Many people seek to retire and look for a relaxed lifestyle in the Caribbean as it's known to offer one of the most affordable lifestyles around, costing as low as $24k per year in some regions.
Some of the most affordable places to retire are considered to be Chiang Mai, Thailand, Mazatlan, Mexico, Da Lat, Vietnam, Popoli, Italy, and Puerto Plata, Dominican Republic.
For Jamaica, it's regarded to be one of the best regions to retire in the Caribbean, with an average cost of living said to be less than $1k per month, depending on your living arrangements and needs. But for a region that's arguably much safer than many others, and provides great weather and landscape, beaches, tourist activity, transportation options, and commerce availability etc, it's an appealing region to consider.
Rather than struggle to be comfortable at home, many people still look to live the expat lifestyle elsewhere in areas that will allow them to live on a more flexible budget and modest income. Whether it be Portugal, Turkey, Mexico, Jamaica, Malaysia, or some other region, there are many benefits to transitioning to a cheaper way of living in another region of the world, even though the thought of it might be intimidating at first.
Though there might be many greener pastures to be found elsewhere, data shows that retirees overwhelmingly today are staying put right where they are.
15% of Americans are at risk of retiring with nothing.
Perhaps then, more will be looking to move to explore other regions, to live in areas that are going to enable them to get more for their dollar.
For now, many Americans report feeling as if they are behind on saving for retirement, but with the new year coming around soon though many have already vowed to make that change, with getting finances in order being one of the more popular New Years resolutions to opt for.