After working our whole lives, we hope to retire somewhere nice and comfortable until the end of our days, but cost of living these days, especially in some of the most affluent cities in the world are unbearably high. Still, where exactly are the best places to retire? And how much would you need to have to live out your years in retirement there?
To make things easier for the rest of us, the team at Net Credit has done the grunt work of tallying up the different retirement costs all around the world as well as for each state in the US. They have also created several charts that summarize all that information for us. The one above shows costs of retirement for different countries.
Their research highlights the most expensive country to retire requires you to have at least $1 million over 15 years. If you think that place may be somewhere in Europe or one of the states, then you're wrong. It's actually found in Asia, and the second smallest country in Asia to boot.
The cheapest place to retire in is also in Asia, although I doubt you would want to retire there as it might be quite risky. On average, the cost of retirement in the US was around $700,000. Now, looking at the data for the US states, you can guess which one is the most expensive to retire in, and it's not on the East Coast or the West Coast. Meanwhile, the cheapest state is Mississippi. -via Digg
(Image credit: Net Credit)