# Age 65 with $150K. Any place on earth you can retire and live nicely on that? **URL:** \ **Category:** Factual Questions\ **Created:** [March 7, 2009, 1:29pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647 "2009-03-07T13:29:18Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![astro](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@astro](https://boards.straightdope.com/u/astro)\ **Post date:** [March 7, 2009, 1:29pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/1 "2009-03-07T13:29:18Z")
Say you’re 65 and have sold your your house and have $ 150,000 cash in hand, and that’s ALL you have, No pensions other savings. Any place on earth you can retire and live comfortably on that amount until you’re dead? ---
**Author:** ![sailor](https://avatars.discourse-cdn.com/v4/letter/s/a587f6/32.png) [@sailor](https://boards.straightdope.com/u/sailor)\ **Post date:** [March 7, 2009, 2:12pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/2 "2009-03-07T14:12:37Z")
> [@astro](#): > > Say you’re 65 and have sold your your house and have $ 150,000 cash in hand, and that’s ALL you have, No pensions other savings. Any place on earth you can retire and live comfortably on that amount until you’re dead? I hope this is just an academic question because I do not think you can live _comfortably_ anywhere in the world on that amount and I understand some people can live comfortably with very little. What is the life expectation? I would want the money to last me at least 20 to 25 years. With that expectation you could get a monthly payment which I do not have time to calculate right now but which might be around $800. With that you have to pay rent, eat, and pay all other expenses, including medical. I just can’t see it. You might live on that in some third world place but it isn’t going to be “comfortable”. ---
**Author:** ![astro](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@astro](https://boards.straightdope.com/u/astro)\ **Post date:** [March 7, 2009, 2:31pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/3 "2009-03-07T14:31:01Z")
> [@sailor](#): > > I hope this is just an academic question because I do not think you can live _comfortably_ anywhere in the world on that amount and I understand some people can live comfortably with very little. What is the life expectation? I would want the money to last me at least 20 to 25 years. With that expectation you could get a monthly payment which I do not have time to calculate right now but which might be around $800. With that you have to pay rent, eat, and pay all other expenses, including medical. I just can’t see it. You might live on that in some third world place but it isn’t going to be “comfortable”. I’m thinking an 85 year lifespan. Barring medical issues wouldn’t $ 800 a month allow you to have a pretty sweet room and board lifestyle in many second world countries? ---
**Author:** ![Bill\_Door](https://avatars.discourse-cdn.com/v4/letter/b/50afbb/32.png) [@Bill\_Door](https://boards.straightdope.com/u/Bill_Door)\ **Post date:** [March 7, 2009, 2:33pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/4 "2009-03-07T14:33:27Z")
Only if you don’t live very long. ---
**Author:** ![Petrobey\_Mavromihalis](https://avatars.discourse-cdn.com/v4/letter/p/bcef8e/32.png) [@Petrobey\_Mavromihalis](https://boards.straightdope.com/u/Petrobey_Mavromihalis)\ **Post date:** [March 7, 2009, 2:54pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/5 "2009-03-07T14:54:31Z")
> [@sailor](#): > > You might live on that in some third world place but it isn’t going to be “comfortable”. Why not? Developing world countries are not entirely made of mud huts you know. ---
**Author:** ![Desert\_Nomad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/desert_nomad/32/177_2.png) [@Desert\_Nomad](https://boards.straightdope.com/u/Desert_Nomad)\ **Post date:** [March 7, 2009, 2:58pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/6 "2009-03-07T14:58:00Z")
You could probably do ok (meaning meet the costs and have a decent level of comfort) in Thailand, Turkey, possibly Panama or Costa Rica. It’d be tight and you may have to take a step down from there… Indonesia, Mozambique etc. I know a guy that moved to Mozambique to open a surf school/pub and it can be comfortable, but it is not going to be like living in Florida. ---
**Author:** ![Fear\_Itself](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fear_itself/32/19637_2.png) [@Fear\_Itself](https://boards.straightdope.com/u/Fear_Itself)\ **Post date:** [March 7, 2009, 3:22pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/7 "2009-03-07T15:22:15Z")
Cost of living for [expats in Costa Rica](http://www.costarica.com/Cost_of_Living/): > [@](#): > > Those expats interested in simple living should budget $1500 or less monthly. Rents in rural areas and select urban areas hover around $300-$600 for a well-furnished apartment or small home. At this price, renters can expect Costa Rican-style amenities, which may include line-drying laundry and bathrooms equipped with electric shower heads. Generally, this budget allows for bus rides and the occasional taxi, big trips to the farmer’s market and a few restaurant meals each month. A little more than eight years. ---
**Author:** ![pulykamell](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pulykamell/32/3166_2.png) [@pulykamell](https://boards.straightdope.com/u/pulykamell)\ **Post date:** [March 7, 2009, 3:45pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/8 "2009-03-07T15:45:26Z")
> [@Bill\_Door](#): > > Only if you don’t live very long. Nah, there’s got to be plenty of places where this is still possible. Before the dollar went into the shitter, when I lived in Budapest from 1998-2003, it was absolutely possible to live comfortably on $625. Hell, I was getting paid $700/month and managing to save money. And I lived in one of the swanky districts (Rozsadomb). I’d probably need at least twice that to manage the same lifestyle, now, but there’s got to be a lot of other places where you can be comfortable on that money. I remember going into Romania (Transylvania, very beautiful countryside and towns) at the time and being amazed at how absolutely cheap it was compared to Budapest. Cheap as in $5 for dinner for four with drinks. Heck, if you want to go to the Hungarian countryside and live an idyllic lifestyle, $150,000 for 20 years is not out of the question. You can buy a house in the countryside for under $25K. ---
**Author:** ![IdahoMauleMan](https://avatars.discourse-cdn.com/v4/letter/i/71c47a/32.png) [@IdahoMauleMan](https://boards.straightdope.com/u/IdahoMauleMan)\ **Post date:** [March 7, 2009, 3:52pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/9 "2009-03-07T15:52:34Z")
> [@Desert\_Nomad](#): > > You could probably do ok (meaning meet the costs and have a decent level of comfort) in Thailand, Turkey, possibly Panama or Costa Rica. It’d be tight and you may have to take a step down from there… Indonesia, Mozambique etc. I know a guy that moved to Mozambique to open a surf school/pub and it can be comfortable, but it is not going to be like living in Florida. I spent practically nothing knocking around Botswana, Namibia and South Africa. And drank a fair amount of beer, to boot. Although in the RSA, you would probably need to restrict yourself to semi-rural areas and not the nicer places around Cape Town and Jo’burg. But around Maun, Botswana and Windhoek, Namibia you should do fine. Although admittedly, I didn’t have any major medical issues that would require significant attention. I can’t remember what the situation would be like for a non-citizen that required major medical attention. The most I had to spend was on malarial drugs, and that wasn’t much. ---
**Author:** ![Razncain](https://avatars.discourse-cdn.com/v4/letter/r/9d8465/32.png) [@Razncain](https://boards.straightdope.com/u/Razncain)\ **Post date:** [March 7, 2009, 3:53pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/10 "2009-03-07T15:53:08Z")
Healthcare costs are the biggest concern, but even more so for anyone in America. Not a country to get old and retire in unless you have an excellent health insurance policy, and to have one of those (if they exist), it’s still going to cost you plenty. For that reason, I’ve been looking at other countries as well. I’ve put a great deal of time in to studying the Central American countries, in particular [Costa Rica.](http://www.therealcostarica.com/) That probably is the best site I’ve found for it, and has a wealth of good information on it. Also puts quite a bit of time in on the negatives too. He does give a balanced approach. Actually reading through all of his material on his site, it’s probably talked me right out of that country, but still is one I’m considering. I hope others will continue to share about other countries and possibilities. ---
**Author:** ![Colibri](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/colibri/32/1841_2.png) [@Colibri](https://boards.straightdope.com/u/Colibri)\ **Post date:** [March 7, 2009, 3:54pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/11 "2009-03-07T15:54:01Z")
Costa Rica or Panama would be relatively expensive for Central America. [Honduras](http://http://www.dirla.com/honduras2b.html#Cost%20Of%20Living) or maybe Nicaragua would be a good deal cheaper. For Honduras: > [@](#): > > A three bedroom home with a pool, tennis court, maids quarters, and plenty of land in what is considered to be the more exclusive areas would sell for around $80,000. > > Additional expenses for a live in house keeper, telephone, electricity, and air conditioning would add another $150.00 to your monthly budget. > > Resident expatriates calculate a couple can live comfortably on $700.00 per month, if they own their home. If your definition of “comfortable” is more basic than this, you could probably squeak by in Honduras. ---
**Author:** ![Cisco](https://avatars.discourse-cdn.com/v4/letter/c/ccd318/32.png) [@Cisco](https://boards.straightdope.com/u/Cisco)\ **Post date:** [March 7, 2009, 3:54pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/12 "2009-03-07T15:54:22Z")
You could go fucking nuts if you only want to live another 3 or 4 months. ---
**Author:** ![Spice\_Weasel](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/spice_weasel/32/5435_2.png) [@Spice\_Weasel](https://boards.straightdope.com/u/Spice_Weasel)\ **Post date:** [March 7, 2009, 4:09pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/13 "2009-03-07T16:09:21Z")
Mexico? I’m serious. Mexico has a ton of retiree expats and it’s a beautiful country. Where I stayed, most people built their own houses and food and medical care is incredibly cheap. When I was in the country I lived off $20/week with no problem (my room and board was already paid for… I’m merely guessing that might have totaled $100/week.) You could probably make it. Bring your own money… if you have to earn it there, you’ll be screwed. If you don’t mind the lack of luxury, you could probably eke out a comfortable living for at least a decade with $150,000, possibly right up until the end. You won’t find a retirement home for when you’re old and feeble though. ---
**Author:** ![DrCube](https://avatars.discourse-cdn.com/v4/letter/d/a3d4f5/32.png) [@DrCube](https://boards.straightdope.com/u/DrCube)\ **Post date:** [March 7, 2009, 5:27pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/14 "2009-03-07T17:27:53Z")
For the record, $150,000 will yield $625/month indefinitely (i.e. forever) at 5%/year interest. If “indefinitely” isn’t good enough, and you want to have exactly zero dollars left on your 85th birthday, you’ll get around $1000 dollars a month. Obviously, different interest rates change the formula a lot. And the above doesn’t take inflation into account. ---
**Author:** ![dracoi](https://avatars.discourse-cdn.com/v4/letter/d/90db22/32.png) [@dracoi](https://boards.straightdope.com/u/dracoi)\ **Post date:** [March 7, 2009, 5:35pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/15 "2009-03-07T17:35:24Z")
No social security? You can get a job in the US and earn at least a few hundred bucks of monthly social security in just a few years of work. Then go anywhere you want and keep collecting. ---
**Author:** ![ultrafilter](https://avatars.discourse-cdn.com/v4/letter/u/3d9bf3/32.png) [@ultrafilter](https://boards.straightdope.com/u/ultrafilter)\ **Post date:** [March 7, 2009, 6:23pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/16 "2009-03-07T18:23:54Z")
> [@astro](#): > > I’m thinking an 85 year lifespan. Barring medical issues wouldn’t $ 800 a month allow you to have a pretty sweet room and board lifestyle in many second world countries? Maybe, but almost no one is going to live to 85 without medical issues. Those have to be accounted for in any reasonable retirement scenario. ---
**Author:** ![Bolt\_the\_Nut](https://avatars.discourse-cdn.com/v4/letter/b/22d042/32.png) [@Bolt\_the\_Nut](https://boards.straightdope.com/u/Bolt_the_Nut)\ **Post date:** [March 7, 2009, 6:52pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/17 "2009-03-07T18:52:28Z")
> [@dracoi](#): > > No social security? > > You can get a job in the US and earn at least a few hundred bucks of monthly social security in just a few years of work. Then go anywhere you want and keep collecting. You may be mistaken on this. In most cases, a person will have to work for 40 quarters (10 years) to be eligible for Social Security benefits. Link below: [http://www.ssa.gov/pubs/10072.html](http://www.ssa.gov/pubs/10072.html) ---
**Author:** ![aruvqan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/aruvqan/32/2891_2.png) [@aruvqan](https://boards.straightdope.com/u/aruvqan)\ **Post date:** [March 7, 2009, 7:02pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/18 "2009-03-07T19:02:06Z")
> [@ultrafilter](#): > > Maybe, but almost no one is going to live to 85 without medical issues. Those have to be accounted for in any reasonable retirement scenario. Actually, my mom just hit 86 this past feb, and she didnt have health issues until she hit about 80 … she had a touch of arthritis in her knees, but all she needed was OTC tylenol or motrin or advil, and she started presenting alzheimers and is on meds for that … other than a touch of the common rhinovirus every winter, she is actually very healthy. Crackers but healthy=) Though she did have whiplash from a car accident when she was about 30 that recurred in a small accident about 10 years ago [apparently having it once predisposes you to it again in a similar accident, who knew=)] She would actually probably enjoy a pastoral retirement somewhere she could sit and look out over a nice garden and sit enjoying a breeze on a porch, with someone to stop in and clean once or twice a week. Her alzheimers is responding nicely to whatever the placque drug she is guinea pigging for, and other than a touch of depression at my dads missing the first christmas at home in 35 years… ---
**Author:** ![Crowbar\_of\_Irony\_3](https://avatars.discourse-cdn.com/v4/letter/c/f08c70/32.png) [@Crowbar\_of\_Irony\_3](https://boards.straightdope.com/u/Crowbar_of_Irony_3)\ **Post date:** [March 7, 2009, 7:29pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/19 "2009-03-07T19:29:08Z")
Aren’t there some nice unincorporated territories of the United States which are basically just island states? They seem rather nice place and all that (at least from my research on Wikipedia). ---
**Author:** ![ultrafilter](https://avatars.discourse-cdn.com/v4/letter/u/3d9bf3/32.png) [@ultrafilter](https://boards.straightdope.com/u/ultrafilter)\ **Post date:** [March 7, 2009, 7:32pm UTC](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647/20 "2009-03-07T19:32:28Z")
> [@aruvqan](#): > > Actually, my mom just hit 86 this past feb, and she didnt have health issues until she hit about 80… So she lived till 85, and developed medical issues despite being previously healthy. That’s my point in a nutshell. But I’m glad she’s doing basically OK. [Next page](https://boards.straightdope.com/t/age-65-with-150k-any-place-on-earth-you-can-retire-and-live-nicely-on-that/488647.md?page=2)