Places To Retire With Low Cost Of Living


Transportation In Rio Vista

10 Best Countries To Retire Comfortably With Low Cost Of Living.

Seniors can be active outdoors year round due to a pleasant, moderate climate of warm summers and cool winters. The Delta Breeze transportation system provides rides around town and between other cities in the county. Though shopping, medical care and entertainment options are limited in Rio Vista, the city is close to more bustling areas Oakland and Sacramento are less than an hour’s drive in either direction, both of which have large airports. A drive of 15- to 20-minutes will get you to a larger city with more services.

Belize: A Picture Of Beachside Perfection

While Belize is well known for its tourism, that doesnt mean that the cost of living is high. In fact, its anything but. You can easily set a $2,000 per month budget. This beautiful Caribbean nation is among the cheaper ones in the area, and Ambergris Caye is a great place to snag a section of sand. While its easy to become a legal resident, the health care system isnt one of the better ones on the list. However, this is a prime location for retirees looking for a place to retire abroad in the Caribbean on a budget.

The Cheapest Countries Where You Can Retire Well

After working hard and saving diligently for retirement, you may find that your nest egg wont take you far in the U.S., but there are other options. In fact, you may be able to stretch your dollar a lot further outside the country and those options might be safer and more comfortable than you think. To assist you in figuring out where you could consider retiring, SmartAsset compiled this list of the best countries where you can retire cheaply and peacefully. For professional guidance, consider working with a financial advisor who can help prepare future retirees financially for the big event.

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Colombia: A Comfortable Climate

Colombia is a hot-spot for retirees right now because of its pleasant temperatures and beautiful landscape. Even better, it offers super cheap living. The average income here is around US$300 per month, meaning that an American couple could easily spend less than $1,500 and still be living in luxury. If healthcare is a huge concern, consider settling in Medellin, home to five of the top Latin American hospitals.

Most Affordable Places To Retire

3 Top Retirement Havens With The Lowest Cost Of Living

There are destinations in the world that are just way cheaper. Here in the U.S., we struggle to keep up. Rents are rising yearly, while salaries stay capped. If youre lucky, you might get a 3% yearly increase. And that wont even keep up with the 5.39% rate of inflation in the United States. And its not any easier in many parts of Europe and Australia.

And for most of us, thinking of retirement seems daunting. Expensively daunting. Measurement for a comfortable retirement is measured in millions these days. What about if you want to retire to a place worthy of all those years of hard work. Maybe you want palm trees, coconuts, and lapping waves. After all, you worked hard. If you want to retire in California, youll need about 1.4 million dollars. In Hawaii, 2.1 million. And Florida, 850,000 dollars.

For most of us, well be lucky to pack away half a million dollars for retirement. Maybe a pension. And then there is social security. And what about the majority though? Living paycheck to paycheck.

These places offer adventure and a cheaper cost of living. And you dont have to be reckless as well. Some of these places arent that dangerous. For example, Thailand has some of the cheapest and best healthcare in the world. You can get a full physical in the best hospital in Bangkok for $60 USD.

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Panama: A Home Away From Home

Panama offers a dry, warm climate year round and a very low cost of livingwith beach views. You can retire comfortably on $1,300 per month, and its one of the best countries for quality of life. Whats more, English is widely spoken, and you can use your US money anywhere across the country. The country also offers first-rate hospitals, and many of its doctors are US trained.

The 30 Best Places To Retire In The Us In 2022

Whats the best place to retire in the U.S. in 2022? The answer will probably depend on what you value, as well as what cost of living you are prepared to afford.

Michael Schultheiss

Key Takeaways

  • The best place for you to retire will probably depend on a few main factors.
  • We’ll review some of the top places to retire based on physical environment, cultural environment, cost of living, and tax-friendliness.

Whats the best place to retire in the U.S. in 2022? Your answer will probably depend on what you value, as well as what cost of living you are prepared to afford. As youre thinking about where to retire, its a good idea to consider your housing needs and how they might change. If youre an empty-nester, you may be able to downsize.

Youll probably also want to consider climate, as well as your own preferences for outdoor and indoor activities. Another thing to consider is cost of living and tax-friendliness for seniors. A place is tax-friendly for seniors if its tax burden is relatively light, and not tax friendly if the tax burden is heavy. As youll see, many of the tax-friendly cities on this list are in relatively low-tax states.

Also Check: When Can You Get Your Retirement Money

Most Beautiful And Affordable Places To Retire On The East Coast

As inflation soars and the cost of living keeps creeping higher and higher, people looking to retire may find themselves wondering where they can possibly live on a fixed income at this stage of their life. It turns out there are a decent number of places on the East Coast, many of them in the beautiful sunny state of Florida, where the cost of living is lower than the national averages for major expenses such as monthly groceries, rent and healthcare.

See: 5 Things You Must Do When Your Savings Reach $50,000

To find the most beautiful and affordable places on the East Coast to retire, GOBankingRates gathered data from ApartmentList to find average 2022 one-bedroom rents. We used Sperling’s Best to find the cost of living index for each selected city, and the Bureau of Labor Statistics 2020 Consumer Expenditure Survey to find the annual expenditure amount for both grocery and healthcare costs for people aged 65 and older.

In order for a location to be qualified for the study, its population had to be at least 10% over the age of 65 according to the Census Bureau’s 2020 American Community Survey, and have a livability score of 75 or above, as sourced from AreaVibes. Here are the top 10 beautiful, and affordable, east coast cities for retirees.

How Could It Be Possible That For Lief And Me Paris Is Cheaper Than Panama City Take A Look:

Oaxaca Mexico Retire Early Low Cost of Living

1. In Latin America, a car is more or less a requirement

That means paying for a car, and then paying for insurance, maintenance, and gas. In Paris and most European cities, where walking is a free pleasure and the metro is cheap, our transportation costs drop to nearly zero.

2. City living in Europe means living in a smaller home

Practically speaking, it means I cant go on shopping sprees to fill spaces and rooms with new furniture and bric-a-brac. It also means I dont need the same help with household chores, nor the cost of a maid in Europe.

3. Europe prides itself on fresh, whole foods sourced from the Continent

Aside from being healthier, the open-market food in Europe is much cheaper than imports or processed and frozen foods popular in many parts of the world

4. In Europe, your utility bills will plummet

As I said before, youre living in a smaller dwelling. But in Panama, we run the A/C nearly 100% of the time thanks to year-round humidity, sun, and warm weather. With more temperate climates, the majority of Europeans opt for fans over air conditioning

5. The best entertainment in Europe is cheap or free

Whether its people watching at a café, relaxing on a beach, heading to the museum on monthly free-days, or reading a book in the park, Europe boasts lifetimes of free activities to keep you happy.

Of course, there are some tricks which my husband Lief and I have learned over time and which I am very happy to share.

But heres my point:

This is your chance.

Read Also: How Much Money Does It Take To Retire Comfortably

Top 10 Cheapest Countries To Live

While there are places in the world which may be cheaper than those weve picked out here, they may not be attractive for practical and security reasons. This list is our top picks of countries which are both cheap to live in, and can offer interesting lifestyle opportunities for people wanting to relocate or digital nomads looking for a mid-term stay. Lets dive in.

Where Should You Retire In2022

Retiring abroad often means benefiting from a lower cost of living and experiencing new things. The destinations listed above are ideal if youre looking for affordable places to retire that also have amazing weather.

Your next step should be to research these countries further, look at accommodations, and pinpoint an ideal retirement destination by learning more about different cities and regions.

Also Check: Calpers Medical Benefits After Retirement

How Do I Calculate My Social Security Benefits

Your Social Security benefits are based on your highest-earning 35 years of work and the age at which you choose to begin accepting benefits. It’s not very simple to determine the formula for calculating your monthly payment, though. The easiest way to calculate your potential benefits is to use one of the Social Security Administration’s benefits calculators. You can input your basic information or create an account and get benefit estimates for each year from age 62 to 70 so you can decide when to retire.

How We Make Money

The 5 top retirement havens with the lowest cost of living

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.

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Check Visa And Residency Requirements

After youve chosen your dream retirement country, check Visa and residency requirements, as they vary from country to country. Check with the state departments Travelers checklist. Some countries require you to provide proof of assets and or income before theyll let you settle there. Different countries may consider pensions, retirement accounts, or even overall net worth.

What Are The Best Retirement Communities In California

  • Esplanade at Turkey Creek: In Lincoln, California Esplanade is a community of more than 850 family homes with amenities of a pool, clubhouse, walking trails, fitness centers, game room, spa, multipurpose rooms, and more. The 1408 2985 sq. ft home, ranges between $568,990 $988,000.
  • Four Seasons at Westshore: Outside of Sacramento sits Four Seasons where the home size varies from 1769-2206 sq ft, ranging between $ 549,900- $749,900. This place featured 31 acres of park and 26 acres of Lake with promenades and fountains.
  • Sun City Roseville: Sun City Roseville community has a Timber Creek Recreation Lodge on-site where each house ranges from 900 to well over 2600 square feet. The price of the home ranges from $ 615,000-$879,000.

Best Places to Retire in California

Do you consider relocating to California with access to the ocean and good cultural life in your old age? Perhaps Californias sheer size makes it possible for you. The Golden State has dreamed of retirement for decades. So, if you have the question on your mind where to retire in California then lets dive into the blog.

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Cheapest States To Retire

If you are looking to save some money while in retirement, start by choosing one of the cheapest states to retire. The following are a few of the cheapest states based on tax rates for retirees, cost of living for seniors, and health care costs.

Alabama is considered a tax-friendly state for retirees according to Kiplinger. This means that most senior benefits including Social Security and pension funds are not taxed by the state. In addition, homeowners who are over 65 do not have to pay property taxes to the state. Alabama doesnt have an estate or inheritance tax either. You will have to pay for sales taxes on food, personal items, and medicine, which is something to consider.

Arizona offers a cost of living for seniors that is nearly 4 percent lower than the U.S. average. It is little wonder that Arizona is home to some of the biggest senior cities in the nation including Peoria, Tempe, and Mesa. In fact, Kiplinger notes that Prescott, Arizona is one of the cheapest cities to live for seniors in Arizona, while still offering a goldmine of senior services and activities for retirees. Plus, Arizona offers some of the best weather in terms of sunshine and mild winters, which is why it is a hot place to go for senior snowbirds from northern states.

Here are some of the other cheapest states to retire to:

What Are The Pros And Cons Of Retiring In California

Puebla Mexico Retire Early Low Cost of Living


  • From the epic national park, and incredible nature to mountains, beaches, and hiking trails, California has everything.
  • The temperature in summer is around 80 degrees to 85 degrees F, whereas in winter it is 65 degrees to 68 degrees F.
  • California is the hub of tech companies and the film industry. California is home to Google, Facebook, Netflix, Tesla and many more such big companies.


  • The fire danger in California is real, and we all know past news.
  • The overall cost of living is much higher compared to America. However, the fastest-growing cities in Californiaare hoping for newcomers.
  • Driving from point A to Point B in California is a nightmare, everyone owns a car and the traffic jam is tremendously annoying.
  • Some California cities have higher crime rates than the national average. These are the most dangerous cities in California that you should avoid.

Final Words

So, is California a good state to retire? Of course, it is. If California was always your dream then please make sure you reside in any of these top places to retire in California. Here you can have a life that you always dreamt of. Its time to give wings to your dreams and reside in any of these affordable retirement homes in California. You deserve it! Read our ultimate California moving checklist.

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How We Compile The Annual Global Retirement Index

Each year, we use our ever-expanding network of editors, correspondents, and contributors all over the world to give us the on-the-ground information and recommendations we need to put our index together

All these people were once in your shoes. All of them wondered if they could nd a better life abroad. Many of them were former International Living readers who took the plunge, and now want to share their love for their new home with the world. These are the people we draw upon to put together our index each year.

We rank and score each of the 25 countries in the Index across the following 10 categories:

Note: Weve given Nicaragua and Bolivia low scores in the Opportunity and Governance categories. Theyre still viable retirement locations, but because theyve experienced political instability in recent years, proceed with caution.

Riverside Offers One Of The Least Expensive Places To Live In Southern California

East of Los Angeles County on the western edge of the Mojave Desert, Riverside has grown into a sprawling city of 300,000 that attracts retirees for its climate, affordability, and access to services. With a growing population, this is the state’s 12th largest city. Known for having some of the best mild weather in the nation, Riverside has come a long way from the days when its famous orange groves made it the center of California’s citrus industry.

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Starting A Life In A New Country Get A Wise Account For Cheap Hassle

If youre planning on moving abroad permanently or even just taking an extended trip, you can save on currency exchange with Wise and the Wise Multi-currency Account.

Open your Wise international account online before you head off, and get your linked debit card for easy spending and withdrawals. Top up your account in dollars and then switch to the currency or currencies you need for a low fee, and with the mid-market exchange rate.

You can hold 50+ currencies all in the same place so wherever youre headed theres a good chance you can make your money go further with Wise.

The world is a small place these days, and moving abroad is an appealing option as more and more of us become location independent. Choose somewhere new and exciting and cut your costs of living at the same time. You could live better and spend less.

Wherever takes your fancy from our rundown of the cheapest places to live in the world, get your Wise Multi-currency Account to help you save every time you spend in foreign currencies.

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