Retirement should be a time of peace and enjoyment; this will mainly depend on your retirement destination. Planning for your retirement destination might seem daunting, but it doesn’t have to be. Here is a list of twelve affordable destinations that are perfect for retirees with $265K in savings.
Peru
Peru is one of the most scenic destinations to retire, with its beautiful lakes, deserts, and mountains.
Peru is also one of the least expensive countries in South America. The median home price in Peru is $210,000, and basic expenses cost $1500-2000 per month. Health insurance is also cheap in Peru, $150-$200 per month.
Italy
Italy, known for its beautiful art, culture, architecture, and food, is an excellent choice for retirement. Despite the booming tourism, the country is quite affordable, with living expenses ranging from $1700 to $ 3500 per month.
The cost of living is much lower compared to the U.S. Italy has excellent healthcare in terms of quality and affordability, the health insurance won’t cost more than $135. The median home price in Italy is $189 per square foot, and the monthly rent is less than $700.
Sweden
Sweden, apart from being a beautiful country, is also one of the safest and most affordable countries to retire with $265K in savings. The country has a high quality of life; the average life expectancy in Sweden is 82.8 years.
The median home price in Sweden is between $115,000 and $297,500, and the average monthly rent ranges between $775 to $1590. The cost of living is 20% lower than in the U.S., and healthcare costs are nominal.
Not only is it affordable and picturesque, but Sweden is also a peaceful country that hasn’t participated in a war for over two centuries, making it a perfect fit for retirement.
Hungary
Hungary, also known as the “Land of Waters,” is famous for its thermal lakes and baths. The country is very affordable, with costs of living much lower than the U.S. and Europe. The median home price in Hungary is $218700, and the average rent is between $300 to $1028. The monthly expenses in Hungary are not more than $1350 per month. One of the main reasons Hungary is a great destination for retirement is because the country has universal healthcare and is free for the citizens, and the expat insurance is cheap, too.
Romania
Romania is the twelfth largest country in Europe and is more affordable than many EU member countries. It has a high quality of life, low cost of living, and diverse nature. The average home price in Romania is $1909.40 per square meter, and the rent is 76.4% lower than in the U.S. The cost of living for one person in Romania is $821, making it an affordable retirement destination with $265K in savings.
Türkiye
Turkey, or Türkiye, is a country with a rich history spanning thousands of years; the country is home to a diverse cultural heritage shaped by various civilizations, including the Hellenistic, Roman, Byzantine, and Ottoman empires. Today, Turkey is a member of NATO and an associate member of the European Union. The median home price in Turkey is $156,000, and the average rent prices range from $800 to $1300. An important aspect that retirees need to consider while looking for destinations for retirement is healthcare, and healthcare in Turkey is very cheap; it’s a popular destination for medical tourism.
Vietnam
Famous for being shaped like an elongated “S,” Vietnam is the fortieth best country for comfortable retirement and the fourth safest country to retire in Asia. The average home price in Vietnam is $2007 per square meter, and the average monthly rent ranges from $500 to $4000, the latter being on the luxury side. Monthly expenses of retirees in Vietnam range from $800 to $1200 per month, which is 70% less than in the U.S.
One of the main advantages of retiring in Vietnam is the availability of affordable house help.
Czech Republic
The Czech Republic, also known as Czechia, is a landlocked country in Central Europe. Historically, the country was known as Bohemia. It is an affordable destination for retirement with a high quality of life and low costs of living. The average home price in the Czech Republic is $4012 per square meter, and the average rent is 53.4% lower than in the U.S. Monthly expenses can range from $833 to $2772.
Argentina
Argentina, the birthplace of famous footballers like Lionel Messi, is the second-largest country in South America after Brazil and the eighth-largest country in the world. It is a scenic, relaxed country that is both affordable and expat-friendly. The average home price in Argentina is $175,000 to $200,000, and rent prices can start as low as $300. The average monthly expenses can range between $1000 and $1800. Anyone who wants a relaxed, family-friendly retirement would find Argentina to be a great fit.
Slovakia
Slovakia separated from the Czech Republic in 1993 after gaining independence. It is one of the cheapest countries in Central Europe, making it an affordable destination to retire with $265K in savings. The average home price in Slovakia is $2716 per square meter, and the average rent and utilities cost $638. Slovakia also has universal healthcare; expats can purchase insurance at affordable prices.
Uruguay
Uruguay is the second smallest country in South America. It is bordered by Argentina to the west and Brazil to the north. Uruguay is a hidden gem when it comes to affordable and secure retirement destinations.
The average home prices range between $100,000 to $225,000, and the minimum rent can be as little as $200. Healthcare costs range between $30 to $100.
Albania
Albania, also known as the “Land of Eagles,” is a beautiful country filled with mountains. It is one of the best places to retire because of its zero tax on foreign pensions. Albania’s average home price is $1253.26 per square meter, and the average rent ranges from $331 to $812. The monthly expenses of a single person in Albania are $655. Healthcare is also affordable in Albania, with a short visit to the doctor costing only $31.