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Top Cities to Retire For Only $37,000 a Year

Want to retire comfortably without draining your pocket? A renowned retirement coach named Edd Staton says you might want to think outside the box if you want to have a comfortable retirement. And by thinking outside the box, he means consider moving overseas.

According to him, you only need to pay a fraction of what you normally pay in the U.S. for your medical costs and personal expenses. For as low as $37,000 a year, you can live a comfortable retirement in these top cities.

Planning for Moving In/Out

While the idea of moving to another country may seem appealing, preparing to relocate to a foreign country can become a tedious and overwhelming experience. Not only do you need to adjust to a new place, but you also have to endure being separated from your family and friends.

Staton recommends you don’t think “vacation” when choosing a new country to move in. According to him, you might end up disappointed since you’ll be living 365 days a year in your new country of choice, not trying to get away from your daily life.

However, Staton says not to sweat too much about it. Thanks to technology, getting in touch with your family and friends is easier than it was before. You only have to open your Facebook Messenger, WhatsApp, or even Skype and you’ll be communicating with them in a few clicks.

Aside from that, most countries nowadays adopt the English language, so you don’t need to be learning another language unless you’re moving to a country with rare English speakers. With that said, Staton wants you to consider moving to these cities for your retirement.

Quito, Ecuador

This city in Ecuador has a number of livable suburbs like Parque La Carolina, Gonzales Suares, and Cumbaya. What’s great about this city is it adopts the US lifestyle with its museums, chain restaurants, theaters, and gated McMansion communities, so you won’t get homesick at all.

The cost of living in Quito only falls from $1,650-$1,825 per month or a total of $19,800-$21,900 a year! You can even save more money from your $37,000 budget if you live here.

Panama City, Panama

Want to experience a first world city in Central America? Move on to Panama City now. This city offers a high-quality of air, power, and water commodities. Aside from that, they have high-speed internet connection and cell coverage too. The best part? They use US dollars as their main currency! Panama City offers the best restaurants, waterfronts, and park areas for you to enjoy.

Panama’s health care system is one of the best in the world, making it a preferable choice for retirees to live there. A couple can rent a comfortable two-bedroom apartment for only $21,180 a year. If you want to live in a more luxurious home, you can avail it for only $34,680 a year, though you might end up straining your budget a little if you choose this one according to Staton.

Phnom Penh, Cambodia

Phnom Penh hails as a favorite place for retirees due to its low cost of living, thriving food scene, and bustling markets. Not only that, but this city in Cambodia also offers a backdrop of ancient temples and colonial French Architecture.

Due to its supreme affordability, the retirees can even afford to hire a housekeeper or gardener to maintain their home. The weather is also moderate and great to spend a round of golf throughout the year. A retired couple can already live a comfortable life here for just $1,838 a month or equivalent to $22,050 a year.

Hanoi, Vietnam

According to Staton, Hanoi is known for its rich mixture of Southeast Asian and French culture. The city has maintained its traditional ambiance despite thriving as a vibrant, modern city.

You can enjoy Hanoi’s chilly winter breeze, hot and scrutinizing summer, and near-perfect spring and fall weather without getting homesick. A retired couple can live a comfortable lifestyle in the Vietnam capital for only $905 per month or $1,860 a year.

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