I constantly dream of retiring (who doesn’t), and I would either like to retire abroad or constantly be on vacation. I found an article on MSN about 13 places to retire abroad and their average living costs. I thought it was a good article since I want to travel or retire abroad.
There are a lot of things to consider when retiring such as:
Health insurance
Food
Utilities
Phones
Internet and cable
Cars/Transportation
Fun, entertainment and traveling
Personal (clothes, hair, etc)
Of course, all of this adds up like crazy, and it’s recommended that in retirement that you have around 70% to 100% of your past salary for your yearly expenses. Many people think that you should save less, but not everyone will have their homes paid off. I plan on having around 85 or 90% per year.
Here is what the article says about places to retire abroad (these are all per month):
Argentina – $4,000
Belize – $2,200
Brazil – $2,700
Colombia – $2,000
Chile – $2,500
Ecuador – $2,000
France – $3,000
Italy – $2,400
Malaysia – $1,600
Mexico – $2,500
Panama City – $2,500
Thailand – $1,200
Uruguay – $2,300
You can obviously find places for MUCH cheaper than this, but I think these costs are for living very well in most of these countries, while some are just average living.
Have you thought about your retirement? Is retiring abroad something that you’ve thought about?
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