9 Places to Retire Where $250,000 Will Last 30 Years
Retiring abroad has a lot of benefits, and quite frankly, one of the best benefits is, by far, the cost of living. While $250,000 may not seem like a large nest egg in the United States, did you know there are other countries in the world where you could live for more than 30 years comfortably?
If you don’t believe me, then you may want to read on. Moving out of the country won’t affect your social security if you’re receiving it or planning on receive it, and some countries offer a suburb healthcare system and amazing scenery.
The average couple spends an average of $1,300 per month for all expenses. Retirees often flock to this country because of the great landscape, amazing healthcare system and government benefits the government offers to its retirees. Living in the capital, for example, will cost you about $500 for a fully furnished 800 square foot apartment.
Located in the heart of South America, Nicaragua has a low price tag and a high quality of life. The government here offers a list of financial incentives to out of country retirees such as a sales tax exemption on building materials if you’re building a home. If Latin America is on your radar, Nicaragua has been number one on many lists stating it’s the best country to retire in.
If you’re looking for an exotic destination, then you may want to look no further than Thailand. Thailand offers retirement visas to those over 50 years old who meet income requirements. While Bangkok, the country’s capital, is pricey, it is still 65 percent cheaper than living in Chicago or Boston. If you’re planning on retiring here, you should be able to comfortably live on less than $1,500 per month.
With palm trees, a lot of blue skies and some amazing beaches, it’s no wonder why many flock to this country. Extremely budget friendly for retirees, you can rent an 800 square foot fully furnished apartment for less than $350. Do I need to mention this apartment is within walking distance to the beach? If that’s not enough, qualified United States citizens can apply for the country’s Qualified Retired Persons Incentive Program, which allows you to earn any income tax free.
#5 Costa Rica
Popular with tourists, this destination is also popular with retirees as well. For less than $1,900 per month, you can live quite well. In the capital of San Jose, for example, a fully furnished apartment can be yours for as little as $400. With an amazing natural environment, a ton of cultural attractions and top-notch healthcare, it’s no reason many choose this as a retiree destination.
With warm weather year round, this is a country known to be very welcoming to outsiders. As far as the cost of living goes, it will cost about $1,500 per month to live comfortably with rent and your utilities. If interested, retirees are encouraged to apply for the Malaysia My Second Home Program, which allows retirees to receive a long-term visa. Expats also note the economy is stable, the food is diverse and infrastructure is second to none.
Like Malaysia, Panama is very welcoming to outsiders and is known for its awesome tropical atmosphere. Prices in Panama are similar to the United States; however, if you were to go to the smaller villages, you can find affordable housing and utilities on par with the other countries listed on this list. Panama also offers the Pensionado Program, a program which allows foreign retirees some great discounts on flights, hospital visits and utilities.
Known for its low cost of living, Portugal offers a decent infrastructure, great services and a fabulous health care system. In Algarve area, for examples, more than 100,000 retirees live here for less than $1,400 per month. This fee includes everything from the rent to even an entertainment budget that includes movies and eating out.
The last place on my list brings us to Vietnam – a popular country in the Southeast Asia area. Similar to Thailand, Vietnam offers spectacular scenery, delicious food and rent 70% lower than the national average. For less than $1,000 per month, this should cover everything from your rent to your entertainment.
I’m not retiring anytime soon, but ever since my uncle moved to Mexico for his retirement, it sort of piqued my interests. There are so many great countries out there that are willing to open their arms and accept you as a resident. While I did talk highly about all nine of these countries, do keep in mind every country will have a downside as well. If you’re thinking about retiring out of the country, plan a trip or two to get to know the environment, culture and politics. If you act like you’re living there, nothing will beat the real-world experience to see if you will truly like it.
About The Author: Stephanie Lynch is from Howmuchisit.org – a cost-helping database dedicated to helping consumers find out what unknown things cost in life.
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