What are the Cheapest Retirement Location in the World

The cheapest retirement location in the world will allow any retiree to settle down and enjoy a comfortable life with a low cost of living. While one will have to get used to a different culture and maybe even learn a new language, cheap retirement locations worldwide often have a beautiful climate, high quality medical care and many enjoyable forms of entertainment. Following are the five cheapest countries to retire to.



Argentina is a beautiful country in South America that has a lot to offer any retiree. It has beautiful beaches, scenic parks, large shopping malls, theaters, and a very low cost of living. A person can rent an apartment right in the center of Buenos Aires for only $5,000 a month or buy an apartment for around $2,000 per square meter.

A meal out would only cost a bit over $7. Buenos Aires has an excellent metro system and it only cost $20 for a one-month metro card. Entertainment in Argentina is also very cheap, making Argentina one of the cheapest retirement location in the world.



Bulgaria is a small country in Europe that borders Turkey, Greece and other exotic countries. It is beautiful and has many forms of entertainment for retirees. A person who wants to retire in the country could rent a one-bedroom apartment for as little as $300 a month.

A meal at a restaurant costs a bit under $7 per person, while a monthly subway pass comes to $25. Bulgaria is one of the cheapest retirement location in the EU, which makes it an ideal retirement spot for EU citizens.




Thailand is one of the cheapest retirement location in Asia. While the country does have a bad name thanks to the sex industry, it also has a lot to offer retirees. Thailand’s beautiful beaches, modern infrastructure, beautiful weather and fascinating culture have made the country a retirement hot spot. The cost of living in Thailand is very low. Groceries in Thailand are very cheap and one can eat out for less than $3.

Monthly rent for a one-bedroom apartment costs between $230 and $430. However, while Thailand is one of the cheapest retirement location in the world, it is not easy to obtain a retirement visa. A person will have to show over $26,000 in the bank and leave this money untouched for three months. One also has to show regular income from a pension or Social Security.



Many retirees opt to retire in Mexico and it is not hard to see why. It is one of the cheapest retirement location in the world and it is located right next to the United States. Mexico has high quality medical care, beautiful weather, beaches, mountains, gorgeous lakes and a modern infrastructure. One can eat out for around $7, obtain a monthly subway pass for $18 and rent a one-bedroom apartment in Mexico City, Guadalajara, Cuernavaca, or another large city for under $400 a month.



Panama is another popular retirement destination. The country uses the US dollar as its currency but is much cheaper than the United States. A meal out only costs $5 and a monthly subway pass is a mere $12. A person who wants to rent a one bedroom apartment in Panama City can do so for around $550 a month, although it is less than half that amount if one lives outside the capital.


In Closing

Retiring abroad can enable one to live a more comfortable lifestyle than he or she would be able to otherwise. Each of the cheapest retirement location or cheapest places to retire has its own unique advantages. A person who wants to retire abroad should consider the pros and cons of each country and choose the retirement location that best suits his or her needs and budget.

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