10 Cheap and Safe Countries for Retiring Abroad

Senior old woman tourist backpack
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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 benefits outside the United States.

Among the many reasons to take this plunge: adventure, friendlier tax laws, lower cost of living, less crime and a change of pace.

Investopedia compiled a list of affordable countries that rank high for safety using this data:

  • Safety. Based on the 2018 Global Peace Index by 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 New York’s.

The following, in alphabetical order, are Investopedia’s choices for a cheap, safe retirement abroad.

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