When deciding on the best place to retire, stretching your retirement savings is a major factor. Kathleen Peddicord, author and publisher of Live and Invest Overseas, has created an overseas retirement index that identified 21 of the world’s best places to enjoy retirement based on 12 categories that include, in addition to cost of living, climate, English spoken, entertainment, environmental conditions, existing expat community, health care, infrastructure, real estate, residency options, safety and taxes.
Based on the Live and Invest Overseas retirement index, here are six cities where you could retire simply but comfortably on a budget of $1,250 per month:
“Cebu is a popular choice among expats,” Peddicord said. “It doesn’t have all the amenities and services of Manila, but it is a reasonably comfortable place to be, with much of what an expat might hope to find in a new home away from home.” The city offers amenities that can’t be found in the smaller towns and villages, and there are several colleges and universities in Cebu offering courses in English. At left, Fuente Osmena Circle in Cebu.
Retiring to Colombia is “not nearly as nutty a notion as it may sound,” says Peddicord. “And, the city of Medellin has a great deal to recommend it, including: a temperate climate year-round, a great diversity of cultural and recreational offerings, infrastructure that works, and a very affordable cost of living. You could rent a comfortable apartment in this appealing city for $300 per month or less…or invest in an apartment of your own for $60,000 or $70,000. At left, Botero square in Medellin, which has 23 sculptures by Fernando Botero displayed in the street.
Hoi An, Vietnam
In 1999, Unesco found the old downtown’s remarkable mix of ancient Chinese and Japanese architecture a unique cultural treasure worthy of preservation and proclaimed Hoi An a World Heritage Site. According to Peddicord, Hoi An may be an ideal destination for those who are considering a move to Vietnam. The town offers retirees and families a high quality of life at a deliciously affordable price—it has one of the lowest costs of living to be found anywhere. The rapidly growing expatriate community is dynamic and involved+one of the things that makes living in Hoi An particularly attractive.