Retirement is a big part of the American Dream. However, with the decline of defined benefit pension plans, affording a comfortable retirement can be a challenge. Money savvy individuals are finding that moving to a less expensive location can stretch those retirement dollars further. Enjoy this list of the 6 best retirement destinations to spend your golden years—and your budget!
1. Cebu, Philippines
Cebu is the oldest city in the Philippines and the capital of the Cebu province. At an estimated $900 per month, according to TheStreet.com, the cost of living is affordable for expat retirees, and the city is very English-friendly.
Both retired and younger individuals enjoy the beaches, nightlife, and nearby snorkeling and scuba diving locations found within this lovely tropical climate.
2. Barcelona, Spain
One of the most vibrant cities in Europe, Barcelona is both affordable and enjoyable. Gorgeous beaches, delicious tapas, and innovative architecture make this city a popular destination for tourists and retirees alike.
And, at an estimated cost of $1,580 per month, it is affordable, too.
3. Las Terrenas, Dominican Republic
This cosmopolitan Caribbean town sits right on the coast, therefore offering extensive ecotourism activities.
For an estimated $1,670 per month, expats can fish and explore the resort side of town or explore the streets of the colonial area.
4. San Miguel de Allende, Mexico
In general, the cost of living in Mexico is much lower than in the United States. The combination of low costs and warm weather make this country a popular destination for retirees on a budget.
At an estimated $1,460 per month, the English-friendly city of San Miguel de Allende boasts a large American retirement community. Locals enjoy the colonial character of the city, complete with cobblestone streets and beautiful, elaborate Catholic churches.
5. Chaing Mai, Thailand
A popular destination for online writers, Chaing Mai provides for a large English-speaking expat community. Nearby historic temples and thriving markets keep tourists and retirees alike engaged and excited about the local history and culture.
And, at an estimated cost of $1,095 per month, it is much more affordable than larger Asian cities like Tokyo.
6. Medellin, Colombia
The days of serious danger in Medellin have been replaced by fun and relaxation, as the city now hosts beautiful parks, lively restaurants and bars, and sparkling beaches.
Local sites and museums offer history and culture, and at $1,295 per month in living expenses, Medellin is an excellent destination for retirees on a budget.