3. Uruguay

Living on $2,000 per month should suffice if you decide to move to Uruguay but in some cases, you might need even less. For example, an American couple could spend as little as $800 a month in the city of Salto.

Why should you pick Uruguay? Many tourists and retirees alike have been charmed by the country’s temperate climate which makes visiting mountains and beaches easy across all seasons. Furthermore, Uruguay’s modern infrastructure makes it easy to travel from one tourist trap to another!

Many people, us included, can’t get enough of Uruguay’s stunning beaches. La Barra, Piriapolis, and Atlantida are common, affordable destinations. You could rent for $500 to $700 or take the leap and buy a home for $50,000.

In terms of health care, you have three options in Uruguay. You may sign up for private health insurance, benefit from public health insurance or sign up for mutualistas, private hospital membership plans. Mutualistas cost, on average, $100 a month.

How to retire in Uruguay

Before taking these steps make sure to contact an Uruguayan lawyer to help you navigate the application process, as you may bump into some restrictions.

In order to retire to Uruguay, you need to apply for a rentista visa. Your income should be about $1,500 per month in addition to enough money to cover dependents.

By applying for a retirement visa you may import your household items and your car duty-free. By going this route you can also further apply for a Uruguayan passport.