Every few months, we evaluate our current financial situation and figure out exactly how much income our savings would produce per month in retirement. From that number, we look at five interesting places to retire abroad. As our retirement savings grows, so will our options of places to settle down, or just to spend a little time!
Everyone knows someone at or near retirement age who seems stuck in a bad financial situation. Wouldn’t it be great if there was a way for this friend or loved one to leave their troubles behind and reap the rewards of a lifetime of hard work? Or perhaps you’re like us: still early in your retirement savings, but you want to stay motivated and see results right away. This series of posts is dedicated to both types of people.
The series uses crowdsourced cost of living numbers to present a basic living budget for food, housing, some basic entertainment, and other necessities. An extremely frugal reader might spend less than the budgets presented, or a reader looking for luxury might spend quite a lot more. The purpose of the series is simply to show that retirement is in reach for everyone, even those without a lot to spend.
The Retire Abroad series inspired me to build a special tool for the FIRE community: The Earth Awaits. It’s a tool made to build you budgets for hundreds of cities worldwide, taking your family size, budget, housing needs, and a bunch of other things into account. I think it’s the best way to explore the places in the world you can retire– right now.
Retire Abroad: The Series So Far
Retire Abroad on $774 a Month (July 2015) – Ultra cheap options in The Philippines, Colombia, Paraguay, Chile, and Portugal. Whether it’s the beach or the mountains you’re looking for, it can be done on a budget.
Retire Abroad on $879 a Month (December 2015) – $879 a month is enough to live comfortably in Malaysia, Thailand, Colombia, Vietnam, and Ecuador!
Retire Abroad on $993 a Month (May 2016) – $993 a month opens up countless new possibilities! We look at Mexico, Bulgaria, Indonesia, Nicaragua, and an surprisingly clean, comfortable, and affordable option in Malaysia!
Retire Abroad on $1,100 a Month (June 2016) – Discover five more amazing destinations in Mexico, Serbia, Vietnam, India, and Georgia which will fill your retirement with affordable adventure!
Retire Abroad on $1,200 a Month (July 2016) – Turkey, the Czech Republic, Mexico, South Africa, and Morocco are all yours for the taking when you reach the $1,200 per month income level.
Other Retire Abroad Articles
Retire in France – Think that retiring to France is a fantasy? Think again! Five awesome places to retire in France that won’t break the bank.
Retire in Spain – Spain combines all the best aspects of Europe with an affordable cost of living.
Retire in Thailand – The kindness of the people, first world amenities, and rock-bottom prices combine to make Thailand one of the best places in the world to retire.
Retire in Cuenca, Ecuador – Find out why Ecuador is one of South America’s most popular retirement destinations! Latin culture and a thriving expat community meet in Cuenca, Ecuador.
Insurance Options For Expats
World Nomads is one of the best travel insurance options for those retiring or slow traveling abroad. They’re one of the few services that will allow you to start a policy after having departed, offers full annual policies, and which will cover your entire family. You can get a quote using the widget below.