salary:converter

It depends entirely on your chosen destination. In affordable countries like Thailand, Portugal, Colombia, or Vietnam, many retirees live comfortably on $1,500–$2,500 per month — well within what a modest pension or Social Security payment provides. In Western Europe, budgets of $3,500–$5,000+ are more realistic. Use the tool above to calculate your exact budget by country.

Consistently top-ranked affordable retirement destinations include Portugal (especially inland regions), Mexico (Oaxaca, Mérida, San Miguel de Allende), Thailand (Chiang Mai, Hua Hin), Colombia (Medellín), and Georgia (Tbilisi). These countries combine low costs with good healthcare, large expat communities, and straightforward retirement visa options.

In most cases, yes. US Social Security can be received in nearly all countries with a few exceptions (Cuba, North Korea, and a handful of others). Most private pensions can also be paid internationally. However, you will likely still owe US taxes on that income. Medicare does not cover healthcare outside the United States, so budgeting for private health insurance is essential.

The most commonly overlooked costs include: private health insurance (often $200–$600/month for retirees), flights home for family visits ($1,000–$3,000 annually), currency exchange fluctuation risk, visa renewal fees and legal assistance, and unexpected medical or dental expenses not covered by insurance. Budget a 15–20% contingency above your estimated monthly expenses.

The cost of living index (COLI) compares the overall price level of a city to a baseline. A country with a COLI of 45 means your money goes roughly twice as far there as in the baseline. Multiply your current monthly expenses by the COLI ratio to estimate what an equivalent lifestyle would cost in your target retirement destination.