5 Best Places to Retire If You Have No Savings

1. Merida, Mexico

Insider Monkey Score: 23

Merida, Mexico, proudly holds the top spot as the best place to retire if you have no savings, offering an unbeatable combination of low living costs, rich cultural heritage, and a warm, welcoming atmosphere. With its living expenses ranging from $1,000 to $1,500 monthly, Merida stands out not just for affordability but also for the quality of life it offers. This colorful city is steeped in Mayan and colonial history, evident in its magnificent architecture and vibrant festivals. Healthcare in Merida is top-notch and reasonably priced, with numerous English-speaking professionals. Mexico’s straightforward residency process for retirees, along with favorable tax considerations for foreign income, makes Merida an even more appealing choice. As the best on our list, the city encapsulates the allure of relaxed, culturally immersive living, underpinned by a supportive expatriate community and the serene beauty of the Yucatan Peninsula, making it a paradise for retirees worldwide.

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