The Best Place to Retire Abroad in 2019 Is Remarkably Affordable

The Best Place to Retire Abroad in 2019 Is Remarkably Affordable
Photo by Monkey Business Images /

The average Social Security benefit is only $1,467 a month for a retired worker and $766 for a retired worker’s spouse — a total of $2,233 a month for such a couple — as of March.

But that’s no problem for folks who opt to spend their golden years in the Algarve region of Portugal.

There, a couple can live comfortably on as little as $1,700 per month, according to Live and Invest Overseas. But the Algarve offers a lot more than just an affordable cost of living.

Based on an array of factors, this coastal region of Europe ranked as the No. 1 place to retire abroad in Live and Invest Overseas’ 2019 Overseas Retirement Index. It also has taken the top honor several times in the past, including in the 2018 index.

The best places to retire overseas in 2019

The Algarve is one of 21 destinations that ranked in the latest index. Kathleen Peddicord, publisher of Live and Invest Overseas and author of the book “How to Retire Overseas,” describes these locales as “covering the spectrum of every lifestyle option.”

In fact, Peddicord notes that the annual Overseas Retirement Index is designed to help you make an informed decision as to which overseas retirement destination would suit you best.

The latest index ranks locales based on 15 factors. A few factors are financial, including taxes and real estate prices. Others address everything from the quality of health care and infrastructure to how commonly English is spoken and how easy it is to establish residency.

The top 10 destinations for 2019 are:

  1. Algarve, Portugal
  2. Annecy, France
  3. Bled, Slovenia
  4. Canggu, Bali
  5. Cascais, Portugal
  6. Città Sant’Angelo, Italy
  7. Cuenca, Ecuador
  8. Da Lat, Vietnam
  9. Da Nang, Vietnam
  10. Fortaleza, Brazil

Why the Algarve?

Portugal in general earned especially high marks in the categories of residency options and health care.

The nation’s Golden Visa program makes it easier to establish residency in Portugal than in other countries in the 2019 index, according to Live and Invest Overseas. And legal foreign residents who register with their local medical center can get public health care.

The Algarve in particular earned high marks in the category of crime and safety and for recreation opportunities — at least for those who enjoy golf courses and beaches. The region is also home to areas where you can get by on English alone.

Other advantages to this region off the Atlantic Ocean include short and mild winters and an undervalued real estate market. You could buy a place for $150,000 or less. If you’d rather rent, a two-bedroom apartment runs as little as $720 per month.

That would leave a retired couple plenty of Social Security money for other spending each month.

Learn everything you need to plan your dream retirement

The Only Retirement Guide You'll Ever Need gives you the knowledge you need to retire on your own terms. Sure, you can pay a financial adviser, but this online course gives you total control to create a custom retirement plan around the things that make you happy.

You're going to get expert, personalized advice. You'll have access to the latest tools. And when it's complete, you'll be able to approach your retirement confidently and with peace of mind.

It's time to plan the best years of your life. Let's get started.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next

10 U.S. Jobs That Are Disappearing Fastest
10 U.S. Jobs That Are Disappearing Fastest

Think twice before pursuing these shrinking occupations.

7 Secret Sections of Amazon That You Should Know About
7 Secret Sections of Amazon That You Should Know About

These little-known sections of are true hidden gems for deal-seekers and impulse shoppers alike.

How to Make Extra Cash Playing on Your Computer
How to Make Extra Cash Playing on Your Computer

Earn cash by reading emails, taking surveys, playing games, shopping and signing up for offers through this website.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started


Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories