How Much Does it Really Cost to Live Overseas?

I ran the cold beer over my forehead as the horse outside swished his tail. Afternoons in Panama’s Los Santos province are a good time to join cowboys and fishermen in a shady cantina. The horse’s owner had tied him under a spreading tree. I sat close by with a group of cheerful expats fresh from a visit to a coral island—a good moment to ask questions.

“How much does it really cost to live here?” I asked.

“You can do it for $1,000 a month. But that’s if you don’t drink. If you like beer, you can add a few hundred to that,” replied one guy, smacking his lips.

“Let’s be conservative,” I suggested.

“Well $2,000 a month is enough to live really well, rent a great home, eat out often…I reckon $1,500 is a good benchmark…”

And so the conversation went. I’ve had many like it. As have IL correspondents and editors all over the world searching out the truth of what, exactly, you get for your money. But still, with every conceivable cost factored in, it’s often hard to believe just how affordable it is overseas.

Take the “Garden City” revealed here. When I first heard that you could rent there from $200 a month and live comfortably on $1,000 or so a month, I was skeptical. But those figures have been put to the test and they’re for real. It helps that temperatures are usually in the high 60’s F and you don’t need air-conditioning or heating.

And some of my colleagues were dubious on hearing that a couple can travel the world on just $40 a day…but Ann and Mike are doing just that… two of the growing number of folks who quit their jobs and took off to see the world on a one-way ticket—see how here.

But I’m a believer. After all, I’ve personally experienced the outstanding value of three of the five lowest-cost destinations on the IL beat…places where a social security check bags you an enviable lifestyle…where $1,500 a month covers everything including your maid’s paycheck and a regular massage. And you can find out all about them right here.