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    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
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  • Home
  • Countries

    Top Destinations:

    Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

    • Spain
    • Portugal
    • Panama
    • Belize
    • Colombia
    • Cyprus
    • Mexico
    • France
    • Montenegro
    • Browse All Countries

    Best For:

    • The Best Places To Retire
    • Health Care Abroad
    • Cost Of Living
    • Investing in Real Estate
    • Establishing Residency
    • Gun Laws In The World
    • English-Speaking Countries
    • Safest Places For Retirement
    • Best Places In Latin America
  • Budgets

    How Much Will It Cost You To Live Overseas?

    The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
  • Resources

    Global Living

    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore & Diversification

    Making Money

    • International Real Estate
    • Banking
    • Employment
    • Investing

    Follow Us:

    • Meet Our Experts
  • Real Estate

    Buying Real Estate For Cashflow

    • Discover tips and strategies used by global property investing veterans

    Explore Our Latest Posts

    • Learn how to invest and purchase property abroad…

    Go To The Overseas Property Alert Site

    • How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams
  • Conferences

    Upcoming Events

    • Explore Our Events Site

    Live and Invest In Spain Conference

    Offshore Wealth Summit

    Greece Workshop

    VALENCIA, SPAIN

    Sep. 17-19, 2025

    PANAMA CITY, PANAMA

    Oct. 15-17, 2025

    VIRTUAL

    Nov. 13, 2025

    LEARN MORE
    DISCOUNT
    LEARN MORE
    PRE-REGISTER
    LEARN MORE
    PRE-REGISTER
    • MORE EVENTS

    Contact Our Events Team

    Toll-Free U.S. and Canada:
    1 (888) 627 8834
    From Outside North America:
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    Working Hours
    Monday – Friday 08:00 am – 17:00 pm EST.

    Reach us with your questions by email at: events@liveandinvestoverseas.com

  • Store

    Unlock The World

    • Access Your Library

    Overseas Havens Reports

    • Expats' comprehensive destination guides

    Conference Kits

    • Hours of coverage  from our latests conferences

    Lahardan Books

    • Titles on living and investing around the world
    • Explore Our Store
    Your passport to a life well-lived abroad

    Services

    overseas living letter offers affordable retirement guidance
    The Simon Letter Wealth Protection Insights
    Global Property Advisor Global Investment Opportunities

    Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com

  • My Library
Live and Invest Overseas
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THE 10 BEST PLACES TO RETIRE IN 2025

the 10 best places to retire in 2025

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Home Investing

The Best Way To Beat Inflation For Retirees

Don't Let Inflation Kill Your Retirement Dream—Do This Instead

by Kathleen Peddicord
Jun 26, 2022
in Investing, Retirement/Living
0 0

Inflation is running at better than 8%… the greatest rate in more than 40 years.

Your weekly grocery shop is setting you back nearly 11% more today than it did a year ago… and fuel oil is costing you double what it did this time last year.

I’m not telling you anything you don’t already know… but I do have a point.

This pressure on your retirement budget, especially if that budget is modest and fixed, is not a reason to give up on the idea of retiring.

No… the answer to surviving our inflationary age is to take your retirement on the road.

Not everywhere in the world is experiencing inflation at the same rate.

Plus… in many, many appealing places to retire overseas, the cost of living is so much lower than in the States to begin with that inflation would have to do its thing for a long, long time before it’d increase your monthly costs beyond a very affordable level.

Americans 65 years and older are spending a mean of US$47,579 per year, or US$3,965 per month.

In many of the world’s top retirement havens, that budget will buy you a luxury-level lifestyle…

What if you’re retiring on less than—maybe much less than—US$4,000 per month?

No problem. Here are three tempting places to retire well on half that budget… or less…

#1. Chitré, Panama

Small fisherman boats at the bay and the houses in El Rompio village near town of Chitre in Panama
Alamy/Marek Poplawski

Chitré is a beach town along Panama’s Pacific Coast, about a three-and-a-half-hour drive west of capital Panama City. It’s a small town, with a population under 10,000 people, but because it’s a local hub of commerce and transport, it offers the conveniences of a much bigger city, including shopping, banks, health care, legal services, real estate agents, and more. This makes life convenient for retirees.

Chitré receives limited tourism attention and has a small expat community, so prices for everything remain low. The cost of living is highly customizable and depends on your lifestyle preferences. If you eat at local restaurants that serve traditional Panamanian fare, you’ll pay about US$5 to US$10 for a full meal, versus US$20 to US$25 at the international restaurants.

If you shop for local produce and seafood at the open-air market, you’ll spend about US$100 per month on groceries versus about US$425 shopping at supermarkets for imported goods, which cost a premium.

You can further reduce expenses by living in a central part of town and getting around on foot rather than by car. One thing you can’t skimp out on here is air conditioning for your home, which will run up a monthly electricity bill of about US$125 depending on use and the size of the space you are cooling.

On a monthly basis, a couple can expect to spend about US$1,600 if they own their own home in Chitré or about US$2,000 if they rent. With a minimalist lifestyle, you could get by here on as little as US$600 per month.

About 500 expats call Chitré home. Aside from the low cost of living and diverse amenities, they are attracted here by friendly, small-town environment, warm weather, and excellent beaches, including the opportunity to own affordable beachfront property.

For all of these reasons, we’ve named Chitre the number-one place to retire well on a budget in Panama.

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#2. Chiang Mai, Thailand

Landmark Pagoda in Doi Inthanon National Park with mist fog during sunset time in Chiang mai, Thailand.
Adobe Stock/bannafarsai

Southeast Asia is one of the world’s most inexpensive places to live, but quality of life is not equally distributed across the region. A top choice for balancing a low cost of living with a high standard of life is Chiang Mai, a city in northern Thailand.

It’s known for its relaxed pace of life and high-quality infrastructure, including top-quality hospitals, restaurants, and shopping. A big expat community made up of people from all over the world bases itself here, including many digital nomads who take advantage of the opportunity to earn a strong currency while spending relatively weak Thai baht.

In the United States, the average Social Security payment is US$1,658 in 2022, but in Chiang Mai, about US$1,200 per month is enough for a nice lifestyle for two. This includes rent, which is very affordable in this city. A two-bedroom bungalow with a garden can be rented for about US$285 per month. For about US$710 per month, you can rent a three-bedroom villa with a pool.

In Chiang Mai, you can save greatly on transportation if using local options for getting around, like tuk tuks, baht buses, and taxis. Your monthly transport bill could be about US$10 per person. Compare that to US$624 per month, the mean amount Americans 65 and older spent on transportation in 2019. The same is true for food. Eating out may be more cost-effective than cooking your own food, with the average meal costing about US$3.

#3. Kyrenia, Northern Cyprus

Best Place To Retire In Kyrenia, Northern Cyprus
Adobe Stock/dudlajzov

Northern Cyprus offers the best of Mediterranean living for a fraction of the price of better-known destinations, like the south of France or coast of Spain. While still an off-the-radar choice for most Americans, it has a strong expat community mostly made up of Brits and other Europeans.

Here locals live to great ages because of the stress-free existence and healthy diet. There are great beaches to go along with near-perfect weather, with 340 days of sunshine per year. With great hospitals and high-quality care, medical tourism is a burgeoning industry.

Found where the Five Finger Mountains meet in the sea in northern Cyprus is Kyrenia, a quickly developing coastal city of about 46,000 people. It boasts seaside hotels, restaurants and cafés, and a charming old harbor and castle.

Here, a two-bedroom apartment with a communal pool can be rented for about US$590 per month. Cypriot food, a blend of Greek, Turkish, and Middle Eastern influences, is fantastically low cost as well, with the cost of restaurant meals ranging between US$3 to US$10.

Real estate is remarkably affordable in northern Cyprus as well. It can be as little as one-third the cost of similar property just over the border in the Republic of Cyprus. Condos in beach resorts with quality shared amenities start at well under US$100,000, which, if you’ve done any shopping for real estate in the United States lately, you’ll recognize as a world-class bargain.

Sincerely,
Kathleen Peddicord signature
Kathleen Peddicord
Founding Publisher, Overseas Opportunity Letter

Tags: 'Chiang Mai''retirement''Thailand'beat inflationChitréinflationKyreniaLive abroadlive overseasNorthern CyprusPanamaretire abroadretire overseas
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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has reported on opportunities for Americans to live, retire, and do business overseas for 40 years. She has traveled to more than 75 countries, invested in real estate in 24, established businesses in 7, renovated and built properties in 6, and educated her children in 5.

Kathleen has moved children, staff, enterprises, household goods, and pets from the east coast of the United States to Waterford, Ireland, then to Paris, France, and finally to Panama City, Panama, where she has based her Live And Invest Overseas business. Peddicord and her husband, Lief Simon, now divide their time between Panama and Paris.

Peddicord was a partner with Agora Publishing’s International Living group for 23 years. She opened, staffed, and operated International Living publishing and real estate marketing offices in Waterford, Ireland; Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France. Peddicord launched Live And Invest Overseas group in 2008 and has built it into a successful multimillion-dollar business. Today, she shares her firsthand experience of expat life with more than 500,000 readers of her publications, including Overseas Opportunity Letter and Overseas Living Letter.

Kathleen has been featured often in The New York Times, MSNBC, AARP, CNN, Bloomberg, CNBC, and more and writes monthly about expat matters, international real estate, and offshore diversification for Forbes and U.S. News.

Kathleen has written several books including the memoirs “At Home In Ireland” and “At Home At Los Islotes” and her latest title “At Home Abroad,” all published by Lahardan Books. Her best-selling "How To Retire Overseas: Everything You Need To Know To Live Well (For Less) Abroad” was published by Penguin Random House in 2018 and her “Buying Real Estate Overseas For Cash Flow (And A Better Life)” was published by Wiley in August 2020.

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To Live Overseas?

Super Cheap

  • Chitré, Panama
  • Santa Marta, Colombia
  • Phuket, Thailand
  • Dumaguete, The Philippines

Cheap

  • Medellin, Colombia
  • Boquete, Panama
  • Kyrenia, Cyprus
  • Hua Hin, Thailand
  • The Algarve, Portugal

Affordable

  • Valencia, Spain
  • Cascais, Portugal
  • Las Terrenas, The DR
  • Pisa, Italy
  • La Rochelle, France
  • Mazatlán, Mexico

Luxury

  • Ambergris Caye, Belize
  • Kotor, Montenegro
  • The Panama City Beaches
  • Paris, France

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Lahardan Books

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