When looking for the cheapest places to retire one is usually faced with two options:
- Either to find a relatively affordable place in one's own country
- or to go the whole hog and find a much cheaper place in another country.
Although this decision involves very personal choices a growing number of people are now looking at the second option as it usually offers the cheapest places to retire.
While there are many reasons for considering relocation to a cheap country, some compelling ones are:
- Having a quality of life which one could never afford at home;
- The challenge of a new beginning;
- A feeling of resentment towards a government which one believes has resulted in contributing to ones dire financial situation;
- A fear that things at home are getting worse.
I see this gaze beyond the borders of your country of birth as the same choice my grandfather made when he came to South Africa from Ireland in the early 1900's ... a move to where there are greater benefits and opportunities.
Cheap places with many benefits
It is a fact that many of the cheapest places to retire are located in the most beautiful and exotic locations on earth.
Although these places are often in the developing world they offer a fantastic alternative lifestyle to retirees.
Often these economies are in a better overall state than the highly indebted first world countries and many have been savvy enough to realise that the "retirement market" is an attractive, growing niche.
As you look at this picture you may be wondering where this beautiful place is ... it is a small town, Port Alfred, in South Africa!
To many people this country will conjure up thoughts of murder, mayhem and corruption .... but there are also many tranquil and peaceful places to enjoy. While I know that there are many problems in the country, my point is that we often are too hasty and prejudiced in making our judgments.
Points to consider
In many cases people will be forced to consider one of the cheapest places to retire as the world as we knew it, or thought it would be, has drastically changed. This means that some compromises will have to be made but to many people this decision will turn out to be an exciting adventure.
One should remember that many of the affordable places to retire are in non-English speaking locations. While this may add to the adventure it will certainly be a hurdle to overcome.
So over the next few years the trend will grow as more and more people consider the world's cheapest places to retire.
This is made easier as many of these countries are:
- building hospitals and investing in improved medical facilities;
- developing attractive tax regimes;
- investing in technology such as high speed internet;
- encouraging the development of gated communities to ensure the safety of residents.
Enabled by the weather another attractive feature in these countries is the range and affordability of recreation.
For example, within half an hour from my home there are golf courses, bowling greens, tennis courts, horse riding, scuba diving, walking, mountain biking, deep sea fishing, quad biking and river rafting in fact just about any summer outdoor activity is probably available. With the added advantage that virtually all are available year-round.
Another really important point is that everything is cheap!
Some people will be driven by a passion to give back to society and in these countries you will have many opportunities to fulfill your mission. In many of the cheapest places to retire there are countless ways to contribute to the very poor communities. Anyone with skills, expertise and drive can have a major impact.
The weather in many of these places is ideal. The mild winters and hot summers ensure that outdoor living can be enjoyed all year round.
By considering one of the cheapest places to retire you may put yourself in a position to live out your retirement by taking advantage of the best of both hemisphere's.
In the event of not moving permanently, house swapping, AirBnb, or renting may present an alternative lifestyle. In many countries property rents have plummeted and this offer attractive opportunities for extended visits ... often at no more expense than staying at home.
Places to consider
Attractive countries worth considering include:
- Central America - Belize, Nicaragua, Costa Rica, Panama
- South America - Equador, Colombia, Uruguay, Argentina, Brazil
- South East Asia - Phillipines, Thailand
- Africa - Morocco, South Africa (where recently in our area I've noticed many English and German people)
Open your mind and dream - one of the cheapest places to retire may be your ultimate nirvana!
Retiring to Costa Rica: A popular retirement destination.
Retire in Central America: Many of these countries are paving the way for retirees
Retiring in Belize: Friendly Caribbean paradise.
Retiring in Thailand: Asian retirement mecca with First World service and hospitality