Easy Seniors Club presents: Affordable Retirement Retreats in the South
After so many years of hard work, you deserve a lovely place to settle down for a comfortable retirement. Unfortunately, in the current economic climate, that can be easier said than done. With the cost of living skyrocketing in the US, more and more Americans are deciding to spend their golden years in the south of the border.
Countries likes Panama and Mexico offer ex-pats a comfortable lifestyle with stunning scenery at a much more affordable price tag. If you’re planning your retirement and this sounds tempting, you may want to stay with us to find out more.
According to a recent study, the cost of living for one person in the USA is $2,112 per month, which is 2.96 times higher than it is in Mexico, for example, and 3.2 times higher than in Brazil.
If you hope to maximize your savings, you may want to opt for one of these affordable retirement retreats in the South!
1. Cuernavaca, Mexico
Nicknamed the “City of Eternal Spring,” Cuernavaca, Mexico, is a hidden gem located among the mountains. If you’ve always wanted to live somewhere close to nature, this option may be what you’re looking for.
The quiet oasis sits about 50 miles south of Mexico City and has been a weekend gateway for the city’s elite for many years. With a moderate, year-round climate, rich history, and lush gardens, the city is beloved by locals, tourists, and newly welcomed retirees alike.
As one of the most affordable retirement retreats, Cuernavaca sounds interesting, especially when we’re talking about the cost of living here: you only need about $661 per month to live a comfortable life here.
Rent is also highly budget-friendly, at $272 per month (for one person). For those wanting extra bedrooms, the city offers sprawling estates that are still affordable compared to the states.
2. Santo Domingo, Dominican Republic
The Dominican Republic’s capital city, Santo Domingo, is another place that earns a spot on the list of affordable retirement retreats in the south. Seniors seeking a more modern lifestyle will probably enjoy the hustle and bustle of the city.
Santo Domingo seamlessly merges old and new, with centuries-old colonial buildings standing side by side with modern architecture. Outdoor enthusiasts will love the city’s exquisite gardens, parks, and beaches.
As one of the most affordable retirement retreats in the South, you’ll be surprised to learn that you need less than $1000 per month. Rent will cost you about $370 per month, but getting a place to live around the city is costly. Transportation expenses are estimated at $170 per month for the average resident. Generally speaking, the cost of living here is still less than half of what it is, on average, in the US.
3. Florianópolis, Brazil
For retirees hoping to spend their golden years along the coast with amazing white sand beaches and endless surf, Florianópolis, Brazil, is one of the top affordable retirement retreats that will offer you these two things and more!
Known as Florida among locals, the city is the capital of the country’s Santa Catarina State. When it comes to the cost of living, you’ll be surprised to know that the amount one person needs per month to live comfortably in Florianópolis is nearly one-third that of the national average in the US.
As one of the most affordable retirement retreats, this southern place is perfect for ex-pats who dream of a place with a beach to spend their golden years without breaking the bank. The cost of living here is $712 per month. Rent for one person is also reasonable at about $327 per month, while food will run you around $233.
Read on to discover other affordable retirement retreats!
4. Chitré, Panama
Many Americans are surprised to learn that Panama regularly ranks as one of the most affordable retirement retreats in the world. The country is surprisingly budget-friendly, packed with history, and home to a near-perfect climate.
Ex-pats can be spotted throughout the Central American country, but they are highly concentrated in cities like Chitré. This is the capital of the Herrera Province and is vibrant but low-key, making it perfect for seniors hoping to slow down during their golden years.
The area is bordered by El Agallito Beach on the Pacific Ocean and houses world-renowned wetlands teeming with coastal creatures.
The cost of living here is about $847 per month, which is significantly less than the national average in the US.
5. Mazatlan, Mexico
Mazatlan is a beachside resort city located on Mexico’s west coast, and it’s one of the most affordable retirement retreats. Also known as the “Pearl of the Pacific,” the place was found in the 1500s. It’s famous for its scenery, culture, and food and is a bargain for ex-pats.
If you move here, you’ll live moments away from the ocean for pennies compared to the ridiculously high amount you need to live on the coast in the US.
Mazatlan is an old city, one of the few colonial strongholds on the western side of the country. The ocean’s edge is scattered with fifty-foot cliffs begging for a thrillseeker to jump.
With a cost of living of $699 and the rent for one person costing only $319 per month, this city is one of the most affordable retirement retreats.
6. Cuenca, Ecuador
Ecuador’s third-largest city is home to a flourishing community of expatriates. Colonial architecture, cobblestone streets, and a lovely climate make Cuenca ideal for seniors. The city is also known for being very safe and offering a high-quality of time at a reasonable price.
Since it’s located thousands of feet above sea level in the Ecuadorian Andes, the temperatures here are cooler than in many other places south of the border. When it comes to the cost of living, one person needs, on average, $741 to live comfortably in Cuenca. Rent for one person is about $325 per month, which is considerably less expensive than living stateside.
7. Punta del Este, Uruguay
Another remarkable seaside spot for Americans hoping to retire for pennies is Punta del Este, located in southern Uruguay. As one of the most affordable retirement retreats in the region, the city boasts a resort-like nature that makes it a highly sought-after place for retirees still hoping to live a glamorous lifestyle.
From one-of-a-kind boutiques to world-class dining, there’s a little something for everyone in Punta del Este. There are plenty of beaches as far as the eye can see, so if your retirement dream is to live close to one, you won’t want to pass up this steal.
The cost of living here is nearly half of what it would cost in the US—$1,088.
8. Álamos, Mexico
Last but not least on our list of the most affordable retirement retreats is Álamos. A small town of less than 25,000 people, this place is packed with history, and the state of preservation and restoration in its old center is beyond anything you’ve seen.
Of the dozens of Latin American cities that advertise themselves as a “bohemian place that’s home to artists, musicians, poets, and writers,” Álamos is one that actually has a large percentage of artists.
It’s also one of the southern towns with the most female ex-pats living on their own.
Which one would you choose to move to? Let us know in the comments section! Also, here’s a guide that may help you get ready for your golden years.
If you liked our article on affordable retirement retreats, you may also want to read 10 Worst States to Retire In if You Want to Save Money on Taxes.