Bolivia
As a retirement spot, Bolivia ticks all the boxes. Boasting some of the most beautiful scenery and landscapes in South America, Bolivia also has an extremely low cost of living. You can work on around $1000 per month being sufficient to maintain a reasonable standard of living. Apart from having to learn a bit of Spanish to be able to communicate with the locals, you will have found a great place to consider retiring even if your funds are lower than they could be. There are growing retirement communities around towns like La Paz, Torija and Santa Cruz to name but a few, whose members will be more than happy to help you settle in and show you the ropes. As it is always best to be aware of the benefits of health insurance, please note that Bolivia does not have public healthcare but the very low cost of living means that you will have funds available in your retirement kitty to consider private healthcare.
Bolivia
As an initial step, it is a good idea to consider embarking on an exploratory short trip to Bolivia to determine if this is the ideal retirement spot for you in the longer term. After all, when you have decided on your retirement locale, it is easy enough to get a “specific purpose visa” and take up residence. Do remember that you need to hand in documentation confirming your plans to retire here and proving that your finances will be sufficient to facilitate the move and maintain your cost of living in the future. A police check is also standard.
Belize
This country is ideal for retirees on a budget. Well known for its incredible beaches and nature, Belize is also cost-effective and would make for a peaceful retirement in beautiful surroundings. The local population speaks English and Spanish so there will be no language barriers. At an average rental of $700 per month, this country has very affordable accommodation available but it must be born in mind that there is a higher crime rate in areas such as Belize City and some of the more outlying areas so when looking for rentals, the area is important. There is one other point that must be taken into consideration and that is that if you need advanced health care at any stage in your retirement, you might have to travel to neighboring Mexico or Nicaragua who has better treatment options. The public health care system in Belize is not so advanced.
Belize
Before you can become a permanent resident, at a cost of $1000, it is required that you are in the country for at least 50 weeks. Make sure you have sufficient funds left in your combined retirement savings as you will need to transfer around $24000 annually into a Belize bank.
