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Cheap Places to Retire

Debopriya Bose Sep 30, 2018
Low cost of living with prompt medical facilities and security arrangements are some of the aspects that you must keep in mind while looking for affordable places to retire. Mentioned here are some points to consider while deciding on the place.
Retirement marks the end of your working life. However, that doesn't mean that you need to stop having fun. In fact, most people look forward to this time. You can pursue the hobbies you did not have time for during the hectic schedule of your working years.
Looking for affordable areas to retire is a growing trend. Countries like Cuba, Malaysia, Panama, Mexico, Hungary, and Costa Rica are very popular.

What to Look for?


You do not have the freedom to choose the place of residence while you are employed. Your job is the sole deciding factor as far as the country or city you live in is concerned. However, once free, most people show an inclination towards living in a place with a conducive climate. Consider places having good climate with sunny days and moderate rainfall.

Cost of Living

Some people work even after they retire. However, this might not be the case with most retirees. With no active source of income, looking for a place that is cheaper than their native country is the most prudent approach to look for places to retire.
This ensures that the all the effort you've put into financial planning for retirement is put to good use. Hence, look for places where you'll be able to ensure comfort.

Medical Industry

This is very important, given the fact that old age is prone to a number of medical conditions. Checking a place for this parameter becomes all the more crucial when looking for inexpensive places to live after retirement.
In case you have special medical requirements that need to be addressed, check if that country has the expertise to deal with medical emergencies of a similar nature. The best places for retirement are the ones with good medical facilities.


Maybe your house is right by the beach where you can sit and enjoy the sunset or take a walk on the sand in the evening. But all these attractions should not make you overlook the security aspect of the place.
Consider countries where the crime rate is low and the security services are prompt and efficient. Look for localities where there are expatriates from your native country. Ensure that you live in populated areas where help is more readily available than desolated places.

Questions to Address before Deciding a Place

* Is it an urban community that you are looking for? One that would provide you with the benefits of an urban center like restaurants, shopping centers, and a high population density? Or are you still country folks at heart who would prefer a quieter life, close to nature without too many people around?
What kind of house do you want after retirement? Do you anticipate entertaining family and friends or do you intend to lead a quiet life?

How close do you want to be to your dear ones? Will traveling be a hassle to attend family events?

* Do you want to live in a retirement community or in a normal neighborhood with families from all walks of life?
All these questions are worth being addressed as you may not be able to get all the facilities you desire. Try to be clear about everything you want and absolutely can't do without. Make sure that you get a place with facilities worth the price.