Editor's Note: This story originally appeared on Live and Invest Overseas.
Rising costs of living in the United States are a serious threat to quality of life … particularly for people on fixed incomes.
Two-thirds of respondents in a survey by Corebridge Financial say that they fear running out of money more than they fear death.
But there’s a simple solution that can change retirement from something to fear to an adventure to look forward to … retiring overseas.
The world is packed with alluring destinations where you can retire in style on a budget of $2,000 a month or less — among them is Spain.
An affordable option in Europe
Spain, an Old World great, is a shining example of just how affordable Europe can be.
Every time I visit, I’m amazed at how inexpensive meals at nice restaurants are. I don’t think twice about eating at restaurants as often as I like whenever I’m there. You can have a full meal for less than $20 in Spain.
You can also travel all around the country efficiently and affordably by train, eliminating the need for a car in most cases. Spain has the second-longest high-speed rail network in the world, so the network is far-reaching.
Costa de la Luz, Spain
The area of the country I pinpoint for high-quality, low-cost living is the Costa de la Luz, a 120-mile stretch of coastline in the southwest that’s home to historic cities, well-appointed beach towns, and ancient hilltop villages.
Here, wine is literally cheaper than water. You can get a quality bottle of wine from the grocery store for 1 euro (currently $1.07).
You can also rent in one of those historic cities or well-appointed beach towns for about $700 to $800 per month. For that amount, you can rent a home in the historic zone of Cádiz, the oldest city in Western Europe.
Cádiz is often called “Little Havana” or compared with Old San Juan, Puerto Rico, because of its boardwalk beachfront backed by colorful ancient buildings … But Cádiz is the prototype on which those New World cities were based.
If you’d prefer a spot on the Costa de la Luz that feels more familiar, the town of Rota is 28 miles north of Cádiz. It’s home to the Rota naval base, shared by Spanish and U.S. forces, so there’s a large American presence here.
What to expect living in Spain
Also on offer is ancient history, fine beaches, a walkable town center, proximity to natural attractions, and solid golfing options.
It’s hot year-round in the Costa de la Luz, so you’ll want to run air conditioning inside your home regularly. This can kick up your monthly electricity bill to higher than you’re used to.
But you’ll save on other areas of life … Again, you can forgo the expense of a car since this region has a great local train network.
This area of the country is not dominated by tourists and expats as other areas are, so prices for day-to-day things and most forms of entertainment remain low.
You can keep yourself entertained by listening to live music, meeting friends for drinks in the plaza, hitting the beaches, playing golf and shopping at public markets.
The Costa de la Luz area is not just affordable. It also provides other benefits that can improve your quality of life, including the following.
Excellent health care
Spain’s health care system is one of the world’s best, and residents can join the national system with costs typically running around $80 a month.
Great weather and abundant sunshine
You can put your snow shovel down for good and get rid of your winter coat because temperatures are always warm in Costa de la Luz. They range from 60 degrees Fahrenheit (16 degrees Celsius) to 71 degrees F (22 degrees C).
Plus, the sunshine is always bright and dazzling here (the region’s name translates to “coast of light”), with over 3,000 hours of sunshine per year.
Beautiful coastlines
For this low monthly cost of living, you can live within a couple blocks from a beautiful, golden-sand beach.
This region is famed for its untouched beaches, where you can do all kinds of water sports, which include boating, kitesurfing, kayaking, dolphin-watching, fishing, and more.
A safe, low-stress lifestyle
You can breathe easy on the Costa de la Luz with no concerns about your safety. The region is laid-back, and people take life at a slower pace, content with the simple things.
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