Cheap Countries to Retire In

Darryl Bachmeier
Jul 19, 2020
Finance


Departures are always hard to handle, but the ones which you expect for good are even difficult to handle. What is the fear behind it? It’s an idea to live a smooth, comfortable yet luxurious life while remaining within the assigned budget. It is not easy to live both stylish yet cheap living without having to worry about breaking the set boundaries of a bank account.

The article highlights things which need to be considered once looking for a country to live a retired life.

  • First and the foremost thing to be considered in determining the amount of money you have in hand. The money which you have to live within one month and how much saving you intend to make at the end of the month.
  • There are some countries where the cost of living is cheap but these may not be your preferred choices to live after retirement. The place you select should be an amalgamation of decent/stylish living standards, cheap living, equipped with all essentials of life and is secure.
  • It is wise to become a part of a country retirement plan which offers zero taxable income.

Let’s Explore Different Options:

Bulgaria

Amongst all EU member states, Bulgaria offers the lowest prices for services and goods. Since inflation is causing some countries to bear the impact. Still, the economic situation causes the prices to remain restricted within Bulgaria.

Though Bulgaria has greatly reduced its investment in many developmental projects owing to bureaucracy and red tape, still it can be a good option for to-be retirees so enjoy low price living in the country. If you intend to buy living outside the main city, then many people offer the option and a lot of real estates are available.

Panama

Panama offers a life of a millionaire which is comfortable, decent, modest yet not expensive. If the word “cheap” is relative, then living in Panama is a synonym to it due to its affordable. The apartment in Panama is fixed with all luxuries like pool, gyms, bars alongside the sea. Life can be further ease by hiring driver, maid and chef. The total expenditure for all these is very small as compared to other countries. Due to the strategic importance of the area, it is closely monitored, managed and watched by the US authorities. Besides other benefits, medical facilities, entertainment and discounts are some other benefits could be enjoyed by retirees.

The Philippines

The Philippines is yet another country which offers attractive programs for people retiring to be under the heading of “Special Resident Retiree Visa Program”. You have the liberty to make multiple entry/exit before finally settling down in the country. The annuity income, as well as the pension, is also easily be kept with no income tax with a provision of importing belongings. The overall cost of living in the Philippine is pretty low with the excellent healthcare facility.

Cuba

After the US relaxed policies on Cuba, the country now offers a better place to live a retired life. With the low cost of living, the country is pretty peaceful and offer good living as long as you know how to speak Spanish. The doctor to patient ratio in Cuba is one of the best in the world, which makes the healthcare facility free in the country. Overall environment, culture is very rich and stunning due to scenery landscapes. However, one drawback of the country is its poverty which makes is probably not a good option in the presence of other attractive nations.

Malaysia

Malaysia is known to be a very rich country, but you need to live in a place to believe its living standards. The place is exotic, beautiful, vibrant, tropical besides offer affordable living. The county has cheap property and offers perfect tourist resorts. Life in Kuala Lumpur is very fast and good to start your retired life. Children at a young age learn to speak English and people enjoy a good medical facility.

Belize

One good thing about Belize is its post-retirement plan which allows qualifying individuals to have tax free life. On the other hand, you will end up paying more than 50 per cent of the total taxes which makes the place less attractive to live. When applying you have the option to include both your spouse dependent on the list as well. Since you won’t be getting any employment, but getting yourself a business is much encouraged in the country.

Above is about some countries which offer attractive post-retirement plans and good environments to live after retirements. It is all dependent upon you which offer you choose based upon your total income after retirement and family size. It is also about how to relax you intend to live your life and the environment of which country suits you.

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