Places You Can Live Comfortably For Under $1,500 Per Month
When retiring on limited capital, you have two options: increase your investment returns (or at least your cash flow) or move to a cheaper locale. There are probably no places in the United States where you can live comfortably for less than $1,500 per month (without farming your own food, at least…let me know if I’m wrong), but there are a few such places abroad. While the typical American vision of living like a king for pennies on the dollar in an exotic third world location is a gross exaggeration, once can certainly build a satisfying life abroad in some locations for a relatively small amount of money.
Places To Retire For Under $1,500 Per Month
It’s true some of the larger cities can be quite expensive, especially if you insist on having all the luxuries you took for granted back in the states, but there are a number of places in Thailand where $1,500 still goes a long way. It won’t get you a beachfront condo, of course, but I’ve been told it’s possible to get a decent (if small) apartment in the $100-150 per month range, especially in the northern part of the country. A beer at a bar will cost you less than $1 and a decent meal might only run you a few dollars more. Great food, sun, the beach, a friendly people on an affordable budget. Doesn’t get much better than that.
Costa Rica is one of the safest and most prosperous nations in Central America. Over half the surface area of the country is protected as a natural sanctuary, and tourism is Costa Rica’s most important industry. As such, there are plenty of English-speaking ex-pats in the area, and many people in the more tourist-oriented areas will speak decent English. Costa Rica is known for its lush rain forests, diverse wildlife, and beautiful beaches. Not the cheapest country on the list, but it’s quite possible to live a decent lifestyle on $1,500 per month outside of the major cities.
Belize is home of the 2nd-largest coral reef in the world behind Australia’s Great Barrier Reef. As such, it’s a mecca for scuba divers, snorklers, and a popular cruise ship destination. Even better, English is the official language of Belize (most everybody speaks Spanish as well), making it an easy transition for ex-pats who don’t speak another language. The cost of living here is similar to Costa Rica (for similar reasons). It will probably cost you around $300 per month for a decent-sized apartment outside of Belize City.