1. The United States is the most expensive country to retire in, with a cost of living index of 102. The next most expensive country is Japan, at 103.
  2. Spain is the cheapest country to retire in, with a cost of living index of 68. The next cheapest country is Italy, at 69.
  3. Switzerland is the cheapest country to retire in, with a cost of living index of 50. The next cheapest country is Austria, at 51.

Malaysia

Apart from its warm tropical climate, with a cost of living index of 39.12, Malaysia is one of the cheapest destinations you can choose to enjoy your retirement. The cost of living in Malaysia is about 80% less than in the United States. Food that would cost you $15 in America, would only cost $2.27 in Malaysia. As for housing cost, although it varies with location, it’s still way cheaper. With your international health insurance, you should be able to access affordable health care services from public and private hospitals by well-trained English-speaking healthcare personnel. Malaysia also ranks as the 16th most peaceful country in the world. You will also get to learn and enjoy the diverse culture.

Portugal 

Portugal is a country located in Europe that is rich in culture. Its dense forests, sandy beaches, and friendly people make it truly beautiful to retire. The amazing thing is that you don’t have to hit the jackpot to afford this paradise. The cost of living index is as low as 49.52! Houses are very affordable; you can get a fully furnished 5-bedroomed house for only $360. You can get your cup of coffee at only 79 cents. As for healthcare, you won’t need to worry, with a healthcare quality index of 71.88, you are guaranteed quality and affordable healthcare.

Czech Republic 

The Czech Republic is a peaceful country that is ideal for expatriates. The cost of living is about 42% more affordable than in the United States, and they currently don’t give retirement visas. However, you can instead use a student visa and enroll to learn the Czech language. It may be a bit of a hustle, but it’s worth it, especially with the world-class health care that the country provides.

Slovenia

Slovenia is a safe, affordable country with beautiful scenery. It’s ranked among the top 10 safest places in the world and has a healthcare quality index of 64. The cost of living is 20% cheaper than in the United States, with houses extremely cheap. The only challenge could be getting a permanent residence visa for non-EU members, but you can get a one-year residence visa which is renewable every year for up to 5 years after you apply for permanent residence. ..

Romania

The beauty of these countries is something that can’t be found in other places in the world. The cost of living is much cheaper than most places in Europe and the US, and you only need between $300 to $600 depending on the location to rent a good one bed-roomed house. The only complication could be acquiring a retirement visa, but this can be worked around by investing in a business through which you can get a visa. Another downside could be the quality of health in public hospitals, but you can always get quality healthcare from a private hospital on a small budget.

Conclusion 

There are many other countries in which you can retire without breaking the bank. However, it is important to take your time to consider the quality of healthcare they provide, how health insurance works, how safe the place is and how the visa allocation works. But most importantly, you should consult a financial advisor so that you can plan yourself accordingly and make an informed decision depending on how much money you have.