There are a lot of things to consider when retiring such as:
- Health insurance
- Food
- Utilities
- Phones
- Internet and cable
- Cars/Transportation
- Fun, entertainment and traveling
- Personal (clothes, hair, etc)
Of course, all of this adds up like crazy, and it’s recommended that in retirement that you have around 70% to 100% of your past salary for your yearly expenses. Many people think that you should save less, but not everyone will have their homes paid off. I plan on having around 85 or 90% per year.
Here is what the article says about places to retire abroad (these are all per month):
- Argentina – $4,000
- Belize – $2,200
- Brazil – $2,700
- Colombia – $2,000
- Chile – $2,500
- Ecuador – $2,000
- France – $3,000
- Italy – $2,400
- Malaysia – $1,600
- Mexico – $2,500
- Panama City – $2,500
- Thailand – $1,200
- Uruguay – $2,300
You can obviously find places for MUCH cheaper than this, but I think these costs are for living very well in most of these countries, while some are just average living.
Have you thought about your retirement? Is retiring abroad something that you’ve thought about?
Also, Daily Worth is having a $10,000 giveaway (5 winners will each win $2,000). Sign up under my link. All you have to do is enter your e-mail!
Related Posts
Pros And Cons Of Tiny Houses (Is It Right For You?)- Bask Bank Review: Earn Airline Miles For Saving Money
- How to Make Money as an Airbnb Experience Host
- How Much We Spent To Visit All 50 States In One Year
- How My Family of 4 Flies Free 6 Times Every Year
- How I’ve Traveled Full Time For 20 Years (And Make/Save Money)
her every cent count says
Let's move to Thailand for our retirements! 🙂 And if we have $4M we'll live like Queens.
Liquid Independence says
Looks like Thailand will become a popular place for global retirees in the future. I'm not a big traveler so I think I will stay in North America in my golden years, unless of course my future spouse thinks otherwise.
saving for travel says
I dream of retiring with enough money! Would be great!Sft x
Live Simply- Live We says
I always worry about retiring. We are contributing, but I am still scared it wont be enough.
Jane says
I'm about 3 years from retirement, I'm moving – but not abroad. I'm moving to PEI where real estate is 1/5th of the cost of land in Ontario. I'm selling my condo and already bought a house with a few acres. Looking forward to it!!
~Carla~ says
I think I'll follow Jane to PEI! 😉 Who doesn't love a squatter?! lol!
Married...with a Pup says
Yes I have to agree. Even though I'm just starting out my career, I"m looking forward to retiring, haha!
Well Heeled Blog says
I would live abroad, but I think when I am really old, I'd like to move back to the U.S. Think about it – your family will probably be back here, your friends, your support network. If you have major surgery, you'd probably like to have it in the U.S. My parents were immigrants, and their native country is MUCH cheaper than the U.S. But even then I don't think they'd be comfortable moving back. The air pollution is a problem in many parts of the developing world. Currency might appreciate faster than you expect. I think it's much better to plan for and save for a retirement in the U.S., and then when you do retire and you want to live abroad, you'll have that much more money to do so. Plus, you'll always have the money to come back to the U.S. if you so choose.
Rafiki says
I think about it but I just want to retire comfortably here where I live now. I want the ability to get up and do what I want, be it buy a plane ticket somewhere or just watch cartoons an entire day but I want the freedom to make that decision on the morning I wake up without planning for it.