If I were single now, and my social security check was $1000 per month, where would I retire today?
One of my members asked me this question. Dan, where would you retire today, if you were single, and wanted to live a stationary life on $1000 per month? So I have been thinking about that, and I will share it with you now.
My name is Dan. I left the United States 18 years ago, and I have lived in 73 countries so far. I write reports about the best places to live in paradise for pennies.
So, in this video, I will share where I would retire today on $1000 per month if I were single. I would retire in SE Asia for reasons I will now explain. But some of you want to know where I would retire in Latin America or Europe on a tight budget. So I will share that after I discuss SE Asia.
I have picked these places to retire based on four simple criteria: affordability, acceptance by locals, and a high quality of life. Quality of life for me means feeling good about my life while I am living there. I must also feel safe, enjoy my day-to-day life, and feel welcome by locals.
I will show you the video I took while my feet were on the ground in each place.
After I share my four favorite countries in SE Asia and why, I will share which one is my favorite. My favorite is the one I would move to today and live a stationary life on $1000 per month, if I were single. I will share my favorite place last. The last place is what I would actually do today as a single trying to stay on $1000 per month.
Cambodia
Siem Reap, Cambodia, has a feeling of serenity that is as strong as anywhere in the world I have ever been. That is at least in part because Siem Reap is adjacent to the largest spiritual temple grounds in the world, Angkor Wat, covering over 400 acres.
Satellite imagery of Angkor Wat indicates that it may have been the most populated city in the world in the 13th century when it began its slow decline and was almost completely abandoned in the 15th century AD.
Since Angkor Wat was added to the UNESCO World Heritage List in 1992, Siem Reap has steadily flourished as tourists arrive from all over the world.
The central area of Siem Reap now has an assortment of international restaurants and 5-star hotels that remain successful because of International tourism. Yet the cost of living has remained relatively stable because Siem Reap has not yet been flooded with Western retirees or digital nomads.
There are some long-stay expats, but not enough to force prices up as quickly as other areas of SE Asia.
There are still decent furnished apartments within walking distance of the central areas of Siem Reap, starting at $250 USD per month. But don’t expect to find them on Airbnb. Book a budget-friendly hotel in the central area and explore the neighborhoods of interest to find long-term landlords with more affordable rates.
I cover how to do that in my Finding Apartments report.
I could settle long-term in Siem Reap, eating mostly in local-style restaurants and shopping in the public market, which would keep my combined grocery and restaurant food bill to around $300 per month.
With utilities, incidentals, and entertainment at around $250 per month, it would cost me around $800 per month to live in Siem Reap with a more local lifestyle. Everything I would need is walkable from the central area.
In this analysis, for all countries mentioned, I am assuming that I would have a significant amount of cash available for unexpected expenses and medical emergencies. I cover how I would do that in another report, The Two Biggest Risks of Retiring Early for Cheap Overseas.
In Cambodia, retirees can get a one-year renewable visa for about $300. At this time, that visa has no minimum monthly pension requirement. So, many retirees come to Cambodia because of the easy visa and stay for the stunning landscapes, the deep cultural experience, the low cost of living, and sincere local smiles.
While in Cambodia, high-energy city lovers should also explore the capital, Phnom Penh. Phnom Penh has a crazy nightlife, rooftop happy hours, and a few walking streets, but it is not as over-the-top crazy as Bangkok. But don’t expect Siem Reap prices in Phnom Penh.
Cambodia also has the laid-back rural city of Battambang with a slightly lower cost of living, the riverside city of Kampot, and the chill beach city of Kep. But my favorite is still Siem Reap.
Most people who move overseas will struggle to maintain a lower budget. They will spend significantly more per month on accommodations, eating foreign foods, and drinking foreign adult beverages. So don’t assume you can keep this sort of budget.
You must conduct an exploratory visit here to determine your budget based on your lifestyle and needs. More typical budgets for singles living in Siem Reap range from about $800 to $2000 per month.
In summary, I would choose Cambodia if I were unwilling to take the risk of driving a scooter and wanted an annual visa that I could obtain for $300 USD, if I were reluctant to do any visa runs. Siem Reap would be great since everything in the center is walkable, and it is a lovely, serene environment.
Philippines
I have spent almost two years touring all over the Philippines. I can say without reservation that if you are interested in exploring remote white sand beaches, floral coral reefs, colorful fish, and gorgeous waterfalls, the Philippines will be your personal heaven.
The Philippines is also famous for the beautiful, friendly people who live there. And many single Westerners go to the Philippines to find love during their retirement years.
The hard part about the Philippines would be picking where to live. There are so many places we have been and loved. So I had to think about this carefully.
I would want to be in a city on the beach. But not a white sand beach, just a normal beach. The cities on white sand beaches are few and far between and are often outside the budget range of $1000 per month now for a single person.
I also would want to be in a city that had a great mall or two, a great nightlife, some reasonable rents, and a well-stocked public market with reasonable prices. I would want a few expat friends around, but not a city full of expats. That would create too much competition for dating and would eventually push prices up.
When I think about all of these requirements, I think Roxas City would be good. It feels like a smaller city, but there are enough people (180k) to keep it interesting living there. It has a great mall, a great public market, hospitals, a great nightlife, and many friendly, smiling people.
The Philippines is generally not known for having a large selection of high-quality international restaurant choices (other than in Metro Makati), but that doesn’t bother me because I do most of my own cooking when I am living in the Philippines. Plus, the public market in Roxas City is well stocked with fair-priced fresh groceries.
There are still furnished apartments in Roxas, starting at $300 USD per month. Like before, I would find one by exploring neighborhoods, looking for rental signs, and talking to locals. I would stay away from the Internet-connected landlords in order to find long-term, lower rent prices.
I would cook mostly at home and shop in the public market to keep my personal combined grocery and restaurant food bill to around $250 per month. Roxas is a little spread out, so I would buy a used scooter and helmet for around $1500 USD.
Utilities, incidentals, entertainment, and scooter expenses would cost around $300 per month. So my recurring monthly budget would cost me around $850 per month to live in Roxas City with a more local lifestyle.
You must conduct an exploratory visit here to determine your budget based on your lifestyle and needs. More typical budgets for singles living in Roxas range from about $800 to $2000 per month.
Again, as mentioned above, I would have a significant amount of cash available for unexpected expenses and medical emergencies, as explained earlier.
When arriving in the Philippines, passport holders from many countries are issued a 30-day visa exemption and visa extensions for up to 36 months. So, many expats just choose to extend their visa every 30 days until they are asked to leave, which can be as long as 36 months. Then they just do a visa run to a nearby country for a few days, fly back to the Philippines, and start the whole process over again.
While in the Philippines, cooler weather lovers should check out the mountain city, Baguio. White sand beach lovers should check out Siquijor or Puerto Galeras. And big city lovers should check out Metro Makati. And people looking for a soft landing with more expats should check out Dumaguete.
In summary, I would pick the Philippines if I wanted to be around locals who speak English, I knew how to cook, and I was willing to spend a few hours every month in the immigration office doing visa extensions. I would pick Roxas City if I were willing to drive a scooter.
Thailand
Thailand has so many great places to live, it would be hard to pick a favorite. Since I would prefer to be near beautiful beaches without breaking the bank, I would choose the beautiful island of Koh Phangan.
Koh Phangan is a less developed island just a short ferry ride away from the Island of Koh Samui. It has a cute little walkable city area near the public market and a great night market to try all of the reasonably priced local foods.
The fun stuff to do on Koh Phangan is spread out along the west side of the island, so I would need a scooter to enjoy it all. So, I would buy a used scooter and helmet for about $1500 USD.
There are still furnished apartments available on the west side of Koh Phangan starting at around $300 USD per month. Like before, I would find one by exploring neighborhoods and looking for rental signs, and talking to locals. I would avoid Internet-connected landlords to find a long-term apartment with lower rents.
I would cook about half of my meals at home by shopping in the public market, which would allow me to keep my combined grocery and restaurant food bill to around $300 per month.
Utilities, incidentals, entertainment, and scooter maintenance would cost around $300 per month. So my recurring monthly budget would be around $900 per month to live on Koh Phangan island.
You must do an exploratory visit to determine your budget based on your lifestyle and needs. More typical budgets for singles living in Koh Phangan range from about $1000 to $2000 per month. I would have a significant amount of cash available for unexpected expenses and medical emergencies, as I explained earlier.
In Thailand, individuals aged 50 and above can obtain renewable retirement visas by depositing around $25k USD in a Thai bank or proving they have around $2000 USD per month in pensions and completing other requirements.
For retirees looking for a high-energy big city with fantastic shopping, nightlife, and restaurants, consider Bangkok; for mountain lovers, check out Chiang Mai. For expats seeking a soft landing with plenty of fellow expats to socialize with, consider Jomtien, Thailand.
In summary, I would choose Thailand if I had either $25k to deposit into a Thai Bank or could prove a $2000 USD monthly pension. So, I would pick Koh Phangan Island because it has the peaceful island feel that I love in Thailand, with beautiful beaches, but it is not too crowded or expensive like other islands.
Now, it is time to explain what I would do if I were single today and wanted to maintain a tight budget of $1000 USD per month. Then, I will explain my personal approach and reasons for considering retirement in Latin America or Europe.
Today’s Tip: Never overstay any visa anywhere in the world. Always arrange your exits a day or two before you are required to be gone. Countries are beginning to share immigration data with each other. There could be a day when your overstay is an internationally shared blemish on your travel record. That could eventually limit your choices as you travel the world.
Vietnam
Right now, I have a personal favorite country in the world, and it is Vietnam.
Deciding to retire in Vietnam would require a visa run every 90 days. Each visa run would give me 90 days to stay in Vietnam.
I would spend one of those 90-day visas in Da Lat during the 3 months of high season in Nha Trang. After high season in Nha Trang, I would spend the next three 90-day visas there, when the beaches are less crowded with tourists.
I would pick Vietnam because I have been slow-traveling the world for 18 years. I would want to live somewhere that had a really easy life and everything was walkable and nearby, so I wouldn’t need a scooter. I would eat delicious, healthy, local food for $1.50 per meal.
About once per week, I would eat in an expensive international restaurant serving one of my comfort foods from home for about $6 to $8 USD per meal. Both cities have reasonably priced gyms that I could pay for only for the months I was there.
By living in the cool mountains of Da Lat during the warmest part of the year, I would also avoid paying for AC at the beaches in high season.
Both Da Lat and Nha Trang still have furnished small apartments available for starting at around $300 per month. I drink only coffee at home for breakfast, so two local meals per day at $2 per meal would cost me about $120 per month.
Add one expensive international meal per week at $10 each, which would cost another $40 per month. Throw in some fresh fruits and vegetables from the public market for snacking, and I would spend a total of $200 per month for groceries and restaurants.
Utilities, incidentals, and entertainment would run another $250 per month. So my recurring monthly budget would cost me around $750 per month to live in Vietnam. So my annual costs in today’s dollars for twelve months at $750 per month would be $9000 USD.
But that does not include four visa runs per year. I would use my visa runs to visit some of my other favorite parts of SE Asia. By booking in advance, my visa-run flights, round-trip from Vietnam to Cambodia, Malaysia, Thailand, or the Philippines would average around $100 per visa run.
A cheap hotel during each visa run would run about $30 per night for six nights ($180), and food would cost around $15 per day ($90). My return visa fee to Vietnam would be $25 USD, so I would spend about $500 per visa run.
At four visa runs per year, that would cost an additional $2000 per year. Add my $2000 for visa runs to the $9000 per year, and my annual cost of living would be around $11000 per year.
So it would cost me around $1000 per month, including visa runs, to live in Vietnam. Plus, I wouldn’t need to have any money in foreign banks, so I would avoid many of the problems upsetting other expats. And I wouldn’t have to report any foreign bank accounts to my home country, the US, because I don’t have any.
Also, I would not have to jump through all the reporting and renewal hoops to keep a retirement visa that some of the other countries require. Yet, these plans all require having access to significant savings to cover me in the event of unexpected emergencies or medical expenses.
Okay, now I will briefly explain what I would do personally, and why, if I wanted to retire in Latin America or Europe. Then I will explain what to double-check before booking flights to any of these countries.
Europe
I know some of you out there want to spend time exploring various parts of Europe. Then it would not make sense to take a base in SE Asia. The expense and time for long flights would be prohibitive for many of you.
In that case, I would take my base as Tirana, Albania. I could take short flights and ferries to various parts of Europe as money and resources permit. I would also consider buying a small van to tour around Europe.
I could sleep some nights in the van to save money and get up every morning and go to one of the gyms that have locations all over Europe. I would also sublet my apartment in Tirana to help cover expenses in Tirana as I explore other parts of Europe.
The cost of this lifestyle would vary so greatly that it would be hard to estimate. But I think, as a single, I could do it for about $1500 to $2500 per month in the months I was exploring Europe on the cheap, and $1200 per month in the months I was living in Tirana, as a single person.
Latin America
If I wanted to have short flights to North America and be in the same time zone, I would probably stay in Antigua or Lake Atitlan, Guatemala for most of the year. The cost of living there would start around $1200 per month for me, and starting around $1600 per month for other single expats who are living more like Western expats.
Antigua and Lake Atitlan are two of my favorite places in Latin America. The colonial era center of Antigua Guatemala is one of my favorite areas in all of Latin America, and it is not far from the USA or Mexico.
Before you fly
Visa and entry rules change all the time. Make sure to check the Embassy in your home country for any country you want to visit. That is the Embassy for whatever country you want to visit that is located in your home country. The Embassy’s web page will explain what Passport holders from your home country need to obtain entry.
Do not trust ChatGPT or third parties because the rules change all the time. Also, check to see if that country requires an electronic travel authorization, or ETA. The ETA is completely different thing from a visa that many countries are now requiring.
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