20 Cheapest Countries to Retire in the World

Retirement doesn’t have to mean financial stress. Explore the most budget-friendly countries to retire in our comprehensive guide, and start planning for a worry-free future. From tropical paradises to historic cities, find out where you can retire without breaking the bank.

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10. Panama

cheapest countries to retire
Panama City / @arturogi / Getty Images Signature

If you’re looking for a non-conventional palace to retire among the cheapest countries in the world, you must consider Panama as one of your options.

The average cost of living in Panama is refreshingly economical, ranging from $1,200 to $2,000 per month. This includes accommodation, groceries, dining out, and leisure activities.

Moreover, Panama uses the U.S. dollar as its official currency, which provides financial stability and eliminates exchange rate hassles for retirees.

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Published by on September 25, 2023

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