What a Comfortable Retirement Will Cost You in These 7 Popular Countries

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It’s no secret that many Americans don’t feel prepared for retirement. Many have expressed disappointment about their income being unable to support the quality of life they desire, so it’s no surprise that more than a few retirees are looking to settle abroad. Depending on your budget and desired lifestyle, there’s likely a low-cost international location suited for you.

Check Out: 16 Best Places To Retire in the US That Feel Like Europe

Here’s a look at the numbers for some of the top expat destinations, ideal for retirees looking to stretch their income further.

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Choosing Attractive Places To Move Abroad 

If the main concern is the cost of living, then that should be the top consideration for your research. For this list, the cost of living is an average for lodging, food, medical treatment, and transportation expenses. These numbers are averages provided by estimates made by International Living, though your personal monthly expenses could vary. Higher estimates may include luxuries, and may also represent an additional person in the household.

Also, your expenses can vary based on location. For instance, living in a coastal town with properties directly on the water will typically cost more than living in a remote, mountainous area. Here’s list to get you started.

Learn More: Retirement 2024 — These Are the 10 Worst Places To Retire in Florida

Average Cost of Living in Various Countries

1. Colombia 

Average monthly cost of living: $1,000-$2,000

Pros:

• Affordable healthcare with high-quality services.
• Rich cultural experiences and friendly locals.
• Temperate climate year-round in many regions.

Cons:

• Safety and security can be a concern in certain areas.
• You may need to learn Spanish for the best experience.

2.  France 

Average monthly cost of living: $2,100-$2,700

Pros:

• High-quality healthcare accessible to residents.
• Rich history, culture, and world-class cuisine.
• Varied landscapes range from urban cities to countryside and coastal towns.

Cons:

• Higher cost of living compared to other retirement destinations.
• In some regions, learning French is essential.

3. Malaysia 

Average monthly cost of living: $1,500-1,800

Pros:

• Affordable living with high-quality healthcare services.
• English is widely spoken.
• Diverse cultural experiences and tropical climate.

Cons:

• The humidity and heat might be uncomfortable for some.
• Urban areas can be crowded and somewhat overwhelming.

4. Greece 

Average monthly cost of living: $1,200-$2,000

Pros:

• Stunning natural beauty and attractions.
• Welcoming local communities.
• Relatively low cost of living in comparison to other European countries.

Cons:

• Economic instability has affected some private and public services.
• Navigating bureaucracy can be challenging.

 5. Ecuador 

Average monthly cost of living: $1,200-$2,000

Pros:

• Affordable cost of living with quality healthcare.
• Diverse climates and landscapes that include coastal and mountainous regions and others.
• The U.S. dollar is the official currency.

Cons:

• You may need to learn Spanish.
• Some remote or rural areas have limited infrastructure and amenities.

6. Portugal 

Average monthly cost of living: $2,800-$3,200

Pros:

• Popular expat destination.
• Warm climate and beautiful beaches.
• Good healthcare system and safety.

Cons:

• You may need to learn Portuguese for the best experience.
• Bureaucracy can be frustrating and time-consuming.

7. Mexico 

Average monthly cost of living: $1,500-$2,300

Pros:

• Warm climate and diverse geography.
• Friendly locals, vibrant cultural scenes and culinary variety.
• Affordable healthcare and low cost of living.

Cons:

• There are safety concerns in certain regions.
• The quality of medical care can vary greatly depending on the location.

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