Most of us have dreams of retiring to a life of leisure, with a nest egg that will enable us to live comfortably. But according to the Government Accountability Office, up to two-thirds of workers are potentially at risk of not maintaining the same standard of living they enjoyed pre-retirement.
Moving to a new country to live out your retirement could provide the perfect solution. Numbeo’s Cost of Living Index has the U.S. listed as the 18th most expensive country to live in, meaning retirees have a huge number of cheaper countries to select from. Here are five countries where you can retire on $1,000 per month. (See also: 5 Countries That Welcome American Retirees)
Thailand is best known for its tropical islands and exciting big cities, but it’s also a destination where an increasing number of overseas retirees are settling down. It’s got the magic combination of being well-developed while maintaining very low living costs.
Grocery costs are well-priced and good quality, and fresh produce is widely available. According to Numbeo, the average price of a loaf of bread is $1, a dozen eggs is $1.80, and a pound of rice costs just 60 cents. A three course meal for two at a mid range restaurant costs $20.60, so you’ll also be able to enjoy regular evenings out.
The transport infrastructure in Thailand is also good, with tuk tuks, taxis, and public transport providing easy ways to get around. Costs are also low, with Numbeo suggesting the flag fare for an average one-way taxi ride is about $1 plus 28 cents per mile after that.
Typical fixed costs per month:
Rent for one-bed apartment city center: $615
Although not the most fashionable country in South America, Bolivia is a great retirement option for outdoor lovers. From the Amazon rain forest to the Andes Mountains, there’s an abundance of beautiful landscapes to explore. It’s also one of the most affordable countries in South America.
The cheapest place to buy fresh produce is from the local markets throughout the country, but there are also many supermarkets with wider selections of international goods. Numbeo lists the average price of a loaf of bread as 92 cents, a dozen eggs for $1.40, and a pound of rice at 60 cents. Splashing out on a three course meal for two at a mid range restaurant will cost $25.
Transport systems in Bolivia are not the most advanced, but there are good public bus…