I found this article written by Michael Foster and wanted to share. You can find the original article here. In it he talks about some awesome alternatives to retirement, where you're biggest expense is probably getting there.
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1. Chiang Mai, Thailand
Thanks to its weather and
low cost of living, Thailand has been on retirees' radars for years, and Chiang
Mai is cheap, even by Thai standards.
"For under $2,000, I live like a king,"
says Barry, a Canadian who relocated to Chiang Mai in early 2009. Since then,
he has rented a 1,200-square-foot condo for a little more than $400 per month.
Groceries are no big concern, usually running him about $50 per month.
Restaurants cost about twice that at $100 per month -- and he goes out to eat
almost every day.
Barry says that Chiang Mai has just about
everything he needs. "There are Western-style restaurants, entertainment
venues and social events," he says. The city has several modern hospitals.
"I had an emergency spinal fusion two years ago at a cost of 280,000 baht
(about $9,300 at the time). In Canada, medical coverage is free, but the
waiting time is long. Here, the service is almost instantaneous and very
professional."
More routine medical issues are so inexpensive,
Barry says, that he doesn't need insurance to cover them. "Going to a
dentist for a checkup and cleaning is 500 baht," or about $17.
2.
Guam
Guam is an often-overlooked
alternative for American retirees, despite its many benefits. Because it's a
U.S. territory, English is spoken everywhere on the island, and its currency is
the U.S. dollar. And, at least on the surface, much of the country's culture
and politics will seem familiar to many Americans.
Situated 3,700 miles southwest of Honolulu, Guam
is a lower-cost alternative to Hawaii while sharing the same climate.
One-bedroom apartments in Guam can rent for as low as $400 per month, with luxury
units facing the sea costing $1,000 per month. American citizens can buy
property on the island; three-bedroom houses often sell for less than $200,000.
Since the territory is a small, remote island,
most items have to be imported, which means groceries can be more expensive
than on the U.S. mainland. Meats, most vegetables and some dairy products can
cost twice as much. Restaurants, however, are usually comparable in cost to
their American counterparts.
Besides enjoying the weather, retirees in Guam can
use both American and Guam-based insurers -- including Medicare -- to cover
their health care costs. All major medical services are available at Guam
Memorial Hospital, which is certified and accredited by several federal
agencies in the U.S.
3. Valencia, Spain
The subprime mortgage
crisis caused property values to plummet everywhere, including Spain, making
the Mediterranean nation suddenly affordable for a number of retirees. The euro
crisis notwithstanding, the southeastern coastal city of Valencia offers
hundreds of villas, apartments and houses for less than $200,000. New
one-bedroom apartments in the city sell for less than 50,000 euros ($65,575).
For those who do not want to invest in real estate, rentals are cheap and
plentiful. A two-bedroom apartment in the center of Valencia rents for 600
euros per month ($780).
Groceries sold in traditional open-air markets
cost the same or less than supermarket prices back in the States, while low
property taxes keep the cost of living low for expats in Spain. The country
offers free public health coverage, and additional health insurance rarely
exceeds $300 per month. Prescription medicines are almost always a fraction of
what they would be in America.
Valencia is a great option for retirees who want
to spend their golden years traveling. Its airport offers direct flights to
France, Germany, the United Kingdom, Morocco and Norway. Round-trip flights to
the rest of Europe often cost less than 150 euros ($195).
4. Buenos Aires, Argentina
Although Buenos Aires is
pricier than most parts of South America, it is still a bargain compared to
most American cities. A one-bedroom apartment in a good neighborhood can be
rented for less than $400 per month or bought for less than $70,000. Internet,
cable and electricity combined rarely costs more than $100 per month. The
city's comprehensive subway system and buses make transportation cheap. One
ride on the subway costs 2.50 Argentine pesos (about 50 cents).
Health care in Argentina is a bargain, thanks to
the country's public health care system and surplus of doctors. The quality and
affordability of Argentina's medical services has led to a booming medical
tourism industry. In 2011, more than 100,000 visitors came to Argentina to
receive medical care, according to Argentina's National Institute of Tourism
Promotion.
For most expats, the costliest part of Buenos
Aires is dining in the city's European-style cafes, restaurants and night
spots. While movies are relatively cheap in Argentina (a ticket costs less than
$8 in most places), dinner out at a restaurant usually costs between $25 and
$45. An espresso will cost around $2.50 and can be found in any of the city's
thousands of small open-air cafes.
5.
Lake Atitlan, Guatemala
Lake Atitlan is about 75
miles away from Guatemala City and is surrounded by volcanoes and villages
where Mayan traditions still thrive. The area has perennial spring-like
temperatures ranging from the 60s to 80s Fahrenheit. Several waterfront houses
are available for rent on the lake; a three-bedroom house costs around $300 per
month to rent.
Other expenses remain extremely low in this
retiree-friendly part of Guatemala. "Restaurants cost about $10 per dinner
and $3 (to) $4 for breakfast," says Andy Lee Graham, founder of
HoboTraveler.com. The cheapest foods are also the healthiest; fresh fruits and
vegetables cost about a third less in local markets than they do in the U.S.
For those who require assisted living, a full-time
personal nurse can be hired for $15 to $20 per day, says Graham. "A maid
is about $4 (to) $10 per day."
Graham recommends using taxis or tuk-tuks in
Guatemala, which he notes are very cheap. Tuk-tuks are three-wheeled motorized
versions of rickshaws. "Tuk-tuks will go between cities for about $3 (to)
$5 per city. Inside metropolitan areas, they cost 75 cents for one trip."
He warns that, "Driving a car is dangerous, but taxis are safe."
Andy estimates that retirees need $1,000 per month
to live near Lake Atitlan.
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