Most Americans tend to quit their corporate job in their home country, despite the big salaries they have. The reason? It's because their salaries offset their expensive cost of living. This forces most Americans to quit their job and move abroad or retire overseas.
They claim it only cost them less than $1,500/month to live a languish life! Let us uncover these beautiful yet affordable countries most Americans move into.
The Study
According to the State Department, around 8.7 million Americans are moving abroad or overseas due to the lower cost of living in other countries.
According to the recent study conducted by International Living, an American couple can live on an annual budget of $30,000 or approximately 2,500 per month in these countries. Aside from that, your costs can become cheaper if you're single.
Take Cambodia, for example. You can already live a comfortable life for just $1,150 per month. Even the most expensive place on their list, which spans from Europe, Southeast Asia, until Latin America, enable you to live with just $1,500 a month for a single person. Here are the following countries you should take into consideration if you plan on moving soon.
Cambodia
For the past three years, Cambodia has been consistent in claiming the top spot when it comes to the cost-of-living category in the Annual Global Retirement Index. While the only downside in living in this country is that it's so far away from the United States, your wallet will surely thank you for its cost of living. The cost of one-bedroom and bathroom rental apartment in Phnom Penh costs around $250 per month.
The utility bills usually cost around $80-$100 per month, depending on your usage and lifestyle according to Stevens. Fancy eating in a high-end restaurant? Indulge yourself in a treat for only $10 per meal! With just $200 a month, you can already fill your fridge full of fresh fruits, foods, and vegetables! A single person can live comfortably in Cambodia for just $1,150 per month, while a couple can live on a budget of $2,000.
Panama
This country also draws in a thriving international business community because of its attractive cities, lower cost of living, and beautiful and stunning beaches. Most of Panama is also English speakers so adapting to this country makes it easier for the Americans. According to Stevens, you can already have a fulfilling lunch at just $3-$7 per person. Or have that fancy dinner for only $6-$12. Want to have some booze?
Their bear only cost around $1-$2 per bottle. Want to have a car but worrying about its expensive car insurance? You don't have to worry anymore in Panama. The car insurance will only cost you about $600 a year! Want to hire a housekeeper to clean your house while you go to work? You can hire one for only $15 for half a day! Want some handymen to repair your house? Hire one for only $5 per hour. A single person can already live a modest life on a $1,391 budget in Pedasi, while a couple can live on a $1,700 per month.
According to Stevens, Costa Rica tops their list as a safe, beautiful, and good-value country that offers a variety of lifestyles and climates which makes it the perfect place to retire.
Costa Rica
Costa Rica prides itself on having an evergreen environment with eco-friendly buildings, warm and welcoming locals which serve as a perfect haven for Americans. What's great about Costa Rica is that it offers safe residential communities, great die-in restaurants, excellent medical and health care facilities (for an affordable price), and plenty of natural wonders like forests, rivers, waterfalls, and exotic volcanoes. A single person can already live here for $1,500 a month.
You can retire in Costa Rica's Central Valley or even some of its most popular towns like Atenas, Grecia, Ciudad, Colon, San Ramon, Escazu, Santa Ana, and Puriscal. If you prefer living in the capital, you can move into San Jose with ease.