Retirement should be a time of relaxation, adventure, and luxury—but that doesn’t mean you have to break the bank. There are many beautiful and affordable places worldwide where you can stretch your retirement savings and live comfortably. From tropical beaches to historic cities, these destinations offer high-quality living at a fraction of the cost. Imagine sipping fine wine in a charming European town or enjoying fresh seafood on a sun-drenched beach. Here are 20 of the cheapest destinations where you can retire like royalty.
Chiang Mai, Thailand

Nestled in the mountains of northern Thailand, Chiang Mai is a retiree’s paradise. The cost of living is incredibly low, with modern apartments available for under $500 a month. Dining out is a treat, with delicious Thai meals costing as little as $2. The city boasts excellent healthcare facilities that are both affordable and high-quality. Chiang Mai’s vibrant culture, ancient temples, and bustling night markets ensure there’s always something to do. The warm weather and friendly locals make it a welcoming place to settle. Plus, Thailand offers a long-term retirement visa, making it easier for expats to stay.
Medellín, Colombia

Medellín, once known for its turbulent past, is now one of the most vibrant and affordable retirement destinations. The city enjoys a mild “eternal spring” climate, making it comfortable year-round. Public transportation is modern and inexpensive, allowing retirees to get around easily. The cost of living is low, with high-quality healthcare available for a fraction of U.S. prices. Expats rave about the friendly locals and the welcoming culture. The city’s rich arts scene, stunning mountain views, and lively nightlife ensure a fulfilling retirement. Renting a stylish apartment in a desirable neighborhood can cost as little as $600 per month.
George Town, Malaysia

George Town, the capital of Penang, is an excellent retirement spot with a mix of culture, history, and affordability. Malaysia offers a retiree-friendly visa program, making long-term stays easier. The cost of living is low, with affordable housing and delicious street food meals for just $3. The city is known for its charming colonial architecture, stunning coastline, and vibrant arts scene. English is widely spoken, making it easier for retirees to settle in. Healthcare in Malaysia is world-class and much cheaper than in Western countries. With warm weather year-round, it’s a perfect spot for retirees seeking sun and adventure.
Cuenca, Ecuador

Cuenca is a hidden gem in South America, offering retirees an affordable and high-quality lifestyle. The cost of living is incredibly low, with rent for a comfortable apartment starting at just $500 per month. The city’s historic charm, cobblestone streets, and colonial architecture make it a picturesque place to live. Cuenca’s expat community is thriving, providing plenty of social opportunities. Healthcare is top-notch and highly affordable, attracting many retirees. The surrounding mountains and temperate climate make outdoor activities a year-round possibility. Plus, Ecuador offers generous visa policies for retirees.
Da Nang, Vietnam

Da Nang is a coastal city with breathtaking beaches and a low cost of living. Retirees can enjoy modern apartments for under $600 per month. The city boasts an excellent food scene, with fresh seafood and Vietnamese delicacies at unbeatable prices. Healthcare is affordable and of high quality, with many English-speaking doctors available. Da Nang’s relaxed atmosphere, combined with its vibrant expat community, makes it a welcoming place. With nearby cultural attractions like Hoi An and the Marble Mountains, there’s always something to explore. Vietnam’s affordable lifestyle means retirees can enjoy a high standard of living without financial stress.
Porto, Portugal

Portugal has long been a favorite among retirees, and Porto offers an affordable yet luxurious lifestyle. The city is known for its stunning riverfront views, delicious wines, and rich history. The cost of living is relatively low compared to other European destinations, with rent starting at around $700 per month. Portugal’s healthcare system is excellent and accessible to expats. The country offers a retirement-friendly visa program, making long-term stays easy. Porto’s charming streets, lively markets, and mild climate make it a wonderful place to retire. Plus, the welcoming locals and strong expat community provide a supportive environment.
Granada, Nicaragua

Granada is one of the most affordable retirement destinations in Central America. A comfortable lifestyle is easily achievable on a modest budget, with rent for a charming home starting at just $400 per month. The city is rich in colonial history, with beautifully preserved architecture and a laid-back atmosphere. Dining out is incredibly cheap, with local meals costing as little as $2. The city’s proximity to Lake Nicaragua and nearby volcanoes provides plenty of outdoor activities. Healthcare is accessible and affordable, making it a stress-free place to live. The warm climate and friendly locals add to its appeal.
Budapest, Hungary

Budapest is one of Europe’s most affordable yet luxurious retirement destinations. The city offers stunning architecture, thermal baths, and a vibrant cultural scene. Rent is relatively cheap, with elegant apartments available for under $700 per month. Hungary’s healthcare system is high-quality and affordable for retirees. Public transportation is efficient and inexpensive, making it easy to get around. The city’s cost of living is much lower than in Western Europe, allowing retirees to enjoy fine dining and entertainment. Budapest’s rich history and lively expat scene make it an ideal retirement destination.
Santo Domingo, Dominican Republic

Santo Domingo is a Caribbean paradise where retirees can live comfortably on a modest budget. Housing is affordable, with beachfront apartments available for under $800 per month. The Dominican Republic’s residency options make it easy for retirees to settle in. Fresh tropical fruits, seafood, and local delicacies are incredibly cheap. The country boasts excellent healthcare facilities at reasonable prices. The year-round warm weather and stunning beaches offer endless relaxation opportunities. With a mix of modern conveniences and rich cultural heritage, Santo Domingo is a top choice for retirees.
Mérida, Mexico

Mérida is known for its rich Mayan heritage, colonial architecture, and warm hospitality. The cost of living is low, with rent for a comfortable home starting at $500 per month. The city is one of the safest in Mexico, making it ideal for retirees. Its thriving arts and cultural scene includes museums, theaters, and music festivals. Local markets offer fresh produce and delicious Yucatecan cuisine at bargain prices. Healthcare is high quality and significantly more affordable than in the U.S. With warm weather year-round, Mérida provides a laid-back yet vibrant lifestyle.
Bali, Indonesia

Bali is a dream retirement destination with its lush landscapes, beautiful beaches, and spiritual charm. The cost of living is incredibly affordable, with luxurious villas available for under $700 per month. Dining out is cheap, with delicious local meals costing as little as $2. The island offers an active and social expat community, making integration easy. Health and wellness options, including yoga and meditation retreats, are abundant. Despite its popularity, Bali maintains a relaxed and serene atmosphere. The island’s rich culture, from traditional Balinese dance to ancient temples, adds to its appeal.
Sofia, Bulgaria

Sofia is one of Europe’s most budget-friendly capital cities, offering a mix of history, culture, and affordability. Rent for a modern apartment starts at just $400 per month. The city’s efficient public transportation system makes getting around easy and inexpensive. Bulgaria’s healthcare system is accessible and of good quality for retirees. Sofia boasts stunning natural surroundings, including nearby ski resorts and hiking trails. Its vibrant arts and music scene ensures plenty of entertainment options. The cost of food and dining out is low, making it possible to enjoy European cuisine on a budget.
Phnom Penh, Cambodia

Phnom Penh offers an affordable and comfortable retirement lifestyle in the heart of Southeast Asia. Housing is cheap, with modern apartments available for around $500 per month. The city is known for its friendly locals and welcoming expat community. Dining out is incredibly affordable, with delicious Khmer meals costing just a few dollars. Cambodia offers a simple retirement visa, making it easy for foreigners to settle. The healthcare system has improved significantly, with international hospitals available. With a mix of historical sites, riverside relaxation, and bustling markets, Phnom Penh is both vibrant and laid-back.
Valencia, Spain

Valencia is a stunning Spanish coastal city offering a high-quality yet affordable lifestyle. Rent for a charming apartment near the beach starts at around $700 per month. The city’s Mediterranean climate means warm summers and mild winters. Spain’s healthcare system is top-notch and accessible to expats. Valencia is known for its vibrant arts scene, delicious paella, and lively festivals. The city’s efficient public transportation system makes it easy to explore. With a lower cost of living than Madrid or Barcelona, Valencia is a perfect retirement haven.
Belgrade, Serbia

Belgrade is an underrated European city that offers an excellent quality of life at a low cost. Rent for a modern apartment in the city center starts at just $500 per month. Serbia’s healthcare system is affordable and improving in quality. The city is known for its vibrant nightlife, rich history, and welcoming locals. Dining out is budget-friendly, with hearty Balkan meals costing just a few dollars. Public transportation is cheap and efficient, making it easy to explore the city. Belgrade’s riverside cafes, historic fortresses, and cultural events create a dynamic yet relaxed environment.
Tagaytay, Philippines

Tagaytay is a scenic mountain town offering a cool climate and breathtaking views. Housing is affordable, with apartments available for under $500 per month. The city is just a short drive from Manila, making it convenient for travel and healthcare. Local markets provide fresh produce at low prices, making home-cooked meals budget-friendly. The relaxed lifestyle, combined with stunning landscapes, makes it a peaceful retirement option. The Philippines offers a retirement visa with benefits like discounts on healthcare and travel. With friendly locals and a strong expat presence, Tagaytay is a welcoming place to retire.
Montevideo, Uruguay

Montevideo offers a relaxed, beachside lifestyle in one of South America’s most stable countries. Rent for a comfortable apartment near the coast starts at around $700 per month. The city boasts a high quality of life, with excellent healthcare and infrastructure. Uruguay’s political stability and safety make it an appealing choice for retirees. Fresh produce and locally produced wine are inexpensive, making dining affordable. The city’s cultural scene, including tango performances and art galleries, is vibrant and diverse. Montevideo’s scenic coastline and laid-back atmosphere make it a perfect retirement escape.
Brasov, Romania

Brasov is a charming medieval city in the heart of Transylvania, offering an affordable European lifestyle. Rent for a cozy apartment starts at just $400 per month. The city is surrounded by the Carpathian Mountains, providing breathtaking scenery and outdoor activities. Romania’s healthcare system is improving and remains budget-friendly. The cost of food and daily expenses is low, allowing for a comfortable lifestyle. Brasov’s picturesque old town, with its Gothic-style buildings and historic charm, is a joy to explore. The welcoming local community and growing expat presence make settling in easy.
Arequipa, Peru

Arequipa, known as the “White City,” is a stunning and affordable place to retire. Rent for a comfortable apartment starts at around $500 per month. The cost of dining out and fresh produce is extremely low, making daily expenses manageable. The city’s colonial architecture and scenic volcano views make it a picturesque retirement spot. Peru offers a relatively simple residency process for retirees. Healthcare is affordable and accessible, with good facilities in the city. With a pleasant climate and a relaxed pace of life, Arequipa is a perfect mix of culture and tranquility.
Antalya, Turkey

Antalya is a stunning Mediterranean city that offers retirees an affordable yet luxurious lifestyle. The cost of living is remarkably low, with modern apartments available for as little as $500 per month. The city boasts breathtaking beaches, a vibrant food scene, and a rich history dating back to ancient times. Healthcare in Turkey is high-quality and significantly cheaper than in Western countries. The warm climate and beautiful coastline make it a paradise for outdoor lovers. Antalya also has a thriving expat community, providing a welcoming environment for newcomers. With a mix of modern amenities and historical charm, Antalya is a fantastic place to retire on a budget.