The 5 cheapest towns you can live in & why.

The Cheapest Places to Retire: Five Towns Where You Can Live Better for Less

At home, prices are rising. It costs more to put gas in the car, buy groceries, and pay for health insurance. At the same time, retirement savings eroded in the market downturn. And with interest rates at near-zero today, it’s difficult to rebuild.

More than ever, retirees need to stretch their dollars. Here are five communities overseas where it’s remarkably easy to do. In these best-value havens, you can pair financial security with a superb lifestyle.

Anne Watson-Russell, age 62, has done it. She says her pension wouldn’t cut it back home.  She needed to go where she could live comfortably on $1,500 a month. Now, having moved to Panama, she says her biggest challenge is deciding which of the seven nearby beaches she should pick for her daily swim.

Eighty-three-year-old Patrick Robinson wanted his savings to last, so he moved to one of the healthiest—and most affordable—places on earth, Vilcabamba, Ecuador.  His monthly budget is around $1,300 and he couldn’t be happier.

Jonathan Look and his wife Vonda chose Chiapas, Mexico, where they say you can live well on $1,400 a month. In Nicaragua, Rebecca Teeters and her husband Shylow live in a colonial town house on the shores of Lake Granada for just $700 a month—they say it’s their dream come true…

If you’re looking overseas for a low-cost alternative to an uncertain retirement at home, there’s good news. You can find it in places that offer not just “cheap”  living, but a whole basketful of benefits, too—places where a mild spring-like climate is yours all year round…beaches are of powder-white sand…snow-capped mountains  soar above colonial towns…and  your costs could be as low as $600  a month.

In our annual Global Retirement Index (published in January), we ranked and rated the 19 best retirement havens in the world. You can stretch your dollars in any of them and live better than you can back home—for less. But the five here offer an outstanding bang for your buck: Ecuador, Panama, Malaysia, Nicaragua, and Mexico.

We asked our editors and in-country correspondents to pinpoint within each nation a specific community  to recommend—places that have lots to offer retirees and can be enjoyed on a budget of $600 to $2,000 a month.

See below for the full article on The Cheapest Places to Retire,Retire in Luxury on Your Social Security Check.

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