In this article, we will take a look at 5 best places to retire in the world on social security. If you want to look at more places and check out our detailed analysis of exhausting social security funds, go to 15 Best Places to Retire in the World on Social Security.
5. Miraflores, Peru
Insider Monkey Score: 31
The upscale district of Lima province in Peru is one of the safest and most affordable places for retirees. Residents can expect to live comfortably at $1,500 a month and enjoy all the big-city amenities. Stunning landscapes, lush parks, and amazing restaurants are spread throughout the district and offer spectacular views. Residents can stroll down the Miraflores boardwalk, an elevated walkway on the cliffs overlooking the Pacific. Moreover, they can go swimming with the sea lions, enjoy shopping, or eat at the many fine dining restaurants. A number of international and local hospitals are also present.
4. Koh Samui, Thailand
Insider Monkey Score: 34
Koh Samui in Thailand is the perfect choice for retirees who wish for affordable yet luxurious living. The place is increasingly housing a fast-growing expat community. Apart from the white sandy beaches and clear blue water that the town offers, the island provides a slow and laid-back lifestyle for residents to enjoy. There are four private hospitals with Western-style facilities, and overall the healthcare is affordable and high-quality.
3. Georgetown, Malaysia
Insider Monkey Score: 35
Georgetown, the capital city of Penang Island, is also an excellent choice for those looking to live on their social security. The city offers a mix of Chinese houses and skyscrapers, giving the city a unique aura. There are white sandy beaches, historical temples, and lush jungles filled with monkeys to explore. $1,455 is ample enough to live here, leaving a decent amount behind to save or splurge. There is plenty more to do at Penang National Park, Kek Lok Si Temple, and Penang Hill. Residents can also expect affordable and high-quality treatment thanks to Malaysia’s health tourism designation.
2. Madrid, Spain
Insider Monkey Score: 36
Incredible food, vibrant art culture, and a high quality of life make Madrid, Spain, a top choice to consider for retirees. While the city may be more expensive than others in Spain, retirees can still afford to live here on their social security paychecks. The average cost of living varies between $1200-$3200, and retirees get to enjoy the excellent climate and affordable housing. Healthcare is publicly funded and available to all.
1. Abruzzo, Italy
Insider Monkey Score: 36
Internationally recognized as one of the best places to retire in the world, Abruzzo, Italy is a retirement haven. The landscape is beautiful and diverse, the cost of living is affordable, and the city is historically art-adorned. There are three national parks with abundant sports and outdoor activities too. The cost of living in the city is as low as $1,200, and residents also have access to quality healthcare. Private medical facilities are better than public ones and cost a fraction of what it costs in the US, making Abruzzo one of the best places to retire in the world on social security.
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