This article takes a look at 10 countries where you can retire on just social security in 2024. If you wish to check out our detailed analysis, you may go to 24 Countries Where You Can Retire on Just Social Security in 2024.
10. Moldova
Monthly Cost of Living (Single Person): $1,490
Another country to retire on a budget is Moldova. From its vibrant culture and beautiful scenery to its affordable cost of living, this country can be an ideal choice for those who wish to stretch their retirement incomes. Retirees can even save some dollars in the process.
9. Botswana
Monthly Cost of Living (Single Person): $1,410
Nestled in the laid-back charm of Botswana, this country appeals to retirees who cherish a leisurely pace of life. Amidst its warm climate, the opportunity to explore diverse wildlife adds a unique dimension to a retirement that’s both fulfilling and serene.
8. Romania
Monthly Cost of Living (Single Person): $1,409
Romania is a country that offers a much more affordable lifestyle to retirees than many of its European counterparts. Its friendly residents and stunning scenery are a plus when retiring here, and so is its affordable cost of living.
7. Hungary
Monthly Cost of Living (Single Person): $1,368
From inexpensive public healthcare to affordable living costs and beautiful cities, Hungary is also an ideal place for retirees to live. The cost of living in the country is 41.8% lower than the United States.
6. Vietnam
Monthly Cost of Living (Single Person): $1,350
Living in Vietnam is possible through “visa runs” or visa extensions. In another case, one can apply for a business or investor visa as well. Some top choices for retirees to live in the country include Da Nang and Nha Trang. Retiring to the country offers a compelling blend of affordability, vibrant culture, and picturesque landscapes.
5. Colombia
Monthly Cost of Living (Single Person): $1,320
Boasting a monthly cost of living under $1,500, Colombia is another country where you can retire on just social security. Stunning natural beauty, delicious cuisine, and affordable healthcare draws many retirees to the country.
4. Bulgaria
Monthly Cost of Living (Single Person): $1,320
Rich history and culture, great climate, and friendly locals make Bulgaria another ideal place to retire to on social security. The country boasts a cost of living that is 48% cheaper than the US.
3. Greece
Monthly Cost of Living (Single Person): $1,300
Retiring to Greece presents retirees with a captivating blend of history, culture, and natural beauty. EU citizens can retire to the country without a visa, while US citizens can apply for a residence permit during their stay in the country. A plan on staying longer than 90 days will require a Greece visa. Individuals can also relocate here through the Greece Golden Visa Program, an affordable residence-by-investment program.
2. Bosnia
Monthly Cost of Living (Single Person): $1,100
One of the most affordable and beautiful destinations to retire to in the world is Bosnia. A retiree can get by on less than $1,000 a month, saving a significant chunk of their social security income.
1. Ecuador
Monthly Cost of Living (Single Person): $1,000
Ecuador tops our list of countries where you can retire on just social security in 2024. Home to over 10,000 Americans, the country offers a competitive retirement landscape for potential retirees. It is renowned for its welcoming culture, affordable healthcare, and vibrant expat communities.
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