After many years of hard work, it’s only fair that you get to reap the rewards of your hard work while you enjoy your retirement. If you’re planning on retiring and want to get the best value for your money, you should consider retiring overseas because the cost of living in some countries are very low and your money can be better spent there.
Retiring abroad has become so popular today, and Schofields Insurance revealed 57% of people would like to retire abroad. If you are nearing the retirement age and are considering spending your golden years overseas, we have compiled a list of the top 5 countries to retire overseas, which we listed below.
There are a few countries that are more cost effective to live in, but Spain makes it on our list because it has great infrastructure and one of the best health care systems in the world. The laid back atmosphere in the country is also a plus.
If you live on a budget, Spain is still ideal for you because a couple can live comfortably in one of the smaller cities for about $1900 a month, which includes rent.
The first thing that comes to people’s minds when it comes to Colombia is the country’s reputation for drug cartels and regional conflicts that plagued the country for decades. However, those days are long gone in Colombia, and it has now become an attractive destination for tourists and retirees.
Colombia has a great climate, an excellent health care system, and most importantly, a low cost of living.
3. Costa Rica
When you’re looking for an affordable place to spend your golden years, it is tough to beat Costa Rica. You can live comfortably there for $1,000 per month. The health care system is also great and costs a fraction of what you would pay if you lived in the United States.
The country also has an incredible atmosphere with breathtaking landscapes and beaches which is great for active retirees.
Ecuador is not only affordable, it is also a place where retirees are more than welcome and are offered senior discounts. The real estate prices are also great for those living on a budget and a couple can live comfortably there for $1,500 a month.
Like Colombia, Mexico has a reputation for cartels and other unsavory characters, but it tops our list because it is not only affordable, it is also a very beautiful country with plenty of benefits for retirees. There are plenty of seaside accommodations and expat communities to choose from, and a couple can live very comfortably in Mexico for $1,200 a month.