3 Expat Havens Where Retirees’ Social Security Checks Go a Long Way

Retirees living on a fixed income of Social Security are feeling the pinch—and they’re turning to alternative ways to make their dollar stretch further, with many overseas for a different quality of life.

Retired workers will collect an average Social Security check of $2,005.05 as of June 2025, according to the Social Security Administration.

If this is your only retirement savings, you might read that number and panic. After all, the average mortgage payment in the country is currently $2,186, according to the Mortgage Bankers Association.

The median asking rent, according to the latest rental report from Realtor.com®, in the 50 largest metros registered at $1,711—but it still doesn’t mean there would be much left over for other basics such as food, clothing, transportation, home maintenance, insurance, pets and children, and more.

The average retired American household spends around $5,000 a month just to live, according to the Federal Reserve’s 2023 consumer expenditure survey.

“That’s quite the shortfall,” writes Kathleen Peddicord, founder of Live and Invest Overseas, in Forbes.

It’s no wonder that Americans are increasingly looking abroad for retirement. Not only is the contentious political environment driving people away, but there are many places where that Social Security check will buy you a lot more.

“There are many retirement havens where you can live well on a budget of $2,000 a month or less,” writes Peddicord.

What you should know

Before you plunk down your credit card for the next flight out of Dodge, remember you will need a visa to legally reside in your chosen country.

Retiree visas usually require proving a minimum monthly income (amounts vary by country) and that you carry health insurance. Many countries also require you to prove that you have a place to live and have a clean criminal history.

Talk to an immigration attorney or relocation expert, and always check the country’s website for current requirements.

Also, know that other countries aren’t necessarily going to be “America but better.” They will all have their own customs, cultures, languages, and laws—ones you might be utterly unfamiliar with and perhaps slow to adapt to.

“If you are stuck in your ways and not very tolerant of change, expat life will not work out for you,” warns Cynthia Staton, who relocated from Las Vegas to Cuenca, Ecuador, with her husband, Edd, in search of a cheaper retirement.

“You’ve got to be really flexible, really patient,” she says.

But if that sounds up your alley, here are three expat havens where your Social Security check will go much further.

Phuket, Thailand

Retiree visa: Non-Immigrant O-A

Minimum monthly income: About $2,000

If you like tropical climes, turquoise waters, colorful architecture, and grand palaces, Thailand could be the place for you.

That all sounds great, you might be thinking, but what about extreme weather events? It was only 20 years ago that a massive tsunami engulfed Phuket and killed 117 people, with an additional 214 missing, according to the Asian Disaster Reduction Center.

Immigration attorney Jean-Francois Harvey, of Harvey Law Group, is bullish on Phuket. He points out that the tsunami, devastating though it was, affected only a small portion of the island, and that it has been rebuilt with much more resiliency in mind.

“Thailand has been dealing with extreme weather forever,” he tells Realtor.com.

Thailand has about 50,000 Americans living there, says Aaron Henry, owner of Bangkok marketing firm Foundeast.com. He’s lived in the country for nine years, emigrating from Los Angeles.

“For most of us, moving to Thailand is a one-way trip,” he says. He lives in Bangkok but travels frequently to Phuket for business and leisure.

Henry agrees that $2,000 would stretch further in Phuket, Thailand’s biggest island, than in the U.S. but has some caveats.

A $2,000 monthly budget “is a bit of a lean,” he says, “even for a single person who is living in Phuket or Bangkok and wanting a lifestyle comparable to the USA.”

Phuket rents are slightly lower than $1,000 for a small condo, plus $150 in utilities, he adds. Then there’s getting around town.

“Phuket doesn’t have cheap, excellent public transportation like Bangkok does with the sky train and subway, and taxis there are expensive. You’ll need a car or motorbike.”

He says that a budget of $3,000 a month would allow you to live comfortably, but it doesn’t factor in travel or other large expenses.

If you want to live even cheaper, he suggests areas outside of Phuket, including lesser known cities of Khon Kaen and Buri Ram. There will be fewer expats here—which you might or might not welcome.

Keep in mind that foreigners can’t own land in Thailand, only a condo or portable house.

Henry believes the country is superior than the U.S. in many ways besides affordability. He calls the food “better than New York, Paris, or London.”

Health care, as in most countries, is more affordable than the U.S. But Henry asserts it is also of higher quality. “When you go to a doctor, you sense you are being taken care of, not exploited,” he says.

In fact, he ranks everything from nightlife to public transport to culture to safety higher than what he experienced in the U.S. and says there is “nothing” he misses about L.A.

But before you pack your bags and catch the next flight to Phuket, he has a warning.

“Phuket can be paradise,” he says. “But, as living long term or permanently in any other country requires, be prepared to check your preconceptions at the door. Think about what you can contribute as an outsider, not what you can take.

“Don’t go seeking a place with better versions of what you’re unhappy about at home—those expectations aren’t likely to be perfectly met.”

Mendoza, Argentina

Retiree visa: Pensionado visa

Minimum income requirement: About $2,000

Argentina, Mendoza, “is a good choice for active retirees who aren’t ready to sit back and rock on the front porch,” writes Peddicord.

If wine is your jam, this is one place you don’t want to overlook, as it is located in the middle of Argentina’s wine country. Despite being a desert clime, Argentina has an ancient system of canals that distribute snowmelt from the mountains, creating spectacularly rich soil and vineyards, she says.

“Great wine, thick steaks, dramatic landscapes, brilliant weather, friendly people who enjoy nothing better than sitting around an open fire drinking the fruit of their vines, sharing their asado, and indulging in the lost art of conversation,” writes Peddicord on her website. She calls Mendoza “the good life defined.”

Additionally, the country is known for its temperate climate, vibrant culture, and spectacular geographical diversity, from jungles to arid climates to beaches. It also has the modern conveniences of Buenos Aires and other cities.

And for those living on that $2,000 Social Security check, Mendoza might be the place.

“A monthly budget of $2,000 would see you living well here,” says Peddicord. Rent for a semifurnished two-bedroom apartment ranges from $400 to $1,000 per month.

“Catch a bus for 50 cents and dine out for $25,” she says.

Minus rent, the average single person’s expenses in this South American country are about $700 a month, according to citizenship solutions firm Golden Harbors.

And you really can’t beat the price of the country’s health care system—over 60% of medical services are free for everyone, including expats.

Santa Marta, Colombia

Retiree visa: Migrant (Type M)

Minimum income requirement: About $1,000

“Santa Marta is an under-the-radar gem popular with well-heeled, in-the-know Colombians who vacation here for reasons including its affordability, great climate, soft golden sands, and warm Caribbean waters,” says Peddicord.

Ranked No. 3 in Live and Invest Overseas’ list of the Best Places to Retire in 2025, Colombia has one of the lowest income requirements for retirees, with a basic requirement of only about $1,000 per month.

“Colombia is one of the easiest places we know to establish residency,” Peddicord writes on her blog.

While Santa Marta has plenty of history, being one of the country’s oldest colonial cities, it also has many new developments, including a seafront park, and plenty of cafes, bars and restaurants, and a large cruise ship port.

However, Peddicord cautions that there isn’t as much English spoken here as in other parts of the country, so be prepared to brush up on your high school Spanish.

A 90-minute flight to the capital of Bogotá means you can hop back to the States relatively easily. A nonstop flight to New York is six hours.