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17 Safest Places to Retire Abroad for Less Than $3,000 a Month

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This article takes a look at the 17 safest places to retire abroad for less than $3,000 a month. If you wish to skip our detailed analysis on establishing a retirement living overseas, you may go to 5 Safest Places to Retire Abroad for Less Than $3,000 a Month.

The Demands and Requirements of a Retirement Abroad

Upwards of $10,000. That’s not the cost of a year at college or a year’s worth of rent. According to BuzzFeed Inc. (NASDAQ:BZFD) owned Huffpost, it’s the estimated cost of moving abroad. The BuzzFeed Inc. (NASDAQ:BZFD) backed publication details this figure to include the cost of overseas shipping, securing visas, setting up your documents and finances - such as your driver’s license and money wires from the US - housing, insurance, air travel, and a whole host of other things. 

With a $10,000 - or larger - investment on the line, you might think that the number of Americans moving abroad is in the smaller pools. However, these one-time costs don’t seem to have deterred US citizens, presumably as they pale in contrast to the benefits of some of the best countries to relocate to. The Association of American Residents Overseas estimates that a minimum of 5.4 million Americans live beyond the States as of 2023. A good portion of them are retirees. 

While a vacation abroad may seem magical, permanently moving to another country can certainly be daunting. So then why do so many American citizens - the Wall Street Journal, a division of News Corp (NASDAQ:NWS), reported that as many as 450,000 retirees received their social security benefits in foreign countries - retire abroad? With this News Corp (NASDAQ:NWS) number already presumed to have grown, the reasons are multi fold. 

Generally speaking, retirees are keen on peaceful, safe living. In many cases, they’re also one for living life on a budget, often finding cheap things to do in retirement. While patriots may point out the many wonderful things that the US has to offer, making an argument over how safe it is easily falls short. In a safe countries survey conducted by U.S. News and World Report, the US missed the top 10 - and 20 and 30 - mark, coming in at number 46 out of a total of 87 countries. Instead, it was mainly the European continent that triumphed. Similarly, the US received a disappointing 131st position on the recent Global Peace Index, reported the Miami Herald

Things are not much better on the financial side either. For retirees spending their days living on Social Security check to Social Security check, their monthly budget comes out to a mere $1,909 based on the Social Security Administration’s Social Security payout for 2024. With average rental numbers at $1,568 for one-bedroom apartments in the US according to Zillow Inc (NASDAQ:Z), this doesn’t leave much behind for utilities, groceries, healthcare, travel, and the like. Of course, Zillow Inc. (NASDAQ:Z) also lists cheaper rental options - such as average one-bedroom rent being $850 for Iowa City and $725 for West Virginia - these cheaper options often come with problems of their own and are not accessible to everyone.