With smart planning, many people are retiring earlier than ever before. It's possible to retire in your 50s when you know how to calculate your monthly income until you're well into your 90s. As retirement approaches, you'll also need to make a decision on your home base. Branch out into the world by looking at regions that are incredibly affordable with the United States dollar. In fact, explore the best locations where you can retire for less than $2,000 a month.
1. Missoula, Missouri
If you're looking for spectacular views and affordable living, Missoula, Missouri, is the perfect location. This city resides near the Rocky Mountains, but with a flat city center for your walking enjoyment. It's possible to rent an apartment for about $700 a month, which leaves extra money for those fun adventures around town. Explore the recreational aspects to Missoula, such as fishing or golfing. With the University of Montana nearby, you'll have a mixture of different age groups in an area that also boasts quality healthcare.
There's no harm in looking at international destinations as your retirement plan. In fact, many countries have extremely low costs of living because the dollar remains strong on a global level. Montenegro is a country found on the Adriatic Sea with gorgeous buildings that speak volumes about its history. Only $300 a month is necessary to rent out a one-bedroom home in this country. Buses and ferries are constantly moving around the cities as you enjoy the breathtaking views between adventures in this Balkan region.
3. Fort Worth, Texas
When warm weather and a busy city are your requirements during retirement, look to Fort Worth, Texas. This city has housing that's priced at around $960 a month, which leaves you with some funds to spend at the local farmer's market. Enjoy walking through the city with its eclectic shops, or choose the lake life with several parks in and around the town. Fort Worth continues to grow in size with many businesses bringing their best products and services into town. You won't miss a thing by living in this exhilarating city.
Armenia may be a completely foreign land to you now, but its layout is similar to the United States when it comes to valued institutions. Picturesque mountains provide the backdrop for hundreds of different structures that have been built over the years. These religious spires and domes provide inspiration as the $200-a-month housing cost tempts you to explore even further. The people are welcoming with a culture that's built on family and loyalty. Armenia is an exotic yet comfortable setting for a distinct retirement.
5. Phoenix, Arizona
If you're a fan of the desert, Phoenix, Arizona, is an easy pick for places that are under $1,000 a month. With a senior population of about 9 percent, you'll have no shortage of friends as you enjoy the countless outdoor activities. Hiking, biking, walking and other adventures await you in the city center or along the mountainous perimeter. Ideally, pick a community where you have many people in your age group. Phoenix suburbs and niche neighborhoods are your best bet for comfort and affordable housing.
Dreams of a Caribbean retirement are possible when you look to the beautiful land of Grenada. This island is famous for its spices, which waft in the air as you walk around its colorful homes. Rent a one-bedroom apartment for about $400 a month so that you can take advantage of the tropical amenities surrounding you. Fishing, hiking and beach exploration are all a part of life in Grenada. Dedicate the rest of your funds to paying for sailing and other excursions around the island.
7. Columbus, Ohio
With housing costing about $750 a month, Columbus, Ohio, is a gem for retirees. A perk that's offered to residents 60 years of age or older is free classes. In fact, take these classes at Ohio State University where you'll have world-class teachers in every classroom. You'll also appreciate the fine medical centers in the area with plenty of recreational activities almost year-round. Consider a home outside of the city or be in the middle of the action with an apartment set in downtown.
Nicaragua is emerging as a country that demands to be seen on the world stage. You might think of Costa Rica when it comes to a growing economy and possible retirement areas, but it's truly Nicaragua that's making a comeback. Enjoy housing that can cost between $200 and $300 a month. Towns, including Granada, have detailed architecture that only enhances your exploration. Become a local by shopping the small markets and learning the language. Retiring in an exotic land is an adventure itself.
9. Jacksonville, Florida
Florida is the quintessential location for retirees, but for good reason. The tax benefits alone are reason enough to head out to Jacksonville, Florida. As a retiree, you won't pay state income, Social Security or pension taxes. With this fact in mind, you'll save more money to put toward those exciting endeavors. This city is along the Atlantic Ocean coast with close proximity to Georgia. Enjoy warm and humid weather, but with some moderation from the ocean nearby.
Nepal isn't often thought of as a retirement destination, but that may change in the coming years. A one-bedroom home might cost you $100 a month. Spend your extra money on trips around this beautiful country. People are friendly with many areas for your walking pleasure as you enjoy the local culture. A perk that's also unique to Nepal is the population's total grasp of the English language. You can technically get by with your English without learning a new language in retirement.
If you've never traveled to an area where you're considering a big move, take a vacation there first. Experience the people, culture, and climate so that a proper determination can be made with a move. Your retirement should be full of excitement as the golden years continue to grow in duration and improve in quality of life.