Editor’s note: This is a transcript of the audio file.
Low taxes and warm weather used to be enough to attract retirees.
But thousands of today’s retirees are migrating to Asia, South America and Europe to stretch their retirement dollars. I’m Janet Stauble with your Bankrate.com Personal Finance Minute.
For under $2,000 a month, you can live like a king in Chiang Mai, Thailand. Going out to eat everyday would cost just $100 a month. Western-style restaurants, entertainment and modern hospitals abound.
Want something more familiar? As a U.S. territory, Guam is a place where English is spoken and the currency is the dollar. Medicare can even cover your health costs. One-bedroom apartments can go for as low as $400 a month, with luxury units costing about a thousand.
Love Spanish culture? Consider Valencia. Spain offers free public health coverage, and groceries sold in open-air markets are similar to prices at American supermarkets. The housing bust caused home prices to plummet, and property taxes are low.
Want to find other places to retire? Log onto Bankrate.com. I’m Janet Stauble.