With the cost of living in the United States soaring, more and more people are setting their sights on an international destination that won’t break the bank. Some locales are so affordable that with enough savings, you may be able to quit your job or just work part time and still live in the lap of luxury.  International Living released its annual report on the World’s Best Places to Retire, and the results may surprise you. From coastal getaways to European hotspots, several of the countries are not only beautiful, but they are also extremely inexpensive.  So, while the list is geared toward retirees, these countries may be great options for anyone with a healthy savings account or who doesn’t mind living on a budget.

Uruguay
Currently, the cost of living in the United States is $2,213, with rent for one person costing an average of $1,399 per month. Even with a steady income, living in the U.S. has become unaffordable for many.   If you are sick of working your 9 to 5, consider the Latin American destination of Uruguay. The country is exquisite, offering nearly 400 miles of coast, rolling hills and four distinct seasons. The cost of living is nearly half of what it is in the states at $1,143. As noted by International Living, depending on the neighborhood you can find a nice apartment at the reasonable price of $526 per month.

Spain
Whether you want to spend your days soaking up the sun on the Costa del Sol or are more interested in the vibrant cultural and art scene of Madrid, you simply can’t go wrong with Spain. The European country is steeped in history, offers great healthcare and has almost every type of geography imaginable.  The cost of living in Spain is approximately $1,246 per month, although it might be more in bigger cities or resort beach towns. Even in the most expensive neighborhoods, it will likely still be somewhat cheaper than the average cost it takes to live in the U.S. Plus, the first-class healthcare will save you big time.

Malta
Looks can be deceiving. A quick glance at the tiny island (archipelago) of Malta may make you think that only the world’s elite could afford to live there. Fortunately, the exact opposite is true. The island boasts a surprisingly affordable cost of living at $1,340 per month.   The country, surrounded by the clear blue waters of the Mediterranean Sea, is stunning. Rent is somewhat expensive, depending on where you live, but it is worth it considering the 360-degree views. Not to mention the fact that food and other things are significantly cheaper than in the United States.

France
If you have ever wanted to dine on world-famous cuisine, shop in the finest boutiques or visit renowned museums, now is your chance. France is a bargain for someone willing to live on a budget. The cost of living in the country is $1,451 or 1.53 times less expensive than in the U.S.   Ex-pats who reside in the country enjoy low-cost healthcare, one-of-a-kind destinations and villas for under $200,000. So, if you have a nice-sized savings or are willing to pick up a part-time gig, you might just be able to drop the morning commute for sipping wine at a chateau in the French countryside.

Ecuador
For real bargain hunters, a country like Ecuador is cheap and safe with a very comfortable year-round climate. The cost of living for one person in the country is $785. Ecuador is geographically diverse with miles of endless beaches, mountains and rainforests, leaving a little something for everyone.  Housing is economical with the average rent for one person costing around $322 per month. Retirees or young adults hoping to quit the corporate grind in favor of a more enjoyable lifestyle can live in the country for far less than the U.S.

Colombia
It is no wonder that ex-pats are flocking to Colombia. The country is rich in biodiversity. The large South American country borders the Caribbean Sea and the Pacific Ocean. The Andes Mountains carve through the West while the Amazon rainforest sits to the East.   The cost of living in Colombia is almost one-fourth of what it is in the United States at $546 per month. Rent, food and transportation expenses are all markedly less than you would expect to pay in the states.

Portugal
With an estimated cost of living for one person at $1,073, Portugal offers Americans hoping to live abroad a low-priced European option. The country itself is minuscule compared to neighboring Spain, but what it lacks in size it makes up for in culture. Portugal oozes Old World charm and is known for its incredible seaside communities.  The country’s public transportation is second-to-none, meaning you may not have to ever purchase a car. With the money you save you may never have to work again.

Mexico
Many Americans, familiar with the tourist-packed cities of Cozumel and Cancun, may shake their head at the idea of living in Mexico, but the country has a lot more to offer. Mexico is an ex-pat’s dream. It is close to the states, offers reasonable healthcare and is considerably less expensive than the U.S. The cost of living in the county for one person is $786 per month with the average rent costing only $354.   Mexico is more than just a spring break getaway for college coeds. In addition to the white sandy beaches, it is known for, the country has luscious jungles and sweeping deserts. For Americans looking for a bargain, healthcare is substantially less costly than in the U.S., and becoming a resident is relatively easy.

Costa Rica
The Central American country of Costa Rica is the perfect place to live abroad without depleting your savings. The cost of living is around $1,000 and rent for one person runs approximately $440 per month.   The tropical destination has cost-effective healthcare and is only a short flight from the Southern United States. The locals, by all accounts, are friendly, welcoming ex-pats with open arms. The weather is gorgeous, the water is warm and the housing is highly affordable.

Panama
Panama tops the list of best places in the world to retire, which means it could be a good option for anyone to live cheaply. It is no wonder that it regularly claims the title since the cost of living is under half of what it would cost in the U.S. at $1,112 for one person. Rent runs approximately $588 per month and food takes up another $365, but outside of that costs are minimal.   The country is centrally located, has a mild climate and offers world-class beaches. It seems only fitting that this charming retreat makes the list.

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Would you live in any of these places?

Looks like a list of third world countries aside from France and Spain. Neither of which I’m jumping for joy to live in. They have a lot of the same issues we have in the US, and are anti gun liberal nations.

I could live in Spain.

Spain might be alright.

I've been to several of the others

Panama was pretty nice, but I'm done with tropics..

Panama if I was single.

Not South, East please

where's our hommie that lives in Thailand?

I'm ready to hang it up next year

There are a lot of other attractive places to live in the world.
The problem is they lack the 1A and 2A. If they had the free speech and firearms protections that (most) of the US
has, I could see myself moving.

With that said, places like CA and NY have worse gun laws than most European countries. Pathetic.

I think you could get more for your money in southeast asia, and it will probably be 100x safer than south America

Probably Malta aside from it being an island

Spain and Costa Rica have been on my possible list; I've visited several times and have almost learned Spanish.


ETA - You can have guns in Panama, but there's not much there outside of Panama City. An associate in Costa Rica told me, "Everybody has guns, just nobody talks about it."

I have never been to Spain.

I know a guy that retired to Nicaragua. He seems to like it. I’m sure the beach front house and smoking hot live in girlfriend 25 years his junior doesn’t hurt.

But I kinda like the music...

North Korea?

I see that they forgot to mention of the difference between healthcare in the US and these third-world bargains!  Healthcare is kind of important for retirement aged folks.

France, Spain, and Malta are the only places on that list I would consider acceptable.

I would go to Vietnam fwiw or possibly the rural areas of Japan.

Nah. Portuguese hate foreigners, Spain and France are loaded up with third world foreigners, and south American countries are either no-gos or not as cheap as they once were. My dad's friend just went to Costa Rica looking for a vacation home, and prices weren't much different from America at this point.

Mexico has decent healthcare that less expensive then here.

At one time I was considering Belize.

I lived in Argentina for a few years. I liked it for the most part. I know tons of Americans that have retired in Mexico - dollar goes a long way and the US isn’t far. I know some living in Portugal too, all of them like it. Philippines is another option. I’m in Bogota as I type this, I’d say the jury is still out as far as I’m concerned.

Tldr; you can live in a shithole country for not a lot of money.

If the Latin American countries on the list are such great places to live, why are so many of their citizens willing to break the law to get into the USA?  

Malta is beautiful and decent gun laws if I recall.

Depending on the area I could do Spain or France.  Rural France is amazing and they still love Americans.  Nothing like the cities.

Portugal I haven’t been too but I have family that highly recommended it.

Yes.

the first two easily.

Spain is on my list.

Malta too.



Central America, Panama is the only one that is remotely viable right now.

But I’ve been to Oklahoma.

All of that "free" healthcare is also expensive in terms of taxes on income, or other taxes.

I don't abuse it.

Dang I wish I could live in the US for $2200.  Sounds like a bargain!

Have been planning for awhile to retire down in Mexico.  For years I was looking at Belize but it has gotten very expensive

Malta please

Lots of ex pats moving to Mexico City lately.
Population is on par with NYC. So....

Spent a week North of Barcelona, years ago, it was a pretty nice place except for the massive influx of tourists, like myself.

Before I bought a house 3 months ago I rented a townhouse and was living for around $2200
$1350 rent
$300 for water electric and gas
Car is paid for, Car insurance like $350 for 6mo.
Food and health insurance

I’ve been to Costa Rica a few times. I could easily see myself living there.

Lack of a RTK&BA is the fatal flaw for me.

ETA- While you can apply for permission to possess a firearm in Costa Rica, as a permanent resident, it is highly discouraged and you are very limited as to the numbe and type of guns you can own. I am also told that ammunition prices are insane.

ETA2- Costa Rica is a very clean country. You see very little trash on the ground (unlike Daytona Beach) and even people of modest means take care of their little corner of the World. The nation prides itself on its safe drinking water and public schools (but they only teach reading, writing and math NOT advanced “cut your dick off instructions”). Also, drug use and public drunkenness is frowned upon.

GF's parents have a condo there and it was a really nice place.
Food and most things are way cheaper in MX city but buying a place to live is on par with big city US
Condos are 250 to 400k and houses are 700 to 1mil USD

I live in Mexico now.  In a lot of ways, the healthcare is better here than it is in the states.  IF you have money.  Most prescriptions are OTC and pretty cheap.  My cost of living here in Tijuana is ridiculously cheap compared to San Diego.

I've had too different guys on my team from Spain. One even moved back during Covid (So US salary/Spanish COL) but he's now happily back in the US. I never asked for details but that was enough to tell me living in Spain must not be all that great

It’s weird that they start out with Uruguay.    The price of things in Montevideo, is surprisingly high.    I was probably in the expensive area, but nothing is what you would call cheap.  

The “coastline” is a misnomer.    The beaches are nice, but the water is brown.  

Otoh, the people are civilized and polite.    I could live there.    

France?    Just, No.      I could live there too, but it wouldn’t be to save money.

Same thing with Spain.    Sure, You could live there, but it wouldn’t be cheaper than living in the South or Midwest of America.

I’ve been to Spain on vacation twice. Nope
I’ve been to Mexico for vacation once and work twice. Nope
I’ve been to France for vacation once and work more than a dozen times. Nope

I’ve been to several other countries in central and South America for work. None of them were appealing

I actually sorta plan to spend my later years as an expat somewhere.

I think politics in the US is going to go down hill too much.

But I’ll have the money to go where ever. We’ll see where’s cheap in 15 years or so.

I could deal with France, Spain, or Malta. And I already speak French and Spanish, so that’s nice.

Reality is, I want my children to build houses on family land and use my husband and I as free childcare/homeschool assistance. Can’t do that from an ocean away.

My monthly bills: $1050
condo is $650
electric bill $40
water bill $20
dining out every meal $300
500 mbps internet $25 (I pay $300 a year one time bill)
cell phone $15

ETA This can be much less if you don't live in a great condo like mine and if you cook your meals instead of dining out daily.

Portugal, France, Spain, and Panama.  I've spent time in all four of those so yes and in that order.  Uruguay, maybe.  The rest, no.

I thought the same way.  The amount of corruption in Malta is staggering and the density is brutal in some areas.   You have any negative interactions and things can go south very quickly.

Several members of my family doing that very thing. Working out well so far.

That said international travel is awsome ...wish I could drift through a few countries for 3 or 4 years.

I would prefer SE Asia. I love the tropics.

And then you are stuck on the island with peeps who don’t like you and are probably brothers -cousins or schoolmates of police officers ,immigration officers or any number of people who can fuck your life up.

The educated and middle class and above of South American countries have ALWAYS been able to travel to the United States on visas and/or emigrate legally. The people coming across the border are almost always uneducated poorest of the poor who come here because even the worst situation in the USA is better than anything they'd have.

I was lab partners for 3 years in my undergrad with a smokin hot ecuadorian girl. Her parents were multimillionaires and had homes across the USA. They bought her a house in the city where the school was located for her to live in while studying. I have more stories like this of wealthy South Americans who are living/working/travelling in the USA. Again, those who are the poorest of the poor are those who cross illegally into the USA.