Retiring overseas on a budget
Retiring on a tight budget is not so rare, on the contrary, it is very common for this to happen.
Now. Assuming this is the norm retiring abroad on a budget is very common, we can do some happy math and assume that the average retiree receives $ 2,200 total monthly in retirement. With this money in North America life becomes complicated in many ways … Insurance, taxes, health coverage. All of these things can make it more convenient to retire elsewhere.
It is much more practical and financially smart to retire abroad. and the financial part is very important and very weighty when thinking about this.
Retirement in Medellín is extremely cheap and is so cheap that it is possible to live this city with a medium-high life expectancy with only 2 thousand dollars a month.
If we do a quick calculation of 2 thousand dollars a month. With a price per dollar of 3 thousand pesos (currently it is an average of 3,500 pesos per dollar) this gives us 6 million pesos. i
Now … let me explain, 6 million pesos in Colombia is a very good salary, an excellent salary, with this money you can live in almost any neighborhood in the city and I’m talking about good neighborhoods, beautiful apartments.