Where Should I Live in Low Cost after Retire In 2022?

When you're ready to retire, there are many reasons to consider relocating to another country, and leaving the United States for what might be considered "greener pastures" is not an unheard-of idea. These reasons include lower living expenses, better weather, lower taxes, and a higher quality of life. Living overseas is a significant retirement ambition for 12% of Americans, according to the Aegon Retirement Readiness Survey 2021.

While being able to increase the size of your retirement nest fund is an important factor when choosing where to migrate internationally, safety is also of the utmost importance. GO Banking Rates utilized data from the Institute for Economics and Peace to identify the safest nations worldwide and Living Cost to establish the average monthly cost of living in each chosen nation to come up with a list of the best places to retire for under $2,000 per month.

Here are the top nine most secure locations for retiring abroad on less than $2,000 a month to help you weigh your options.

You are looking to retire someplace safe? Look north, and abroad.

9. Ireland

$1,974 is the average monthly cost of living in 2022

Ireland is home to a wealth of cultural traditions in addition to beautiful scenery. English is one of the nation's official languages, along with Irish, so you won't have to worry about a language barrier either.

Moving to the Emerald Isle has other benefits, such as a stable political and economic environment.

8. Canada

$1,832 is the average monthly cost of living in 2022

Moving to Canada won't require you to leave the continent, making it simpler for friends and family to visit. In addition, the majority of Canadians live within a hundred miles or so from the country's border with the United States.

Canada is a safe, family-friendly destination like the others on this list. In addition to having strong political and economic stability, the nation also boasts an advanced public health system.

7. New Zealand

$1,669 is the average monthly cost of living in 2022

New Zealand will be at the top of the list for soon-to-be retirees who want to live among a wide variety of scenery, including fjords made by glaciers, subtropical forests, breathtaking Alpine panoramas, sandy beaches, and rolling, green hills.

The nation is recognized for its superior standard of living and its amiable populace. It also has a public health system that is fairly advanced.

6. Denmark

$1,665 is the average monthly cost of living in 2022.

Denmark's universal healthcare system, which ensures that the majority of its residents receive care free of charge, is one factor that contributes to the country's cheap cost of living. Additionally, if quality of life is what you're looking for, you may find it here as well because the nation is stable politically and economically.

A further benefit of Denmark's low cost of living is the country's extensive public transit system, so you might not need to spend money on purchasing and keeping a car.

5. Austria

$1,467 is the average monthly cost of living in 2022.

Austria is a country with a rich historical culture and a cheap average monthly cost of living that is under $1,500. Along with having a diverse and intricate architectural style, Austria's capital, Vienna, was also the birthplace of famous classical composers like Beethoven and Mozart.

The Alps, which may provide for some excellent viewing, are also found in Austria.

4. Japan

$1,171 is the average monthly cost of living in 2022.

Japan has a strong economy and a public health system that is above average. Additionally, its monthly average cost of living is very reasonable.

Due to Japan's well-developed public transportation system, which includes ferries, buses, and its renowned bullet train, you may avoid purchasing a car to save even more money.

3. Slovenia

$1,059 is the average monthly cost of living in 2022.

The population of Slovenia, a little Central European nation, is slightly over 2.1 million. The economy is primarily reliant on tourism, and literature, the arts, and music are the cornerstones of its culture.

Although English is regarded as a foreign language and Slovenian is the official language, retirees may find it challenging to converse effectively there.

2. Czech Republic

$1,007 is the average monthly cost of living in 2022.

In the Czech Republic, pensioners from outside shouldn't have any problem conversing. Although Czech is the official language, many younger people, particularly in Prague, speak English.

The nation, sometimes known as Czechia, provides free access to both public and private healthcare. Free public healthcare is, however, only accessible if you are regarded as a permanent resident.

1. Portugal

$977 is the average monthly cost of living in 2022

Many people would probably find it alluring to retire abroad in Portugal for less than $1,000 a month. It not only has a moderate temperature and a welcoming culture, which may provide for a more comfortable retirement, but it is also reasonably priced.

Despite the fact that Portugal has a public healthcare system, retirees will need private health insurance for at least the first few years until they are qualified for it and a permanent resident.