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?
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