We spend our whole lives saving money for retirement – but do we save enough for a comfortable one? We want to spend our later years relaxing and splashing out with our hard-earned cash. But as time goes on, it becomes harder to do that with the money we earn.
Well, there are still places to live that are cheap yet beautiful. For just $150,000 you can enjoy an amazing retirement for many years in these locations. Do you want an adventure? Well, now’s your chance.
Ask the UK: more people than ever are applying to live in Ireland. It may be known for amazing castles, but don’t worry – you can find an affordable apartment to live in! You can purchase one for around $100,000.
If you’re in the EU, congratulations! You can move there no problem. However, Americans don’t have access to a retirement visa. If you want to move to Ireland, apply for a ‘D’ Visa which allows you to stay for 90 days. Once you prove steady income and sufficient savings of around 50,000 euros, you’ll be good to go.
You won’t need more than around $24,000 a year to live comfortably in Thailand. While it’s a bit more than other countries on the list, it will allow you to live absolutely anywhere in the region comfortably.
Once you prove you have the income to support yourself each year, you can apply for a retirement visa for a year. You will need to check in with Thai immigration authorities every 90 days, so consider your dates if you take yourself on holiday.
The population of Belize has been growing steadily in recent years due to its low cost of living and beautiful nature. And what with English being its most used language, there’s no wonder people are enjoying their retirement there.
To settle in Belize, you’ll need to spend 50 consecutive weeks there and prove that you can transfer $24,000 there every year. Since the standard of living is much lower than that (around $1,000), you will be there for many years ahead!
Slovenia is an eastern Europe hotspot that’s perfect to enjoy a long and affordable retirement. When you’re there, you can explore the country’s history, culture, and warm climate (but only in the summertime!).
There’s technically no retirement visa for those who are entering the country from outside the European Union. You can apply for a one-year visa and then renew it every year for five years. You have to prove income of around $1,000 and on the sixth year, you can apply for permanent residency.
It is widely understood that the cost of living in Vietnam is a little more than just $1,000. While there is no retirement visa, you can still move there on a one-year multiple-entry visa.
However, it’s important to note that you have to leave the country every 90 days. So, while you might enjoy the beaches and a gorgeous culture, take some time to visit the grandkids! You’ll need to learn some Vietnamese if you want to venture into the rural parts of the country.
Each year, Ecuador welcomes more Americans who are journeying down to enjoy their retirement. All across the country, you’ll find amazing towns and regions for as little as $460 a month. That’s pretty amazing!
We suggest you go down for a quick visit to see if you like the culture and climate. Then, you can apply for a pensioner visitor visa. All you need to do is prove that you are receiving $800 a month from overseas and purchase health insurance.
Chile is home to a bunch of friendly locals who are welcoming to retirement communities. You can live a middle-class lifestyle for around $1,000 a month. What’s more, it’s one of the easiest countries to move to. Here’s how:
First, visit Chile on a regular tourist visa. Once you’re there, you can change it to a retirement visa. The first stage is staying there for a year, and then you apply for permanent residency. It requires that you stay there for 180 days of the year, with no minimum income requirement.
Uruguay is one of the most affluent countries in South America – so why wouldn’t you spend your retirement there? The country has a stable and democratic country with culture charm, and white sandy beaches to safely walk along all day.
You can get a rentista visa there by proving you have a monthly income of $1,500 per person. Then, it is recommended you invest in private healthcare for around $100 a month. This will give you access to local and private hospitals.
Who wouldn’t move to Italy and enjoy its cuisine, culture, and climate? You can purchase a home in the Basilicata region for around $32,000 – not bad at all! Once you’re there, you need to prove that you have $35,000 a year in savings to contribute to its economy.
According to the World Health Organization, Italy’s healthcare system is the second best in the world. For $400 a year, you can purchase its coverage and not worry about getting sick. Then, sit back and enjoy the wine and cheese!
Did you miss the adventure of Machu Picchu in your youth. Well, now’s your chance to relive it in your retirement! Amazingly, all you need is around $1,500 to live comfortably in Peru. Even rent is only around $225 in Arequipa.
To get your visa, just prove you have an income of $1,000 and $500 for a dependent. This specific retirement visa also offers you a tax exemption from taxes owed on other visas there. Not too bad!
So, you’re going to have to bypass the major cities if you want to retire in Spain for less than $150,000. Valencia, for example, offers housing for around $600 a month, which is a great start. After that, food and activities are fairly cheap.
For your visa, you’ll need to prove you can afford in the rich parts of the country even if you won’t live there. This means you need to prove $30,000 of funds every year and receive a foreign visitor number. This number will allow you to open a bank account and pay your bills.
There are many beaches to choose from in Portugal when deciding to live there for your retirement. Each year, Portugal has more than 300 days of sunshine, making it perfect for older people who want to spend their final years in the summer sun.
To get to Portugal from the US, you need to apply for a visa from the Portuguese consulate in the United States. Once you arrive in your new home, you’ll need to prove an income, conduct a criminal background check, and obtain social security.
In Malaysia, you can rent a one-bedroom apartment for less than $300 a month. Even in Kuala Lumpur, the nation’s capital, you can find something for $550. Whether it’s the warm climate or amazing food, Malaysia might be the place for you.
Those who are over the age of 50 can apply for a renewable 10-year visa but have to prove a monthly income of $2,386. On top of that, you need liquid assets of more than $83,000. Once there, you can enjoy the charming culture and climate for decades to come.
Croatia is actually made up of around 1,000 small islands – so why not find one to live on? Generally, it is a quiet country with plenty of sightseeing in the day and relaxing at night. Here’s how you can live there for $150,000.
All you need to do is prove that you have your own funds, you own a property, or keep a yacht in its marina. Once there, you can buy a house for $100,000 and then seek a five-year residency card. Easy!
Across Panama, there are places where you could live comfortably for less than $150,000. Most one-bedroom apartments could be yours for just $1,000 a month. Even though the official language is Spanish, many people also speak English.
To enjoy a long retirement in Panama, you will need to prove an income of $1,000 from a reputable US source. Included in the visa are medical care discounts and reductions on your utilities. Better yet, there are no age restrictions, so you can retire early!
With so many people traveling north from Mexico, it seems crazy to think that people are also traveling south! For just $200 a month, you can rent a one-bedroom apartment in cities like Merida.
To enjoy retirement in Mexico, you need to apply for a temporary resident permit. This gives you access to travel between the US and Mexico for four years. After that, you can get a permanent visa if you can prove an income of $1,400 a month.
For the ultimate place people can retire, older couples are flocking to Costa Rica more each year than ever before. It’s a politically stable, safe, and beautiful country with constant new housing developments being built along its coastlines. But how much do you need to live there?
People are retiring in Costa Rica and live comfortably for around $1,000 a month! To qualify for a ‘pensionado program’ all you have to do is show proof of income or an established fund from which you’d be living off.
It might not be at the top of everyone’s minds, but Austria has some of the amazing European benefits withouts the high costs. Often named a healthy ‘Swiss Alternative’, the nation is peaceful, stable, and has plenty of natural beauty to explore.
To retire in Austria, couples will need to apply for a permanent visa once you intend to stay longer than six months. After that, all you’ll need to do is prove to authorities that you’ll be able to support yourself.
It might be quite far from your family and friends, but that might be exactly what you want! Older folks can fast-track their way to permanent residency in Australia by simply demonstrating their financial worth and current health status.
With its vibrant cities and relaxed nature, more old folks are turning to Australia now than ever before. You can choose between its two biggest cities: Sydney or Melbourne. Say G’day to all your worries and enjoy the relaxed vibes from the locals.
How would you like to retire in your very own castle? Well, the Czech Republic is considered the castle capital of the world! With more than 20,000 running all across the country, you’ll be able to enjoy the scenery alongside more than 6,000 American adults who now live there among the expat community.
Although there is no retirement visa, folks can move there and obtain long-term residency in certain situations. You’ll also have to prove an ability to purchase mandatory health insurance.
Malta is growing year after year thanks to its expat community and business opportunities. Despite this, living costs have remained low and people can live comfortably there for around $1,000 a month. What’s more, English is Malta’s official language and it has free healthcare.
Pensioners can apply for a renewable one-year visa and work your way up to permanent residency once you’re more settled there. According to those who went there on holiday, it can be a hard country to leave!
Bolivia has a bunch of cities that offer more than comfortable lifestyles for just $1,000 per month. It has the best of both worlds: big cities or small towns and plenty of culture to keep you entertained.
But you want to be careful: Bolivia doesn’t have great healthcare, so you might want to accommodate private healthcare into your budget. Once you’ve submitted proof of finance and pass a police check, you can settle there for the next few years!
If you don’t want to retire overseas, there are plenty of cities within the United States where you can enjoy a long and relaxing retirement. Scottsdale is a small city with only 200,000 and full of plenty of parks and eclectic streets to explore in your new spare time.
Another benefit to Arizona is its warm climate all year round and bright blue skies. Without the high costs of Phoenix, Scottsdale is a modest alternative for new retirees.
Cape Coral, Florida
You’ve probably already heard of many of your friends who have moved down to enjoy a retirement in Florida. Cape Coral is one of the best places to sit down and relax along the Gulf Coast. It carries the quintessential Florida vibes without the price or crowdedness of Miami.
For only a few thousand dollars, you can enjoy many years in the heat and sun with your loved one. Just make sure the grandkids come down to visit every so often!
The Woodlands, Texas
The median cost of rent in this Texan suburb is only around $1,300, making it perfect for retirees. The Houston region only has around 100,000 people, so you’ll be moving into a close-knit community.
As well as the low cost of living, there is a relatively low crime rate and constant hot climate. There are few reasons why you wouldn’t want to relocate to Texas for your golden years. What are you waiting for, then?
Some of us aren’t going to be able to leave the charming west coast. For those who don’t want to depart from that California life can consider Torrance. This small suburb is close to Los Angeles but doesn’t have any of the chaos attached to it.
As well as slightly lower costs of living, retirees will be able to enjoy the long coastal beaches of California, open access healthcare regardless of your citizenship, and the summer sun that lasts all year.
This Georgian city has some of the best parts of southern charm and love that the country has to offer. It makes sense that so many people are choosing to retire there year after year. Augusta has low crime rates, a high standard of living, all for an affordable cost.
Next time you consider going south for retirement (but want to avoid the Florida heat!) then you should consider the state of Georgia. The state has great healthcare and Augusta has two medical centers that are easily accessible.
Here’s another southern city that can easily be the setting for the next stage of your life. Its modest population of around 150,000 people means that it has a communal feel but it’s never too small for your liking.
In fact, Metairie is only a 15 minute drive from New Orleans. So, if you want to get some of that city living back (without paying the high living costs), then Metairie might be the perfect retirement spot for you.
Back to Arizona for a trip to Mesa and its charming yet affordable lifestyle. For just $900 a month, couples can live comfortably in a modest home that’s far away from the big city buzz. The Arizona weather means that it’s always warm and welcoming to out of towners.
Moving to Arizona wouldn’t be too far or inconvenient for friends or family who still wish to visit you. In fact, you might just be the perfect reason for them to explore this part of the world.
Due to its constantly hot and humid weather, Florida is proving to be a popular retirement home for millions of Americans and some Europeans, too. Lakeland is no exception: it is right in the heart of the Sunshine State.
For older folks, Florida has an amazing number of healthcare facilities which are perfect for those with chronic illness. Lakeland is a small town with a welcoming atmosphere. What are you waiting for?
Overland Park, Kansas
Many of us aren’t familiar with Kansas as a popular retirement spot – but there’s a lot to love about the Sunflower State. Overland Park is right in the middle of the United States, making it the perfect compromise spot for family reunions at Christmastime.
You might be there in December, but you won’t know it. Kansas boasts relatively warm winters compared to other towns in the midwest of the US. Just make sure to pack for a variety of seasons across the year.
Alabama is an incredible choice for retirement. Mobile is warm in the summer and a little rainy in the winter – but nowhere near as bad as other places. In fact, it has two nursing homes and some of the areas best hospitals. So, even if you get sick you’ll be taken care of.
Mobile has a population of around 190,000, making it a small and cozy city to settle into later in life. With its affordable lifestyle and low rent prices, it’s the new place to go and retire.
Indiana is another state that might not scream ‘retirement’ – but that’s exactly what makes it so appealing. Since the median income of the city is $35,000, Evansville is affordable for coastal city folks who choose to retire a little early.
If you end up missing city life, you can always take a short drive to Indianapolis. That way, you can engage with some home comforts for a bit without experiencing the city costs everyday. Why not give Indiana a try?
Wichita Falls, Texas
Talk about natural beauty! Wichita Falls has a little higher average income than other cities on the list, but that doesn’t mean you can’t retire there. Once you arrive in the Texan city, you’ll be amazed by all the amazing nature trails and scenery for walks.
Wichita Falls is a close drive to Dallas, meaning you’ll never be too far from big city life. If you decide to retire in Texas, then this gorgeous city might just be for you.
We’ve already seen Florida on our list a few times already, but each city in the state has something different to offer. Tampa is situated in the middle of protected oceans which means you have incredible access to natural sand and beaches.
Retiring there is a little different to other places in Florida. With only 350,000 people in the city, it’s easy to enter a community and form close bonds with like-minded people. There are also many healthcare options.
Charleston, South Carolina
Many older folks choose this southeastern city to retire in once they’ve had enough of New York or New Jersey. Charleston isn’t just any old town: it has a bunch of rich history to enjoy as well as beaches, restaurants, and leisure activities.
With all this – and two hospitals with strong healthcare – it’s not reason why folks are retiring down in South Carolina. As well as indulging in the historical aspects of the city, visitors can also experience plenty of outdoor activities.
According to The Simpsons, America has a lot of Springfields! Well, the one in Missouri is definitely up there as one of the best cities to retire in. You can rent entire apartments for as little as $700 – and the standard of living there is still low.
During the summertime, citizens can enjoy a mild and temperate summer. In fact, even the winters aren’t too bad either. Springfield is perfect distance from some bigger cities nearby if you catch the city bug.
Cedar Rapids, Iowa
With a population of no more than 130,000, Cedar Rapids is a tight and supportive community. The small city vibe makes it a perfect retirement spot for those who want a calmer end of their life.
Still, it’s not too far from other large cities in Iowa, such as Des Moines or Iowa City. So, if you ever feel like retiring in a place away from your friends, then why not give Iowa a chance? You don’t yet know what you’re missing!
Similar to Spain, you’re going to need to forget about Paris or any other major city if you want to settle in France for your retirement. You can find a small apartment in the town of Pau for around $500 a month.
As well as state healthcare, you’ll need to purchase insurance. Once you provide proof of financial stability, you can apply for a long-term visa stay. Each visa lasts for a year and requires the same, updated, paperwork each renewal.