Retire Young, Retire Rich, And Do It For Under $150K In These Affordable Havens

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Do you have dreams of retiring early and living a life of leisure in an exotic paradise? 

You may be surprised to learn that it’s entirely possible, even with limited funds! 

With the cost of living relatively low in certain countries and many offering generous “pensionado” programs for people over fifty-five years old, now is the perfect time for those nearing retirement age to take on new horizons. 

From South America to Southeast Asia, we’ve scouted out several locales where retirees can live affordably on $150K or less and discover spectacular golden-age treasures in their preferred part of the world. 

Read on as we uncover these hidden gems, each showcasing its own unique culture, climate, and adventure activities, where you can retire young and rich any day from now!

#1. Peru

 

With Peru’s diverse population, language-learning opportunities, and awe-inspiring attractions like Machu Picchu and the Amazon rainforest, it’s no wonder retirees are flocking here. 

Peru also offers generous pensionado benefits for those 55 and over, making it easier to stretch out limited funds.

Living in Peru on a budget of $150K or less, retirees can rent a cozy coastal apartment in Lima or the beach town of Paracas for about $350 a month.

#2. Bulgaria

Bulgaria is one of the most affordable countries in Europe, with an extremely favorable exchange rate of 1.95 BGN per USD (as of June 2019). 

Retirees can stretch their savings even further with generous pensioner discounts on everything from transportation to restaurants, museums, and parks.

Bulgarian cities like Sofia, Varna, and Plovdiv are vibrant and full of culture, making it a great destination for retirees seeking an enriching lifestyle.

#3. Chile

Chile offers beautiful beaches, majestic mountains, bustling cities, and friendly people.

It is one of the most stable countries in South America, providing a safe and comfortable middle-class lifestyle at a fraction of the cost of retiring in the U.S.

With about $1,000 a month, you can cover housing and basic expenses anywhere in the country.

Spend a little extra to enjoy dining, hiking, and exploring to your heart’s content.

#4. France

You probably wouldn’t expect to see France on a list of cheap overseas retirement destinations.

This is mostly due to the high cost of living in Paris.

But step outside into the countryside and prices for all things, including food and shelter, are very reasonable.

The biggest drawback is the same with most other European nations. As a non-citizen, health insurance coverage is on you.

#5. Panama

Anyone who has explored expat life won’t be surprised to find Panama on this list.

The country offers abundant sunshine, rich culture, and natural beauty.

While Spanish is the primary language, English is widely spoken, particularly in urban areas. Panama City, the capital, is surprisingly affordable with a one-bedroom rent under $1,000 per month.

Additionally, living in Panama offer tax advantages as well as excellent healthcare.

#6. Ecuador

Ecuador is another South American country gaining in popularity, mostly since the election reforms enacted in 2018.

However living in this country requires some different planning than others on the list.

Visitors can stay for only 90 days, so retirees should consider applying for the pensioner residency visa at an Ecuadorean consulate in the U.S.

The visa requires proof of receiving an $800+ monthly pension from a recognized source.

Once approved, signing up for public or private health insurance is mandatory.

#7. Czech Republic

The Czech Republic is renowned for its castles, towns, architecture, and local beers.

With a growing expat population and affordable living, it’s becoming a popular retirement destination.

This has led to more businesses and services opening daily in Czech cities.

While apartments in Prague are cheaper compared to other European capitals, foreigners often pay more as rent-controlled apartments are not easily accessible.

The country has a cost-effective healthcare system, and coverage from a Czech health insurance company registered with the Czech National Bank is required to take part.

#8. Portugal

Portugal, Spain’s next door neighbor, offers many of the same perks but at a much lower price.

Expats can enjoy sight-seeing, sunshine most days of the year, and ample amounts of seafood, if that excites you.

The only downside is the healthcare system, which has come under scrutiny in recent years.

As a result, private health care is recommended.

#9. Vietnam

Vietnam’s rich culture and affordable cost of living make it a popular retirement destination for North Americans.

As more English speaking people flock here, it is easier to communicate.

But you will need to learn some basic Vietnamese in some areas.

As for the cost of living, it is very affordable throughout the country, so retirees have their choice of where to live.

#10. Ireland

Living in Ireland has many perks, including excellent healthcare and a low cost of living.

Plus, you are a short flight to most European countries, making sight-seeing much easier.

The downside is since you are non-European Union citizen, you need to pay for health insurance for coverage.

#11. Costa Rica

An extremely popular destination for retirees is Costa Rica.

In years past, this option was tops for expats retiring abroad.

While there are still plenty of reasons why this Central American country should be considered, it has fallen in recent years due to a higher cost of living.

Of course, it is still less expensive than most areas in the U.S., but it is not as cheap as it once was.

#12. Belize

Belize is popular with international retirees due to its Caribbean vibes, nature preserves, affordable living, and English-speaking culture.

Expats prefer Placencia Peninsula and Ambergris Caye, despite higher costs.

You should avoid border towns, isolated regions, and Belize City due to criminal activity.

Th main downside to Belize is that that healthcare, especially for those in critical condition, is limited.

#13. Malaysia

Retirees in Malaysia enjoy warm weather, affordable food, entertainment, and English-speaking services.

But you can’t overlook monsoon season during winter.

There are many places that offer affordable living. For example, in Penang, you can live an island life in an apartment for as little as $225 per month.

If big city is more your ideal, Kuala Lumpur offers city living for less than $1,000 a month.

#14. Thailand

Retirement checks stretch farther in tropical Thailand.

Living comfortably in the country costs $1,500 to $2,000 monthly, including rent.

There are many locales to choose from. Chiang Mai offers modern amenities, while Koh Samui is an economical island haven.

Of course, there is also Bangkok if you want the feel of a big city.

The country has a stable political climate with an active police presence.

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