3 Secret Affordable Retirement Spots

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Many seniors look forward to the day they can retire and while everyone has their own plans, there’s generally two types of retirees: those who want to stay at home and those who want to move somewhere new. If you’re looking to set sail and travel somewhere else to enjoy your retirement, here are a few secret places around the world that make for the perfect retirement get away.

Algarve, Portugal

In terms of overseas retirement, it doesn’t get much better than Algarve, a coastal city in Portugal. There are already over 100,000 retired American expatriates living in the city, and the region’s close historic ties to England mean you can get by without a second language under your belt. Real estate and healthcare are both up to international standards of quality, yet to live in Algarve is an average of 30% cheaper than the rest of Western Europe. For $1500-2000 a month, you can live a fully appointed European lifestyle.

Belize City, Belize

If you’re looking for a wholly new life in your retirement, look no further then Belize. This Central American country has become somewhat of a cultural melting pot, bringing in people from the Caribbean, England, the US, and more. It’s one of the easiest places in the world to establish residency, and you could even start a business. The nation is certainly developing, so there’s a lack of government oversight which some will love and which some might find unsettling. If you choose to migrate to Belize, be ready to pay a premium for imported luxuries from home, and make sure you’re able to live without Internet if necessary.

Pittsburgh, PA, USA

If you’re looking for an affordable, culturally vibrant city but want to stay in the United States, Pittsburgh is an option that might surprise you. Though it’s Pennsylvania’s second largest city, you’d never guess that when you visit. Tucked between the Allegheny and the Monongahela, the “Steel City” is currently experiencing a cultural and architectural blossoming. Purchasing real estate here could be a timely investment. Over a dozen Fortune 1000 companies have headquarters in Pittsburg, for those who might want to keep working. Just make sure you bring your parka and snow boots for the winter months.

No matter where your dreams of a cozy retirement have you headed, it’s no secret that it’s going to take a sizeable retirement fund to get you there. If you’re looking to increase your retirement funds, you might want to consider selling an unwanted or unneeded life insurance policy through a life settlement. A life settlement will be able to provide you with a larger upfront sum of cash than your policy’s surrender value, which means you can enjoy the relaxing retirement away from home that you’ve always wanted. Check out our calculator to see how much you qualify for, and start planning the golden years you’ve always imagined.

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