Retiring in the U.S. is getting more expensive, and many Americans are looking for cheaper, high-quality alternatives abroad. Fortunately, there are beautiful, affordable countries where you can live comfortably on $2,000 per month—or even less!
Here are 10 of the best countries for American retirees, with low costs, great healthcare, and a high quality of life.
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Countries Where Americans Can Live And Retire
1. Portugal – Best for European Charm & Safety
Cost of Living: ~$1,500–$2,200/month
Why Retire Here?
Safe, affordable, and sunny climate (especially in the Algarve).
Great healthcare and a strong expat community.
Mild winters and beautiful beaches.
Visa & Residency:
D7 Visa (for retirees) requires ~$2,000/month income.
Path to permanent residency after 5 years.
Best City: Algarve (beach town with a large expat community).
2. Mexico – Best for Proximity & Affordable Healthcare
Cost of Living: ~$1,500–$2,000/month
Close to the U.S., easy to fly home when needed.
Low-cost healthcare and private insurance options.
Vibrant culture, beaches, mountains, and colonial cities.
Visa & Residency:
Temporary Resident Visa requires ~$2,600/month income or $43,000 in savings.
Can apply for permanent residency after 4 years.
Best Cities: Mérida (safe, colonial charm), Puerto Vallarta (beach life), San Miguel de Allende (arts & culture).
3. Ecuador – Best for Low Cost of Living & Nature
Cost of Living: ~$1,200–$1,800/month
Why Retire Here?
One of the cheapest expat-friendly countries in South America.
Mild climate (in the highlands) and stunning nature.
Great public healthcare (free for residents).
Visa & Residency:
Retirement Visa requires ~$1,350/month passive income.
Best Cities: Cuenca (mild weather, colonial charm), Loja (small-town feel, even cheaper).
4. Thailand – Best for Tropical Climate & Healthcare
Cost of Living: ~$1,300–$1,800/month
World-class healthcare for a fraction of U.S. costs.
Exotic beaches, mountains, and rich culture.
Expats live luxuriously for less—great food & cheap services.
Visa & Residency:
Retirement Visa (O-A Visa) requires ~$2,000/month income & health insurance.
Best Cities: Chiang Mai (cheap & cultural), Hua Hin (beach town, expat-friendly).
5. Colombia – Best for Urban Living & Low Costs
Cost of Living: ~$1,400–$2,000/month
Why Retire Here?
Affordable, modern cities with great food & culture.
Mild climate year-round in Medellín.
Good public transportation & walkable cities.
Visa & Residency:
Retirement Visa requires ~$800/month pension income.
Best Cities: Medellín (spring-like climate), Pereira (cheaper & quieter).
6. Vietnam – Best for Budget-Friendly Tropical Living
Cost of Living: ~$1,200–$1,800/month
Why Retire Here?
Extremely affordable food, rent, and healthcare.
Exotic culture and friendly locals.
Tropical weather & beach towns.
Visa & Residency:
No retirement visa, but long-term tourist visas are possible with extensions.
Best Cities: Da Nang (beach life), Hoi An (charming, quiet).
7. Spain – Best for Culture & Quality of Life
Cost of Living: ~$1,800–$2,300/month
Why Retire Here?
Beautiful cities, world-class healthcare, and laid-back lifestyle.
Low-cost wine, food, and public transport.
Warmer, cheaper regions in the south.
Visa & Residency:
Non-Lucrative Visa requires ~$2,500/month income.
Best Cities: Valencia (affordable beach city), Granada (low cost, rich culture).
8. Panama – Best for Easy Residency & Tax Benefits
Cost of Living: ~$1,500–$2,000/month
Why Retire Here?
Low taxes for expats, stable economy.
Tropical climate, beaches, and mountains.
Pensionado Visa offers discounts for retirees.
Visa & Residency:
Pensionado Visa requires $1,000/month pension income.
Best Cities: Boquete (cool climate, expat-friendly), Coronado (beachside living).
9. Nicaragua – Best for Ultra-Low Cost & Adventure
Cost of Living: ~$1,000–$1,600/month
Cheapest country on this list.
Beautiful beaches, volcanoes, and colonial cities.
Low healthcare costs.
Visa & Residency:
Retirement Visa requires ~$600/month pension income.
Best Cities: Granada (colonial charm), San Juan del Sur (beach & surf town).
10. Malaysia – Best for Modern, Affordable Living
Cost of Living: ~$1,500–$2,000/month
Affordable healthcare, modern cities, and tropical beaches.
English is widely spoken.
Great mix of beach towns, mountains, and urban life.
Visa & Residency:
MM2H (Malaysia My Second Home) Visa requires $10,000/month income.
Best Cities: Penang (island living), Kuala Lumpur (urban lifestyle).
Final Thoughts: Best Country for You?
For a European retirement: Portugal and Spain
For tropical beach life:Mexico, Panama and Thailand
For ultra-low cost of living: Ecuador, Nicaragua and Vietnam
For modern city life: Colombia and Malaysia
About the Author: Ruben, co-founder of Gamintraveler.com since 2014, is a seasoned traveler from Spain who has explored over 100 countries since 2009. Known for his extensive travel adventures across South America, Europe, the US, Australia, New Zealand, Asia, and Africa, Ruben combines his passion for adventurous yet sustainable living with his love for cycling, highlighted by his remarkable 5-month bicycle journey from Spain to Norway. He currently resides in Spain, where he continues sharing his travel experiences with his partner, Rachel, and their son, Han.
Iskandar Hack
Sunday 16th of February 2025
Please update the income requirements for MM2H, it's now RM40000 per month (close to $10,000 USD) and I believe that there's a new requirement to purchase property and have a deposit in a Malaysian bank.