5. Spain

Many think that retiring to Spain costs way more than $200,000 in savings, but that’s simply not true! Spain is a popular tourist vacation not just for Europeans, but for people across the globe too. So why not spend your retirement there too?

Like in the case of Slovenia, you can easily visit other European hot spots in addition to stunning destinations all over the country, and that’s a plus a lot of adventurous retirees are always looking for.

Careful when it comes to costs, though. The cost of living in certain cities such as Barcelona, Bilbao, and Madrid is pretty high whereas Valencia is a little more affordable. You can also find a lot of culture here, especially in the form of ancient Roman ruins. Córdoba and Granada, are two nearby famous historical sites.

You can rent a one-bedroom apartment in Valencia for $800. Málaga, a famous coastal city known for its beaches boasts similar price ranges.

In terms of health care, you can find high-quality care within the public health system, but you can also opt for affordable private care if you prefer.

How to retire in Spain

You’ll begin your application process by gathering all the required paperwork and going to the nearest Spanish consulate with them. You will need proof of a minimum income of $30,000 per year or $2,500 per month and secure housing. Health care insurance that will cover you in Spain is also a must.

Experts say you must make extra copies of all your documents and carry a few more passport-sized photos. Once you arrive in Spain you will work on obtaining a foreign visitor number also known as NIE. With it you can begin the process of creating a bank account, getting connected to the internet, health care, and a trove of other services.