Retiring abroad can offer numerous benefits, including cultural enrichment and a better quality of life at a lower cost. According to the Social Security Administration, many retirees live on a budget of under $2,000 a month, making countries like Mexico, Panama, Portugal, and Thailand attractive options. U.S. News & World Report compiled a list of seven affordable retirement destinations where you can live comfortably on $1,000 a month.
Moving to a lower-cost country doesn’t mean compromising on quality of life, as many offer high-quality healthcare and infrastructure. For example, Portugal has been ranked best for healthcare, with affordable services and a rich historical heritage. Mexico and Panama offer immersive cultural experiences, with Panama being tax-friendly and Mexico having affordable options in central areas like Aguascalientes. Both countries also provide easy access to other destinations in the Caribbean and South America.
For those considering Southeast Asia, Malaysia, the Philippines, Thailand, and Vietnam are recommended by U.S. News & World Report. Countries like the Philippines and Thailand have large expat populations where English speakers can get by. Overall, retiring abroad can provide a unique and affordable lifestyle with the opportunity to explore new cultures and regions. For further information, visit usnews.com.
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