3 Places To Enjoy A Rich Retirement In Europe From $1,575 A Month

27.11.2023 - 17:41 / forbes.com

For many years now there’s been a misconception about Europe… that it’s expensive and that a comfortable retirement there is beyond the reach of the average American...

I’m happy to report that’s not the case.

My husband and I divide our time between our homes in France and Panama and it might surprise you to learn that our monthly costs are higher when we’re in Panama City than they are when we’re at our Paris base.

There are a number of reasons for this.

In Panama City, we need a car. That’s not the case in Paris where a walk to the store or to work is a joy rather than a chore. And, when the weather doesn’t cooperate, the city’s excellent public transport is cheap and easy to use.

Our utility bills are lower in Europe too—air con is neither the norm nor necessary there. Our phone plan is also cheaper in Paris and offers unlimited free calls to the U.S. and throughout Europe.

The fact is, right across Europe, your cost of living can be hugely variable and highly controllable. So, if you dream of a retirement in Old World Europe but fear your budget puts it out of reach, it’s time to think again.

I’ve been covering the live, retire, and invest overseas beat for over three decades and in my mission to identify the best places in the world for Americans to live better for less I’ve uncovered some true gems.

Here, for your consideration, are three of my preferred destinations in Europe where you can live rich on a modest budget…

Running for over 120 miles along southwestern Spain is the Costa de la Luz, a region dotted with bustling cities, well-appointed beach towns, and ancient hilltop villages.

As well as enjoying 3,000 hours of sunshine each year, residents in this part of Spain can live well on a monthly budget of $1,575.

Apartments close to the beach rent for $600 a month. Groceries for two for a month will run a bill around $240, and a bottle of wine can be bought for as little as $1.

The main city in this region is Cádiz which dates to 1104 BC. With its long board-walked beachfront lined with colorful ancient buildings, it’s often called “Little Havana” and draws comparisons to Old San Juan, Puerto Rico. Indeed, this is the prototype that those New World cities were based on.

If you’d prefer a spot that feels even more familiar, consider the town of Rota, 28 miles north of Cádiz. Home to the Rota naval base, shared by Spanish and U.S. forces, you’ll find a large American presence here.

Also on offer is ancient history, fine beaches, a walkable town center, and proximity to natural attractions and solid golfing options.

Spain’s health care system is one of the world’s best and residents can join the national system with costs typically running around $80 a month.

Cyprus is one of the EU’s most