This article takes a look at the 20 best cities to retire on $10,000 a month anywhere in the world. If you wish to skip our detailed analysis on navigating the retirement period, you may go to 5 Best Cities to Retire on $10,000 a Month Anywhere in the World. 

The Reality of a Luxurious Retirement

Everyone wants to live comfortably, and different people use different means to achieve this comfort. While there are a select few that have generational wealth to rely on - Visual Capitalist reports that an estimated 50% of all wealth in America is held by the baby boomer generation - there are others who commit their lives to corporate or venture into the side hustle economy. A report by Microsoft Corporation (NASDAQ:MSFT) owned LinkedIn reveals that about 50% of Americans are engaged in at least one side hustle. 

While the money earned is certainly spent on living life during one’s youth and middle-aged years, it’s also saved up for a secure retirement. The Motley Fool reports that financial planners recommend having 80% of your pre-retirement income to be able to hold the same lifestyle in your retirement years. For a retiree previously earning a $100,000 salary, this would be a sum of $80,000. Similarly, a study by the Charles Schwab Corporation (NYSE:SCHW) reveals that Americans estimate needing a sizeable $1.8 million to retire comfortably, while a Money report states that the average American estimates needing around $5,000 a month for a comfortable retirement. 

Even though figures by the Charles Schwab Corporation (NYSE:SCHW) study, Motley Fool, Microsoft Corporation (NASDAQ:MSFT), and many more may vary, one thing is clear - retirement in America requires a prior investment. However, the reality is very different. Data from the US Census Bureau reveals that 50% of women and 47% of men aged 55 to 66 have $0 in retirement savings, while Smart Asset concludes that only about 10% of senior citizens have $1 million or more in retirement savings

The average American is then faced with much tougher times during retirement, where the struggle to make ends meet continues to persist. As a result, Americans then turn to other options, including moving states or even countries and finding cheap and beautiful places to retire in the US or affordable places to retire in the world. 

Landing the Retirement Bank

While there’s no doubt that the majority of American retirees face financial strife - or at the very least check-to-check living - during retirement, there are those who don’t. These are the picture-perfect American retirees often painted in the media or publications in idealized versions. They view retirement as the ‘golden period’ of life where stress - cue work and kids - have exited life and what’s left behind is a stretch of peaceful, luxurious living. Most noteworthy are the retirees who not only accumulate millions in their retirement funds but also surpass the widely acknowledged American benchmark of $1.8 million which is highlighted by Charles Schwab Corporation (NYSE:SCHW).

What does retirement then look like for the financially secure senior citizen? While pre-retirement focus may have been on investment, Nasdaq says that it now shifts to preserving wealth. This includes living below one’s means, setting financial goals, building an emergency fund, and most importantly, investing - a habit that they would have adopted early on in their life. 

“Upper middle class retirees often built their wealth by starting to invest at an early age. This includes a diversified portfolio that combines stocks, bonds, real estate, and other investment vehicles. They may have taken advantage of tax-efficient investment strategies, like maximizing contributions to retirement accounts and using tax-advantaged investment vehicles like municipal bonds and tax-deferred investments.”

With wealth preservation in the works, many retirees achieve their one true goal: a comfortable yet stable retirement income that is often in five digit figures. Not only does this safeguard them from the stresses and panics of financial struggle, but it also allows them to find the best cities to retire on $10,000 a month anywhere in the world. 

To know more about the best cities to retire on $10,000 a month anywhere in the world, read below. 

Methodology

To compile this list of the 20 best cities to retire on $10,000 a month anywhere in the world, we consulted several sources including our list of 20 Expensive Places to Retire that are Worth It, and U.S. News and World Report, Nasdaq, GOBankingRates, and MarketWatch. Once a list of cities was compiled using these sources, we then ranked them across several factors. 

These factors included livability scores, health standards, and ease of retirement policies. Livability scores were taken from Mercer’s Quality of Living City Rankings, and healthcare information was taken from Medbelle. Equal weightage was assigned to each factor, and a cumulative score for each city was reached. The cities were then ranked, with the highest-scoring city taking the number one spot on our list of best cities to retire on $10,000 a month anywhere in the world. While financial aspects such as the cost of living, average rent, and median house prices were not considered for rankings, an overall monthly expense for the selected cities was determined to ensure that they were livable on $10,000 a month. 

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 

Here are the 20 best cities to retire on $10,000 a month anywhere in the world:

20. Lugano, Switzerland

Insider Monkey Score: 25

A European delight, Lugano in Switzerland is ranked among the top 6% of expensive cities in the world. Yet, a retirement in this scenic city is well worth it. Slowly developing to be a hub for well-off retirees, Lugano offers breathtaking nature views including those of the iconic Swiss Alps.

19. Saint Tropez, France

Insider Monkey Score: 26

Located on the French Riveria, Saint Tropez is our second European pick for the best cities to retire on $10,000 a month anywhere in the world. Popular for its nightlife and beaches, Saint Tropez offers retirees a slow-paced life, a welcome break from the hustle and bustle of pre-retirement duties. Add its Mediterranean climate to the mix and Saint Tropez proves to be a wonderful find.

18. Park City, Utah, US

Insider Monkey Score: 26.5

Number 18 brings us back to home ground with Park City in Utah. This US city offers a well-balanced living experience with a robust healthcare system, a pleasant community, and beautiful landscapes. While one of the more expensive cities, Park City has much to offer to make up for it - plenty of high-end dining options, quality retail, and the much-adored Sundance Film Festival that puts an added glimmer to the area.

17. Miami, Florida, US

Insider Monkey Score: 27

Florida is one of the most popular states for retirees looking to move post-retirement, and Miami is one of the most expensive cities in the state. With a happening nightlife, beautiful beaches, and warm and sunny weather, Miami is a great post-retirement pick. To top it off, Miami offers top-notch health facilities ideal for senior citizens. Mercer ranks it as the 67th most livable city in the world, fairly high up in their extensive list. 

16. Philadelphia, Pennsylvania, US

Insider Monkey Score: 28

Pennsylvania’s most populous city, Philadelphia is known for its rich American history. Retirees can visit Independence Hall, Liberty Bell, and other various revolutionary sites along with experiencing exquisite cuisine. For retirees who prefer to stay within the states, Philadelphia is highly recommended. Mercer moves our 3rd US pick up the list with a rank of 65.

15. Dallas, Texas, US

Insider Monkey Score: 29

The home of Southern comfort food, Dallas is perfect for retirees wanting a peaceful retirement while still experiencing plenty of leisure and entertainment. Popular for its cowboy culture, arts scene, and the AT&T stadium, retirees will love the Dallas experience. Dallas enjoys a comfortable 70s ranking for both quality of living and healthcare - 73rd and 74th respectively. 

14. Nice, France

Insider Monkey Score: 30

Set on the picturesque Baie des Anges, Nice is the second most-populated city in France. A popular retirement spot, Nice boasts beautiful beaches, stunning architecture, and a pleasant Mediterranean climate. The result is a French city with a high concentration of retirees, all looking for the picture-perfect retirement experience. The healthcare is also commendable with a Medbelle position of 66th. 

13. Lisbon, Portugal

Insider Monkey Score: 32

A coastal city set in Portugal, Lisbon is one of the best places to retire internationally, especially for affluent retirees - Mercer testifies by ranking it as the 39th most livable city in the world. The surge of tourism and influx of retirees has pushed up the cost of living in Lisbon, placing it among one of the more expensive places to retire. However, its offering of high-quality services and leisure activities makes the move well worth it.

12. Houston, Texas

Insider Monkey Score: 35

Our second Texas pick for the best cities to retire on $10,000 a month anywhere in the world, Houston is quickly growing to become one of the most retiree-prone areas in the US. Its warm weather, tax-friendly policies, and rich culture are all inviting, and retirees from all over the US flock to the city to live out their golden years. It is also one of the most livable cities in the world with a quality of like ranking of 62nd and a healthcare rank of 59th. 

11. Chicago, Illinois, US

Insider Monkey Score: 37

A university city, Chicago is home to the famous DePaul and UIC universities. Not only does this make the city a hub for cultural diversity, but it also offers plenty of dining and entertainment options. This US city also boasts a top 100 rank for both quality of life and healthcare at 65th and 46th respectively. 

10. Canberra, Australia

Insider Monkey Score: 38

Australia’s capital city, Canberra hosts a range of retirement villages perfect for senior citizens who seek community living. Its higher cost of living is made up for by all that Canberra offers, being an ideal place for retirees looking to build a new life post-retirement. Residents can experience the great outdoors and immerse themselves in nature like never before.

9. The Hague, Netherlands

Insider Monkey Score: 39

Another European pick, the Netherlands is both a popular tourist and retiree spot and The Hague is one of its most promising cities. With a thriving expat population of more than 80,000, retirees can find themselves in an inter-cultural community. The home of the Dutch government and host to the UN’s International Court of Justice, The Hague boasts a rich history. Not to forget, The Hague is also hailed internationally for being among the cities with the best quality of life, a quality shown by its number 11 ranking. 

8. Brisbane, Australia

Insider Monkey Score: 41

If you’ve ever asked yourself the question of where to retire on $10,000 a month and not regret it, then Brisbane in Australia deserves a spot on that list. The capital of Queensland and located along the Brisbane River, Brisbane offers interactive exhibitions, art museums, and a botanic garden. Ranked as the 13th best city for healthcare and 34th for quality of life, retirees can also stay at ease about their medical needs.  

7. Geneva, Switzerland

Insider Monkey Score: 43

One of the highest ranked cities on our list for both healthcare and quality of life - 6th and 5th - is Geneva. A truly historic city, Geneva is host to the United Nations headquarters and also to that of the Red Cross. It is also known for its luxurious lifestyle, natural beauty, and thriving entertainment scene, making it a great place for international retirees.

6. Vancouver, Canada

Insider Monkey Score: 44

A pick from the USA’s neighboring country, Vancouver in Canada claims a top ten place in our list of the best cities to retire on $10,000 a month anywhere in the world. Its abundance of outdoor activities, quality healthcare with a Medbelle ranking of 31st, and cultural attractions are what make it a popular retirement pick. Not to mention, the weather is also on the more pleasant side of things and the city enjoys a quality of life ranking of 8th best in the world. 

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Disclosure: none. 20 Best Cities to Retire on $10,000 a Month Anywhere in the World is originally published on Insider Monkey.