How about an extended international vacation? That seems to be the choice for more and more Americans who are moving to other countries.
The Social Security Administration reports that more than a half-million people are receiving their retirement benefits outside the United States.
Among the many reasons to take this plunge are: adventure, friendlier tax laws, lower cost of living, less crime and a change of pace.
Investopedia has compiled a list of affordable countries that rank high for safety using this data:
- Safety. Based on the 2018 Global Peace Index from the Institute for Economics & Peace, a nonprofit think tank, this index uses 23 qualitative and quantitative measurements to rank 163 nations for “peacefulness,” from the calmest (No. 1, Iceland) to the least-peaceful (No. 163, Syria.)
- Affordability. Numbeo’s 2019 Cost of Living Index identifies affordable locations, ranking them by comparing their cost of living (including groceries, restaurants, transportation and utilities, but not housing) with costs in New York City. If a country’s score is 92.40, for example, its cost of living is 92.4% of NYC’s.
The following, in alphabetical order, are Investopedia’s choices for a cheap, safe retirement abroad.