9 Safest Places To Retire Abroad for Less Than $2,000 a Month
A lower cost of living, better weather, lower taxes and a higher quality of life are all reasons to think about making the move to another country when you get ready to retire -- and leaving the U.S. for greener pastures, so to speak, is not an idea that's unheard of. According to the Aegon Retirement Readiness Survey 2021, living abroad is an important retirement aspiration for 12% of Americans.
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However, while being able to stretch your retirement nest egg further is a key consideration when deciding where to relocate globally, safety is also paramount. To determine the safest countries to retire for less than $2,000 per month, GOBankingRates used the Institute for Economics and Peace data to find the safest countries across the globe and LivingCost.org to find the average monthly cost of living in each selected country.
To help you weigh your options, here are the safest places to retire abroad that won't break the bank.
2022 average monthly cost of living: $1,974
Along with stunning scenery, you'll find rich cultural traditions in Ireland. Additionally, you won't have to worry about a language barrier because English is one of the country's official languages, along with Irish.
Other advantages of moving to the Emerald Isle include a stable economic and political climate.
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2022 average monthly cost of living: $1,832
You won't have to leave the continent to move to Canada, which means it should make it easier for friends and family to visit. Not only that, but most people living in Canada settle only about 100 miles or so from its border with the U.S.
Like other places on this list, Canada is family-friendly and safe. Economic and political stability are solid, plus the country also has a well-developed public health system.
2022 average monthly cost of living: $1,669
Soon-to-be retirees who desire to live amongst a vast diversity of landscapes -- including glacier-created fjords, subtropical forests, stunning Alpine vistas, sandy beaches and rolling, green hills -- will put New Zealand at the top of their list.
The country is treasured for its high quality of life and its friendly, happy people. It also has a pretty well-developed public health system.
2022 average monthly cost of living: $1,665
One thing that helps keep the cost of living low in Denmark is its universal healthcare system, which means that most citizens receive care free of charge. And if quality of life is what you're after, you'll find it here, too -- politically and economically, the country is solid.
Another cost-of-living advantage in Denmark is that it has an abundance of public transportation it has available, which means you might not have to invest in buying and maintaining a vehicle.
2022 average monthly cost of living: $1,467
Besides having an average monthly cost of living falling below $1,500 a month, Austria is a country steeped in rich historical culture. Not only is its architecture varied and complex, but its capital, Vienna, was home to great classical composers like Beethoven and Mozart.
Austria is also home to the Alps, which can make for some spectacular sightseeing.
2022 average monthly cost of living: $1,171
Japan has a solid economic standing and a better-than-average public health system. Plus, its average monthly cost of living is quite affordable.
To save even more money, you can forgo buying a car due to Japan's well-developed public transportation network, including ferries, buses and its famous bullet train.
2022 average monthly cost of living: $1,059
Slovenia is a small Central-European country with a population of just over 2.1 million. Tourism heavily supports the economy, and literature, art and music are its cultural mainstays.
Retirees might find it somewhat difficult to communicate with ease there, however, as Slovenian is the official language and English is considered a foreign language.
2022 average monthly cost of living: $1,007
Expat retirees should have no trouble communicating in the Czech Republic. Although Czech is the official language, English is widely spoken by the younger generations, especially in Prague.
The country, which is also known as Czechia, offers both free public healthcare and private healthcare. However, free public healthcare is only available once you are considered a permanent resident.
2022 average monthly cost of living: $977
The chance to retire abroad in Portugal for less than $1,000 per month is likely tempting for many. Not only is it affordable, which can make for a more comfortable retirement, it also boasts a temperate climate and a friendly culture.
Although Portugal does have a public healthcare system, retirees will have to have private health insurance for at least the first few years until they become a permanent resident and are eligible for it.
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Methodology: To find the safest places to retire abroad for $2,000 per month, GOBankingRates first used Institute for Economics and Peace data to find (1)the safest countries in the world. GOBankingRates then used LivingCost.org to find the (2) average monthly cost of living for each selected country. All data was collected on and up to date as of October 6, 2022.
This article originally appeared on GOBankingRates.com: 9 Safest Places To Retire Abroad for Less Than $2,000 a Month