Retirement

Retire In These 30 Beach Towns For Only $40,000 Per Year

CR Staff - May 23, 2023

3. Phnom Penh, Cambodia

According to IL’s Annual Global Retirement Index, Cambodia is ranked near the top as one of the most affordable places to live in the world. Local residents are friendly and welcoming to Americans, and many people even speak English. Cambodia has only two distinct seasons and consistently warm, tropical temperatures all year. The monsoon season brings heavy rains and humidity. Collectors of rare and tropical plants will enjoy the abundance of rainforest plants that are native to Cambodia. Life expectancy and health care facilities are rapidly developing and improving throughout Cambodia, making it a solid choice for an affordable retirement experience.

Expats can live comfortably on less than $30,000 per year. The US dollar stretches a lot more in Cambodia, so any American who lives there can have a high quality of living. The city of Phnom Penh has apartments where you can live in a one-bedroom apartment for just $250 per month. Utilities are roughly $100 per month, with food being another $200. One US dollar is equivalent to over 4,000 Cambodian Riel, and while there is obviously some inflation, a US dollar will still stretch a long way allowing for a very comfortable, and possibly even luxurious, retirement.

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2. Pedasí, Panama

Four hours away from the bustling Panama City, the small town of Pedasi sits on the Pacific coast. It was once a small fishing village along the sea and has a very relaxed and laid back lifestyle. The beaches are brown and lined with rock formations. Pedasi is considered to be one of the best places to surf in the world. Temperatures stay between 75° to 93° all year long, and it’s far less humid than Panama City. Since it is a more remote village, it will likely be essential to learn Panamanian Spanish to be able to communicate with the locals.

The cost of living is very affordable. According to Panama Equity, most couples live comfortably on just $1,500 to $2,000 per month. You can buy a beer for just $1 and hire a housekeeper for only $15 a day. Any other help you might need like gardeners or handymen costs just $5 per hour. The average cost of a 2-bedroom house is $100,000. Rent is only $500 to $1,200 per month, depending on the size you are looking for. The US Dollar is worth exactly one Panamanian Balboa, so the international currency conversion is extremely straightforward.

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1. Central Valley, Costa Rica

Costa Rica is a gorgeous tropical paradise that has been called “the best climate in the world.” It is warm all year long, and rarely gets hit by major storms. In The Central Valley, the majority of the nation’s population lives there. This means that you will find plenty of medical facilities, shopping, restaurants, and entertainment. You can also enjoy amazing natural sights like volcanoes, waterfalls, rivers, and rainforests. The main language spoken in Costa Rica is Spanish, but there are also some people who can speak English thanks to the high number of expats and tourists in the area.

Depending on the lifestyle you want to live, you could survive on under $1,000 per month, or spend upwards of $2,000 if you plan to have the life of luxury. If you are looking to buy a property in the Central Valley, there are a number of condos and houses that cost less than $200,000. And if you are looking to visit, it is possible to rent a gorgeous villa with a pool for just $45 per night on Airbnb. One US Dollar is the equivalent of just over 614 Costa Rican Colón, so your retirement savings and income can go a long way.

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