How Much Money Do You Need to Retire Abroad?

Two numbers decide it, and they are different. The cost of living determines whether you can live there; the visa income floor determines whether you are allowed to. In four countries $1,000 a month clears the visa, while Mexico asks $4,200.

Alex Carter · · 5 min read

The visa floor: what you must prove

This is the first gate and it has nothing to do with what things cost. Each country publishes a number.

CountryIncome floorRoute
Spain€2,400 a monthNon-Lucrative Visa
Portugal€920 a monthD7 passive income visa
Italy€31,000 a yearElective Residence Visa
Greece€3,500 a monthFinancially Independent Person visa
France€1,800 a monthvisitor / financially independent route
Mexico$4,200 a month over six months, or $70,000 held for twelveTemporary Resident Visa
Costa Rica$1,000 a monthPensionado
Panama$1,000 a monthPensionado
Ecuador$1,446 a monthpensioner visa
Colombiaabout $1,710 a monthM-Pensionado
Thailand800,000 baht in a Thai bank, or 65,000 baht a monthNon-Immigrant O-A
Malaysiaa deposit from $32,000 at age 50+Malaysia My Second Home
Philippinesa deposit of $15,000 to $50,000SRRV

The average US retired-worker benefit is $2,086 a month. It clears Costa Rica, Panama, Ecuador, Colombia, France and Portugal outright. It falls short in Spain, Greece and Mexico.

The cost of living: what you can actually do there

Clearing the floor and living comfortably are separate questions. Here is what the same $2,086 buys.

CountryMultiplier$2,086 becomesVisa floor
Dominican Republic2.53x$5,279
Morocco2.46x$5,136
South Africa2.38x$4,964
Romania2.24x$4,664
Guatemala2.23x$4,660
Ecuador2.22x$4,633$1,446 a month
Serbia2.14x$4,462
Brazil2.13x$4,453
Albania2.03x$4,236
Chile2.03x$4,234
Honduras2.00x$4,176
Poland1.98x$4,135

Why most thresholds move every January

Spain sets its floor at 400% of IPREM, a public income index. Portugal uses its minimum wage. Colombia and Ecuador use three times theirs. When the index is revised, the requirement moves with it, without an announcement. Learn the mechanism rather than the number.

Frequently asked

How much money do you need to retire abroad?

In Costa Rica and Panama, a lifetime pension of $1,000 a month clears the visa. Ecuador asks $1,446, Colombia about $1,710, Portugal €920, Spain €2,400 and Mexico $4,200 a month over six months.

Can you retire abroad on Social Security alone?

In many countries, yes. The average benefit of $2,086 a month clears the income requirement in Costa Rica, Panama, Ecuador, Colombia, France and Portugal, and buys between two and three times as much in Southeast Asia.

Which country has the lowest income requirement?

Costa Rica and Panama, at $1,000 a month from a lifetime pension. Panama accepts $750 if you also hold $100,000 in Panamanian assets.

Do these requirements change?

Yes, most of them annually. Spain's is 400% of IPREM, Portugal's is the national minimum wage, and Colombia's and Ecuador's are three times theirs. They move whenever the underlying index is revised.

Other questions

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