We are a retired couple from Dallas – can we afford to live abroad on Social Security alone?

Retirement is the time for Americans to live the life they’ve dreamed of – or at least what’s affordable – and that can sometimes mean leaving the US behind. Imagine trading city views and high prices for stunning scenery and a lower cost of living.

Is it possible to live a life like this on Social Security alone? Most U.S. citizens are eligible for Social Security payments if they live outside the country.

Let’s say you’re a retired couple living in the heart of Texas who receive a combined $50,000 a year in retirement benefits – a little more than the average monthly check of $1,924.35 per retiree in October – and you want a similar one Maintain Standard Living in Dallas as best as possible on a budget of $6,500.

Here are five destinations that offer beauty, affordability and the potential to live on retirement savings alone. All price comparisons were calculated using the cost of living database Numbeo and include rental costs.

Portugal offers Europe without the typical high price tag. For example, if we live in the northwest coastal city of Porto, our couple would have to pay about $4,000 per month to live in a place known for its beaches, wineries, and cobblestone streets. Portugal is also ranked 7th in the Institute for Economics & Peace’s 2024 Global Peace Index. Groceries and dining out are far cheaper than in the USA. Portugal also has private and public healthcare. However, if you plan to use public assistance, make sure you qualify as a visa holder.

Mexico has long been a popular travel destination for Americans. It’s warm, lively and close to home. Mexico City would cost our couple about $3,500 a month, leaving them some wiggle room. Retirees can enjoy housing, food and healthcare at a fraction of the US cost.

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Malaysia is known for its sandy beaches and lush rainforests, and the Southeast Asian country won’t break the bank of retirees. If our couple is feeling adventurous, the capital city of Kuala Lumpur is worth living in for less than $2,700 a month. A majority of the population speaks English, which can be helpful when you first arrive. According to International Living, Malaysia also offers world-class healthcare at an affordable price and is ranked 10th in the Global Peace Index.

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