Yahoo Finance Countries With Great Weather You Can Retire To If Your Savings Has Dwindled
Two main considerations when choosing a place to retire are affordability and the weather. You can find affordable countries to retire in all kinds of climates. But if you are looking for good weather, you’ll need to focus on places near or below the equator.
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Here are nine countries with great weather that make good retirement destinations if you run low on savings. Unless otherwise noted, information is from the International Living 2024 Global Retirement Index.
Colombia
Columbia has the right combination of warm weather and affordability, with the bonus of a diverse mix of beaches, mountains and rainforests. You can live comfortably in affluent neighborhoods for as little as $1,000 a month in cities like Manizales, Bogota, and Pereira, and $1,500 to $2,000 in Medellin and Cartagena.
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Costa Rica
Here’s a tropical paradise known for the quality and affordability of its healthcare, which is available for a fraction of what Americans pay. You can find inexpensive housing near Costa Rica’s world-famous beaches. Tamarindo, located on Costa Rica’s north Pacific coast, offers warm and dry weather most of the year, and a retired couple can get by for about $2,500 a month.
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Malaysia
For expats, one of Malaysia’s main draws is a much lower cost of living than its Western counterparts. On average, the costs of housing, transportation, food and entertainment in Malaysia are one-third to one-fifth of what you will pay back home. The biggest expat communities are on Penang Island and in the capital city of Kuala Lumpur. You’ll find a relaxing lifestyle on Penang Island, known for its boating, fishing, swimming and beach activities.
Mexico
America’s neighbor to the south offers sunny weather, diverse geography, a rich culture and some of the best food in the world. You can also find plenty of affordable areas — even in hotspots like the Riviera Maya, where you can purchase a brand-new condo in the low $200,000 range. That price moves even lower if you move farther away from the beach. A typical retired couple in Puerto Vallarta can live comfortably for less than $3,000 a month.
Panama
This Central American country has become a magnet for expats because of its sunny climate, welcoming vibe and low living costs. One expat told International Living they could buy a 1,130-square-foot apartment for only $155,000. A two-bedroom apartment can be had for less than $170,000. Panama also offers affordable healthcare, no foreign income tax and low property taxes.
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Peru
If you’re looking for good weather and affordability, a top choice in Peru is the Huanchaco village, about 20 minutes from Trujillo. International Living says Huanchaco is the “perfect place to relax, eat wonderful, healthy food and enjoy the beach and its beautiful sunsets every day of the year.” A retired couple could easily afford to live here with a budget of $2,000.
Portugal
The secret is out about Portugal’s popularity as an affordable retirement destination. Expats are attracted to its temperate climate, charming towns, stunning scenery and low prices. Healthcare is both high-quality and affordable here, and couples can live comfortably on $30,000 a year or less in many regions of the country. The Algarve in southern Portugal is an expat-friendly option where you can get by with English due to generations of British influence. A couple can live well on a monthly budget of $2,000 to $2,400.
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Spain
Suppose you expand your search beyond expensive cities such as Madrid and Barcelona. In that case, you can live a comfortable lifestyle in Spain for $2,000 to $3,000 a month while enjoying the country’s sunny climate and world-renowned culture, cuisine and scenery. Regions such as Valencia and Andalucia are among the most affordable.
Thailand
About 3 to 4 million foreigners live in Thailand, and many are retirees. “The cost of living is relatively low, which means retirement savings can go a long way,” Peter Hamdy, founder of Auckland & Beyond Tours, told US News. You will find “delicious street food,” affordable health care, warm weather and a “great quality of life at a fraction of the cost compared to many Western countries.”
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