In 2020, American retirees are collecting average monthly Social Security payments of $1,503, or a mere $18,036 for the year.
That's hardly enough to afford a decent life, particularly when seniors are facing out-of-pocket health care costs of more than $13,000 per year.
But what if you didn’t retire in the U.S.? Health care, housing and daily expenses cost significantly less in other countries.
Subscribing to MoneyWise Has Its Rewards
Hello! You’ve found us by way of our phenomenal lifestyle content, but did you know MoneyWise is best known for producing thoroughly researched personal finance content, written by the smartest personal finance writers in the industry?
If you subscribe to MoneyWise—for free—you’ll get unlimited, ad-free* access to all of our content (including this article) and you’ll receive a twice-weekly personal finance newsletter that makes you smarter about your money.
What you’ll read in our newsletter:
- Investing: Discover the types of investments that grow your wealth in the long-term.
- Budgeting: Master everyday expenses and achieve your savings goals.
- Taxes: Minimize stress and maximize your return every year.
- Retirement: Prepare today for your dream retirement tomorrow.
- Life & Money: Get answers to your questions when money impacts your relationships.
An investment in your future
Ignorance isn’t bliss when it comes to managing your money—it’s just expensive. A free MoneyWise subscription is your first step to becoming a personal finance Einstein.
When it comes to tackling your financial goals, there’s no time like the present.
Your subscription supports top-tier journalism
Our editorial team is a group of top-tier journalists and industry professionals who believe that reporting on personal finance should be more useful and productive, and that consumers deserve the best possible information to help them make smart choices and get ahead.
We hunt down the latest news and information about what’s happening in the world of finance and offer it in an easily digestible format for our subscribers.
*Subscribers must be logged in for display advertising to be disabled. Ad-free refers only to display advertising. Content on MoneyWise often contains affiliate offers. It would be impractical to remove these from content for subscribers. Furthermore, MoneyWise believes linked products and services add sincere value to the content. With that being said, please be aware articles may still contain affiliate offers. These offers will be clearly marked in line with our advertising guidelines.