Planning for retirement

More and more future retirees are considering retirement to a place with cheaper costs, as the pandemic has affected their savings and has even forced them to remain in the workforce longer than planned.

If you are also nearing retirement and looking for affordable retirement places, you don’t have to limit your options to the territory of the United States. You can also retire abroad, to a budget-friendly country and stretch your Social Security money far longer than in your current city.

“All over the world, safe, welcoming, warm-weather, good-value communities exist where retirees can watch their lifestyles expand while they spend less than it would likely cost to stay home,” says Jennifer Stevens, executive editor at the magazine International Living. “From Portugal to Panama — all sorts of choices present themselves. And these are spots where a retiree could live a genuinely comfortable life, even on a Social Security check alone.”

To help you out with that, we’ve compiled a list of the best countries, as per International Living’s Annual Global Retirement Index for 2020, where you can leave all your worries and enjoy a truly comfortable lifestyle in retirement.