Cheapest Places in the World to Retire

Sunset at a beach side town in Nicaragua – not a bad place to retire, eh?

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Some of the best candidates for expat retirees are backpackers. We know what it’s like to spend time in other countries, outside our comfort zone, and we like a little adventure in our lives. So, after a lifetime of hard work and pinching pennies so you can retire comfortably, the big question becomes: where to retire so you can enjoy your golden years? With so many places to consider, this list will help you make up your mind.

Nova Scotia, Canada

If you love the ocean, sweeping landscapes, and lots of lakes, Nova Scotia offers this and more for a cost that will astound you. Imagine buying a three-bedroom home on acres of land for a mere $50,000 or less. You’ll be taken by its natural beauty and you’ll enjoy a low cost of living. Nova Scotia is nearly an island as water almost completely surrounds it. Most of the population lives along the coast where you’ll love the small fishing villages and lighthouses that dot its shores. It actively welcomes retirees, so you’ll fit in immediately.

Las Tablas, Panama

If you’re on a fixed income, Panama is one of the cheapest places in the world where you can retire on $1600 or less per month. If the beach sounds good to you, Las Tablas on the Azuero Peninsula offers wonderful two-bedroom rental homes for as little as #300 a month. You’ll find you can afford to hire a full-time housekeeper without giving up other luxuries too. Play on the beach, go swimming, dine out, and do a little traveling. Panama offers special benefits and discounts for its seniors, so you’ll often pay less for many of the things you enjoy.

Granada, Nicaragua

Nicaragua boasts the lowest cost of living in Central America and Granada is a slice of paradise you will quickly fall in love with. Horse-drawn carriages and colonial architecture plus fantastic views of Lake Granada and the Mombacho Volcano make it one of the most inviting places to live. Though Granada offers a relaxing atmosphere, most retirees come here to leave their rocking chairs behind and to experience a more adventurous lifestyle. The low cost of living means getting much more for less. If you’re living on less than $20,000 a year, you can easily enjoy comfort, beauty, and fun here with change to spare.

Corozal, Belize

Another beautiful country in Central America, Belize is fast becoming more popular with US retirees. Its official language is English and there are many perks that make it very appealing. Corozal is situated on the Caribbean sea with rainforests and gorgeous white sandy beaches. It is also not far from Mayan ruins for those who love to explore. Residents of Corozal enjoy a laid-back lifestyle, but enjoy snorkeling, swimming, hiking, and much more. It is also not far from city amenities, so you get the best of both worlds. You can easily buy a house here on a middle-class income.

Abruzzo, Italy

Located on the Adriatic Sea, Abruzzo is affordable and beautiful. If you’re looking for a quieter retirement, you’ll enjoy living further inland in one of the many charming villages and towns. If you’re seeking a more active lifestyle, you might prefer living on the coast. Abruzzo is much cheaper than Tuscany where you can find a home for about half the cost of one in Tuscany. All the towns are a mix of centuries-old architecture and minimal new development, but there’s enough here for great shopping and leisurely fun. It’s also a good place to consider for investment property.

It is possible to retire in some of the world’s most beautiful places without breaking the bank. Stretch your dollars without giving up on a dream of not just living, but quality living. Make your Golden Years the best of your life.

This article was written by Ross who is a freelance travel blogger for Netflights.com currently living in Australia!

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  • www.justonewayticket.com

    I wanna add a city to your list! I live in Istanbul since 7 months and I can live here perfectly on 300 – 400 EUR a month. I live in the center of Istanbul (Taksim), if you live outside of the city you can live even cheaper. I spend 200 EUR a month for the rent and the rest of the money is for food, leisure, beer, coffeeshops and my health insurance. Vegetables and fruits are very cheap here. I love this city, 17 Million people are living here, the city never sleeps and has so much to offer.

    Cheers from Istanbul :)

  • Lerma Green

    I would love to retire on Nova Scotia, Canada because I heard that the country is beautiful and at the same time safe for senior citizens who wish to give up work. I don’t know if they consider obtaining a resident visa for that. Anyway I found out this website http://www.migrationexpert.com that offers visa services for countries such as USA, Canada, UK and Australia. If ever that I am planning to retire do I need to apply a resident visa to that country?

  • http://twitter.com/IanBorderless Ian Yacobucci

    I’m glad Canada made it onto the list!