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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

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    Follow Us:

    • Meet Our Experts
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    • 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
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    PANAMA CITY, PANAMA

    Oct. 15-17, 2025

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Home Retirement/Living

Where Are The Cheapest Places In The World

Where And How To Retire Rich

by Paul Terhorst
Apr 09, 2021
in Retirement/Living
0 0
Kota Kinabalu, Malaysia

Alamy/ARV

You’re living rich. Congratulations.

In the past, being rich meant spending a lot of money. But then came low-cost jet travel, ATMs, satellite TV, computers, Skype, and iPads. Millions of expats suddenly were able to move to places where they could live better and have more fun, sometimes way more fun, with the money they already had.

In some countries you can live rich just on your Social Security benefits.

I figure we need an up-to-date definition of rich, and here it is:

If you live well within your means, you’re rich. If you spend more than you have, no matter how much you have, you’re poor.

Note that living rich has to do with how you spend money, rather than how much money you have. To live well within your means implies adaptability, the ability to change or modify the what, where, and how of your lifestyle.

Your ability to adapt might allow you to do something you never had thought possible.

Living Rich In Paris

River Seine and Eiffel Tower in Paris, France.
Alamy/Givaga

In the late 1990s, someone wrote to us and explained how we could live in Paris for little money. Wow! We had always thought Paris would be way too expensive. Six months later we flew to Paris and settled into a cozy, furnished, fifth-story walk-up in Montmartre that cost us around US$600 a month.

Later Montmartre became trendy. But, when we lived there, Montmartre seemed little changed from when Van Gogh and Picasso painted there. We lived full-out in Paris for one-and-a-half years. Later we continued with shorter stays, balancing the ever-increasing cost of living in Paris with longer stints in cheaper Thailand.

We had to adapt. Our building had no elevator, and those five flights of stairs tired us out. We had to wash clothes at a laundromat. We learned to live with a bathroom so small that the entire bathroom was the shower stall. We had a closet-sized kitchen with only a small fridge, hotplate, and toaster. We had no TV and dial-up Internet. Yet we barely noticed what we lacked. Instead, as we saw it, we lived rich, overjoyed with the window of opportunity that allowed us to live in the City of Light.

Living Rich In Argentina

A view of the majestic vineyards and mountains famous to Argentina.Some time later, Vicki and I had a house in Argentina. At the time, the dollar cost of living in Argentina was doubling every three years or so. So we adapted. We took fewer taxis and ate out less.

And we began spending more time elsewhere—in Thailand, China, and other lower cost countries.

How You Can Live Rich

I figure that, if you’re reading this, you are already, or you soon will be, living rich simply because you have a passport. A passport enables you to live and travel abroad, thus giving you numerous options and opportunities to live rich.

You’re among the few. Only some 40% of Americans have passports, and most of them use their passports to go only to Canada or Mexico.

So you have a passport. This means you can take advantage of the flexibility that comes with it. Can’t afford an extended stay in Seattle? Try Nha Trang, Vietnam. Can’t afford to be a snowbird in Miami? Try Hua Hin, Thailand. Can’t afford the eternal springtime of San Diego? Try Chapala, Mexico.

To live rich you simply move to where your most important needs can be met at a cost you can afford. And you expand your comfort zone.

Coming Out Of Your Comfort Zone

Vicki and I have French friends who never travel overseas. They suppose that if they travel they might find themselves among people who don’t speak French. We have American friends who travel only to countries where English is spoken. Vicki and I have traveled all over the world, and I’d certainly agree that speaking the local language makes traveling easier, more comfortable.

When we travel to countries where we don’t speak the language, we become more creative, courageous, and dynamic. We enjoy an intensity that comes only when we’re out of our comfort zones.

We all have our comfort zones, and some people refuse to budge out of them. Recently we were told of young Canadians who visited expat relatives in Portugal. The guests from Canada arrived and installed themselves in the living room with TV, Wi-Fi, DVDs, and computers. They spent their entire two weeks in Portugal doing exactly what they’d have done if they’d stayed home, that is, they played DVDs and video games.

Our French friends, American friends, and the young Canadian visitors have trouble getting out of their comfort zones. They lack the flexibility it takes to live overseas. This lack keeps them from living rich.

You Have What It Takes

You do have that flexibility, an adaptability that nurtures an ever-expanding comfort zone. You’ve traveled, you’ve lived overseas, or at least you’re thinking about it. You have a sense of adventure.

You realize there’s more to life than DVDs. If you meet someone who speaks a different language, you learn tricks to get around the problem. You’d be amazed at how much can be accomplished with just a calculator. And a genuine smile.

Go back to my definition. If you live well within your means, you’re living rich. In most cases, by retirement age, our means have been set up. Often, our means are fixed and may look like too little for a comfortable lifestyle.

Yet, we can do a very great deal about living well within those means. We can move from high-cost countries to low-cost ones. If we’re already in a low-cost country we can move from a high-cost rental to a lower-cost rental.

Adaptability enables us to live rich, especially when we stay focused on the overall picture, focused on what matters most to us.

You’re living rich, in the sense that you have so much more flexibility than the other guy. If need be, you can move to a cheaper country, get health care abroad, and live on less.

Congratulations. Your adaptability might be even better than money. After all, money can go away. Adaptability stays with you as long as you can expand your comfort zone.

Paul Terhorst
Perpetual Traveler

Tags: 'Retire Rich'expatslive overseaslive richmove overseasretire abroadretire overseas
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Paul Terhorst

Paul Terhorst

Paul Terhorst and his wife, Vicki, retired young and can now be found traveling the globe. These perpetual travelers have been everywhere from Chiang Mai, Thailand to Paris, France, and beyond. Paul regularly writes for the retirement and investing publications of Live and Invest Overseas.

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Top Countries

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Best For:

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BROWSE ALL COUNTRIES

Budgets

How Much Will It Cost
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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