Retirees in the United States that are seeking to stretch their Social Security benefits by relocating to a new country where there is a low cost of living as a high quality of life, and not to forget the healthcare system, which is important, is well furnished and operating seamlessly.
Below are some of the 4 top countries where American retirees can live very comfortably just on their Social Security payments.
1. Mexico: Close to Home with a Lower Cost of Living
One fun fact is that Mexico is a top choice for many American retirees. In most cases, this is often due to its proximity to the U.S., its vibrant culture, as well as its affordable living costs. In cities such as Mérida, San Miguel de Allende, and Puerto Vallarta, they are known to offer a warm climate with modern amenities, not to forget the large expat community. American retirees can expect to live comfortably just on their Social Security benefits and enjoy Mexico’s low costs for housing, their healthcare, and their daily expenses.
Cost of Living: With around $1,500 to $2,000 per month
- Healthcare: Mexico’s healthcare is accessible and affordable, it also offers private insurance options.
- Visa Requirements: One fortunate news about this destination is that Mexico offers both temporary and permanent residency visas for retirees.
2. Costa Rica: A Tropical Paradise
Costa Rica is famously known for its stunning natural beauty as well as the “pura vida” lifestyle. This destination is just perfect for retirees. Costa Rica‘s focus is on environmental preservation and well-being, which is combined with a friendly and welcoming culture. Surely this destination is an ideal place to enjoy your retirement. One key factor is that the cost of living is quite moderate, and many American retirees can live well just on their Social Security benefits.
Cost of Living: Just with a retirement payment of about $1,600 to $2,200 per month, you can enjoy:
- Healthcare: Costa Rica’s high-quality and very affordable Medicare, as well as a universal healthcare system, called Caja.
- Visa Requirements: Another interesting feature is that the Pensionado visa is designed just for retirees.
3. Portugal: The European Charm with Affordable Living
For American retirees seeking to experience European culture, Portugal is an exciting destination that offers a unique blend of old-world charm as well as modern living at a relatively affordable cost.
This country’s favorable climate, as well as their beautiful landscapes, and Portugal’s excellent healthcare system make it quite a favorite among expats. A vacation to states such as Lisbon, Porto, and the Algarve region are all popular choices for American retirees. This destination offers a mix of urban and coastal living. One key fact you should note about this country is that Portugal‘s non-habitual resident (NHR) tax program is an advantage for retirees.
Cost of Living: With around $1,800 to $2,500 per month of your retirement payment.
- Healthcare: You can enjoy Portugal’s high-quality public and private healthcare systems.
- Visa Requirements: For Visa requirements, the D7 Visa is ideal and just perfect for retirees.
4. Thailand: Tagged with Exotic Living and Budget-Friendly
American retirees can choose Thailand; this beautiful destination provides an exotic and affordable lifestyle, especially for retirees who love adventure. Thailand is blessed with a rich culture, as well as a delicious cuisine, and not to forget their low cost of living. Thailand is one of many top choices for retirees aiming to maximize their Social Security benefits. Spend time in cities like Chiang Mai and Hua Hin, which are quite popular among expats.
Cost of Living: With your retirement benefits of about $1,200 to $1,800 per month you will get:
- Healthcare: You will enjoy high-quality and affordable Medicare.
- Visa Requirements: Thailand has a Retirement Visa (O-A), which is available for retirees or travelers over 50 years.
