10 Places Where You Can Retire for $200K
It’s a good idea to always have some money saved up, especially in the case of retirement. But how much would you actually need to retire comfortably in North America? Experts estimate that a couple would need anywhere from $275,000 to $1,025,000 to retire at the age of 65, and the exact number would depend on the place and your lifestyle. Either way, seems like retirement isn’t going to be as cheap as you’d think.
But there’s some good news! Budget travel expert Barry Choi says that it’s entirely possible to retire comfortably outside of North America with $200,000 and some benefits coming in. And these are countries where you can have a really good life surrounded by incredible experiences, friendly people, and as an added bonus, you get to enjoy the sun too!
Saving Up For Retirement
It’s never too early to save up for retirement. You might think that you’re too young for retirement and there’s plenty of time to think about it, but before you know it, you’ll be nearing the end of your career and staring into a measly bank account.
Ideally, we would all like to enjoy the same comfort and lifestyle -or even better- in our retirement as we do during our working years. But to do that, we need to start saving now. One of the best ways to save money is by opening up a savings account, and it should be one that you don’t handle frequently. You should set it up that a proportion of the monthly deposit from your checking account to automatically transfer into it so that you don’t have to think about doing it. It’s the simple logic of “out of sight, out of mind”.
Click on to see the 10 places around the world where you can retire for less than $200K.