5 Cheapest Countries for Retirement

In this article, we take a look at the 5 cheapest countries for retirement. If you want to check out more countries, go directly to the 15 Cheapest Countries for Retirement.

5. South Africa

Cost of Living Index: 37.8

Boasting a purchasing power 26.9% higher than the United States, South Africa is one of the cheapest countries to retire to. The rent is 87.5% cheaper, groceries 71% cheaper, and local goods and services 65.8% cheaper. Other factors that make South Africa a promising retirement option are an English-speaking expat community, favorable exchange rates, and a mild climate. There is no specific age for retiring to the country. Overseas pension schemes are not taxed by the government either. However, retirees must oversee health insurance programs before retiring to the country.