New survey highlights inexpensive overseas havens for expat retirees

The results of a recent survey reveal that retirees looking to live out the dream on far less than the rising cost of living in their home country.

The survey, carried out by InternationalLiving.com, targeted pensioner couples aged 65 and over and was based on needs including food, utilities, rent, entertainment, health insurance and a maid. With over 10 million pensioners living in the UK and a further 40 million or more in the USA, the authors of the survey believe that retirement options across the world are preferable than attempting to get by at home.

The target figure of around £612 a month’s living costs is easily achieved in Nicaragua, referred to as a budget paradise with cheap everything. However, the survey also mentions that it’s one of the poorest nations in the Western Hemisphere and is struggling to recover from civil unrest and natural disasters.

Surprisingly, Malaysia rates as the second cheapest destination of the top five, although exactly where in Malaysia isn’t mentioned. Admittedly, fresh fruit costs very little, a meal out can be less than £6.00 for a couple and internet access and cable TV are cheaper than in the UK, but the country’s human rights record is up for investigation.

Ecuador holds the third place, although a couple’s estimated expenses rise to £867 per month. The survey says a home in the city and a beachside hideaway are quite possible for retirees from the US, where state pensions are far higher than in the UK.

The final two choices, Panama and Mexico, would be out of reach for average British pensioners, as costs are given as £1,142 and £1,304 respectively. Of course, savings could be achieved by cutting out the maid service.