Are you looking for affordable countries to retire in?
There is no reason to lower your standards of living in your retirement years. All you have to do is mobe to a country that is 50-60 percent cheaper than the US. The major expenses you should be looking at are housing, healthcare, food, and taxes.
Factors to be considered by US citizens while selecting a country to retire in:
1. Expenses. How cheap is your new country?
2. Culture in your new country
3. Food. Is the local food fit for you?
4. Compatability. Do people like Americans?
5. Getting dual citizenship.
Here are the 5 best countries to retire for the US citizens
Uruguay is a South American nation with a mild and fairly uniform climate throughout the year. The average temperature in the northern region is 54 °F and in the south is 48 °F. So, there are no major fluctuations in the weather. Which make Uruguay one of the best places to live for a retiree.
One-bedroom apartment on rent: 350.75 $
One time local meal: 15.64 $
McMeal at McDonald’s: 7.82 $
Malaysia is listed in the top 3 places to live in the world for retirees(According to a report by CNBC). It’s a South Asian country with English being one of their primary languages. Most locals are friendly and speak multiple languages(English included).
For those who prefer city life, Kuala Lumpur can be a good place to settle in. There are some really good shopping malls and other places where you can hang out with your loved ones. Plus, Malaysia is very cheap and you can live comfortably under $20k per year.
One-bedroom apartment on rent: 209.25 $
One time local meal: 2.38 $
McMeal at McDonald’s: 3.28 $
3. Costa Rica
South American countries welcome Americans and hence you will find a lot of them staying permanently or vacationing in the southern part of the continent. Food(in restaurants) in Costa Rica is not as cheap as it might be in other parts of Latin America but you can save a lot of money by preparing it yourself. A loaf of bread costs just 1.70 $ while it is available at $4 in a place like New York.
One-bedroom apartment on rent: 383.95 $
One time local meal: 7.88 $
McMeal at McDonald’s: 7.01 $
For those looking to spend their twilight years in Eastern Europe, Slovenia can be a good choice. Formerly a part of the soviet union, Slovenia still have maintained the Soviet-style buildings and the architecture. You not only get to spend your life in a lush green nature-friendly nation but also get to be a part of the history.
As for as, the cost of living is concerned, consumer prices are 48 percent lower than in New York City. Salaries are also quite decent(1,277.63 $ per month). You can apply for part-time jobs and add on to your savings.
One-bedroom apartment on rent: 382.67 $
One time local meal: 8.97 $
McMeal at McDonald’s: 5.61 $
5. Czech Republic
The Czech Republic is quite cheap for a European nation situated in the heart of the continent. It literally is a small country in the middle of Europe. So, commuting from one city to another is quite cheap and easy.
Renting an apartment in Prague is 75 percent less expensive than in New York City. Eating out is also relatively cheaper. Also, the country is one of the lowest unemployment rates in entire Europe(-2 percent approx).
One-bedroom apartment on rent: 478.60 $
One time local meal: 5.66 $
McMeal at McDonald’s: 5.66 $
All statistics in the above posts are taken from a reputed and trusted source called Numbeo. It is the best resource for backpackers and migrants wanting to plan their trip well in advance.
In conclusion, there are many more countries opening their doors for retirees from wealthy countries like the US, UK, and Australia. You don’t have to worry about being a black sheep in a foreign land as there are many other westerners looking to migrate to more affordable nations.