A large portion of United States citizens in retirement who live on Social Security alone are having trouble paying all their bills. This is not because the average benefit of $1,666 per month in 2022 is exactly low, but because inflation has driven up prices so much. Living outside the United States and collecting the Social Security benefit is possible, although there are some countries where there are restrictions. One of the great advantages of enjoying retirement outside the country is the possibility of paying less each month.
There are countries where the standard of living is lower than in the United States. This does not mean that life is worse in those places, but it does mean that it is cheaper. Thus, with an average benefit of $1,666 per month, a person in retirement can live perfectly well, even saving. At the end of the day, the place where we spend our retirement is as important as the place where we work. That’s why we should choose a place that we like and that we can pay for with our Social Security check.
Foreign cities where to live in retirement
In these foreign cities a Social Security user can live his retirement in a quiet way and without spending a lot of money. Any pensioner will need no more than $1,000 a month for monthly expenses, according to LivingCost.
- Mazatlan, Mexico. With an average expense of $699 a month, this sunny Mexican city is ideal for retirement.
- Cuenca, Ecuador. In the city of Cuenca, in the country of Ecuador, you only need to have an average income of $741 to be able to pay for all the usual housing and day-to-day living expenses.
- Chitré, Panama. For only 847 of average expenditure we can live in this wonderful city of Panama.
- Santo Domingo, Dominican Republic. The Dominican Republic is one of the most visited places by retirees from all over the world. You will only need a Social Security check of 953 dollars to have a good retirement in this territory.
With these approximate monthly expenses, any of these foreign cities are perfect for retirement. We won’t need the maximum benefit of $4,194 per month in 2022 to be able to live in one of these places. In addition, with a basic benefit, without the need to reach the average check, all monthly expenses can be paid. This is one of the great advantages of being able to collect United States Social Security in foreign countries.
The final decision depends on the tastes of each citizen, but it is still good to know that there are places where we can pay much less money to live quietly Social Security retirement.