Santa Marta, Colombia.<\/p>\n
getty<\/p>\n
The average monthly Social Security check<\/a> for retired workers hit $2,005.05 in June. It\u2019s a source of income that millions of Americans rely on when they leave the workforce\u2014but is it enough?<\/p>\n According to Consumer Expenditure Surveys<\/a> data, the average retired household in the U.S. spends around $5,000 per month. That\u2019s quite the shortfall. For those looking to get the most bang for buck from their retirement income, a move overseas could be the answer.<\/p>\n First, it\u2019s important to note that while there are many retirement havens where you can live well on a budget of $2,000 a month or less, making a move overseas does involve additional expenses.<\/p>\n You will need to factor in the cost of moving\u2014yourself, your belongings, your pets\u2014and getting legal residency. It\u2019s also advisable to have a contingency fund set aside for other expenses such as health care, a rental deposit, trips back home and other needs.<\/p>\n In addition, you will need to meet the income requirements for the residency visa in your chosen country. Some countries don\u2019t require proof of income for residency or have no set minimum amount. Others come with a high income threshold\u2014Ireland\u2019s is $58,172.68 (\u20ac50,000) per person per year.<\/p>\n All this considered, here are three great overseas options for those looking to stretch their retirement income without compromising on their standard of living.<\/p>\n Phuket, Thailand<\/p>\n Freedom Beach, Phuket, Thailand.<\/p>\n getty<\/p>\n Phuket, Thailand\u2019s biggest island, is adorned with white sand beaches, turquoise waters, verdant jungle and majestic limestone cliffs. It\u2019s located close to the equator, so enjoys hot to warm weather throughout the year. The average high is 90 degrees F and average low is 75 degrees F. <\/p>\n This balmy spot is home to an expat community of more than 100,000\u2014many of them English-speaking\u2014so settling in and making friends can be easy.<\/p>\n There are two private hospitals in Phuket: Bangkok Phuket Hospital and Phuket International Hospital. They treat thousands of foreigners and locals every year and offer superb care and English-speaking staff.<\/p>\n The low costs<\/a> are a big draw, too. Here, many indulgences\u2014from dining out at nice restaurants to spa treatments, fishing trips to health and wellness services\u2014cost much less than what you\u2019d pay in North America.<\/p>\n Phuket is a dream destination for outdoor recreation lovers with every kind of water sport imaginable. Hiking, golf and padel are popular here, too. Social groups organize around diverse interests and you\u2019ll find sports leagues, volunteer opportunities, get-togethers at bars, trivia nights, charity events, networking events and more on offer.<\/p>\n Thailand\u2019s retirement visa is called the Non-Immigrant O-A Visa. The basic requirements are that you are at least 50 years old, receive an income of about $2,000 per month and carry health insurance. This visa is valid for one year at a time and can be renewed indefinitely.<\/p>\n Southeast Asia is famous for its affordability, and while Phuket\u2019s popularity with tourists and expats has driven up prices in recent years, it\u2019s still budget-friendly by most people\u2019s standards. Long-term rentals start around $500 a month, and a monthly income of $2,000 would afford you a comfortable life here.<\/p>\n Mendoza, Argentina<\/p>\n Mendoza, Argentina.<\/p>\n getty<\/p>\n Mendoza is Latin America\u2019s first wine-growing region, and where vines grow, the living is generally good.<\/p>\n Here in the interior of Argentina, food, wine and interesting conversation are the priorities of life. This region\u2019s laid-back atmosphere, safe cities, developed infrastructure, unspoiled culture, affordable cost of living and friendly people combine to create an idyllic lifestyle.<\/p>\n This is a good choice for active retirees who aren\u2019t ready to sit back and rock on the front porch. You could spend your days skiing, hiking, climbing, playing golf, bird-watching, white-water rafting, kayaking and even kite-surfing, and your evenings practicing tango.<\/p>\n Mendoza has a reputation as one of the most affordable places to live in Argentina. You can rent a semi-furnished, two-bedroom apartment for $400 to $1,000 per month. Catch a bus for 50 cents and dine out for $25. A monthly budget of $2,000 would see you living well here.<\/p>\n Argentina\u2019s retirement visa is known as the Pensionado Visa. The basic requirements are that you\u2019re 65 (men) or 60 (women) and receive pension income of five times the minimum salary. This works out to around $1,400.<\/p>\n The initial residence permit is valid for one year, but it can be extended for up to three years. You can apply for citizenship in Argentina after just two consecutive years of residency.<\/p>\n Mendoza has an arid, four-season climate with average highs of 76 degrees F and lows of 11 degrees F. Summer in Argentina is from December to March and winter is from June to September.<\/p>\n Santa Marta, Colombia<\/p>\n Santa Marta, Colombia.<\/p>\n getty<\/p>\n A 90-minute flight from Colombia\u2019s capital, Bogot\u00e1, on the country\u2019s Caribbean coast, lies Santa Marta. Colombia\u2019s oldest colonial city, Santa Marta is an under-the-radar gem popular with well-heeled, in-the-know Colombians who vacation here for reasons including its affordability, great climate, soft golden sands and warm Caribbean waters.<\/p>\n It\u2019s a geographically diverse spot, with the Caribbean Sea to the north and west, Tayrona National Park to the east and Colombia\u2019s Sierra Nevada mountain range to the south.<\/p>\n The historical center is filled with quaint, narrow lanes, white-washed Spanish-colonial architecture and squares lined by everything from pizza joints to burger bars to more upscale Italian and Mediterranean food.<\/p>\n The newer part of the city features an attractive seafront park and plenty of small caf\u00e9s and bars, as well as boutique hotels, excellent seafood restaurants and a cruise-ship port. There\u2019s also a 256-slip marina and new, tasteful condo projects all around. And, of course, golden sand beaches offering a wealth of recreation activities.<\/p>\n Colombia\u2019s overall standard of healthcare is the best in Latin America\u2014better ranked by the World Health Organization than both Canada and the United States.<\/p>\n There is less English spoken in Santa Marta than in other Latin American beach destinations, so you\u2019ll need to pick up some Spanish to get by here.<\/p>\n Colombia offers a handful of different residency options, including a retiree-specific visa (the Pensionado Visa). The basic requirement is that you receive a pension of about $1,000 per month. This gets you residency for one to three years at a time.<\/p>\n Santa Marta has a tropical dry climate with average high of 91 degrees F and lows of 75 degrees F. A budget of $2,000 a month will go a long way in Santa Marta. Monthly rentals start at around $400.<\/p>\n MORE FROM FORBESForbesRetiring Abroad On A Military Pension\u20143 Expat Havens For U.S. VeteransBy Kathleen Peddicord<\/a>Forbes5 European Towns Where You Can Buy Property For Under $100,000By Kathleen Peddicord<\/a>ForbesClaiming Social Security Overseas: A Quick Guide For U.S. CitizensBy Kathleen Peddicord<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Santa Marta, Colombia. getty The average monthly Social Security check for retired workers hit $2,005.05 in June. 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