15 Retirement Destinations That Are Affordable, and You Can Get By With English

Stephanie Allen

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Credit: Depositphotos

Inflation may be falling, but the cost of living isn’t. When you're living on a retirement budget, each dollar counts more than ever. It’s important to save money when possible, so you can enjoy a nice quality of life at a reasonable cost.

Places to do that in the United States are few and far between, but several locations around the world are affordable, have a better-than-average quality of life, and English is commonly spoken there. These destinations prove you don’t have to be wealthy to live well. 

1. Antigua and Barbuda

Antigua and Barbuda
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The twin Caribbean islands of Antigua and Barbuda have everything you could want in retirement: an idyllic place where you can spend your days relaxing or being as active as you want to be. For $1,083 a month, you can afford to do both.

All of the pink and white sand beaches on both islands are open to the public; some are more secluded than others if you’re looking to relax in privacy. Retirees with a sense of adventure can zipline through the Antigua Rainforest Canopy or take a helicopter tour.

2. Belize

Belize Cityscape with Lighthouse and Caribbean Sea
Image Credit: Shutterstock.

With a $956 per month cost of living, moving to Belize feels like an extended vacation but without hotel costs. The Central American country is ideal for retirees with a strong daring streak in them. 

Explorers might enjoy a caving excursion, seeing the stalactites and stalagmites that have formed over the years and underground waterfalls, while experienced divers can take in the beauty of the Belize Barrier Reef. 

3. Costa Rica

Drone shot of Manuel Antonio Beach near Quepos in Puntarenas. The best National Park in Costa Rica with the highest Biodiversity and lots of Animals, Wildlife, Tropical Plants and beautiful Beaches.
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Aspiring expats who want to live within a reasonably close distance to the U.S. should consider relocating to Costa Rica. Besides the benefit of proximity to the States, the monthly cost of living is $1,195. 

Another benefit of living in Costa Rica, besides the warm climate and welcoming culture, is access to their universal healthcare system or private plans, which are considerably less expensive than healthcare in the U.S. 

4. Dominica

The Dominican Republic
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Moving to Dominica is perfect for retirees who want the pleasures that come with island life, without having to worry about being overrun by tourists. A small island with a population of 70,000, Dominica has a more relaxed pace than other islands.

In addition to the $1,030 monthly cost of living, as a resident of the island, you’ll live tax-free since there are no global income, inheritance, or wealth taxes levied. You’ll keep even more of your money in your pocket. 

5. Grenada

Grenada
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A favorite relocation spot for American expats is Grenada, with its closeness to the U.S. and availability of direct flights to the States. Its $1,063 monthly cost of living and tax breaks make it a viable destination for budget-minded retirees. 

Called “The Spice of the Caribbean,” the country consists of three islands, Grenada, Carriacou, and Petite Martinique. As a resident, you’ll become a part of a vibrant community with warm weather all year long. 

6. Jamaica

Jamaica
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Living in Jamaica is different from vacationing there for a week or two, but it’s still an inexpensive place to relocate to. The $1,148 monthly cost of living is about what you’d spend for a one-week trip to the island. 

The first thing that probably comes to mind when you think about Jamaica is its pristine beaches and waters, but the island offers more, including the “fire water” of the Bath Mineral Springs and underground caves. 

7. Malaysia

Penang Malaysia
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One of the most affordable of the island paradises is Malaysia. With a $687 a month cost of living, it should nicely fit most if not all retirement budgets. Medical tourism is a big business in the country, but expats can only buy private insurance. 

Malaysians have a friendly culture that welcomes newcomers, which is reflected in their multicultural society. USAmericans can easily adapt to their new environment because, while Malay is the official language, English is spoken by many. 

8. Panama

Panama City, Panama
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Whether you live in the city or along the beach, USAmerican expats can live the good life in Panama for $1,260 a month. Retirees also have the option of participating in the country’s Pensionado program.

Legal resident retirees receiving a monthly pension of $1,000 or more are eligible for Pensionado perks, which include substantial discounts on entertainment, healthcare, bus fare, and airfare. 

9. Philippines

Manila, Philippines
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A frequent destination for retired expats and remote workers, the Philippines has the lifestyle you’re looking for in an urban, rural, or beach setting. Life can be as busy or as relaxed as you prefer.

Housing costs vary depending on where you live, but the monthly cost of living is only $615. Retirees can enjoy all the tropical experiences the islands offer without worrying about how they’re going to survive from month to month.

10. Portugal

Azenhas do Mar Portugal
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American retirees find Portugal a great place to relocate for several different reasons, including access to high-quality, free public healthcare, warm weather, and the $1,365-a-month cost of living, which is much lower than it is in the U.S. 

Portugal’s quaint villages, towns, and cities have picturesque architectural marvels that date back centuries, and many places hold cultural celebrations like the Popular Saints' Parades, the Flower Festival, and music festivals.

11. Spain

Alicante Spain
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Portugal’s neighbor is increasingly becoming a destination for USAmerican expats for many reasons, including the various paths to legal residency, excellent public safety records, and the $1,480-a-month cost of living. 

Residents who wish to travel around most of Europe can do so without a visa since Spain is a member of the Schengen Area. Living in Spain also means you’re close to the Canary Islands and Tenerife, both popular vacation spots. 

12. St. Kitts and Nevis

Saint Kitts
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No one would blame you if the twin islands St. Kitts and Nevis weren’t on your radar as a place to retire. The islands aren’t as well known as others in the Caribbean, but don’t sleep on them. You can retire there quite nicely. 

The twin islands may operate at a slower pace than what you may be accustomed to, but activities like glamping, hiking, and paddleboarding will keep you more than busy. To top it off, the monthly cost of living is only $1,241. 

13. St. Lucia

Fira de Santa Llúcia
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St. Lucia may not be the first island paradise you think of retiring to, but the $1,166 monthly cost of living makes it worthy of serious consideration. A major benefit of living there is the tax breaks, including no global income, inheritance, or capital gains taxes. 

Tax exemptions aside, St. Lucia is a beautiful Caribbean island with natural attractions found in all directions. The spectacular waterfalls at Edmund Forest Reserve and the beaches at Rodney Bay await your arrival. 

14. Thailand

Bangkok, Thailand
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If living in a tropical climate all year long, with friendly people and a good quality of life appeals to you, then you might want to relocate to Thailand. The $876 monthly cost of living and the countless things to do aren’t bad reasons, either. 

You’ll never lack things to do after moving to Thailand. You can welcome the warmer weather by attending the International Balloon Festival or observing the cool-down season with a visit to the largest sunflower field in the country. 

15. Vietnam

Saigon, Vietnam
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The Southeast Asia country has a fast-growing economy, which combined with a $624 monthly cost of living, encourages retirees to relocate there. Vietnam’s cultural diversity includes expats from America. 

The affordable cost of living makes it easy to engage in everything Vietnam has to offer, from spending a day at a wellness resort to golfing to squid fishing at night in Halong Bay. The activities are as varied as the society.

Note: The monthly cost of living is for one person, including rent. 

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