35 Countries Where Your Social Security Check Goes Furthest

[xray]

35 Countries Where Your Social Security Check Goes Furthest
Your Social Security benefits last a lot longer in these places.
By Joel Anderson Jul 7, 2020 Social Security 101

When it’s time to retire, you may find your Social Security benefits don’t go as far as you need them to. If you haven’t saved enough to continue to live the lifestyle you want in the U.S. — and many Americans haven’t — there are other places you can go.

In the United States, the average Social Security check of $1,390.12 a month barely covers the average cost of living of $1,238.80. GOBankingRates looked at the cost of living around the world, including housing, utilities, groceries and transportation, to determine where your Social Security check will go the furthest. The study also only considered countries that ranked highly on the Institute for Economics & Peace's global peacefulness index, which takes into account a country's general level of peace and safety.

These are the best places to retire in the world -- ranked from good to best -- if you want your Social Security check to go as far as possible.

Retire Comfortably
South Korea
Rent: $483.91
Groceries: $494.62
Utilities: $143.65
Transportation: $45.44
Total monthly expenditures: $1,167.62
Money left over: $222.51

Italy
Rent: $614.55
Groceries: $307.41
Utilities: $176.84
Transportation: $39.42
Total monthly expenditures: $1,138.22
Money left over: $251.90

Spain
Rent: $676.18
Groceries: $229.72
Utilities: $132.55
Transportation: $46.17
Total monthly expenditures: $1,084.62
Money left over: $305.50

Panama
Rent: $679.20
Groceries: $276.35
Utilities: $89.52
Transportation: $20.00
Total monthly expenditures: $1,065.07
Money left over: $325.06

Kuwait
Rent: $783.95
Groceries: $183.02
Utilities: $40.62
Transportation: $40.60
Total monthly expenditures: $1,048.19
Money left over: $341.93

Cyprus
Rent: $587.75
Groceries: $239.52
Utilities: $144.34
Transportation: $45.05
Total monthly expenditures: $1,016.66
Money left over: $373.46

Slovenia
Rent: $491.54
Groceries: $240.27
Utilities: $223.65
Transportation: $41.67
Total monthly expenditures: $997.13
Money left over: $393.00

Portugal
Rent: $611.94
Groceries: $195.61
Utilities: $112.41
Transportation: $43.87
Total monthly expenditures: $963.83
Money left over: $426.30

Czech Republic
Rent: $556.98
Groceries: $198.72
Utilities: $183.14
Transportation: $21.99
Total monthly expenditures: $960.83
Money left over: $429.29

Slovakia
Rent: $490.68
Groceries: $209.35
Utilities: $195.71
Transportation: $29.28
Total monthly expenditures: $925.02
Money left over: $465.10

Taiwan
Rent: $398.06
Groceries: $392.60
Utilities: $72.60
Transportation: $43.26
Total monthly expenditures: $906.52
Money left over: $483.60

Croatia
Rent: $406.74
Groceries: $259.43
Utilities: $184.75
Transportation: $53.17
Total monthly expenditures: $904.09
Money left over: $486.03

Estonia
Rent: $451.76
Groceries: $193.83
Utilities: $195.32
Transportation: $25.90
Total monthly expenditures: $866.81
Money left over: $523.32

Poland
Rent: $469.21
Groceries: $154.52
Utilities: $174.33
Transportation: $25.35
Total monthly expenditures: $823.41
Money left over: $566.71

Costa Rica
Rent: $437.86
Groceries: $250.36
Utilities: $72.91
Transportation: $50.00
Total monthly expenditures: $811.13
Money left over: $579.00

Latvia
Rent: $358.29
Groceries: $186.64
Utilities: $199.06
Transportation: $56.31
Total monthly expenditures: $800.30
Money left over: $589.82

Oman
Rent: $474.61
Groceries: $206.79
Utilities: $58.51
Transportation: $38.96
Total monthly expenditures: $778.87
Money left over: $611.26

Greece
Rent: $345.17
Groceries: $219.06
Utilities: $169.79
Transportation: $33.79
Total monthly expenditures: $767.81
Money left over: $622.31

Lithuania
Rent: $414.64
Groceries: $171.44
Utilities: $144.87
Transportation: $32.66
Total monthly expenditures: $763.61
Money left over: $626.52

Chile
Rent: $383.23
Groceries: $180.14
Utilities: $118.45
Transportation: $51.95
Total monthly expenditures: $733.77
Money left over: $656.35

Hungary
Rent: $367.66
Groceries: $159.92
Utilities: $161.90
Transportation: $30.82
Total monthly expenditures: $720.30
Money left over: $669.82

Uruguay
Rent: $378.23
Groceries: $188.28
Utilities: $106.41
Transportation: $36.05
Total monthly expenditures: $708.97
Money left over: $681.16

Vietnam
Rent: $348.16
Groceries: $201.24
Utilities: $65.17
Transportation: $7.79
Total monthly expenditures: $622.36
Money left over: $767.76

Montenegro
Rent: $297.26
Groceries: $149.04
Utilities: $113.05
Transportation: $31.53
Total monthly expenditures: $590.88
Money left over: $799.25

Ecuador
Rent: $342.14
Groceries: $162.61
Utilities: $47.97
Transportation: $25.00
Total monthly expenditures: $577.72
Money left over: $812.40

Romania
Rent: $293.27
Groceries: $151.77
Utilities: $109.25
Transportation: $16.28
Total monthly expenditures: $570.57
Money left over: $819.56

Bulgaria
Rent: $266.55
Groceries: $166.59
Utilities: $107.11
Transportation: $28.78
Total monthly expenditures: $569.03
Money left over: $821.10

Serbia
Rent: $252.95
Groceries: $138.29
Utilities: $147.70
Transportation: $28.74
Total monthly expenditures: $567.68
Money left over: $822.44

Malaysia
Rent: $286.92
Groceries: $179.19
Utilities: $47.23
Transportation: $23.39
Total monthly expenditures: $536.73
Money left over: $853.40

Indonesia
Rent: $240.53
Groceries: $186.43
Utilities: $75.30
Transportation: $14.07
Total monthly expenditures: $516.33
Money left over: $873.79

Albania
Rent: $232.18
Groceries: $152.71
Utilities: $75.63
Transportation: $14.52
Total monthly expenditures: $475.04
Money left over: $915.09

Kazakhstan
Rent: $261.02
Groceries: $137.89
Utilities: $51.06
Transportation: $16.21
Total monthly expenditures: $466.18
Money left over: $923.95

North Macedonia
Rent: $176.23
Groceries: $138.19
Utilities: $109.78
Transportation: $25.60
Total monthly expenditures: $449.80
Money left over: $940.32

Sri Lanka
Rent: $198.50
Groceries: $166.24
Utilities: $44.78
Transportation: $5.36
Total monthly expenditures: $414.88
Money left over: $975.25

Argentina
Rent: $203.76
Groceries: $127.66
Utilities: $64.62
Transportation: $14.30
Total monthly expenditures: $410.34
Money left over: $979.79

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Live Long and Prosper....

[Deleted]

How easy or hard is to retire to one of the European countries if one does not have any base there ie, only visited there as a tourist before retirement.

How does medical care, language and visa work in European country for retired US citizen?

[xray]

@waffle ,
Your:
How easy or hard is to retire to one of the European countries if one does not have any base there ie, only visited there as a tourist before retirement.
How does medical care, language and visa work in European country for retired US citizen?

 Not easy unless your prepared for "Culture Shock" IMHO. What the articles don't talk about [for instance] is the language barriers, and the dollar conversions to local currency. Add to this that Medicare is not accepted by foreign countries [fly back to the states for something serious]. If going to one of the countries shown, one would have to be somewhat fluent in their language unless living in a American type portion of the country....

 Having lived in Chile, Costa Rica, Argentina, Paraguay and [Naples] Italy for a number of years, I can assure you that one would have to be prepared for the political changes, security issues, and the different cultures....

Live Long and Prosper....

----------

 Should add that your car would be another issue in many countries in getting the proper paper work [if shipping from/to the states] and the "COST"....

Live Long and Prosper....

[yogibearbull]

Medicare doesn't provide foreign coverage except in very rare situations. www.medicare.gov/Pubs/pdf/11037-Medicare-Coverage-Outside-United-States.pdf

[xray]

yogibearbull,
Your:
Medicare doesn't provide foreign coverage except...

----------

 It might have changed, but I had a medical issue in 1998 that couldn't be resolved in Costa Rica and had to come back to Washington/Florida to get it resolved. Most foreign countries don't have the medical expertise or medications that we have [IMHO]. Costa Rica had four Hospitals [at that time] and you would not want to be in three of them....

Live Long and Prosper....

[steelpony10]

           I choose Vietnam. Try to find some old pals.

[Chahta]

Portugal. I have a Portuguese friend that has a house in CA too and will back up it’s a great place to live.

[Capital]

Well I choose Tennessee. That's foreign enough for me. 

[uncleharley]

Oct 27, 2021 10:27:37 GMT Capital said:

Well I choose Tennessee. That's foreign enough for me. 

S D for me.

[Chahta]

Hopefully those Nashville politicians keep their heads on straight and don't get greedy to push for an income tax or other tax. It must be tempting with all those rich folk in town. I realize they just ended the Hall tax.

[saratoga]

Apartments are much more expensive in Seoul than in Tokyo and almost as expensive as in the Bay Area! I also see on the list: Taiwan Rent: $398.06!! Tokyo is a good place if you can manage to get a residency status (difficult) and if you are willing to face the constant threat of natural disasters. But you won't be happy living in Tokyo on a SS budget. You might be able to rent a small studio at a satellite city of Tokyo for about $600/month. Some Japanese pensioners move to Philippines or Malaysia to stretch their yens. Vietnam is a good bet if you do not expect any major health concerns.  

[bf22]

I have dual citizenship (swiss/US).  Whenever I think things are getting expensive here in the US, I just go back to CH to make me feel better...

[chang]

We are planning a relocation to Spain next year. Cost of living is quite attractive relative to the rest of Europe. Portugal would be better still, but we have family connections in Spain. Alas, we are homing in on Catalunya, the most expensive part of Spain. There are plenty of locations in the central part of the country which are bleeding population, where you can almost buy a whole town for a pittance.

[chang]

Oct 31, 2021 20:44:28 GMT bf22 said:

I have dual citizenship (swiss/US).  Whenever I think things are getting expensive here in the US, I just go back to CH to make me feel better...

For family reasons, our logical retirement destination could be Switzerland or Spain. For meteorological reasons, I would only consider Ticino in CH. And you wouldn't have to twist my arm too hard to convince me to settle rather comfortably in a nice villa in Ascona overlooking the lake. But the cost of housing (and everything else) is stratospheric in Ticino. So it looks like Spain it is.

[bf22]

Nov 1, 2021 9:40:42 GMT chang said:

Oct 31, 2021 20:44:28 GMT bf22 said:

I have dual citizenship (swiss/US).  Whenever I think things are getting expensive here in the US, I just go back to CH to make me feel better...

For family reasons, our logical retirement destination could be Switzerland or Spain. For meteorological reasons, I would only consider Ticino in CH. And you wouldn't have to twist my arm too hard to convince me to settle rather comfortably in a nice villa in Ascona overlooking the lake. But the cost of housing (and everything else) is stratospheric in Ticino. So it looks like Spain it is.

I understand.  Spain is very nice.  I've spent some time around Tarragona in Catalonia.

I'm from Zug (CH), but my mother is from the Ticino. 

Ascona is great (so is Lugano, my favorite), but for example restaurant food is about twice as much as in Stresa (same lake, Italy).

Good luck...

[chang]

Nov 1, 2021 19:39:42 GMT bf22 said:

Nov 1, 2021 9:40:42 GMT chang said:

For family reasons, our logical retirement destination could be Switzerland or Spain. For meteorological reasons, I would only consider Ticino in CH. And you wouldn't have to twist my arm too hard to convince me to settle rather comfortably in a nice villa in Ascona overlooking the lake. But the cost of housing (and everything else) is stratospheric in Ticino. So it looks like Spain it is.

I understand.  Spain is very nice.  I've spent some time around Tarragona in Catalonia.

I'm from Zug (CH), but my mother is from the Ticino. 

Ascona is great (so is Lugano, my favorite), but for example restaurant food is about twice as much as in Stresa (same lake, Italy).

Good luck...

A former colleague (who lives in ZH) owns a small apartment in Brissago. We drove just a few miles further across the border to Cannero Riviera. Amazing how much cheaper the restaurants and hotels were! Probably 40-50% cheaper than CH. The other thing I noticed was the paint on the buildings. All the buildings in Switzerland are various shades of grey, some a little lighter and some a little darker. As soon as we crossed into Italy, the buildings became red, green, blue, yellow, purple... 

[anovice]

Nov 1, 2021 9:40:42 GMT chang said:

Oct 31, 2021 20:44:28 GMT bf22 said:

I have dual citizenship (swiss/US).  Whenever I think things are getting expensive here in the US, I just go back to CH to make me feel better...

For family reasons, our logical retirement destination could be Switzerland or Spain. For meteorological reasons, I would only consider Ticino in CH. And you wouldn't have to twist my arm too hard to convince me to settle rather comfortably in a nice villa in Ascona overlooking the lake. But the cost of housing (and everything else) is stratospheric in Ticino. So it looks like Spain it is.

I admire how you seemingly view moving 6,000 miles, like you are going down the street for Som Tum. I have wanted to move for the past 5 years and every time I think about it, I shut down.

Good for you!