Tag: where to retire cheap

Cheap Retirement Places Outside The US

There are plenty of cheap retirement places outside of the United States. If you are a person who would love to retire at a totally different place from what you are used to, then you can always opt to go abroad.

Going international has its own pros and cons. You have to remember that this is a retirement home that we are talking about and not just a trip. You will probably stay there for the rest of your life and spend every morning waking up to that place. So it is very important to do research before transferring to a whole new area.

Retirees actually have the choice of staying within the country and going abroad.  There are also a lot of great affordable places to live in the United States like college towns. But if you want to extend your retirement savings and go for somewhere really cheap, then going abroad is the right thing for you to do.

If you want to stay closer to the US and your children and grandchildren, you can choose Mexico. Mexico is a great place to choose if you want easy access back to the United States. There are also a lot of expats and retirees in Mexico. You can easily import some household goods from the US tax- free.cheap retirement places costa rica

A great city in Mexico that you can choose to retire cheap is Mazatlan. Mazatlan is known for its beaches where many retirees and tourists stay. The weather is also beautiful where it is sunny almost every day in the year. Strategically, Mazatlan is not too far away from the border and not too near the border as well.

When choosing a city in Mexico to retire at, it is always advisable to stay away from the cities right next to the US borders due to the incidence of crimes and drug related issues. Mazatlan also offers great health care services through their hospitals situated in the city. Health care in Mexico will cost you a fraction than what you will typically spend in the United States.

One good reason to choose Mexico is the fact that you will be able to find a lot of expats and retirees as well. Mexico also has very good tourist spots and the entertainment industry is great too. You can easily buy a home at an affordable rate or you can rent a townhouse at a cheap price. You can also hire a housemaid easily too.

Panama is another country that you can add on your list of cheap retirement places outside the US. Panama is a country that is not that far from the US. The good thing about Panama is the fact that they are also using the US dollar currency which will be very convenient for you. Even if they have the same currency, prices for basic commodities and services in Panama are very cheap compared to the US.

Your money will definitely last longer if you choose to retire there. Panama is actually one of the cheapest countries to retire based on surveys. There are also a lot of expats and retirees living there so you will find yourself around great company.

Another great thing about Panama is the people. They are generally friendly and very welcoming. If you choose to live in Panama City, which is its capital, most people speak English. Spanish is their native language but you can easily buy a translation book or get some Spanish classes at a cheap price too. Panama also offers great benefits for US retirees since some of the hospitals there are affiliated with US companies. You also get to enjoy some retiree discounts and a favorable tax treatment too. But for top medical care, you would be advised by the doctors to travel back to the US due to unavailability of technology and resources.

Panama is generally quiet and most areas are rural aside from the larger cities. So if you want a cozier environment, then Panama is the place for you. During summer, Panama weather can be very punishing since it will get very hot outside. Most people from the North who are used to snow will not like this but if you are from warmer states like Florida or Texas, you will probably get used to the warm weather easily.

Uruguay is also one of the cheap retirement places to consider. Uruguay is in South Africa which borders Argentina and Brazil. One good thing that attracts retirees and expats to Uruguay is the fascinating culture that this country has. There are also a lot of wonderful and lovely attractions that retirees can visit including their famous beaches. There are a lot of great foods in the cities and the people are generally friendly.

Your money will definitely stretch in this country since the cost of living is very low. Although there are hospitals in Uruguay that can cater to your health care needs, you will need to fly out to better hospitals in nearby countries if serious and complicated medical issues arise. Uruguay is also a very peaceful and quiet place so this country will not be the best option for the people who likes the bustling city lifestyle.

Costa Rica is also a great choice for baby boomer retirees. The country has a very good economy where retirement income and real estate profits are known to be untaxed. There are also a lot of wonderful beaches in the country where you can relax and have fun. If you want to be in touch with Mother Nature, Costa Rica also has great jungles.

Compared to other Central American countries, Costa Rica is actually one of the most expensive in the area but if you compare the cost of living there and the United States, Costa Rica is still a lot cheaper. Costa Rica is great since it is one of the most peaceful countries in Central America where crime rates are low. These countries are wonderful choices which have their own pros and cons. It is very important to do proper research before putting your money into something.

There you have 4 cheap retirement places for a baby boomer like yourself to choose to retire cheaply.

Cheapest States To Retire

Retiring on a budget? Wondering how to make your Social Security or pension stretch as far as possible? Looking to have a decent lifestyle on not much money? Then it’s important for you to know the cheapest states to retire.

Here are the 14 states that are the cheapest states to retire because they offer very low costs of living and affordable housing and low taxes.

Florida

Florida is the most popular state for retirees and one of the reasons is because it is the cheapest place you can retire. In fact, when you retire to Florida you qualify for some perks. There is a property tax exemption of up to $25,000, no state income tax and it is now much cheaper to buy a home than it was just a few years ago. Florida has many inexpensive senior citizen communities that offer another alternative for retirement living.

Oklahoma

In 2009, the Missouri Economic Research and Information Center ranked Oklahoma as having the lowest cost of living and the fourth-lowest total tax burden in the US.  It has affordable housing whether you are buying or renting, as well as a low tax burden.

Tulsa, the second largest city in Oklahoma, ranks as one of the cheapest cities in which to live in the US. It is also considered an attractive place to live due to low crime levels, thousands of acres of city parks and trails, good entertainment and sporting venues and a low unemployment rate.

Arkansas

Arkansas is a cheap retirement option as the average house price is just $87,000. Arkansas also offers excellent medical service, senior support programs and a low cost of goods. Plus, it is very welcoming to newcomers. The northwest corner of Arkansas has been booming over the past 10 years, mostly due to the fact that Bentonville is the corporate headquarters of Wal-Mart.

Texas

The three cities in Texas that appeal the most to retirees due to their low cost of living are Brownsville, Ft. Worth and Harlingen. As an example of how affordable living can be in Texas, one of the suburbs of Fort Worth, Benbrook, has an average house price of around $145,000 but is a fantastic area that offers endless recreational opportunities, beautiful scenery and no state income tax.

Arizona

This state is appealing to retirees because of its inexpensive housing, excellent weather and all of its recreational activities. Arizona has many retirement communities and some great small towns such as Brisbee, Tucson and Prescott that offer very affordable costs of living.

North Carolina

North Carolina may be the best state of all, as well as a cheapest state, for retirees. It offers a great geographic diversity with both coastal and mountain recreational activities and has some of the best hospitals in the country. Three great towns in North Carolina to consider for retirement are Hendersonville, Asheville, and Wilmington.

Tennessee

Tennessee has no sales tax, abundant land and inexpensive housing. It also has the cultural opportunities you would expect to find in its larger cities – Nashville and Memphis. Tennessee as well as the spaciousness and appeal of its rural areas. One of the best cities in America to retire is Paris, Tennessee.

Pennsylvania

The cost of housing in Pennsylvania can be 30% below the national average so a retiree can buy housing much cheaper than in many other states. Pennsylvania has numerous airports that make it easy to get in and out for travel to visit friends and relatives. Philadelphia and Pittsburgh offer many cultural opportunities and Pittsburgh is rated as one of the cheapest places to retire in America.  Plus, Pennsylvania does not tax retirement income.

Georgia

This southern state offers good weather, abundant recreational opportunities and a lot of cultural activities.  Atlanta, often called the capital of the south, has its great amenities.  There is a low cost of living in its smaller towns such as Gainesville, Athens and Columbus. Georgia has excellent medical care available throughout the state

Colorado

Colorado is renowned for the beauty of its mountains, rivers and lakes, and wide-open spaces that make it a great place to retire. It has smaller communities with a low cost of living that are near large cities such as Denver and Colorado Springs with their cultural activities for retirees. In fact, Aurora, Salida and Fort Collins, Colorado are on almost everyone’s lists of best, affordable small towns for retirees.

Iowa

This sleepy, Midwestern state offers a nice relaxed lifestyle that many retirees will find attractive, especially those who are coming from a fast-paced lifestyle. Iowa’s capital, Des Moines is listed as one of the most affordable cities to retire. It is the home of more insurance companies than any other city in America so it also offers opportunities for part-time jobs for retirees or even full time jobs if you want to continue working after retirement.

South Carolina

Here you will find some of the finest beaches and golf courses in the nation. What happened to housing in the US also happened to housing in South Carolina so home prices for have fallen considerably – making it great for retirees. Another plus is that South Carolina’s weather is very pleasant 12 months of the year.

Now you have a better idea of the cheapest states to retire in America. You can check hotel and flight prices to see if you can make a trip to a few locations you are thinking about to see how well you might fit in one of these cheap places to retire.

10 Cheapest Places To Retire

When it comes to the 10 cheapest places to retire, you can choose to go abroad or to remain here in the US area. Naturally, you will find places in Central and South America that are cheap places to retire versus big metropolitan areas in the US. However, there are places to retire in the US that make our list of the 10 cheapest places to retire.

First, cheap places to retire abroad

Nicaragua

This country used to be in the news because of political issues but has stabilized and become one of the most beautiful and safest countries in Latin America. It has a very stable, democratically elected government that welcomes retirees from the United States. Its capital is Managua, which is fast becoming a first-class setting. It offers many fine restaurants, malls and shops and entertainment centers. Life in Nicaragua is very inexpensive and it has very flexible laws for imports and exports of goods such as vehicles.

Brazil

This country is another great choice for retirees due to its beautiful weather, lovely people and pristine beaches. It also offers many outdoor activities. The people are welcoming and, if you can handle it, life can be exciting. It is a large country–the fifth largest in the world–though you won’t see much of it because it is rain forest. Brazil offers wonderful weather. It can become very humid but the temperatures are generally comfortable all year round. In the winter, you usually will not even need a coat to go outdoors.

Italy

Retire to this country and you will find yourself in the middle of beautiful, timelessly classic countryside. You will also be able to enjoy an excellent climate and unique Italian housing options. The Italian people are quite friendly and welcoming especially if you choose to embrace the Italian way of life. You will also like the prices in Italy. There are some areas that tend to be expensive but the majority of the country has housing that is priced much lower than the rest of Europe as well as the US. And if you enjoy culture and the arts, spending your retirement years in Italy would be a fabulous idea. Or if you would like to continue working, jobs and Italy are readily available.

Spain

You can spend as much as $2 million for a superior home in Rome but in the northern part of the country you can purchase a home for around $95,000. Spain is a good choice for retirement if you want to live in a country that has all of the modern touches but plenty of culture. Spain is very modern with all of the latest technological and medical advantages. Its weather is one of the major reasons to retire to Spain because the seasons do change but you will enjoy most of them. In fact, you can sit in your garden all year round and enjoy a cup of Spanish coffee, as the weather is enjoyable almost all the time.

Thailand

If you’re interested in a brand-new experience and an exciting adventure, Thailand has much to offer you. It has amazing people, a beautiful landscape and many cultural opportunities to explore. The culture in Thailand is unique and much different then we Westerners are used to. The climate in Thailand is good especially if you’re tired of North American winners. It is a very safe country–with one of the lowest crime rates in the world. If you want to continue working, there are jobs available for visitors. Or you can just relax with activities such as scuba diving and golf. Buying a home or condominium in Thailand is very straightforward and housing is much cheaper than what you would find in the US.

Argentina

The cost of living in Argentina is much cheaper than here in the US, which is why, many Americans have chosen to retire there. Its culture is full of charm, as one would expect from a Latin American country. The Argentine climate is wonderful, especially if you like sun and sand. Real estate in Argentina is much more affordable than in many developed countries such as the United States. And since much of the country is still rural, you can buy a larger portion of land then you would be able to in the US.

Here are four places to retire in the U.S. that make the list of 10 cheapest places to retire

Missoula, Montana

When a person thinks of places to retire, they may not think of a town in Montana. But in this case, you need to think again. Missoula with the University of Montana and a metro population of 103,000, along with affordable housing and good health care, could be a great place to retire.  It has very little violent crime and is certainly the cultural capital of Montana.  Missoula is the state’s most progressive city and is the home of East Coast transplants, Russian and Tibetan immigrants and other international students.  The median list price of a home in Missoula is an affordable $227,900. Its population is 66,788 – making it an easy place to meet people and to get around in.

Dahlonega, Georgia

This beautiful little city is in the Blue Ridge Mountains 70 miles north of Atlanta. In fact, it was the site of America’s first gold rush. Its name comes from the Cherokee word talonega that actually means gold. Retirees are beginning to flock to this town and there are 500 units now under construction for the 55-and-older crowd. Retirees can bird watch, canoe, horseback ride, attend classes at North Georgia College and State University free of charge. The town also has five local wineries and the historic Holly Theater. The median home value in Dahlonega is 233,100 and the town’s population is 3758

Salida, Colorado

This town, which is 145 miles from Denver and 100 miles from Colorado Springs, is kind of an unknown quantity to many people living in the Denver Metro area. However, for those in the know, is a great place to visit and live. It is bordered on all sides by the snow-capped Rocky Mountains and in the winter is a ski lover’s paradise. The area in which Salida sits is the home of more 14,000-foot peaks than any other county in Colorado. This makes for great outdoor activities in the summer–hiking, biking and camping–as well as skiing in the winter. Salida’s population is 5,348 and its median home value is 185,500–making it a very affordable place to buy property.

Yuma, Arizona

According to the World Almanac Book of Records, Yuma, Arizona has more sunny days than any other place on earth. This, of course, is why thousands of “snowbirds” flock to the area every winter. However, many retirees have chosen to move to Yuma and stay there year ‘round. You will definitely need air conditioning to weather the summers in Yuma but this warm weather comes with a positive – locally-grown vegetables and fruits that are to die for and at very affordable prices. Yuma also has a number of part-time and seasonal jobs for folks who want to augment their social security or pensions. Its population is 84,187 and the median home value is $197,400.

So there you have some ideas of the 10 cheapest places to retire in the world.

Ecuador – A Cheap Country To Retire In The World

One option for a cheap country to retire to that many Americans don’t necessarily think of is Ecuador. However, they really should as there is a lot to recommend it. Not only is it inexpensive to live there, with a couple being able to live in a rented apartment with a full time maid for less than $1,000 a month, but it has a great climate as well.

Sailor, Isla Puna, EcuadorImage by Rinaldo W. via Flickr

As Ecuador is located on the equator, the climate is very nice. You can live down by the beach at the lower altitudes and have mainly 80 degree days, or you can live in Quito up in the mountains and have 60 degree days. There is a fair amount of rain for about four months of the year, but this is usually in the afternoons. The altitude will take some getting used to as well. This is a very bio-diverse country, so nature lovers will really enjoy their time here.

Those who like a more cosmopolitan big city environment will definitely want to be in Quito. The infrastructure in the country works well, and, best of all for people that don’t want to be constantly thinking of exchange rates, they use the dollar as their currency. In Quito there is public transportation, shopping, restaurants, and museums to keep you occupied. They are also very welcoming of Americans. You will have to pay a fee of $350 for the visa, however. If you are in one of the larger cities you will have access to well equipped hospitals that have qualified doctors, many of whom have trained in the United States.

Health care is even less expensive than in Mexico. You also don’t have to worry about not having the luxuries you’ve been used to. You can get U.S. cable stations for less per month than you pay back home.

The economy and the government are stable in Ecuador, and the level of crime is said to be less than that in the United States, which is great when it comes to a cheap country to retire to. You know you are likely to be safe, and you don’t have to worry much about investments you might make in property and belongings. There are also a fair number of people who speak English.