5 Foreign Cities to Retire on $37K a Year or Less

(Related: 10 Best Foreign Countries for Retirement: 2018) An increasing number of Americans are retiring overseas to capital cities that offer a culture-rich lifestyle, excellent infrastructure and top-class dining and entertainment — and an affordable price tag, according to Internationalliving.com. A new report from the editors at International Living reveals five capital cities overseas where a couple can retire on less than $37,000 a year. "An urban retirement holds increasing appeal for baby boomers keen on the idea of staying active and aging in place. In big cities like Washington, D.C., retirees can easily access theater, dance, museums, restaurants, doctors and grocery stores without getting in a car," Jennifer Stevens, executive editor of International Living, said in a statement. "But all that comes with a high price tag — especially for living and housing costs. The median household income in D.C. is $72,935, but experts say you need more like $90,811 to live there comfortably as a working person." By International Living's calculations that equates to $63,568 a year, or $5,297 per month, for a couple to retire comfortably in the capital of the United States. "But retirees can gain all the same benefits of a cosmopolitan, urban lifestyle in the best-value capital cities overseas — for a small fraction of that price tag," Stevens said in a statement. The International Living report lists five capital cities in Europe, Latin America and Southeast Asia where a retired couple can live well on less than $37,000 a year. Check out the gallery to see which five cities are in the report. --- Related on ThinkAdvisor:

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