Safe and Affordable Countries To Spend Your Retirement

More than one in 10 Americans consider living abroad after retiring. While some want to live close to family, others are enticed by countries with a low cost of living, warm climate, and the promise of adventure.

Here are four vibrant destinations that are easy on the bank account.

Panama

The best country to retire in isn't far from North America, according to the 2022 Annual Global Retirement Index. Expats can find plenty to do in Panama, which boasts a warm, tropical climate and an easy-going lifestyle.

An apartment costs $800 to $1,500 per month in Panama City and as little as $500 per month in other towns. Fresh produce and seafood are widely available, and high-quality healthcare is cheaper than in the United States.

Ecuador

Venture a little further south of Panama for another retirement haven. Tucked along the equator, Ecuador is home to the Amazon rainforest, Andes mountains, and Galapagos Islands.

A couple can retire comfortably on $18,000 per year in this South American gem and in relative luxury by spending a little more. In 2021, Ecuador ranked 88th out of 163 countries on the Global Peace Index.

Portugal

Those interested in calling Europe home can set their sights on Portugal, which ranks as the fourth-best place in the world to retire. Situated on the Iberian Peninsula, Portugal mixes Old World charm with a Mediterranean-inspired lifestyle.

A couple can expect to spend about $2,200 per month in living expenses in a suburban setting, which includes a furnished two-bedroom apartment rental, health insurance, and a housekeeper. Expats can take free Portuguese classes.

Vietnam

It's hard to beat Vietnam for affordability. This beautiful Southeast Asian country — which features 2,000 miles of coastline — offers a comfortable, middle-class lifestyle for half the cost of most Western countries.

Two people can live in Ho Chi Minh City or Hanoi for $900 to $1500 per month, including rent, groceries, a housekeeper, and unlimited mobile data. Vietnam ranks 50th in the 2021 Global Peace Index.