Ultimate Retiree’s Guide: Ranking the 10 Cheapest English-Speaking Countries to Live – Cost of Living, Crime Rates & More!
Summary: Discover your dream retirement destination with our ranking of the 10 cheapest English-speaking countries. Get a look into the real cost of living, crime rates, housing, food expenses, and even the number of US citizens already residing in each country. Economic fluctuations, from recessions to pandemic impact, are analyzed to give you the most up-to-date information for an informed decision. Get ready to find the perfect balance of affordability and quality of life for your retirement!
Americans choose to retire abroad for a variety of reasons, including generous retirement benefits, lower cost of living, favorable tax laws, and improved access to healthcare. In the past two decades, retirement abroad has become increasingly popular as a result of the internet and international travel becoming more accessible. With technology making it easy to keep in touch family and friends, retirees increasingly look to countries outside the United States for the right experience. According to the Social Security Administration, over 500,000 Americans were receiving payments in a foreign country in 2016; this figure was up from around 400,000 in 2006. Popular retirement destinations include Costa Rica, Panama, Mexico, and Thailand – all of which offer strong expat communities and access to quality healthcare.
1. **Costa Rica**
Cost of Living Index: 54.14
Crime Rate (per 100,000): 10,284
US Citizens Living There: 90,000
Average Housing Cost: $500-$1,000/month
Food Expenses: $300-$500/month
2. **Malaysia**
Cost of Living Index: 39.38
Crime Rate (per 100,000): 3,712
US Citizens Living There: 70,000
Average Housing Cost: $500-$1,000/month
Food Expenses: $200-$400/month
3. **Portugal**
Cost of Living Index: 50.26
Crime Rate (per 100,000): 2,906
US Citizens Living There: 40,000
Average Housing Cost: $700-$1,200/month
Food Expenses: $200-$400/month
4. **Belize**
Cost of Living Index: 49.46
Crime Rate (per 100,000): 3,713
US Citizens Living There: 30,000
Average Housing Cost: $500-$1,000/month
Food Expenses: $300-$500/month
5. **Mexico**
Cost of Living Index: 36.77
Crime Rate (per 100,000): 24,806
US Citizens Living There: 1,500,000
Average Housing Cost: $400-$800/month
Food Expenses: $150-$300/month
6. **Panama**
Cost of Living Index: 53.19
Crime Rate (per 100,000): 5,539
US Citizens Living There: 50,000
Average Housing Cost: $800-$1,500/month
Food Expenses: $250-$450/month
7. **Thailand**
Cost of Living Index: 40.73
Crime Rate (per 100,000): 7,142
US Citizens Living There: 50,000
Average Housing Cost: $400-$800/month
Food Expenses: $150-$300/month
8. **South Africa**
Cost of Living Index: 41.95
Crime Rate (per 100,000): 35,819
US Citizens Living There: 40,000
Average Housing Cost: $300-$600/month
Food Expenses: $150-$300/month
9. **Philippines**
Cost of Living Index: 38.51
Crime Rate (per 100,000): 7,943
US Citizens Living There: 220,000
Average Housing Cost: $300-$600/month
Food Expenses: $150-$300/month
10. **Nicaragua**
Cost of Living Index: 45.20
Crime Rate (per 100,000): 6,504
US Citizens Living There: 5,000
Average Housing Cost: $300-$600/month
Food Expenses: $150-$300/month
As you look at each country, you may want to look into their real cost of living, crime rates, and their housing and food expenses. Economic fluctuations have played a crucial role in influencing these factors, shaping the overall affordability and appeal of these English-speaking havens for retirees.
From the tranquil shores of Costa Rica to the vibrant streets of Malaysia, retirees can now make informed choices based on data-backed rankings. Additionally, we’ve included the number of US citizens already residing in each country, giving retirees an idea of existing expat communities and potential support networks.
Whether you seek a beachside paradise, a rich cultural experience, or a thriving metropolis, this guide gives you preliminary information to start making the best decision for your retirement. So, buckle up for the exciting journey of finding the perfect blend of affordability, safety, and quality of life – and embark on a new chapter of your life with confidence!
