For those who wish to retire to safe havens that offer cheap living expenses, some of the cheapest and safest countries to retire to include Indonesia, Ghana, Romania, North Macedonia, and Vietnam.
Cost of Living: $1,000
Retirees looking for places to retire for $1,000 a month in 2023 should check out Las Terrenas. Las Terrenas is a charming coastal town in the Dominican Republic.
Costa Rica
Once settled, most retiree couples can live well within the country for as little as $2,000 per month.
Portugal is one of the most affordable European countries for retirement. Depending on the location, you can retire with a monthly budget of €1,400 to €2,400 per month. Housing costs can vary, but they are generally lower than in many other Western European countries.
If you want live frugally in an affordable part of the country, you should be able to live on $1,000 a month. Given the increasing rental prices and housing costs in Lisbon and other major cities, however, it may be difficult to live on $1,000 a month in these parts of the country.
Many retirees wonder what it costs to live comfortably in Costa Rica. As a general guideline, we recommend that people moving here from the States, Canada, and Europe budget a minimum of $15,000 per year per person.
Countries like Costa Rica, Panama, Ecuador, and Belize are frequently cited for their affordable cost of living and pleasant climates. Known for the “pura vida” lifestyle, Costa Rica provides a stable and friendly environment. Panama stands out for its pensionado visa offering discounts to retirees.
The cheapest and safest country to live in Europe is often considered to be Portugal. It offers a low cost of living, especially in smaller cities, along with a high quality of life and a strong sense of safety.
If you are a resident of a country that has a U.S. social security agreement, (other than Austria, Belgium, Denmark, Germany, Sweden, or Switzerland), we will continue your U.S. Social Security payments.
Overall, living in Costa Rica is comparable to Mexico in food, culture, and costs. While it is possible to live on $1,000 per month in Costa Rica, you will enjoy life more by expanding your budget and allowing for extra activities and events.
The cheapest countries in the world are Pakistan, Egypt, and Bhutan. To live comfortably in one of these states, a person needs under $400 per month. These countries, however, are unconventional choices for expats and digital nomads because of their low levels of safety and quality of life.
Norway is rated one of the top overall countries to retire to, due to its excellent healthcare, strong economy, beautiful scenery, and focus on work-life balance. Financial security, healthcare system, and lifestyle are the most common factors to consider when choosing a retirement country.
Europe is cheaper than the U.S. based on variables such as prices of goods and services, exchange rates, and market conditions. Being savvy and knowledgeable about local customs, price patterns, and international financial matters can help a visitor maximize the advantages.
According to Forbes, countries like Portugal and Bulgaria are top choices for retirees looking for both affordability and a pleasant lifestyle. Portugal is known for its warm weather, ocean access, and friendly locals.
Uruguay is not only one the cheapest places in the world but the safest as well. It has a generally a very low crime rate and prioritizes a strong police presence, and reliable emergency services. Additionally, the country's healthcare system is well-developed, with both public and private healthcare options available.
Bulgaria. One of the Slavic countries, Bulgaria is one of Europe's hidden gems for both travelers and expats and appears on nearly every list of affordable countries in Europe.
If you are a U.S. citizen, you may receive your Social Security payments outside the U.S. as long as you are eligible for them.
Belize offers unparalleled natural beauty and a more affordable cost of living but may lack the healthcare infrastructure and ease of bureaucracy that Costa Rica provides. On the other hand, Costa Rica offers a more developed and welcoming expat community with excellent healthcare but at a slightly higher cost.
Spanish is the official language of Costa Rica: it's also the most widely spoken language throughout the country. Other languages spoken are English, Creole, and some Indian languages. All official business and major newspapers are in Spanish, whereas English is widely used in areas frequented by tourists.