5 Best Places to Retire If You Have No Savings

This article looks at the 5 best places to retire if you have no savings. If you want to check out our detailed analysis on why a wealth of experience is not enough and how your American dollars might be your gateway to a comfortable retirement, go to 15 Best Places to Retire If You Have No Savings.

5. Medellin, Colombia

Insider Monkey Score: 15

Medellin, Colombia, is quickly gaining recognition as the best place to retire if you have no savings, thanks to its remarkably affordable cost of living and inviting climate. In this city, retirees can enjoy a high-quality lifestyle on a budget, with monthly expenses of around $1,000 to $1,500. Medellin’s healthcare system is rated highly, offering services from English-speaking professionals at reasonable costs. Colombia’s straightforward visa requirements and favorable tax policies for foreign retirees make settling in even easier. The city’s eternal spring weather, lush green landscapes, and dynamic culture create a vibrant living environment. With its welcoming community and lively expat scene, Medellin offers an ideal mix of affordability, comfort, and cultural immersion for retirees looking to stretch their funds.