Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Your Escape Plan

Where to Retire to Make Your Income Go Farther

  • BY Jordan Steadman
  • June 24, 2018
Total
0
Shares
0
0
0

As going international becomes cheaper and faster, and the price of living increases in the United States, retirement overseas is becoming more viable and more attractive than ever. It is estimated that 17% more Americans retired abroad between 2010 and 2015, a number expected to continue to increase over time. Among the reasons to retire abroad, along with the low cost of living, are warmer climates and cheaper healthcare. Let’s take a look at where to retire to make your income go farther.

Many couples want to retire abroad, but the distance is not ideal. This is why Central America is a popular place to retire due the its proximity to the U.S. and the frequent flights to major cities. Central America, and many countries in Europe, offer some amazing perks for retirees, including the ideal climate and low cost of living you want. The following countries were featured on the 2017 Annual Global Retirement Index by International Living.

 

Panama

In many places in Panama, you can live on just $2,000 a month. Everything from food, housing, and utilities are all cheaper than in the U.S. The country also offers the most attractive retirement program that gives foreign retirees the same perks of offered to Panamanian nationals. Some of the benefits include:

  • 50% off entertainment
  • 30% off bus, boat, and train fares
  • 25% off domestic airline tickets
  • Up to 25% off medications
  • Between 10% and 20% off healthcare costs

 

Ecuador

The small country of Ecuador on the equator can be your new home with a comfortable cost of living that sits around $1,600 to $2,400 a month, depending on your lifestyle.

Because Ecuador has distinct geographical regions, the low cost of living isn’t the only reason to retire here. You can choose between the coast, the highlands, the amazon, or the beautiful Galapagos islands.

 

Portugal

Retiring in Portugal, the oldest nation-state in Europe, offers the perfect destination for retirement abroad. Because the country is the easternmost nation in Europe, access from the U.S. is quick and easy. The diverse culture and attractive climate are reason enough to spend your golden years in Portugal.

If you needed another reason, the cost of living is incredibly cheap compared to the rest of western Europe. You can rent a 2-bedroom apartment for less than a thousand euro a month, and the price goes down when you get into the countryside.

There is also a great tax exemption for foreign retirees.

 

Spain

Though the exchange rate for North American retirees in Spain isn’t as favorable as some of the Central American destinations, the country is still affordable.

Life in Spain can still be quite affordable.  It really depends on how you like to live.  Is it dining out nightly, the theater and outings every week? or is it shopping locally, eating out once a week and enjoying the scenery of your home town?  So it really depends on you!

 

Costa Rica

The expat community in Costa Rica, along with the locals, is accepting, making Costa Rica an excellent choice for your retirement abroad.

A couple retiring in Costa Rica can expect to pay $2,000 to $3,000 a month to live comfortably. This includes housing, transportation, medical care, food, and entertainment. This is a great price for the North American standard homes.

If you gain residency, you will also have the opportunity to access the world-class national healthcare program for a low fee.

 

Colombia

Colombia is known as the second most biodiverse country in the world. The tropical rainforests, mountains, glaciers, rivers, plains, deserts, and beaches would keep anyone occupied for a lifetime.

If the biodiversity doesn’t draw you in, the low cost of living will. Similar to other Latin American countries, Colombia has a low cost of living. You can live comfortably in the country with $1,200 a month.

 

Nicaragua

Nicaragua is the cheapest place you can retire to in the Americas for the highest quality of life. A one-bedroom apartment can cost you as little as $325 a month. Less than $500 can afford you a three-bedroom apartment. Groceries and transportation are also significantly inexpensive.

Along with the low cost of living, Nicaragua boasts a high safety ranking. The peace and political safety have made Nicaragua the safest country in the Central American, Panama, and Dominican Republic region. You can spend your retirement with a peace of mind about your day-to-day life, and, more importantly, your wallet.

Other countries on the list included:

  • Mexico
  • Malaysia
  • Malta
  • Honduras
  • Thailand
  • Italy
  • Peru
  • Belize
  • France
  • And more…

 

Medical Tourism

Many of these countries offer great quality healthcare for a fraction of the cost. Retirees looking to save some money can easily have procedures done abroad. The first thing you should do, however, is your research. The U.S. is considered to have the best healthcare in the world. If you choose to have a procedure done overseas, whether voluntary or necessary, make sure you are visiting a quality medical facility with world-class doctors.  

Here are a few great articles on medical tourism in Latin America.  Enjoy!

Medical Tourism For Expats and Retirees in Latin America

Medical Tourism in Colombia

Medical Tourism

 

Conclusion

I do hope you enjoyed this article: Where to Retire to Make Your Income Go Farther.  There are really so many fantastic destinations to retire in.  Make sure you pick the one that’s right for you and has an easy immigration process for your country of origin.

For help on choosing the best location and to help with the immigration procedure, please contact us HERE.

If you’re considering traveling or moving abroad, be sure to explore your healthcare options. Visit International Citizens Insurance to learn more and get a free quote.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • Central America
  • cost of living
  • Europe
  • local culture
  • Panama
Previous Article
  • Food + Culture

The Singaporean Food Scene

  • BY EA Editors
  • June 12, 2018
View Post
Next Article
  • Digital Nomadism

Countries with easy immigration laws

  • BY staffwriter
  • October 9, 2018
View Post
You May Also Like
Low-Tax Countries to Save Money in 2025
View Post
  • Plan B
Where Expats Are Moving to Keep More of Their Money
  • BY EA Editorial Staff
  • August 27, 2025
The search for a second passport has shifted from luxury to necessity for many Americans
View Post
  • Second Residency
America’s Second Passport Fever
  • BY EA Editorial Staff
  • August 25, 2025
Belize Offshore Banking
View Post
  • Plan B
Why Belize’s Waters Run Deep in Offshore Banking
  • BY Luigi Wewege
  • August 20, 2025
International Banking Structures
View Post
  • Plan B
Tax-Friendly Banking Solutions for International Investors
  • BY EA Editorial Staff
  • August 13, 2025
Global Residency Program and Citizenship Programs
View Post
  • Plan B
Your Next Investment Should Be a Residency Program
  • BY EA Editorial Staff
  • August 6, 2025
Tunisia, North Africa - One of most affordable Countries to live
View Post
  • Plan B
The Most Affordable Countries to Live in 2025
  • BY EA Editorial Staff
  • July 30, 2025
View Post
  • Interviews
The House We Rebuilt in Georgia
  • BY Isha Sesay
  • July 28, 2025
Where old walls meet new beginnings, the €1 home story continues to unfold.
View Post
  • Field Notes
Inside Italy’s $1 Home Revolution
  • BY Isha Sesay
  • July 21, 2025
Trending Posts
  • The search for a second passport has shifted from luxury to necessity for many Americans 1
    • Second Residency
    America’s Second Passport Fever
    • August 25, 2025
  • Croatias Tourism: Aerial view of Croatia’s stunning Adriatic coastline, where historic towns meet turquoise waters 2
    • Croatia
    Croatia’s Journey to Wonder
    • August 22, 2025
  • Belize Offshore Banking 3
    • Plan B
    Why Belize’s Waters Run Deep in Offshore Banking
    • August 20, 2025
  • Low-Tax Countries to Save Money in 2025 4
    • Plan B
    Where Expats Are Moving to Keep More of Their Money
    • August 27, 2025
  • Bolivia's incredible salt flats. 5
    • Natural Wonders
    The World’s 10 Most Breathtaking Countries
    • August 31, 2025
InterNations
Know Before You Go
  • Friendly locals and relaxed daily life in The Gambia 1
    • Africa
    Could The Gambia Become Africa’s Next Digital Nomad Safari?
    • August 29, 2025
  • Croatias Tourism: Aerial view of Croatia’s stunning Adriatic coastline, where historic towns meet turquoise waters 2
    • Croatia
    Croatia’s Journey to Wonder
    • August 22, 2025
  • Moving to Morocco: a palette of Tradition, Texture of Tradition 3
    • Morocco
    Top 10 Things to Know if You’re Moving to Morocco
    • August 18, 2025
  • Albania Travel Guide: City views in Tirana, Albania on a summer afternoon 4
    • Albania
    Albania’s Bold New Beat
    • August 15, 2025
  • Luxury Travel Experiences with Christina Tan 5
    • Interviews
    Inside the World of Luxury Travel with Christina Tan
    • August 11, 2025
Learn More
  • About Us
  • Contact Us
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/