There is no one way to approach retirement, but many people are getting creative in stretching their money for a comfortable even luxurious third act of life. One strategy? Retiring abroad.
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Retiring abroad: An American couple who retired in Portugal breaks down how much they spend every month
Artem Evdokimov/Shutterstock
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International Living , a magazine focused on Americans living overseas, released its annual Retirement Index recently. The index was curated by US expats and ranked countries "where you can live a healthier and happier life, spend a lot less money, and get a whole lot more" in retirement. Portugal was named the best country for retirement because of its affordable lifestyle, quality healthcare, temperate climate, and dining.
Business Insider spoke with Tricia Pimental, who retired to Portugal in 2012 with her husband, Keith, from Park City, Utah. They currently live in central Portugal and spend roughly $2,330 in a typical month.
They spend that money across categories including housing, food, transportation, healthcare, and entertainment.
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Subscribe here to read our feature and see a breakdown of the monthly budget: Portugal is the best country in the world for American expats to retire in. A Utah couple who moved there in 2012 gave us a breakdown of how they live on a $2,330 monthly budget.
Do you have a similar story or budget you'd like to share with Business Insider? Get in touch with this reporter at tborden@businessinsider.com.
See Also:
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- BUDGET SHEET: A married couple breaks down how they paid off their $200,000 mortgage in 4 years
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SEE ALSO: These are the top 10 countries to retire in this year, according to US expats who have already made the move
DON'T MISS: A Michigan couple who paid off their $200,000 mortgage in 4 years share the exact budget sheet they used, and it accounts for every dollar of their monthly income
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