6. Chile

Imagine spending your retirement by exploring Chile’s famed coastlines and mountains. The fact that the country experiences all four seasons will make visiting your favorite places several times a year a true delight!

Here you can live off $1,500 a month comfortably whether you wish to live in bustling Santiago or a remote town on the shores of La Serena. Your Social Security or pension should cover these costs comfortably.

You’ll find that renting here is especially cheap, with one-bedroom apartments going for $300-$400. In Santiago, however, you can expect slightly higher prices.

A three-course meal could cost you around $40 to $45, but purchasing fresh produce is a lot cheaper!

How to retire in Chile

Unlike other destinations on our list, you can begin moving to Chile by first entering the country with a regular tourist visa. The next step is to apply for a Rol Único Tributario (RUT) number, similar to our Social Security Number. You will need this to open a bank account, sign up for internet services, get a phone number, etc.

You don’t need to provide proof of income, but it’s a good idea to have at least $1,000 per person per month during your first couple of years, perhaps even a little bit more as you begin to settle down.

In order to apply for permanent residency, you need to live in the country for at least 180 days per year.