Cheapest Countries to Retire Early With High Quality of Life
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- Опубліковано 19 жов 2024
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If you’re thinking about retiring early there are 2 crucial things: making enough money & not spending too much.
If you live in an expensive country your costs of living can be quite high. If you move to a cheaper place you can save quite a bit. In some places you can survive on less than 1000$ per month, in some places you can actually live quite comfortably.
So which are the cheap countries where you can also have a good quality of life?
These countries won’t break the bank, but will still provide most of the things you’d want.
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Author: Michael Rosmer
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please add timestamps🙏
Budapest is pretty good balance. Its quite centrally located in europe, hence flights to most eu cities is +-2 hours and cheap (maybe bc of lower airport fees i guess). Vienna is just 2 hours drive away if you need more connection options. Its relatively open in this covid time. Prostitutes and food are good and cheap. Its also medical tourism destination (at least for dentists as i know)
Excellent real talk. Approved.
It would be interesting to see a video that compares Eastern Europen countries in more detail- quality of life, infrastructure, healthcare options, insurance policies etc.
These can greatly vary from country to country.
For example, in Serbia you can get decent quality but still cheap private healthcare, even though the state healthcare (free) is falling apart.
In Montenegro you don’t have many options, and healthcare is quite bad in general.
I think that these things matter more as someone gets older.
Also, it’s quite different when you’re single vs relocating with a family.
I’m really not sure how good are Eastern Europan countries if one wants to come with a family.
Would be interesting to see this type of comparison.
Great content as always! 🙌🏻🙌🏻🙌🏻
Thanks for your support and the suggestions ☺
Definitely sounds like a good idea, stay tuned!
You can revise your assessment of Malaysia , they recently increased the salary requirement from $2500 a month to $10,000 a month to qualify for the MM2H. Also the cash bank bond is now @ 1 million ringgit /$240k plus you need $350k in liquid assets.
Won’t be many lining up for that ,,,and most of the existing MM2H holders won’t qualify to extend. Mass exodus out of Malaysia now
& Malaysia doesn't have a national health care...but U can live in Thailand over the Malaysian border = which used 2B part of Malaysia....(BUT w/out those hangups!)
Im a simple man, I see an updated video from Mike, I click.
Lol, thanks!☺
How did you like the video?
@@OffshoreCitizen Always worth watching. Keep up the good work.
Can confirm Turkey is cheap. Weather is good too. Ukraine is good too but weather is bad in the winter.
What else do you like about Turkey?
Istanbul is great (amazing food, safe) and cheap, but very few people speak English. Good value CBI.
@@2020-q1p same problem everywhere. Turkey is globalised the way you like it. Fast food, electronics, smart phones everywhere.
Montenegro temporary residency is by forming a company, with tiny minimum stay requirements; and together with buying a home property near to ADA Airport in Turkey, away from a university town, yet this is a route to an easy temporary residency in Turkey! After five years of temporary residency in Turkey it is permitted to form your own Turkish company, which has a participation exemption from corporate tax on dividends remitted from foreign sources abroad!
The minimum stay requirements in MN are actually pretty high and make it far less attractive than many other places
@@Vvermont keeping certain country Inc ...that buys land like a corporation...look at Iceland like ...Chyna bought tons of land in Iceland & then Iceland they stopped it ...look at Philippines like 7 miL Chyna ppL bought into the SSRV retirement visa at 35 years old ....then they stopped it
Thanks for sharing this wonderful video.
You're welcome!
What suggestion do you like the most?☺
@@OffshoreCitizen Generally, u always give excellent advice in your videos. D low cost of living attracts me d most. 😀
We enjoyed our trips to Istanbul, more modern than we expected. We were presently surprised. It did snow over Christmas when we went, which we were not expecting! Inexpensive, good internet, pretty good food, and interesting sightseeing.
I saw the video on Turkey CBI - getting another passport for $7,000! I would worry about opportunity cost and the Lire's value going forward. I'm too old for military service. Not sure if it's beneficial for us but interesting all the same.
@@tinglestingles Intredting so Military service mandatory in getting Turkish Visa?
@@unknowninfinium4353 the video explains
@@tinglestingles Does he mention it in the video? Cause I did not hear it.
@@unknowninfinium4353 yes he did
Hi Michael, excellent video. I have to say that I love Panama. Depending on where a person wants to go, it could be very affordable. For those who like big cities, Panama City is comparable to Miami in terms of cost, so that isn't exactly cheap. If a person wants an affordable beach community, there are loads of affordable places. For those who like a cooler, mountainous community, Boquete is beautiful and good deals can still be found on real estate. The people are friendly, the US dollar is used, and for North Americans it is an easy flight. US and Canadian citizens can stay for 180 days on a tourist visa before having to make a visa hop. For retirees, the Pensionado Visa is easy to get for those who don't want to do the visa hop, and discounts for people with that visa are great!
Thanks for sharing your insight!
For how long have you been there?
@@OffshoreCitizen , about a year. I divide my time between Miami and Boquete, Panama. I also want to get a place in Montenegro when the pandemic calms down. I eventually hope to get out of the US altogether.
Portugal is tax free for crypto retirees. 0% tax because crypto is considered a currency. Best locations in Portugal for expats: Algarve, Cascais, Porto. Lisbon is too population dense with high covid restrictions. If you run any type if business including crypto, taxes are high.
Are you in Portugal?
Yes. I can confirm what I am saying from first hand experience. Been living here a year. Originally from Canada.
Is Cascais ot very expensive?
Prices for food, drinks, etc in Kiev today are the same as Nicosia, Athens . You do not want to be in an ukrainian hospital. Cost for doing business is 10 times more than Bulgaria. Apartments price depends but usually under 140000 Euro you don t get anything " good " in Kiev and that can be a hundred year old construction
Thanks for sharing.
Are you in Ukraine?
@@OffshoreCitizen yep for the last 25 years I came in the late 90s...
@@dr.honorable141 And so do you recommend rather Odessa or Lviv ? If one was to chose the ideal place to live in Ukraine, which city would you recommend ?
Thank you. Where to live without a car and no tax ?
covid restrictions have a huge impact on QoL as well. If you consider both the metric that you used in the video, PLUS the covid restrictions, Armenia would be very high up on the list.
Are you in Armenia?
@@OffshoreCitizen recently for 5 momths
Amazing feeling to retire early
We would like to know about your take on Albania, Bosnia, or Serbia.
Much thanks 🙏😊☕
There are a few where we cover Serbia ua-cam.com/video/r2G8ANxDSUs/v-deo.html
ua-cam.com/video/ZSfvoS35y7o/v-deo.html
For the rest, stay tuned ☺
Let us know how you liked the videos
California is super cheap. Put out some tent and you get an ocean view stay.
Lol
And what do you think about our suggestions?☺
Tonythetiget86, with this "living strategy" everywhere is super cheap, I mean all around the world... 😉
@@NON-2022 why not go with california that gives you free food and medical care. 😆 🤣 😂
Will watch this little later but it sounds really intresting by the title :)
Let us know what you think once you do☺
For Malaysia, comments on the new MM2H program? Looks like the cost of getting residency is becoming too high for the value you get.
Have you done anything on Argentina, specifically Buenos Aires?
Not yet!
Do you have any interesting info?
@@OffshoreCitizen With the currency prices it may be very good value as well.
Is it possible to get residency in Bulgaria by starting a single person company ???
Check this video out and let us know what you think ua-cam.com/video/IKz_-dr-BW0/v-deo.html ☺
I'm not much of an Asia fan. My preference would be to spend six months in Eastern Europe and six months in Latin America. I like megacities that have a low cost of living, so it seems like my choices are going to be Istanbul and Mexico City.
Have you seen our video on Mexico ua-cam.com/video/caiNRUTJ19Y/v-deo.html ?😄
@@OffshoreCitizen Thanks. It's number 1 on my list. It's the perfect substitute for The US and Canada.
Istanbul is nice as a city, but you'll get constantly harassed to buy things--even when you're out of the tourist areas.
Good point comparing costs between Vancouver to Edmonton, but I have a question: how far ist the ocean in Edmonton
I lived and worked in Egypt for 10 years. Internet was better there than back here in the bad old USA
What else can you share about the experience?
@@OffshoreCitizen Where I lived access to fresh food was great. Farmers came to the town center once a week for a farmers market where you could buy anything you wanted. Fruits and veg that was in season and pick your meat on the hoof and it would be butchard for you. Traffic is a nightmare they believe the lines on the streets are decorations. Only place I have been where two cars, three motorcycles, and a couple of horse and carts can all fit in one lane. Pollution is bad and of course the heat in summer. I had two AC's and still couldn't cool my place. Don't get penthouse. I though it would be nice with a roof top view of the Nile. Lower units are cooler in summer. Money wise it is very cheap. Average Egyptian lives on $1,000 per month. I would spend about $2.000 and lived like a king. Locals were very welcoming. At first when they though I was a tourist so tried to hike the price of everything, but once they learned I was staying, I was project manager for a non profit building a hospital and school ect, they treated me same as everyone else. Summer and winter the place to go is Alexandria and in Spring and fall go to the Red Sea. If you have specific questions feel free to ask.
As I scroll through the comments it appears you're the 1st American to voice an opinion who's actually been to the country they're commenting on.
I wager Portugal appears!!! AND Mexico! 2 for 2!!
Being here in Calgary, Alberta I feel your pain. Lol
😔
How did you like the video?😄
@@OffshoreCitizen it was great. Totally agree with the regions you picked.
Eastern Europe is the best investment region I feel. From your videos it appears SE Asia and Latin America are upping their dollar amounts for entry and cost of living. I think I mentioned before that some Eastern European countries are still welcoming foreign investment and will play nice till they get in the EU
Can you do a video about north Cyprus please
Thanks a lot for this Michael. I have a request for you, kindly manage sometime to have a video on best Eastern Europian countries especially for families (spouce, dependent children, parents), evaluating points like HDI, education etc. Thanks.
Have you tried Czech Republic? Serbia?
Where in Canada are you Micheal. Calgary ?
At the moment Calgary. Normally going back and forth between Edmonton and Vancouver
Turkey 🇹🇷?
It’s the same on a similar channel (Nomad Capitalist) 😂
I don’t get it … the locals hate us, it’s politically unstable and borders a war torn region ! Pray tell, what is the attraction?
Maybe you should go visit Turkey and see for yourself.
@@25Soupy I know it very well !
Since you replied… I’ll post more.
There is crime. The taxi drivers are thieves, food is basic and the houses built to pitiful standards.
@@25Soupy you didn’t answer my question 😂
Locals don't hate you mate, I am a local. Especially in nice coastal cities like İstanbul, İzmir people are very friendly, highly educated. Those people you're talking about, they just hate everybody, including locals from the western parts:D
Retire early in Canada? Terrible climate, high cost of living, crazy high taxes. But some people feel they have have no choice. The government tax on fuel to heat my house equals the cost of the fuel (gas) itself. Small example but typical. The situation in SE Asia is very uncertain due to covid closures and travel restrictions. Eastern Europe is interesting, but cold winters. Mexico, Portugal and Cyprus are 3 top choices. If you expat to Portugal you can benefit from the NHR tax reduction.
Good summary👍
Sooo, what would be your top choice?😄
Unfortunately SA Asia became crazily strict ever since the covid started. I’m wondering when they’ll get back to normal
None of these videos ever consider that all your expenses will double in 12 through 20 years because of inflation. Additionally life is best played as an offensive game, so you should never retire.
Well if you've planned your investments well they should be growing with inflation, ideally faster than inflation but yes I agree never retire
There’s a possible middle of the road option. Some retired people from NA/EU live 6+ months in the Caribbean (October-March) and the rest back home. With one property on each side and they rent the vacant one on AirBnB (or managed).
Or to maximize high season yields they switch every 3 months.
Caribean is affordable?
I agree with this idea. You get the best of both worlds. and you can even do it where you’re not tied to one other country. You can do 6 months in the Caribbean one year and go home. You can do 6 months in SE Asia another year and then go home. Etc.
Michael is bang on in the video though with his regions. Eastern Europe is imo the most up and coming area in the world.
@@unknowninfinium4353 you can live comfortably on $600/mo + $850/mo rent if you stay in middle-class areas. But you might need to get a car to move around.
Where in carib
Why are you still living in Canada? Seems like the worst place for freedoms you could possible be in.
I also wonder why would anyone who's rich and whose surname doesn't end with "stein" want to live in that shithole. Unironically Eastern Europe provides greater freedoms than Canada.
I heard Portugal is super cheap but one of the most beautiful places.
Beautiful indeed 😄
Are you planning to visit?
@@OffshoreCitizen My Parents have, I like the idea of retiring there and returning to nature - away from the rest of this crazy world!
We moved to PV MX some 4 years past. Own our own property there. But got called back by family since C19. What a bunch of BS. Totally screwed up my retirement so far in past 3 years. F cking government.
What about Greece Micheal?
Romania, Montenegro, Turkey, Georgia. That would be my answer to the questions as a scandinavian. Its annoying to work at time zones too far away + too far from the family.
I was recently in Portugal (city). Didnt find it as cheap as I would have expected. As e.g. Turkey.
@@4ivar Same, Portugal is not cheap if you want halfway attractive area, even Spain had more selection of affordable nice places. Unless you move to so excluded area with no amenities, but you can probably find something similar in your own country, without all the headache.
@@4ivar Turkey is at least 2x cheaper than Portugal. Spain is a lot nicer than Portugal imo.
What would you say is the monthly cost in Portugal?
Turkey is better I recommend
Ecuador? I've never been there but Cuenca looks good and easy investor visa. Don't know about their infrastructure/ standard of living - but a lot of US citizens go there I understand. Quite difficult to reach from Europe?
Not a fan of most of Quito, but Cumbaya (the Eastern part) is nice. Never been to Cuenca, heard good things. Must be conversational in Spanish.
Let me guess: #1 = Monaco?
Yep! Said Roman Abromovich after parking his yacht there 😉
What about Latvia or its neigbor countrys ? Colombia ?
How about Sri Lanka or Cambodia, do you have any info?
Hmm will look more into it. Do you have any info?😄
@@OffshoreCitizen No haha that's why I asked you..... 😁
90 and sunny in Fl..
Why is Albania never discussed?
Albania still gets quite a bad reputation in that part of the world.
If you’re considering it it might be a good idea to visit and spend some time there (a couple months) before making any commitments
@@tw9419 .. Thank you..
Probably because Albania doesn't have any major city, so people are just going to opt for Belgrade or somewhere else.
Good topic but I felt you were too hurried. Please focus on countries that were good for expats and give more facts and less time on what might not be good location.
Thanks
Thanks for the feedback.
Anything you'd like to see next?
Would be interesting to do similar video for families with kids, specifically those going to international schools or homeschooling. Also, how well English is spoken and if it’s possible to get by without learning some niche language like Bulgarian.
Great suggestion, stay tuned!☺
How did you like these suggestions?
To be the best, these countries must accept Bitcoin and Tether as a legal tender.
I have a frenemy who is earning north of 7% per MONTH on US$180K residential real estate investment, so there are clearly ways to retire quite comfortably on $300k.
Ukraine...retirees would be dumb to move there. Healthcare is terrible in Ukraine. Infrastructure is bad. And Russian aggression hangs over that country. I think it would be valuable to not just list countries that may fit an idea but also talk about how well they fit.
Agree. I wouldn’t want to move to Ukraine or South Korea for those exact reasons. Might be okay from certain perspectives but having the treat of invasions or bombing or ‘discomfort’ from a neighboring country isn’t for me and my family. Maybe I should stop watching the news! 😂
@@lucchese20 Life in South Korea is great. Only problem is it's not cheap (real estate, groceries, international schools, etc.) and winters are brutally cold. Nobody really cares about North Korea. It's mostly media hype.
Totally agree. The risk from NATO and their aggressive/politically pushing/threatening Russia is a too big risk. NATO will never stop until they get their war (to justify their ridiculous high military spendings).
How prophetic. Just reading your comment now and am shook at how right and accurate you ended up being. How sad for the people of Ukraine.
Red deer Looking at a second citizenship because a family business wealth transfer in the future
Time stamps would be helpful since I may not be interested in particular countries. I only spend 10 minutes+ watching a video if I know what you're going to cover. Thumbs down.
Thanks for the feedback.
Anything you'd like to see next?
Uuurrghhh you are the noughties man ever, move to Malaysia...fine I'm gonna Vlog for you guys soon
Im in Colombia the infrastructure is at least on par or better than Mexico and allot cheaper than Mexico or Bulgaria. And I would rather learn Spanish ( more useful language) than Bulgarian 😕
That's a valid point
Do you speak any Spanish at the moment?😄
Hi Kyler, what city in Colombia are you in? Prices vary quite a bit in Mexico depending on which state, city, and town you're staying in.
Just do something that will earn you money while you sleep, no matter how little. A pandemic is the perfect way to open your eyes to really see what life could be like without your usual income stream and everyone had to stay home. Well I never felt it because I invested in a trading company where I earn 4 digits per week. The best thing you can do for yourself is invest more and spend less
Solid advice.
Are you planning to invest more in the future?
You should check The Gambia !!
Will see what we can find on it😄
Do you have any info?
@@OffshoreCitizen all have a Residence Permit
Please speak clearly
I think ur mic is not good
@@Pankaj-ps1yj Quite clear might be on your end
He is clear, Mucheal usually has a low voice.
its mild and beautiful in montreal!! 27 degrees
Lucky you!
How did you like the video?😄
Living in Alberta Global warming is a positive thing
Lol
Are you in Alberta?
Yes red deer alberts
:( I watched the whole video and was expecting something more.
Like what? We're open to suggestions☺
@@OffshoreCitizen oh I don't know... names of countries and a little more specifics. I guess I thought you would be a little more specific rather then so broad. Or maybe I was expecting something new as I feel like a lot of people already know about mexico, portugal, or southeastern asia.
What about India. Most tier 2 cities are very cheap compared to the mentioned ones
Yeah... How do you perceive the quality of life there?