that are remarkably cheap and easy to settle into. Gaining residency in Colombia is incredibly easy, you can obtain it in as little as an hour in some cases. Now, what makes explorers and retirees choose this place? If you’re a fan of the ocean, jungles, and heat then Colombia’s climate and landscape would suit your taste. The country’s weather is practically unbeatable! There are various options of where to stay in Colombia which will overwhelm you. The cost depends on what you can afford, and you can choose your preferred climate or environment. Would you believe that an average couple can live comfortably with only $1,200 a month? With that budget they can enjoy reliable internet services, access to one of the finest and most affordable healthcare systems in the region, and fresh fruits and vegetables all year round! Wouldn’t that be amazing?

#5 Mexico

You don’t need to roam all over the globe to search for affordable places to retire. Mexico has been successfully maintaining its spot as one of the thriftiest sites to settle. If you are a foreigner who happens to choose this country to live in, then you won’t have to worry about language. English has been widely used, specifically in the expat communities. You might find familiar stores that sell some products you know, plus the modern amenities you can enjoy for a cheap price. In fact, all of the perks are pretty much lower than in the US and Canada, and you won’t have to spend $100 on groceries every week. You can get them for only $20! Also, you can receive healthcare at a lower cost. What makes it even more astounding is that the property taxes are so low that you may not notice that you are paying them.

#4 Malaysia

Planning to move to Asia? This Asian country seems to be the most inexpensive and ideal place to stay. Malaysia has been boasting its low cost of living, which attracts foreigners from Britain and Australia to move there for good. This is also the perfect selection for those who are seeking an exceptional destination. Retirees can rent an apartment or house of their choice as some expats do. In some communities, there’s a 1,600 square foot apartment with a pool as one of the amenities to enjoy. Rates are only around $850 per month. Besides the thrifty rental, they can also enjoy local cuisines. Being able to pick cheap Asian airlines can let you explore areas without emptying your wallet. If you prefer top-notch charm for a modest price, then include Malaysia on your list as a destination.

#3 Panama

As you figure out the perks you can gain in this country, one thing is certain. You are lucky enough to experience the world’s best retirement offer! In Central America, Panama proudly exhibits its “Pensionado Visa.” To qualify for this, you must have a lifetime pension for over $1,000 a month. You’ll be able to benefit from the discounts which may seem too good to be true. Some of the discounts you can obtain are 20% off in medical services, half off in entertainment, and 25% off of restaurant meals, air fare, and electricity and phone bills! Your hard work will really pay off with these unbelievable benefits. Panama has also been known as the friendliest country to foreigners, and it’s not that hard to find and gain new friends. Explorers can also soak in some gorgeous beaches, azure waters, reliable and fast internet connection, outstanding roads, and excellent healthcare. This wonderful country can help one live a splendid lifestyle without leaving every resident penniless.

#2 Portugal

Thinking of an area or site in Europe where you can spend less and still live the lifestyle of your dreams? This sunny country of Portugal happens to possess an authentic low-cost of living which is far less than any other countries in Europe. In fact, most retirees can even save up their full pension without tax, based on the new law that aims to preserve the hard earned money of retirees and spend it only on significant things. There are a variety of places that retirees can go, such as golf courses, dazzling beaches, and historical towns. Foreign retirees won’t have to worry about their safety, as Portugal is known to be one of the safest countries and offers a first-class healthcare system. Language is not a big deal as English is widely spoken whether you are in a coastal or bustling community. This place could be a great retirement choice.

#1 Ecuador

The top country on our list remains at the highest rank in terms of the cheapest countries to live or retire. This is not only because of its friendly-cost estate value, but because of the government performing their duties and responsibilities very well. They are able to fully implement generous benefits for retirees. Some of the perks include discounts on airfare from Ecuador as the origin, plus over 50% off going to movies, sporting events, public transportation, and utilities. Can you imagine? It is indeed a dreamy place to live. Aside from its extremely low cost of living, because of their efficient public transportation, people find it hard to own a private car which can lower the living cost even more! So, how much will you need for a month? According to locals, a couple can survive by only having $1,400 per month, inclusive of a rental fee. The diverse climate and nature of Ecuador offers every retiree a chance to get to know the county’s mesmerizing culture and unique experiences.

Thanks for reading, Revelers! Spending decades of your life committed to work definitely deserves an enjoyable lifestyle. Which one of these thrifty countries would YOU choose as your retirement? Comment below, we’d love to hear where you’ll stay!