It’s what most of us dream about. A beautiful seaside abode or charming townhouse in a sunny climate to spend the rest of our days with our feet up, sipping on a glass of your favorite beverage in the sun.
But then we check our bank account and think it won’t be possible. But did you know you only need $150k? Here’s a countdown towards the cheapest retirement destinations, ready? Let’s go!
With a welcoming culture, stunning castles, and scenery, as well as close traveling options to the rest of Europe and only 6 hours from New York, Ireland is a great and surprisingly affordable pick for retirement.
Homes can sell in the countryside for $100k and its level of health care is highly rated. But as a non-EU citizen, you will need health insurance, and a “proof of independence means” with roughly a $56k annual income.
Known for its majestic scenery, busy city, and friendly people, Chile is another great option for retirement. Enjoying a middle-class lifestyle retirement costs a fraction of what it would cost in the US.
To apply for retirement here, you must get a retirement visa, and follow the protocol thereafter. Uniquely, there is no official minimum income requirement for Chile!
France may come as a surprise on this cheap retirement destination list but many small towns such as the city of Pau and the town of Montpellier, are known for their affordable housing.
To retire in France, you’ll need to apply for a long-term visa with proof that you can finance your trip and have valid health insurance. The visa needs to be renewed annually!
In Thailand, you can live comfortably on a salary of $1,500 – $2,000 a month, anywhere in the country.
You can get a one-year retirement visa in Thailand and extend it if you’d like to stay. All you need is some savings and an annual income of $24k and report to the immigration authorities every 90 days.
It’s one of the most romantic countries in the world. Who hasn’t visited Italy, walked along its cobblestone streets, tasted its cuisine, and fell completely in love with it? Absolutely no one! That’s who.
To retire in Italy, you need to apply for the elective residency visa and have a yearly income above $35k, as well as proof of the rental agreement and medical insurance.
Peru’s astonishing ancient culture and beautiful beaches as well as its insane affordability, make it an alluring place to retire to as a couple can live very comfortably on $1,500 a month.
Simply apply to their retirement visa that offers infinite renewals, and prove a monthly income of $1,000, plus $500 per dependent. They also offer an exemption of tax on their retirement visa which is fantastic!
This hidden gem in eastern Europe hides beautiful historic villages, gobsmacking scenery, and a four-season climate that is a joy to live in.
To retire here, you must apply for a one-year residence permit before leaving the US which will need to be renewed yearly. You’ll also need a monthly income of $1k. After 5 years, you may apply for permanent residency.
Spain has long been favored by Europeans as the top place of retirement. Its warm and sunny climate, low living costs, and natural beauty make it a slice of retiree haven!
All you need is to apply to their retirement visa, provide proof of a salary above $30k and have valid health insurance. It’s generally an easy process after that!
Offering a lower cost of living than its neighbor, Spain, Portugal has been winning the hearts of Americans for a while now.
To retire in Portugal, you must visit a Portuguese consulate in the US and bring a valid passport, proof of health insurance and income as well as undergo a criminal background check. You must also show you have sufficient retirement funds!
With many English-speaking services, warm weather, affordable living, and an entertainment-rich culture, Malaysia is a great place to think about retiring!
Malaysia offers a renewable 10-year visa for retirees who have a monthly income of $2,495 or liquid assets of around $88k. Just make sure you stay away from the unsafe regions!
Malta is a country rich in natural beauty and historic landscapes. English is one of its official languages and its health care system is rated as one of the best in the world!
There are several open and peaceful visa options available for non-EU citizens including renewable one-year pensioner visas and self-employment visas. They make the transition easy!
For all Panama has to offer, it’s surprisingly affordable! Panama offers a high quality of life with amazing health care, sunshine, and lively culture.
To apply to its retirement program, you must provide proof of a lifetime retirement income of $1k a month from a valid US source. You’ll be able to enjoy medical care, loans, and utility costs at a range of discounts.
Home to white-sand beaches, beautiful wildlife, and familiar US businesses, the Yucatan peninsula is considered to be the safest area for international retirees.
To retire here, apply for a temporary resident permit with a recent salary of $25,880. This permit allows free movement in and out of Mexico for four years. Then apply for a permanent resident visa!
In first place on our list of the world’s most affordable and desirable retirement spots is none other than Costa Rica! Famed for its laidback lifestyle, safety, and beautiful beaches, Costa Rica is a top contender.
All you need is a $1k monthly income and a pen to sign up for their pensioner program. Then you just need to live happily ever after!