Clarksville, TN – Retirement means different things to different people. Some envision their next chapter taking place abroad. Some want to stay at home for as long as possible. Others worry they may not have saved enough, so retiring elsewhere represents a way to stretch their dollars in areas with lower costs of living, as well as a way to experience other cultures.
Still others may see a retirement move as a new adventure. Whatever the reason, there are many things to consider when deciding whether to unwind in another country or right here in the States.
[1]Factors that go into making a move in retirement include finances, healthcare and quality of life.
There’s also your family’s comfort, and the costs of traveling back and forth to visit. Be sure to do your research and talk to your advisor about what’s in your budget.
Take a look at some popular domestic and foreign retirement locales. Then prepare to get out there and live a little. Or a lot. You’ve earned it.
10 Retirement Destinations with Low Cost of Living
- PRESCOTT, ARIZONA
- 3.7% below U.S. average for retirees
- An increasing variety of housing choices
- Home to Yavapai Regional Medical Center
- GRAND JUNCTION, COLORADO
- 4.4% below U.S. average for retirees
- Many job opportunities for working in retirement
- Two general hospitals and a highly rated VA Hospital
- SIOUX FALLS, SOUTH DAKOTA
- 5.8% below U.S. average for retirees
- Network of more than 70 parks and greenways
- Regional medical center
- LEXINGTON, KENTUCKY
- 7.8% below U.S. average for retirees
- Home to a robust lifelong-learning program
- Three hospitals and numerous clinic locations
- PUNTA GORDA, FLORIDA
- 5.2% below U.S. average for retirees
- Quaint downtown boasting dozens of restaurants and boutiques
- Home to Charlotte Regional Medical Center (and many others nearby)
- PUERTO VALLARTA, MEXICO
- A couple can live on as little as $1,618 per month
- World-class amenities including golf, marinas, shopping and dining
- Top-notch healthcare with private hospitals and many pharmacies
- CORONADO, PANAMA
- A couple can live well for around $1,000 per month
- Abundance of lifestyle, fitness and leisure options
- State-of-the-art health centers and clinics
- ALGARVE, PORTUGAL
- A couple can live on as little as $1,500 per month
- 3,300 hours of sunshine per year
- International-standard healthcare
- ABRUZZO, ITALY
- A couple can live comfortably for less than $2,500 per month
- Appealing climate and many recreation options
- Private, high-quality and affordable insurance available
- GEORGE TOWN, MALAYSIA
- A couple can live on $1,500 or less per month
- Exceptional and affordable cuisine
- Affordable healthcare and most doctors speak English
Sources: Expatarrivals.com; forbes.com; internationalliving.com; kiplinger.com; liveandinvestoverseas.com; money.usnews.com; topretirements.com