20 Places Where $150K Is Enough To Retire
If you’ve caught yourself in a position that you don’t know if you would live well in your home state once you retire. You might be worried about your retirement and how your bank account and social security payment will look like in a couple of years. Wouldn’t it be amazing if your money could double its value? Well, we have to tell you that it’s possible – if you’re ready to switch countries!
We’re giving you an insight into most beautiful countries where you can retire with only $150k in savings. The list is based on the average American monthly Social Security payment in 2018 ($1,404) and countries where this amount of money is more than sufficient to lead a good life – rent a home, pay for food, have your health care covered and be safe. Discover these 20 amazing countries that will double the value of your savings! Let’s start!
Croatia is a beautiful, small country in the Balkans whose nature offers so much: from beautiful beaches and islands to Roman castles, mountains, waterfalls, and lakes. Living near bigger cities might be wiser because of the proximity of good hospitals.
If you want to live in this stunning country, you’ll need to apply for temporary residence and have a stated reason for wanting to move to Croatia such as an investment, business, family, or real estate rental or purchase. In order to get the residency, you will have to pay one year’s worth of health care payments ($400).
When you’re thinking about affordable places to retire in, Italy might not be at the top of your list. However, there are a lot of differences between touristic cities like Florence and Venice, and less crowded regions of Basilicata and Puglia. You will live there quite comfortably with $1,000 a month.
If you want to live here, you will have to apply for an elective residency visa and prove you have an annual income of $35,000. You’ll have to pay around $400 each year of health care.
Vietnam is a vastly popular destination for retirees for its affordability, great food, amazing scenery, rich culture, and friendly people. Everything costs half of what we’re used to in the U.S.
You can live in here for as little as $500 a month, but also if you want to lead a comfy life you won’t need more than $1,100. Ho Chi Minh and Hanoi are the most expensive spots to live in, but other cities such as Da Nang are equally developed and offer a huge expat community.
Uruguay might not be the most affordable country of South America, but it is popular for its political stability, safety, and amazing weather. Also, people in this country are very friendly and welcoming.
You can find beautiful oceanfront apartments for as little as $500 a month. Uruguay’s health care system is known to be among the world’s best ones. With only $2,000 a month in Uruguay, you will be able to live a comfortable, middle-class life.
Getting used to a foreign language won’t be a problem in Ireland. You’ll only have to get comfortable with the accent! However, Ireland is quite affordable when living outside of Dublin, in the stunning green sceneries.
If you prove that you have an annual income of $58,000 or savings to buy a home or car, you will first get a three-month visa. After that, you’ll have to apply for a visa as a “person of independent means”
Looking for a calm and beautiful country with landscapes reminding you of beautiful photos on postcards? Then head to Slovenia, a small country in eastern Europe. Not only does it have snowy mountains, gorgeous lakes, and nature, but it also has a tiny coast on the Mediterranean. Most people here speak English, so getting around shouldn’t be a problem.
If you want to live here, you will have to apply for a temporary residence visa that has to be renewed every year. After 5 years of living there, you can apply for permanent residency. When applying, you will have to prove your income is at least equal to the minimum income in Slovenia ($1,000 a month).
If you’ve ever visited Paris, you probably assume that entire France is too expensive to live. But that’s simply not true. There are plenty of quite affordable destinations in this country. You can live in the mountains or in the southern part that has a warm Mediterranean climate.
In order to live here, you will need a temporary residence visa that you can renew annually for three years. After that, you can apply for a 10-year permanent residency card. You will need to prove your financial stability when applying for a visa.
Like the idea of moving to Asia? Then Thailand might be the perfect place for you. This country has everything a man could need: great weather, delicious food, breathtaking landscapes, and gorgeous beaches.
You can find a great place to live at affordable costs in this country. All you need to do is prove you have $24,000 in savings and that’s it! With $1,500-$2,000, you’d be able to live comfortably and cover your rent.
Bolivia is a great country for adventurers. Its breathtaking salt flats attract visitors from around the world that sometimes even decide to retire in this beautiful country. Cost of living is very low here and the weather is quite mild. Whether you prefer big cities or smaller towns, you’ll surely find your perfect fit in Bolivia.
Travel to Bolivia first in order to see how the environment fits you, if you like it, apply for a “specific purpose visa” and include a proof of your finances as well as a police record check. Be aware that health care is not entirely developed in Bolivia, so you’ll need to purchase health insurance.
Belize is an ever-lasting popular destination for US citizens because English is the most widely spoken language in the country. But that’s not all this gorgeous country offers. Belize is quite affordable and has beautiful beaches and natural sites worth visiting.
In order to apply for residency, you will have to remain there for at least 50 consecutive weeks. The application costs $1,000 and you will have to prove you will be able to transfer $24,000 into a Belize bank each year. However, Belize does not have the best health care system. If you develop a serious illness, you might have to fly to Costa Rica or Mexico.
Ecuador has a big expat community that consists of U.S. retirees. Its nature is untouched and beautiful, the little towns are well preserved and rich in history and culture. Quinto and Cuenca are pretty affordable for apartment rentals and the cost of living. So, you can travel there for the summer on a visitor visa and check if you like it. (stay no more than 90 days)
Once you’re ready you can apply for a retirement residency visa. You will have to purchase health insurance and to prove that you have a minimum income of $800 per month of a US authority recognized source.
Yet another South American country on the list of most affordable places for retirees! Chile is a country that is developing at quite a fast rate and it’s quite safe, affordable and politically stable. You can live perfectly there with $1,000 a month.
Also, getting a visa shouldn’t be a big problem. You can enter with a regular tourist visa, and once in the country, you can apply to change the visa to retirement one. You can get it for one year and you’d have to renew it. Chile doesn’t require a minimum income requirement.
Are you an adventurous type of person? Then Peru might be the right place for you. It has ancient ruins, exquisite beaches and beautiful, ancient temples such as Machu Picchu.
Like the idea of living in the country of Machu Picchu? Then you’ll have to prove you have a monthly income of at least $1,000 for a single person or $1,500 for a couple. You can apply for the renewable retirement visa and live there comfortably with $1,500 a month.
Spain is a great European destination if you’re seeking a warm and affordable place to spend your retirement in. Forget about Barcelona, however, because living there is quite costly. Rather, look for smaller cities on the coast such as Valencia that is much more affordable and has almost all features and amenities Barcelona offers.
If you want to live there, you have to apply for the retirement visa and prove that you have an income of at least $2,500 per month, which comes down to an annual $30,000. You’ll have to apply for a foreign visitor number that will enable you to open a bank account and pay utilities.
Portugal is known as the sunniest country in Europe. It provides more than 300 sunny days every year. Although this country is beautiful, rich in history, full of amazing beaches and offers delicious food and amazing wine, its living costs are still surprisingly low.
Purchasing insurance will make accessing private clinics possible. Already convinced? All you need to do is apply for a resident permit and prove your income, health insurance and that you have a clear criminal background. There’s not a minimum income you have to prove, but you just need to show that you have a sufficient income that will sustain you.
Although it might seem like a quite far destination for retirement, Malaysia has so many things to offer that its expat community has been expanding in the last decade. Renting apartments is very affordable and you can also enjoy this country’s warm weather and delicious food!
Malaysia has high-quality health care and accessing both public and private clinics is quite simple. You can apply for the renewable 10-year visa, but you will need to prove a monthly income of at least $2,386.
Although Malta is quite a popular destination in Europe, its living costs still remained low. The small island has a great climate and a rich Mediterranean culture. Needless to say, you can eat really high-quality food there.
Its health care system is great and the island’s official language is English! In order to live there, you will have to apply for the renewable one-year visa for retirees or self-employed people. If you live there for long enough, you can also earn their citizenship.
Panama offers different locations that can be quite affordable for comfortable living. This country has low taxes and great health care. Additionally, you can enjoy its sunshine and nature and speak to most locals in English.
There’s also a retirement program in Panama that lets U.S. citizens retire in this exotic country. There are different ways to get the visa pensionado, but the most common one is by providing proof of a monthly income of $1,000 from investments, Social Security, pensions, etc.
Mexico is known as one of the most popular sites for American retirees for its convenience and proximity to the U.S. The country is so rich in diversity and you can surely find a spot that will perfectly fit you. Avoid big cities because of their poor air quality.
Yucatan peninsula is also quite affordable and offers a variety of beautiful sandy beaches. The good thing about living in Mexico is that you can use your US medical insurance by crossing the border. However, in order to live there, you have to prove an income of at least $1,400 from a recognized US source.
20. Costa Rica
The most affordable country to retire is definitely Costa Rica. It is safe, politically stable and has an incredible nature. You can find stunning beaches and forests around the whole country. The cost of living is quite low, especially in the towns of Dominical, Ojochal, and Uvita.
Just with $1,000, you’ll be able to live in comfort, have your medical care and also enjoy this country’s beautiful sites. In order to live there with a pensionado program, you have to prove that your income is at least $1,000. Since the country doesn’t count IRAs or 401(k)as you’d have to purchase their public health care system.