Many soon-to-be-seniors are looking at a significant lifestyle dip once they stop working. Those that haven’t saved a bundle may find a minimal fixed income hard to live on. However, there may be an option for those willing to be a little adventurous. There’s a growing legion of expat retirees who have relocated overseas to live out their golden years. It takes a lot of research, a dose of courage and a leap of faith (and probably some raised eyebrows from friends and family), but there are enticing retirement destinations around the world where your money will stretch a lot further than back home. They also provide a comfortable living standard, decent health care, relative safety and a solid infrastructure. You may think there’s no place like home, but open your mind and check out these 10 temptingly affordable places to retire abroad.
1. Budapest, Hungary
If you crave culture, cuisine and an urban-Bohemian vibe, consider retiring in Budapest. This grand city on the Danube is full of classical architecture, fine art, good food and the romance of old Europe. Expect to cut your expenses in half compared to cities in North America, Australia or Western Europe. You can live quite comfortably on just $11,000 a year, less if you’re more frugal or choose to live outside of the city center. If you really want to settle in, foreigners are free to buy property here. Medical and dental care is excellent, and the city has efficient public transit. You won’t be disappointed spending your days in Hungary’s sophisticated capital.