The Eight Best Countries for Americans to Retire To (That Aren’t the US)

The vision of each of what retirement looks like is different. Some dream of browsing the world, while others look forward to an afternoon nap that lasts decades. The only thing on which a growing number of people get along? It is a challenge to offer retirement to the United States.

Only half of the Americans have retirement savings at all, and most of them who do not have enough hiding places to live. In fact, more than 17 million Americans over 65 are financially unlikely. Meanwhile, the cost of living in the United States continues to increase, even if safety nets like Medicaid have their cuts cut. Put all this together and it is not surprising that an increasing number of people plan to retire abroad, in countries where their dollars extend much further.

However, it is not because the cost of living is low that a country is an excellent choice for retirement. You must find a balance between cheap life and other factors, such as health care and safety. In addition, you must find countries where income requirements for the residence are low enough for your little egg nest to qualify you to go – and if you are going to trust only social security payments to your retirement, you need countries where the cost of living falls below average payment, which is currently $ 1,976.

After considering all these factors – and recognizing that the needs of each person are different – there are eight countries where you can retire cheap and live well.

Costa Rica

Only one person can live with around $ 900 per month (not to mention the rent) in Costa Rica, which is considered a modern and stable country with an excellent health system. There is already a community of robust expatriates of Americans who live there, which can make a softer transition if you do not speak Spanish well and / or have not lived abroad before. Of course, all these expatriates also push the cost of living upSo do not assume that your budget will work indefinitely, but it will always be much cheaper than almost everywhere in the United States

Income requirement: $ 1,000 per month

Panama

You can manage in Panama for about $ 800 per month (excluding rent), and the US dollar is an official currency in the country, so you don’t have to worry about converting your money. Panama openly courts American retirees and offers tons of discounts and advantages to attract them there. You will have to ask for a visa in Panama, you will need a Panamanian lawyer, and you will probably have to learn Spanish, but once you are there, you will enjoy a stable and prosperous culture and a relatively easy trip to the United States if you want to visit your family and friends.

Income requirement: $ 1,000 per month plus $ 250.00 per month for each charge

France

Believe it or not, one of the best tourist destinations in the world is also a great place to retire. The cost of living (excluding rent) is a little higher at around $ 1,100 per month, but you will have access to one of the best health systems in the world for a fraction of what would cost here. The United States also has a tax agreement with France, so your retirement accounts will be taxed at US rates instead of much higher French rates. France is a complex country, however, you will therefore probably have to hire a French lawyer to go through the retirement process there – and you must certainly learn French.

Income requirement: Three times the monthly minimum wage (currently about $ 2,100)

Malaysia

Malaysia is incredibly Affordable – although the income requirements are higher, the cost of living for one person is only about $ 550 per month (without rent), and rents are not very high either. The country has a primary health system, and English is well supported. But be careful: go to and from Malaysia is not always easy, so you do not move between the United States and your retirement home. And it’s a fairly hot and humid place all the time, so don’t choose it if you are looking to avoid perspiration.

Income requirement: $ 2,370 per month, plus $ 83,000 in assets

Spain

Like France, Spain is generally not discussed as a retirement option, but it should be. Although the income requirement is relatively high, the cost of living (without rent) is a comfortable $ 850 approximately, which allows you to access a beautiful country with a rich culture which also offers very low crime rates, excellent health care and (it probably goes without saying) incredible food and lifestyle.

Income requirement: $ 2,700 per month.

Ecuador

The equator is super cheap, costing about $ 535 per month, not to mention the rent. In addition, its official currency is the US dollar, so you don’t have to worry about exchange rates. If you are looking for a lifestyle that focuses on natural beauty, this is the place you want to be. The health system is surprisingly large (and affordable, even if you have to pay for private insurance).

Income requirement: Three times the unified basic salary ($ 470 per month), so about $ 1,410

Portugal

Portugal is a magnificent country with excellent infrastructure, great health care and many beautiful places to call. Without the rent, its cost of living is a thin $ 805 per month, but note that you will not be eligible for free national health care until you have lived in the country for at least five years, so prepare to pay private health insurance. On the other hand, Portugal reorganized its tax system a few years ago to offer 10 years of tax loss and exemptions from eligible expatriates, which could help compensate for these costs. English is also very commonly spoken, making it an easy place to pass.

Income requirement: $ 1,025 per month

Thailand

If you pinch every penny, Thailand could be ideal: the cost of living is a super-basic of $ 621 per month (without rent), while the health system is excellent (and affordable), and the country is magnificent. However, Americans will probably be in a little culture shock, so it’s probably a good idea to visit the country first to make sure you can adapt and take advantage of your very cheap retirement.

Income requirement: $ 2,000 per month