This article looks at the 5 cheapest places to retire abroad if you speak English. You may want to check out our detailed analysis on leaving the US and jump to 20 Cheapest Places to Retire Abroad if you Speak English.
On Leaving the United States
Many Americans don’t think they can comfortably retire here in the US, so they choose to retire overseas. Some popular destinations for retirees include the nearby countries of Canada and Mexico, Caribbean countries such as Dominica, and even Asian countries such as Malaysia and Thailand.
Spending one’s golden years in such expat communities abroad can be a wonderful way to spend retirement years. However, language can be a major barrier for seniors who choose to move to other countries. Join us as we explore some of the cheapest places to retire overseas where people widely speak English.
5. Cebu City, Philippines
Insider Monkey Score: 31
Monthly Cost of Living: $850
Average Monthly Rent (1-bedroom): $360
Since English is one of the official languages in the Philippines, retiring to the country is easy for those who know English. Home to a vibrant expat community, Cebu City, in particular, can be a vibrant choice for aspiring retirees. The cost of living for a single expat retiree in Cebu City is around $1,200, making it one of the cheapest places to retire abroad if you speak only English.
4. Johannesburg, South Africa
Insider Monkey Score: 34
Monthly Cost of Living: $1,082
Average Monthly Rent (1-bedroom): $337
Sporting a sizable expat community, Johannesburg is another smart choice for retirees who wish to get by speaking English only.
3. Davao City, Philippines
Insider Monkey Score: 36
Monthly Cost of Living: $805
Average Monthly Rent (1-bedroom): $265
Resting on the southern Philippine island of Mindanao, Davao City is an affordable retirement destination where retirees can move without learning a new language. Its well-developed infrastructure, high-quality healthcare, and affordable cost of living make it a well-rounded retirement destination.
2. Goa, India
Insider Monkey Score: 39
Monthly Cost of Living: $784
Average Monthly Rent (1-bedroom): $200
A popular retiremnet destination in India, Goa is home to scenic beaches, warm climates, and lush landscapes. Retirees especially love it for its vibrant culture, friendly locals, and welcoming environment. The expat community here has been growing over the years, making retirees feel right at home. Residents also speak and understand English, but knowing a few Konkani phrases will help.
1. Penang, Malaysia
Insider Monkey Score: 40
Monthly Cost of Living: $752
Average Monthly Rent (1-bedroom): $253
The small tropical island of Penang is one of the cheapest places to retire abroad if you speak only English. From the best street food at roadside vendors to modern healthcare facilities and national parks and beaches, retirees can live their lives to the fullest here in Penang. English is spoken widely here. There is a strong expat community, so newcomers will find it easier to adjust to life on the island.
You may want to check out our detailed analysis on leaving the US and jump to 20 Cheapest Places to Retire Abroad if you Speak English.
At Insider Monkey, we delve into a variety of topics, ranging from the best online ESL courses to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
