The reason why it is so easy to retire on social security in Medellin, and the reason why we are answering these questions, is simple. It’s because, in Medellin, you can retire comfortably on your social security payment with no problem.
You may ask yourself, what is the best place to retire on your social security? Easy, here we tell you why.
I know some people who have retired from social security in Canada and are doing it now, living here very well. That would be my uncle and my dad when he was alive, so yes, I know you can, or anyone can live here, a very comfortable life with social security, and it’s simple. Now even better with the exchange. The dollar price can vary, but historically, it has been going up faster than Colombia’s cost of living.
According to https://money.usnews.com, the average Social Security paycheck is just over 1.6k per month. So what can you do with this kind of money in the States or Canada compared to Colombia? I don’t have to answer that, but in case. IT’S ABYSMAL! Get it. Here you can live upper middle class, no problemo, with dining out once a week or all the time if you want! Simple.
So, let’s recap.
- Real estate is cheap on both fronts, rent and own.
- Fresh, more organic fruits and vegetables. (farmers’ markets all over the place)
- Living costs are 70% more affordable.
- The weather is amazing
And it’s 70% cheaper, so your 1.6k per month goes so far that it’s not even funny. You get to learn a new language or hire that speaks English. Simple.