For some people, retirement can mean a career change.
For others, it might mean more time to devote to a hobby or passion.
From Latin America to Asia andEurope, retirees are finding homes and plenty ofexpat communitieswhere living is more affordable.
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These are some of the cheapestcountries to retirewith a comfortable lifestyle.
Data from Numbeo, updated as of May 2024, is used here for cost of living comparisons.
Thecost of livingis low overall, and looking at individual cities is important.
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Health care is available through government programs that cover low-income residents or require payment of premiums.
There are minimum income requirements of around $4,394 monthly for temporary residents and $7,300 for permanent residents.
Ecuador uses the U.S. dollar as its currency, and many people in the major cities speak English.
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The overallcost of livingin Ecuador is nearly 54% lower than in the United States.
Minimum income, real estate investments, or bank deposits are required as part of the temporary visa software.
Excellent health care is available through public and private programs.
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Interested retirees with funds to invest should checkcurrent details.
High-quality health care is very affordable, with both public and private systems.
Most expats carry international health insurance and take advantage of private hospitals.
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The Hoan My Medical Corporation has hospitals and clinics across the country.
Investment in Montenegro is encouraged with a variety of incentives, and foreigners are able to buy property.
Montenegro is a member of NATO and is expected to join the European Union in the coming years.
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Both private and public health care are available in Montenegro.
Costs vary among cities and inland communities, and a variety of housing is available.
Colombia’s health care system features modern public and private hospitals, with high-quality affordable care.
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Private insurance is also available.
Several visa categories include thePensionado, most commonly used by retirees.
Income can come from pensions, Social Security, or savings.
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After five years, retirees can apply for a resident visa.
