 TITLE: Can You Afford to Retire Abroad CONTENT: Retiring Abroad on the Cheap? Money Matters to Consider First\n-------------------------------------------------------------\n###### Written by: Kristy Welsh\n_Last Updated: September 11, 2017_\nIf you want to stretch your retirement dollars, there are plenty of places to retire abroad on the cheap. But before you have your heart set on it, do your homework first. One or more of the following factors could change your mind.\nExamine Your Current Cost of Living\n-----------------------------------\nWhen you start looking into affordable retirement destinations overseas, don’t bet the bank on cost of living estimations. Certainly, they’re a good way to narrow down your search, but _your_ cost of living could vary depending on your personal preferences and expectations.\nYour best bet? Before blindly deciding on a retirement spot, spend a good chunk of time there to get an idea of just how much _you_ will likely spend to maintain the lifestyle you want, in terms of housing, food, entertainment, and other cost of living expenses.\n**How Much Do You Have in Savings and\/or Retirement Income**\n------------------------------------------------------------\nIn order to acquire a retirement visa, most countries require proof of retirement savings and\/or retirement income. Look into the specific requirements of your destination country.\n### **Healthcare Needs**\nMedicare won’t cover healthcare abroad, which is not to say you shouldn’t keep it.\nWhile you will want to find an alternative for basic medical needs within your new home country, you can always return back to the U.S. and use your Medicare for major procedures.\nAs for basic medical coverage you can use in your destination country, look into the public healthcare system. Will they allow you to pay into the system for healthcare access? Or is healthcare so cheap there that you can afford to pay everything out of pocket?\n### **Taxes Required to Federal Agencies**\nNo matter where you retire, as long as you are a U.S. citizen, you’re required to file federal income taxes. This includes any income you earn from work in your retirement years, as well as income made off of investments.\n### **Travel to and From the U.S.**\nHow often will you want to visit family and friends back in the States?\nLook into the cost of round-trip flights and do the math on what it will cost you to travel back and forth. And remember to factor in hotel accommodations (if applicable), as well as the cost of food and entertainment while you’re here.\nLooking to retire on the cheap without leaving the States? Check out our top 20 list of the most affordable places to retire in the U.S. END