6 countries for retirement: affordable rents and low taxes

Many retirees are looking for a balance between increased income and loss of security.

After a long working life, many dream of retiring in style. But the truth is that in many cases, pensions provide lower purchasing power, which does not allow for a golden old age. However, there are countries where pensions can provide a better quality of life because they have lower price levels. However, another concern for this group of people is the peace of mind of their country of residence, and they seek to strike a balance between increasing purchasing power without losing a bit of security.

To find out in which countries their retirement "can be stretched", a ranking was compiled that took into account price levels and access to healthcare, as well as the Tranquility Index, which rates more than 160 countries on factors such as quality of life and the presence of unrest or conflict. The analysis identified the 10 cheapest and safest countries to live in retirement.

Portugal

The best place if you want a peaceful retirement life and a higher quality of life. Portugal is the sixth safest country in the world and the prices are very reasonable. In addition, a climate very similar to Spain's and many destinations that combine sun and beach with cultural attractions make it one of the most favorite retirement destinations.

Malaysia

A completely different destination than the previous one, but one that offers plenty of opportunities for retirees. A few years ago, the country began promoting the "Malaysia is My Second Home" program, which allows you to get a 10-year resident visa. Malaysia offers nature lovers gorgeous green landscapes as well as stunning white sand beaches and crystal clear waters. Malaysia is also considered one of the safest countries in Southeast Asia, ranking 18th on the Tranquility Index.

Moreover, according to a number of specialized publications, George Town is one of the best cities in the world to live in retirement, including thanks to low housing prices: rent of a one-bedroom apartment in the most central part of the city costs an average of 249 euros, and on the outskirts - 155 euros per month.

Spain

Spain is a favorite vacation destination for many European and American retirees. Art, culture, gastronomy, good weather, beaches and nature - all this attracts to Spain, which is also characterized by a very affordable cost of living, especially compared to prices in major European regions.

If you decide to choose this destination, you should know that rents in major cities range from 800 to 1,500 euros, and for those over 65 years of age are offered great discounts on public transportation, museums and other entertainment.

Costa Rica

Retirement here is pure living. Spectacular jungles, fabulous Caribbean beaches and, most importantly, prices that allow you to live life to the fullest: rent in the center of San Jose is 540 euros a month, and lunch at a local restaurant costs no more than 6 euros.

In order to live in retirement in this oasis of tranquility, which has one of the most qualified health care systems in Latin America, it is necessary to obtain a pensioner's visa, which requires a monthly pension of at least 2200 euros.

Panama

Panama is increasingly consolidating its position as a favorite vacation destination for retirees. The country has introduced a number of reforms to attract people from other countries, including retirees. A pensioner's visa can be obtained with a minimum pension of 900 euros per month, as well as discounts of 25% on airfare and restaurants and 30% on public transportation.

Living in Panama without many amenities can cost around €450 per month, although the country offers great opportunities, so living on a golden pension with all the luxuries can increase these costs to €1,500 per month.

Peru

Peru has an unrivaled variety of landscapes. It has everything from bustling cities, mountainous areas and quiet farming villages. Regardless of where you live, the cost of living here is one of the lowest in Latin America: for example, an apartment in Miraflores, an upscale neighborhood in Lima, can be found for about 670 euros a month.