Thinking of retiring early?
The fact is, the cheaper the retirement location, the sooner you can retire. Many people envision living in a shack in the middle of the desert when envisioning inexpensive retirement locations. But nothing could be further from the truth. There are many great places to live that probably cost significantly less than your current location.
If you’re willing to move out of your state or to another country, there are many options. If you’ve never had the chance to travel abroad, this might be the perfect opportunity.
These 5 locations will keep you happy and busy with a comfortable lifestyle:
Guam can be considered Hawaii’s less expensive alternative. Guam has many benefits for those hailing from North America. The currency is the US dollar, English is spoken, and it’s a United States territory.
- Housing costs are modest, though other items can be more expensive since nearly everything is imported. The medical care is good and your current insurance is likely accepted.
- If you’re looking for a Hawaiian climate without a Hawaiian price tag, Guam might be the answer.
Nicaragua is among the most beautiful countries in the western hemisphere. Nicaragua is a colorful country that seems to have it all. Beautiful beaches on both the Pacific and the Caribbean are enough of a reason for many expatriates to call Nicaragua home. The fact that it’s among the least expensive countries in the world is icing on the cake.
- Rent for a decent apartment is around $400/month.
- You can get medical insurance for around $100/month.
Knoxville, TN is a great location if you enjoy the outdoors and city life. With approximately 700,000 people, Knoxville is big enough to have the amenities that many enjoy. But it’s not so big to have the hassles of major metropolitan areas.
- Outdoor amenities abound: Smokey Mountains, Blue Ridge Mountains, fishing, hunting, and hiking.
- Knoxville also enjoys a thriving music scene.
- Another advantage is that there’s no state income tax.
Columbus, Indiana is commonly referred to as the “Athens on the Prairie.” A smaller town of approximately 45,000 people, Columbus is known for its incredible architecture. Indianapolis is approximately 45 minutes away and offers professional sports teams, several museums, and is home to the NCAA.
- Columbus even has its own roller-derby league! Close to state parks and forests, there’s plenty to do outdoors. Columbus combines quirkiness and small-town charm in a very affordable package.
Buenos Aires, Argentina is one of the least expensive large cities in the world. Argentina is famous for its medical system. The public health care system, combined with a surplus of medical staff, makes health care costs extremely low. Medical tourism is very popular.
- The public transportation system is excellent and inexpensive. Buenos Aires provides a European feel without a European cost. A nice apartment can be found for less than $400 a month and a subway ticket is only 50 cents. Restaurants tend to be expensive, however.
- With a population of almost 3 million, it’s the second largest city in South America. If big-city living appeals to you, Buenos Aires is an excellent option.
Planning your early retirement includes finding an excellent retirement location. Stretching your dollars further can make all the difference in the world. By choosing the right spot, you’ll not only be able to retire earlier, you’ll also be able to enjoy your dream location with a very comfortable standard of living.