In the best-value countries outside the United States, American retirees are finding that they can live better than they could at home — for less. In fact, many report, they can enjoy a genuinely comfortable, low-stress retirement on their Social Security alone.
That's relatively hard to do in the United States, where the average Social Security benefit is $1,374 for a retired worker — or $2,090 for a couple.
"If you're looking at retiring on your Social Security check alone in the United States or have just a modest amount to supplement it, you're likely to find yourself living frugally," says Jennifer Stevens, Executive Editor of International Living.
"But take that modest budget overseas to a place where your dollars stretch, and you'll find you can be free from money woes.
"Boomers living on modest budgets overseas may not be living like royalty, but they're dining out when they feel like it, they're benefitting from good-quality healthcare they can afford, they're no longer living hand-to-mouth. And with less stress and better weather, they report a much higher quality of life than they'd have in the United States on the same budget."
Five low-cost countries International Living's editors have pinpointed as good-value escapes for retirees include Ecuador, Mexico, Nicaragua, Colombia, and Cambodia.