A lower cost of living, better weather, lower taxes, and a better quality of life are all reasons to consider Moving to another country When you’re preparing to retire — and leave the United States in search of greener pastures, so to speak — it’s not an unheard-of idea. According to Aegon’s 2021 Retirement Readiness Survey, living abroad is an important retirement aspiration for 12% of Americans.
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However, while the ability to extend your retirement further is a key consideration when deciding where to move globally, safety is also of the utmost importance. To determine the safest countries to retire on under $2,000 per month, GOBankingRates used data from the Institute for Economics and Peace’s 2023 Global Peace Index to find the safest countries around the world, and used LivingCost.org to find the average monthly cost of living in each selected country. nation.
To help you weigh your options, Here are the safest places to retire abroad that won’t break the bank.
Canada
Average monthly cost of living for 2023: $1,901
You won’t have to leave the continent to move to Canada, which means this should make it easier for friends and family to visit. Not only that, but most people living in Canada settle only about 100 miles or so from its border with the United States. Montreal, the country’s second largest city, combines European charm with a North American lifestyle.
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Like the other places on this list, Canada is family-friendly and safe. Economic and political stability is strong, plus the country also has a well-developed public health system.
Croatia
Average monthly cost of living for 2023: $1,074
Croatia’s picturesque coastline along the Adriatic Sea features clear waters, charming coastal towns and a mild climate, making it the ideal destination for a relaxing Mediterranean holiday. Croatia’s cultural heritage, with its well-preserved medieval towns, ancient Roman ruins, and thriving arts scene, provides endless opportunities for exploration and intellectual stimulation.
Croatia’s healthcare system is highly regarded, providing high-quality medical services, and many healthcare professionals speak fluent English.
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Malaysia
Average monthly cost of living for 2023: $598
Malaysia offers one of the most affordable costs of living on this list, allowing retirees to enjoy a comfortable lifestyle without quickly depleting their savings. The country has beautiful beaches and lush rainforests, and its tropical climate means warm weather year-round, perfect for outdoor activities and relaxation. The diverse culture blends Malaysian, Chinese, Indian and indigenous influences.
The country’s government also offers a program called Malaysia My Second Home, which makes it easy to settle in the country, with flexible long-term visa options for retirees.
Denmark
Average monthly cost of living for 2023: $1,922
One thing that helps keep the cost of living low in Denmark is the universal healthcare system, which means that most citizens receive care for free. And if quality of life is what you seek, you’ll find it here too – the country is politically and economically solid. Denmark’s vibrant cities, including Copenhagen, Aarhus and Odense, are rich in culture and history, and offer retirees a wealth of museums, galleries and theaters to explore.
Another cost of living advantage in Denmark is that it has an abundance of public transportation available, which means you may not have to invest in purchasing and maintaining a car. The country’s efficient public services and well-maintained infrastructure also contribute to raising the standard of living.
New Zealand
Average monthly cost of living for 2023: $1,876
Soon-to-be retirees who want to live amid a wide range of landscapes – including icy fjords, subtropical forests, stunning alpine scenery, sandy beaches and rolling green hills – will put New Zealand at the top of their list. With a wide range of outdoor activities such as hiking, golf and water sports, retirees can enjoy an active and healthy retirement.
The country is known for its high quality of life and its friendly and happy people. The strong sense of community makes it easy for retirees to integrate into local life. It also has a highly developed public health system.
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Czech Republic
Average monthly cost of living for 2023: $1,284
Expatriate retirees should have no problem communicating in the Czech Republic. Although Czech is the official language, English is widely spoken by younger generations, especially in Prague, which is a paradise for history and culture lovers. The country’s efficient public transportation system and well-maintained infrastructure make it easy for retirees to explore the charming countryside, historical sites, and vibrant cities.
The country, which is also known as Czechia, offers free public healthcare and private healthcare. However, free public healthcare is only available when you are considered a permanent resident. In addition, the Czech Republic’s central location in Europe makes it an ideal base for exploring other European destinations, with excellent train and road connections to neighboring countries.
Bhutan
Average monthly cost of living for 2023: $409
Bhutan has the lowest monthly cost of living on this list, but retiring in Bhutan also offers a unique and culturally rich experience. One of the main attractions is Bhutan’s commitment to prioritizing Gross National Happiness over economic growth.
Bhutan’s tranquil landscapes, lush forests, and majestic Himalayas provide a picturesque backdrop for a peaceful retirement. The low population density also contributes to a quiet lifestyle.
Austria
Average monthly cost of living for 2023: $1,668
Combined with the average monthly cost of living being less than $1,500 per month, Austria is a country steeped in a rich historical culture. Not only is its architecture diverse and complex, but its capital, Vienna, was home to great classical composers such as Beethoven and Mozart. Other destinations, such as Salzburg and Innsbruck, offer a rich cultural tapestry with world-class museums, historic architecture and a vibrant arts scene.
Austria is also home to the Alps, which can offer some fantastic sights, as well as outdoor activities such as hiking, skiing and leisure walks through charming villages.
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Slovenia
Average monthly cost of living for 2023: $1,230
Slovenia is a small country in Central Europe with a population of just over 2.1 million people. Tourism greatly supports the economy, and literature, art and music are cultural mainstays. The country’s small size and efficient infrastructure make it easy to explore its rich cultural heritage, including medieval cities, historic castles, and vibrant festivals.
Retirees may find it somewhat difficult to communicate easily there, as Slovenian is the official language and English is considered a foreign language.
Portugal
Average monthly cost of living for 2023: $1,180
The opportunity to retire abroad in Portugal for less than $1,200 per month is likely to be tempting for many. Not only is it affordable, which can provide a more comfortable retirement, but it also has a moderate climate and friendly culture.
Although Portugal has a public healthcare system, retirees will have to have private health insurance for at least the first few years until they become permanent residents and are eligible for it.
The country also offers a variety of residency and visa programmes, such as the Golden Visa and the Non-Habitual Residence Scheme, which can provide tax incentives and simplified residency processes for non-EU retirees.
Japan
Average monthly cost of living for 2023: $1,155
Japan has a strong economic standing and a better-than-average public health system. Additionally, the average monthly cost of living is very affordable. The country has one of the lowest crime rates in the world, providing safety and peace of mind.
To save even more money, you can skip buying a car thanks to Japan’s well-developed public transportation network, including ferries, buses, subways and its famous bullet train. For those who appreciate a blend of tradition and innovation, Japan’s commitment to technological advancement pairs well with its natural beauty, including lush forests, natural hot springs, and picturesque cherry blossoms.
Cynthia Measom He contributed reporting to this article.
Methodology: To find the safest places to retire abroad, GOBankingRates has compiled a list of the safest countries from around the world sourced from the Institute for Economics and Peace – Global Peace Index 2023. Using the list of the safest countries, GOBankingRates was able to find [1] Cost of living and [2] Rental cost sourced from LivingCost.org. Countries whose total cost of living was above $2,000 were removed. The safety index and cost of living were recorded and added together to find places that are cheap and safe as well. These countries have been ranked and ranked to show the safest places to retire abroad. All data has been collected and is current as of August 24, 2023.
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This article originally appeared on GOBankingRates.com: 11 safer places to retire abroad for less than $2,000 a month
