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Retiring from work can be a great experience, but it can also bring a degree of anxiety. When preparing to retire, a few things must be considered, like affordability and the public safety of the area you plan to live in. These are consequential decisions that have to be made.
Finding an affordable place to live is vital to making your retirement dollars stretch as far as possible. It’s also crucial to find a safe area to live in. If you’re looking for the safest places to retire for under $2,000 a month, there are many great options worldwide that offer both security and affordability. If you’re willing to travel, you can find safe, budget-friendly destinations to spend your golden years. All that’s needed for the sweet life is a passport and a little wanderlust.
1. Bolivia
A hidden gem in South America is the country of Bolivia. Its challenging terrain, which includes mountains, rainforests, and deserts, makes it hard to enter the country, so tourists do not heavily travel it. That makes Bolivia even more appealing to expats looking for a secure place to live that won’t break the bank.
The monthly cost of living for one person in the U.S. is $2433 and $5667 for a family. Compare that to Bolivia, where a family’s monthly cost of living is $683 and $1646. That’s a significant saving that deserves a serious look.
2. Ecuador
If you’ve dreamed of living in a community of beautiful people and tropical exotic wildlife, you can find that by living in Ecuador. Between the pristine, clear-as-glass blue waters of the Galapagos Islands, the rare sea life, and the colorful birds, Ecuador will feel like a fantasy come true.
Not only can you live in relative peace and safety in the country, but the $815 monthly cost of living for a single person will make you feel even better. Ecuador’s cost of living is 67% less than living in the U.S.
3. Malaysia
Malaysia has a well-deserved reputation for being an ideal vacation destination. Thanks to its warm, friendly people, quality healthcare, and the mix of ancient traditions with modern culture, it’s the most popular Southeast Asian country for expats, and with good reason.
Amazingly, one person’s monthly living costs are only $582, and a family’s is $1414, well under $2000. Between being a safe place to live and having low monthly living expenses, relocating to Malaysia is an easy call to make.
4. Paraguay
Another South American hidden gem, Paraguay, has warm weather all year, even in winter. The average cost of living for a single person is $632 a month, 74% lower than in the U.S. A family can live quite well in Paraguay, with an average monthly cost of living of $1481.
If you move to Paraguay, prepare to see gorgeous landmarks, incredible natural sites, and colorful wildlife. FYI, because it’s located south of the equator, Paraguay’s seasons are opposite those in the Northern Hemisphere.
5. Indonesia
Bali and Jakarta are famous for their temples, but Indonesia has plenty of other natural and manmade sites of beauty. It’s also a diverse country of 250 million people, including 1,331 ethnic groups and 50 to 70 million Indigenous peoples.
Indonesia is one of the most affordable places for individuals or families to relocate to compared to the U.S. A family can live there for $1484 a month, while one person can live there for only $567 a month, which is quite a bargain.
6. Bhutan
You’ll be forgiven if you’re not familiar with the Buddhist nation of Bhutan. Considering it’s one of the happiest places on the planet, not to mention highly affordable and safe, it’s worth learning more about this enigmatic country.
The Kingdom of Bhutan is located between India and China in South Asia. Its ancient cities have traditions that are still protected to this day, but there are also modern amenities for expats to enjoy. Single people can retire in Bhutan for an incredulous $455 a month, while an entire family can live on $1115.
The hard part about Bhutan is getting a visa. It is a happy, safe, and cheap place to live, but there could be better places on this list to look at.
7. Vietnam
Living in Vietnam means being neighbors with some of the nicest people you’ll ever meet. It also means having hot, tropical weather year-round, a draw for American snowbirds. The country’s rapidly growing economy reflects its openness to the world.
The country has a well-regarded public safety record and is an economical place for individual retirees and families to live. One person’s monthly cost of living is $611 and $1817 for a family, making it an ideal place to move to.
8. Spain
If you move to Spain, there’s much more than just running with the bulls in Pamplona. You can explore their miles of coastline and see the awe-inspiring landscapes from the various scenic viewpoints around the country.
For $1383 a month, a single retiree can safely live in Spain and enjoy the year-round mild climate. With landmarks like the Cave of Wonders and Cuenca’s Enchanted City, you’ll always be surrounded by places to explore during this new stage of your life.
9. Romania
Imagine having the ability to sail up and down the serene Danube River because you live so close to it. How about hiking through the legendary Carpathian Mountains? Embarking on a walking tour of the painted monasteries?
These are just a few activities available to expat retirees in Romania, a beautiful country with a proud history dating back to 3600 B.C. It’s also one of the world’s most affordable, livable countries: the individual cost of living is only $821 a month, or 66 percent lower than in the U.S.
10. Bulgaria
Bulgaria, with a total population of more than 6.7 million, borders the Black Sea in southeastern Europe. It’s a beautiful country with a culture that goes back thousands of years.
Bulgaria is also an excellent place for American expats to retire. Besides having a low rate of violent crime, the cost of living for a family is just under $1943 and is less than $773 for one person, much less than in the U.S.
11. Montenegro
If you’ve always dreamed about spending your retirement in a safe and affordable place with a climate of warm summers, mild winters, and sites to explore, the Balkan country of Montenegro has all of that and more.
Montenegro is generally divided into the coast, central, and north sections, each with its attractions. The coast is peppered with walkable towns, the central region has historic cities, and the north has stunning mountain scenes. For $972 a month, one can enjoy a perfect retirement life.
12. The Philippines
An island nation consisting of approximately 7,640 islands, around 2,000 of which are inhabited, the Philippines has much to offer expats who are seeking a safe respite from North America’s high costs.
One person’s monthly cost of living is just $614, while an entire family can live on $1558 a month. Your retirement funds can go a long way in this tropical haven, whether moving alone or with your family.
13. Malta
The country of Malta is probably not on your retirement bingo card, but it should be. It’s a lovely Mediterranean enclave that, while a part of the modern era, has monuments predating the Egyptian pyramids and Stonehenge.
Foodies will love the culinary delights of the land and the sea, and Maltese culture runs the gamut from lively village fiestas to unique art galleries. Single retirees can enjoy this lifestyle for $1504 a month.
12 Budget-Friendly Travel Destinations You Thought You Couldn’t Afford
Just because you’re watching your money doesn’t mean you can’t enjoy a trip abroad. All it takes is a little sifting through countries with the lowest exchange rates. Located in the Americas, Europe, Southeast Asia, and Africa, these hot spots offer dynamic cities to explore and stunning landscapes to escape it all. These exotic locations allow you to splurge without blowing a stack of cash.
These destinations were chosen by sorting through the lowest exchange rates for each country against the U.S. dollar. Then, the final selection was made by examining features, including safety, the quality of cultural and outdoor activities, and easy accessibility to natural beauty, such as mountains, rivers, and the ocean.
So, if you’ve avoided international travel due to cost, we think the places on this list represent a great opportunity you probably didn’t know about.
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