5 Countries That Offer Cheap and Easy Retirement Living

U.S. citizens will have an easier time living or retiring abroad if they choose one of these nations. Here's why.

5 Countries That Offer Cheap and Easy Retirement Living Photo by goodluz / Shutterstock.com

Retiring in certain countries can save you a boatload of money and give you a higher standard of living. But it is easier to forge a new life in some foreign lands than in others, according to Live and Invest Overseas.

The publication recently compiled a list of the five countries to which it’s easiest for U.S. citizens to relocate.

Kathleen Peddicord — Live and Invest Overseas founding publisher and author of the book “How to Retire Overseas” — says of the five countries:

“These havens are easily accessible from the States — some you can even drive to. They offer straightforward residency programs specifically designed to attract expats. And, in all, you can live a much richer life on as little as $1,200 — that’s less than the average Social Security check.”

These countries are all in or near Latin America, a region that is even cheaper for U.S. expatriates today than it was just 10 years back, due to the current strength of the U.S. dollar.

The five nations — and the main reasons for which Live and Invest Overseas considers them easiest for American expatriates — are:

  • Belize: The Qualified Retirement Program, open to folks age 45 and older, is among the fastest residency programs.
  • Columbia: People are hospitable and the country is eager to attract foreign investors, including folks looking to buy property.
  • Dominican Republic: Residency is easy to obtain and living is cheap — even on Social Security.
  • Mexico: The country is one border away — a relatively easy drive — and home to many well-established expatriate communities.
  • Panama: The country is well-connected to most U.S. cities and is a hub for travel to anywhere else in Latin America.

In what foreign country would you most want to live or retire? Let us know why by commenting below or on our Facebook page.

Karla Bowsher
Karla Bowsher
I’m a freelance journalist and former newspaper reporter who has covered both personal and public finance. I've worked for a top 50 major metro daily and a community newspaper as well as ... More

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