Whether you just want a relaxing beachside retirement or you’ve decided to spend your golden years abroad, sometimes the fantasy of where you’ll retire seems a lot better than what your account can handle. That doesn’t have to be the case, though. Here are five incredible places to which you can retire without breaking the bank.
Whether you’re looking for a coastal retreat, an urban oasis, or a combination of both, you can live comfortably in Panama for $1,000 a month with rentals that will set you back $400 to $500, and utilities are a nominal expense. Food will be fresh and affordable, the people will be kind and enthusiastic, the climate will be warm, and the drinks will be cool. The Panamanian balboa is the local currency, but the US dollar also circulates as legal tender there, so you don’t even have to worry about exchange rates.
Northern Thailand, in particular, is rich in food, culture, and destinations, with towns like Chiang Rai and cities like Chiang Mai combining thousands of years of traditional architecture with stunning vistas of forested mountains and more urban landscapes. For $1,000 a month, you can live comfortably shopping in open-air markets and enjoying Western and Thai style restaurants interchangeably, and for $2,000 a month you can live like royalty. Medical costs are reportedly low in Thailand, as well, and service is quick and quality.
Just outside Corpus Christi, Rockport is a community with a thriving retiree population, as well as some families, creating a vibrant mix of people and interests. With cost of living 9% below the national average and homes in the $100,000 to $150,000 range, Rockport provides an ocean escape, city amenities, and a subtropical climate all year round. You’ll also be close to the island town of Port Aransas, which has prominent fishing, beach, and resort communities and seasonal festivals that anyone would enjoy.
A house in Belize will run you about $400 a month, and while you’ll be surrounded by jungle and Mayan ruins, you won’t have any problem feeling at home. The US dollar is readily accepted in Belize, and the local government makes it easy to establish residency and even start your own business as an expat (if you’re looking for something to keep you busy on the side). English is also the first language there, so while you’ll hear Spanish, Creole, and other local dialects spoken on the street, you won’t have to know them to function on a daily basis.
Less than $2,000 a month for a couple will keep you well-stocked in Portugal. Real estate in the Mediterranean country has fallen sharply since the worldwide financial crisis hit, and despite fluctuating Euro exchange rates, quality housing has stayed relatively cheap. You can enjoy fresh fish, good wine, and a nation full of light-hearted, friendly people who know how to make the most out of life. Portugal is also a great jumping-off point for travel to all of Europe, connecting you with destinations like Spain, Italy, Greece, Germany, Sweden, France, Denmark, England, and so many others.