This article looks at the 15 best places to retire in Uruguay. If you wish to skip our detailed analysis, you may go to the 5 Best Places to Retire in Uruguay.
Uruguay: Affordable Retirement with Beachside Appeal
Uruguay, a country on the southeastern coast of South America, is increasingly becoming a top choice for retirees worldwide. The South American gem is revered for its beach-lined coast, tranquil landscapes, robust social services, and favorable climate.
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While retirees often choose countries like Uruguay for retirement due to their strong appeal, a major push factor is the high cost of living in their own home country. The decision to move is significantly influenced by the desire to manage expenses more effectively in a more affordable location, usually on a small fixed sum. The current retirement landscape in the US, for example, serves as an ideal breeding ground for prospective retirees to move to greener pastures. People are living longer, have smaller nest eggs, and are also fearful of the depleting Social Security funds. Consequently, more and more Americans plan on taking Social Security benefits well before their Full Retirement Age (FRA).
Schroders’ 2024 U.S. Retirement Survey sheds light on this concern, reporting how half of non-retired Americans are “concerned” or “very concerned” about outliving their assets in retirement. According to the survey, 43% of Americans plan on taking Social Security before the age of 67, the full retirement age for individuals born in 1960 or later. Only 1 in 10 plan to wait until the age of 70, the age at which an individual is eligible to receive their maximum monthly benefit. One major reason non-retirees are planning to take their benefits sooner than 70 is because at least 39% of them believe they will need the money. On the other hand, 38% are concerned that Social Security may run out soon or stop making payments altogether. When asked how much monthly income these retirees will need to live comfortably, they quoted a sum of $4,947. This is higher than the monthly income of $4,258 that today’s retirees report that they are generating.
“The transition from retirement savings accumulation to the decumulation phase is not an easy one to make. With working Americans increasingly looking to their employers for answers, plan sponsors and assets managers have an opportunity to work together to develop solutions that create a stronger bridge between the asset accumulation and decumulation phases to grow and preserve plan participant wealth while simultaneously providing an opportunity to optimize the timing of their Social Security benefits”.
-Deb Boyden, Head of U.S. Defined Contribution with Schroders
Consequently, for many of these retirees, moving to cheaper accommodation seems to be a wise choice. Uruguay, for instance, is an estimated 30% cheaper to live than the USA. An individual retiree can live more than comfortably in a sum between $2,000 to $3,000. For those pondering a retirement to the country, exploring the pros and cons of retiring to Uruguay can be a good first step. Besides the more affordable cost of living, the country is also known for its stable economy, mild climate, beautiful beaches, and affordable healthcare. The country offers a robust healthcare system, with a stand-out private membership plan called Mutualista. For a small monthly membership fee of around $100, it offers healthcare ranging from doctors’ visits to emergency room care. This makes Uruguay an excellent country for expats. Some bad things about living in the country include limited public transportation and expensive imported goods.
Uruguay retirement visa requirements are also pretty straightforward. Some basic requirements for its Pensionado Visa include proof of retirement, a monthly passive income, a purchase of real estate, public securities, or a combination of the two worth at least USD 100,000 which must be held for at least ten years before selling, and a clean background check.
As retirees seek more affordable living options outside the United States, the availability of reliable temporary housing becomes crucial. Marriott International, Inc. (NASDAQ:MAR), with its extensive global presence, offers retirees comfortable and familiar accommodations as they explore potential retirement destinations like Uruguay. The company offers several long-term stay properties that can be used by retirees as they finalize their accommodation in the new country.
In Q2 2024, Marriott International, Inc. (NASDAQ:MAR) reported a 6.3% increase in net income to $772 million, with basic EPS rising to $2.70 and diluted EPS to $2.69. Total revenues grew to $6.43 billion, up from $6.07 billion last year. The company’s adjusted EBITDA reached $1.32 billion, driven by a 4.9% global increase in RevPAR and a significant 7.4% rise in international markets.
“Marriott reported strong second quarter results, with net rooms up 6 percent year over year and worldwide RevPAR1 growth of nearly 5 percent, as consumers continued to prioritize travel. International RevPAR increased more than 7 percent, with Asia Pacific excluding China leading the way, posting an impressive 13 percent RevPAR increase from the year-ago quarter”.
-Anthony Capuano, President and Chief Executive Officer, Marriott International, Inc. (NASDAQ:MAR)
While we acknowledge the potential of MAR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MAR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
![15 Best Places to Retire in Uruguay](https://imonkey-blog.imgix.net/blog/wp-content/uploads/2020/07/28165657/Montevideo-Uruguay-guilherme-roveda-hellwinkel-B9YoUi7RYiE-unsplash.jpg?auto=fortmat&fit=clip&expires=1756252800&width=480&height=639)
Montevideo, Uruguay
Methodology
To compile the list of best places to retire in Uruguay, we have utilized a consensus-based approach, drawing on a variety of authoritative sources, such as demographic studies, expert opinions, and first-hand expat opinions. We aggregated recommendations from these sources to calculate an Insider Monkey Score for each location, reflecting the frequency and consistency of endorsements. Locations were then ranked in ascending order based on their Insider Monkey Score, ensuring that those most frequently recommended were placed highest. Cost of living estimates are based on data from sources such as Nomad List, with Montevideo and Punta del Este serving as reference points for the calculations. Actual expenses may differ due to differences in lifestyle choices and other dynamic factors.
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Here are the 15 best places to retire in Uruguay:
15. Tacuarembó
Insider Monkey Score: 3
Average Monthly Cost of Living (Per Individual): $1,200
Average Monthly Rent (1-bedroom): $350
The capital city of the Tacuarembó Department in north-central Uruguay, Tacuarembó is an ideal choice for retirees who primarily wish to stretch their retirement incomes. Besides affordability, residents also appreciate the city for its rural charm and tranquil atmosphere. The proximity to the Río Negro adds to the natural beauty of the area, making it an appealing, off-the-radar choice for seniors.
14. The Littoral
Insider Monkey Score: 5
Average Monthly Cost of Living (Per Individual): $1,100
Average Monthly Rent (1-bedroom): $345
One of the cheapest places to live in Uruguay is The Littoral. A narrow strip of land stretching west from Montevideo along the Rio de la Plata and the Uruguay River to the Argentinian border, The Littoral is an epitome of stunning riverside views and rich, fertile agricultural soils. Those who choose to live here will have the chance to enjoy leisurely walks along the river, explore charming towns beaming with colonial architecture, and experience numerous cultural festivals along the way. The region is known for its well-developed infrastructure, including healthcare services and other essential amenities.
13. Mercedes
Insider Monkey Score: 6
Average Monthly Cost of Living (Per Individual): $1,250
Average Monthly Rent (1-bedroom): $360
Mercedes, a city along the Rio Negro in western Uruguay, makes it to the 13th place on our list of best places to retire in Uruguay. The city’s standout features include its river promenade, beaches, colonial architecture, and vibrant community. From visiting the former building of the Italian Society to enjoying the natural scenery blessed by the river, there is much to see and do here in Mercedes.
12. Paysandú
Insider Monkey Score: 7
Average Monthly Cost of Living (Per Individual): $1,200
Average Monthly Rent (1-bedroom): $350
Blessed with orange sunsets and the Río Uruguay (Uruguay River), Paysandú is one of the best places to retire in Uruguay. Even though it is a large city, Paysandú retains a laid-back and friendly atmosphere suitable for retirees. Residents love to gather by the city shores and enjoy its sandy beaches, explore the Guaviyú and Almirón hot spring resort in proximity, and even spend time surveying historical attractions such as the Historical Museum or the Perpetuity Monument.
11. Carmelo
Insider Monkey Score: 9
Average Monthly Cost of Living (Per Individual): $1,300
Average Monthly Rent (1-bedroom): $375
A town on the Río de la Plata in western Uruguay, Carmelo offers the perfect escape from big cities and the hustle and bustle they bring. Instead, the town allows retirees to enjoy the unspoiled beauty of the countryside, as well as historical sites, sandy beaches, vineyards, artisanal markets, and much more. The town is also known to be an up-and-coming wine region. A friendly community, tranquil environment, and affordable cost of living make Carmelo a well-rounded retirement destination.
10. Salto
Insider Monkey Score: 11
Average Monthly Cost of Living (Per Individual): $1,250
Average Monthly Rent (1-bedroom): $360
A picturesque city in northwestern Uruguay, Salto borders Argentina on the Uruguay River. The city is a unique blend of affordability, cultural richness, and natural splendor. Salto has a rich history as a prominent wine region and is renowned for its hot-spring resorts, which attract visitors seeking relaxation and wellness. The city also offers abundant parks and green spaces, providing ample opportunities for outdoor recreation. Salto’s well-developed infrastructure includes both public and private hospitals, ensuring residents have access to comprehensive healthcare services throughout the city. Embraced by natural beauty, including the picturesque riverside and lush countryside, retirees have abundant opportunities to enjoy the outdoors.
9. Punta del Diablo
Insider Monkey Score: 12
Average Monthly Cost of Living (Per Individual): $1,150
Average Monthly Rent (1-bedroom): $340
Next on our list of best places to retire in Uruguay is Punta del Diablo, a small fishing town and seaside resort on Uruguay’s eastern coast. Punta del Diablo is the perfect place to relish a laid-back, beach-oriented lifestyle. The pristine beaches of the village, together with a tight-knit yet welcoming community, make the town a wise choice for those who wish to enjoy a coastal lifestyle without the hefty price tag.
8. Rocha
Insider Monkey Score: 13
Average Monthly Cost of Living (Per Individual): $1,200
Average Monthly Rent (1-bedroom): $350
Rocha, the capital city of Rocha Department, lies in palm-dotted coastal lowlands. The city is truly a hidden gem for retirees characterized by its stunning beaches, unique landscapes, and charming coastal towns. Retirees get to explore historic towns, visit craft markets and art galleries, and relish traditional Uruguayan cuisine along the way.
7. Atlántida
Insider Monkey Score: 14
Average Monthly Cost of Living (Per Individual): $1,400
Average Monthly Rent (1-bedroom): $400
Atlántida is a resort town of the Costa de Oro in the Canelones Department of Uruguay. This seaside town is a personal favorite for many retirees and expats owing to its coastal living lifestyle and community charm. Known as the capital of the Golden Coast, its squares, roads, and streets are embellished with pine trees and eucalyptus, and the town itself beams with natural splendor. It also offers a well-rounded lifestyle with good infrastructure, including healthcare facilities, supermarkets, restaurants, and other essential services.
6. La Paloma
Insider Monkey Score: 14
Average Monthly Cost of Living (Per Individual): $1,300
Average Monthly Rent (1-bedroom): $375
Another seaside town located on Uruguay’s southeast coast, La Paloma appeals to retirees with its stunning beaches, laid-back atmosphere, and close connection to nature. Its small-town vibe makes it a peaceful place to retire to, while the surrounding sandy shores, rugged cliffs, and lush greenery make it a perfect spot for retirees who appreciate the outdoors.
5. Piriápolis
Insider Monkey Score: 15
Average Monthly Cost of Living (Per Individual): $1,450
Average Monthly Rent (1-bedroom): $425
Situated on southern Uruguay’s Atlantic coast, Piriápolis is a favorite amongst retirees with its Mediterranean-style charm, relaxed lifestyle, and stunning natural beauty. The town is also appreciated for its picturesque beaches, rolling hills, and elegant early 20th-century architecture. Retirees will love to explore the beauty of The Argentino Hotel, enjoy lunches at Port Piriápolis, or visit the zoo at the foot of the Sugar Loaf, amongst other things.
4. Maldonado
Insider Monkey Score: 16
Average Monthly Cost of Living (Per Individual): $1,600
Average Monthly Rent (1-bedroom): $450
Maldonado, the capital city of the Maldonado Department, is a top retirement destination for expats. Beautiful beaches, affordable cost of living, and welcoming community describe this city best. The city boasts a charming city center, well-developed infrastructure, and a friendly community as well.
3. Colonia del Sacramento
Insider Monkey Score: 17
Average Monthly Cost of Living (Per Individual): $1,500
Average Monthly Rent (1-bedroom): $425
One of the oldest towns in the country, Colonia del Sacramento is revered for its picturesque colonial architecture and cobblestone streets. Retirees will love exploring its UNESCO-listed historic quarter, where cobblestone streets and colonial architecture blend Spanish and Portuguese influences. The riverfront promenade is a popular spot for picturesque sunsets and strolls, while essential healthcare facilities and a growing expat community further add to the allure of retiring here.
2. Punta del Este
Insider Monkey Score: 18
Average Monthly Cost of Living (Per Individual): $2,460
Average Monthly Rent (1-bedroom): $768
A seaside city and peninsula on the Atlantic Coast, Punta del Este makes it to the second spot on our list of best places to retire in Uruguay. Fine dining, fantastic beaches, and amazing nightlife make it a prime spot for active retirees. As it boasts beautiful beaches, luxury resorts, and world-class dining, the cosmopolitan lifestyle comes at a higher price than many other cities and towns on our list.
1. Montevideo
Insider Monkey Score: 20
Average Monthly Cost of Living (Per Individual): $1,630
Average Monthly Rent (1-bedroom): $445
Based on our methodology, the best place to retire in Uruguay is Montevideo. Being the country’s capital and a major city along Montevideo Bay, Montevideo features modern amenities, high-quality healthcare, and a variety of housing options. It has a wonderful culture and beautiful beaches, mesmerizing waterfront promenades, and many parks to boast. From strolling along the picturesque Rambla to relishing river views, exploring the historic Ciudad Vieja to relaxing at Parque Rodó, there is much to see and do in the city.
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Disclosure: None. This article was originally published on Insider Monkey.