Retire in Ecuador...to the land of eternal spring for under $900 a month. This is your best choice for a cheap retirement location in a fantastic setting.
With an average temperature of seventy-five degrees, Ecuador boasts the best of all worlds.
Here, you will discover beautiful tranquil beaches, lush tropical rain forests, and the snow-capped mountains of the Andes. Not bad for a budget retirement.
CHEAPEST PLACES TO RETIRE
It is no secret that Ecuador is one of the cheapest places to retire overseas. What you may not know is that it is one of the most picturesque.
For under $900 you can retire in Ecuador and afford a much richer lifestyle than you would back home. Of course, depending on your spending habits, you could spend much less.
All of the amenities are available such as cable, cell phones, medical care, fine restaurants, nightclubs and supermarkets.
And Ecuador uses the U.S. dollar as currency, so there is no need to worry about fluctuating dollar rates. This makes Ecuador one of our top choices for a budget retirement location.
If you plan to retire overseas, it is essential to be prepared. Many headaches can be avoided by planning ahead. Use the following retirement tips to make your journey an easy one.
Utilities and Monthly Expenses
Your monthly expenses are much more affordable when you live or retire in Ecuador. Taxes are minimal. Cable is less than $30, bus service is a quarter, a taxi is about $3. Full-time household help runs about $30 a week. Electricity averages about $15 per month and monthly usage of propane is about $10.
Rent and Cost of Meals
A gourmet meal for two, including dessert and drinks costs about $20. Weekly grocery bills for two is less than $70.
Overlooking the Andes, you can rent a two-bedroom apartment for under $250 a month. This is much cheaper than most budget retirement locations. And the breathtaking view is free. In the capital of Quito, rent is about $400. Expect to pay a bit more for the perk of living on the coast.
Short term rentals are usually furnished as opposed to long-term rentals. Although this is always negotiable.
Health Care in Ecuador
The private hospitals and physician are first-rate. The top three are Mount Sinai, Santa Inez, and the newer University Hospital. A specialist charges less than $30 for a 45-minute visit.
It is best to apply for an international insurance policy when you retire in Ecuador. This will cover health care overseas when traveling and for true emergencies.
Stick to paying out of pocket for regular medical occurrences since the cost is so affordable. When searching for a cheap retirement location, always research possible medical expenses.
A tourist visa is easy to obtain here and lasts for 90 days. It can then be extended for 180 days.
A tourist visa is your best place to start when retiring in Ecuador.
Obtaining a Retiree Visa
Establishing residency in Ecuador is actually very simple. Make sure you have at least 30 days remaining on your tourist visa.
Other options for showing $800 in proof of income in Ecuador:
How to Choose a Retirement Location
Choosing a retirement location should be simple and straightforward. Create detailed budgets and know the basics when retiring overseas with these easy-to-follow tips. As always, preparation is essential to get the most for your money.
Investing During Retirement
Always look for retirement places where tourists are regular visitors. Unless a secluded spot for yourself is what you desire.
When investing during retirement search for a stable government and signs of foreign investment. Find out more about these and other strategies here.
Retiring Early and How to Get There
Learn the art of low cost living and say goodbye to the rat race sooner. Make retiring early a reality by following these simple rules. Add a cheap retirement location such as Ecuador and your dream becomes a reality.
Where you choose to live in your golden years is up to you. There are many activities to get your heart pumping if you retire in Ecuador.
Surfing, mountain climbing, exploring jungles and waterfalls are just a few.
Of course, you could just kick back in your hammock and watch the sun set over the Andes.
"A year from now, you'll wish you had started today."
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