The Expat Retirement Plan
An increasing number of Americans are approaching retirement without nearly enough money saved and face either working during their golden years or living a bare-bones lifestyle. But that doesn’t have to be the case. Retiring abroad can be a budget-friendly alternative, particularly for those seeking to get by primarily on Social Security. “All over the world, safe, welcoming, warm-weather, good-value communities exist where retirees can watch their lifestyle expand while they spend less than it would likely cost to stay home,” says Jennifer Stevens, executive editor at the magazine International Living. “From Portugal to Panama—all sorts of choices present themselves. And these are spots where a retiree could live a genuinely comfortable life, even on a Social Security check alone.” By going overseas, you gain options and good options at that. Here are the top 10 countries around the world to retire abroad as identified by International Living’s Annual Global Retirement Index for 2020, as well as a few additional suggestions from International Living’s team of researchers.
Vietnam is new on the Global Retirement Index this year. It’s a place where cities and infrastructure are quickly developing and the economy is growing stronger by the day. Vietnam is also a country where you’ll find welcoming people and quality healthcare. No matter where you choose to settle throughout this country, it’s possible for two people to live quite comfortably for less than $1,500 a month. This rule of thumb even applies in the countries two biggest cities — Hanoi and Ho Chi Minh City. Added bonus: English is widely spoken here, making it easy to get by.