12 countries you can live on Social Security alone

( NewsNation ) — For many Americans, relying solely on their Social Security benefits in retirement can feel daunting.

With the average monthly check around $1,903, it’s challenging to maintain a comfortable lifestyle in the U.S., where the average retiree household spends about $50,000 per year, according to International Living.

However, for retirees willing to look beyond U.S. borders, there are numerous countries where the cost of living is low enough to live well on Social Security alone.

Using data from sources like International Living and Numbeo and talking to finance experts, GOBankingRates and U.S. News identified the best destinations for seniors seeking an affordable, high-quality retirement.

Alicante, Spain

Spain’s sunny seaside city of Alicante offers retirees a high quality of life on a modest Social Security budget. Couples can live comfortably there for less than $2,400 per month, which covers a furnished one- or two-bedroom apartment, maid service, health care and other expenses.

Spain has the lowest cost of living in Western Europe, making it an attractive destination for Americans living on their government benefits.

Costa Rica

With its tropical climate, universal health care system and low cost of living, Costa Rica is a popular retirement spot for Americans on Social Security.

Some couples can live well in the country on just $2,000 per month, while others may need up to $3,000.

Boquete, Panama

Tucked away in the mountains of Panama, the small city of Boquete draws many American retirees seeking peace, quiet and natural beauty.

Couples can live comfortably there on around $2,600 per month, taking advantage of the country’s pensionado program that provides discounts on expenses like health care and entertainment.

Chiang Mai, Thailand

In Northern Thailand, the city of Chiang Mai offers retirees an affordable, high-quality lifestyle.

A couple can enjoy an easy life there for under $2,000 per month, surrounded by bustling markets, diverse cuisine and stunning natural scenery. Thailand’s cost of living is about half that of the U.S.

Cuenca, Ecuador

Lodged in the Andes Mountains, the colonial city of Cuenca appeals to American retirees with its moderate climate, great health care and low cost of living. A couple can get by on just $2,000 per month in Cuenca, where the overall cost of living is extremely affordable.

Kalamata, Greece

On Greece’s Mediterranean coast, the city of Kalamata provides retirees with a pleasant climate, a wealth of cultural attractions and a monthly budget of around $2,000 for a couple. The country’s cost of living is 31% lower on average than the U.S., making it an appealing option for those living on Social Security.

Las Terrenas, Dominican Republic

Retirees seeking a tropical setting close to the U.S. may find their paradise in Las Terrenas, a coastal town in the Dominican Republic. With its warm climate, sandy beaches and low cost of living, the area draws American expats who can live comfortably on a $2,500 monthly budget.

Lisbon, Portugal

As Portugal’s historic capital, Lisbon offers retirees plenty of sunshine and easy access to Europe’s best beaches. A couple can live in Lisbon for around $2,100 to $2,200 per month, taking advantage of the country’s lower living costs.

The country offers a relocation and retirement program even though it has ended some popular tax breaks for foreigners.

Medellín, Colombia

Once known for its instability, Medellín has transformed into one of South America’s most alluring cities for American retirees. Couples can live there for less than $1,700 per month, enjoying the springlike climate, outdoor recreation and vibrant culture.

Colombia provides the amenities and infrastructure of a high-cost-of-living country at a low cost.

Penang, Malaysia

The tropical island of Penang, a former British colony, draws expats with its diverse cuisine, English-speaking population and affordable cost of living. Couples can get by on less than $1,500 per month in this top destination for American retirees.

San Miguel de Allende, Mexico

This artistic spot in central Mexico offers retirees cobblestone streets, artisan markets and a thriving expat community, all on a modest Social Security budget. Couples can live comfortably in San Miguel de Allende for less than $2,000 per month.

Italy

While the major tourist hubs of Italy can be pricey, retirees who venture outside cities like Rome, Venice and Milan will find their Social Security checks stretch much further. Couples can enjoy a high quality of life in Italy for around $2,645 per month on average.

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