Cheapest Places to
7 Cheap Retirement Places to
Experience Financial Freedom
For frugal retirement living at its best, consider relocating to one of the cheapest places to retire. Here are seven cheap retirement places where you can live in financial freedom on an average retirement income. Note: all money references are in U.S. dollars and all temperatures are in Fahrenheit.
Retire to Argentina - Classy Living
Argentina is a top pick for many as a place to live in retirement. Buenos Aries is a great city of culture with a European-like feel and sometimes even referred to as the “Paris of South America.” Yet the cost of living is much cheaper than the U.S. or Europe, making it a favorite for retirees on a budget.
For those who prefer a more peaceful setting, the countryside is a beautiful place to settle. Healthcare in the larger cities is good. The average temperature varies from around 50 degrees in the winter to about 75 degrees in the summer.
Retire to Costa Rica - Perfect Weather
A perfect, average year round temperature of about 72 degrees makes Costa Rica an attractive place in which to relocate in retirement. Imagine never being too cold or too hot again! The cost of living is a bit higher than in some of the other countries highlighted here.
In spite of that, Costa Rica makes the list of cheapest places to retire because you can live quite well on a small income. Other things that make it attractive are its beautiful beaches, stable government, affordable medical care, and low crime rate.
Retire in Ecuador - Luxury for Less
Cuenca, Ecuador is considered by many experts to be one of the best places to retire because of its affordable cost of living, temperate climate, and beautiful scenery. A couple can enjoy a nice lifestyle which includes a luxury apartment with maid service for under $18,000 per year.
Many people enjoy the weather, which is moderate year round, with an average temperature of around 60 degrees. Health care is first-class and costs only a fraction of what it would in the United States.
Retire to France - Surprisingly Affordable
If your heart is set on European living, you may want to consider making your retirement home in France. Yes, Paris can be expensive to live in, but you can live in some parts of France for under $30,000 per year!
In France you will enjoy world-class health care, excellent public transportation, easy access to all of Europe, and, of course, the best in cuisine.
Retire to Mexico - Cheap Living Nearby
For Americans, one of the cheap places to retire that is close to home is Mexico. The low costs, culture, warm climate, availability of excellent health care, and easy access to the States make it an ideal choice.
Prices vary according to lifestyle and location throughout the country. A couple can live well for about $2,000 per month, including housing, food, entertainment, health care, and even the services of a maid and gardener. Though drug-related crime is a problem in some areas, many locations are safe.
Retire to Panama - Discounts for Retirees
Panama is a place that welcomes retirees, offering them substantial discounts on food, transportation, entertainment, recreation, utilities, medical treatment, and other services.
The infrastructure is well developed and top health facilities are available. Panama also boasts a low cost of living and a favorable climate. Imagine living comfortably in a town by the beach for $20,000!
Retire to Thailand - Cheap Living in Asia
Thailand is another of the cheapest places to retire, and with good reason. There are many economical places to live even though Bangkok may no longer be as affordable as it once was.
My friend, Lee, rents an apartment in the beach city of Pattaya for just over $300 per month. Along with utilities, food, transportation, entertainment, health care, and other necessities, it is quite possible for a person to live comfortably there on less than $1,000 per month.
A Word of Caution about
Cheap Places to Retire
Moving to one of the cheapest places to retire is a great way to stretch your retirement income. However, relocating isn’t for everyone.
Return to Frugal Lifestyle
If you are interested in moving to one of these places, do your research first. Take a vacation there. Then, try it out for six months before making a final decision.
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