Finance

Cheapest Places to Retire in the World

Sometimes we just want a cheap place to retire well. Here are some places where you can afford a comfortable retirement at low costs.

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Most people dream of a comfortable retirement, where they can live well without worrying about money.

 Unfortunately, in some parts of the world, you need to be extremely wealthy to retire comfortably.

In many cases, you need to have millions of dollars in the bank just to cover the basic costs of living.

But in this article, we are going to be looking the other way around. Here is a list of the cheapest places to retire in the world, some of them being able to live with less than US$ 1,000 per month.

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Costa Rica

This Central American nation, with its jungles, rainforests, contemporary towns, and beaches, runs from the Pacific to the Caribbean.

The country’s climate, environment, and costs vary from region to region, but altogether, they are about 38% and 72% less expensive than in the United States, respectively, according to data from June 2022.

Retirees have access to the amenities San Jose, a well-liked tourist destination, offers whether they want to live in the city proper or in the hilly environs.

The Pensionado visa, which is part of residency programs, needs a monthly income transfer to a Costa Rican bank for expenses of at least $1,000.

Portugal

Retirement travelers and tourists of all ages from over the world who appreciate its stunning scenery, coastal cities, wine, food, and warm climate have made Portugal one of the most sought-after vacation spots.

 Living expenses are roughly 37% less expensive than in the US, and housing costs are roughly 54% more reasonable.

These differences are even more pronounced in Lisbon, the capital, where rent is around 70% cheaper and living expenses are roughly 53% less.

Legal residents can register with the National Health Service to gain access to public hospitals and health centers and pay for treatments as they go.

There is also excellent healthcare accessible. Others have access to health care through private insurance, which is a requirement for obtaining a residency visa.

Thailand

Thailand is one of the most affordable countries in the world to live well on a limited budget.

This nation has attracted thousands of people because of its spectacular natural beauty, first-rate medical facilities, delectable local cuisines, and incredibly low cost of living.

The climate in Chiang Rai is nice all year round with different seasons. The region is full of options for exploration and recreation because it is surrounded by dense forests and cut through by streams and waterfalls.

 Small cities like Chiang Rai don’t experience the same demographic pressures as bigger cities like Chiang Mai and Bangkok.

 Because of this, there are lower expenditures for housing, healthcare, and leisure.

 However, retail centers and hospitals of the highest quality in the world are a short drive from the city core.

Montenegro

Montenegro, a well-liked vacation spot with a shoreline on the Adriatic and gorgeous beachside resorts, is beginning to catch the attention of people and retirees.

 It is a desirable area to retire from due to its lovely surroundings, European location, friendly residents, and affordable cost of living.

Rents are around 75% cheaper than in the United States, while the average cost of living is 48% lower.

The cost of living is 64% less expensive and the cost of housing is around 90% less expensive in Podgorica, the country’s capital and largest city.

As we can see, there are a lot of places you can retire without losing the quality of life.

The most important thing to understand is that these places are not as popular, but that doesn’t mean as good. Some people just want more peace, and that is very important for a good retirement.

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