Many people wonder if they can live comfortably in retirement on Social Security benefits alone. With rising living costs and uncertain financial markets, stretching a fixed income seems daunting. Yet, by living in the right places and budgeting carefully, retirees can enjoy a good quality of life without dipping into savings or pensions beyond Social Security.
The latest Social Security figures for 2025 set the average benefit for a couple at around $3,900 per month. For singles, the average benefit is close to $1,900. These numbers serve as a practical baseline to plan where one can retire comfortably with just Social Security income. The goal here is to see how far these amounts can go in various countries around the world.
Malaysia: An Affordable and Comfortable Choice
Malaysia stands out as a great option where monthly expenses match or come under that $3,900 mark for a couple. Cities like Kuala Lumpur and Penang offer an excellent balance of cost, comfort, and amenities for retirees.
Housing costs for a couple in Kuala Lumpur can hover around $1,500 monthly, making it possible to secure one of the nicer residences in the city. For example, Star Residences provide comfort and security along with great city views. These apartments come with utilities included and access to amenities like pools, gyms, and even restaurants. Many residents find it convenient to have delivery options for food and groceries right at their doorstep, further simplifying daily life.
Food expenses in Malaysia are quite modest. Unlike many places where Western-style meals can be expensive, Malaysia offers incredibly affordable dining options. Delivery from American-style restaurants costs only a few dollars per meal. The affordability gives retirees the freedom to enjoy a mix of local and international cuisine without stretching their budgets. For insurance and healthcare, budgeting around $250 a month also fits well within the overall monthly plan.
Singles who receive closer to $1,900 will need to adjust their housing budget to fit under $750 per month to maintain comfort. Although the luxury residences may be out of reach at this price point, Kuala Lumpur offers many affordable apartments that still provide a safe and pleasant living environment.
An important bonus to retiring in Malaysia is the widespread use of English and access to quality healthcare. Some retirees even have access to major medical services at costs well below U.S. prices. This makes Malaysia both affordable and practical for those on limited incomes.
The monthly budget outlined here includes one annual trip back to the U.S., spread out as a prorated monthly expense. This helps retirees maintain ties with family and friends while living abroad.
Colombia: Affordable Living With Quality Services
Colombia is another excellent country for retirees living on fixed incomes. Its major cities and coastal towns offer a variety of lifestyles, from urban convenience to relaxed beach living, all at attractive costs.
Living expenses fall well within the $3,900 monthly range for couples and near the $1,900 range for singles who budget carefully. Housing in cities such as Medellín, Santa Marta, and Cartagena varies but generally remains affordable, especially compared to U.S. standards.
A unique advantage in Colombia is the widespread availability of live-in or part-time housekeeping help. Many apartments come with an assigned housekeeper from the property owner. This service can be hired weekly, giving retirees flexibility in scheduling based on their needs and budget. Housekeepers do more than clean; they often prepare meals, handle laundry, run errands, and even care for pets. This level of support enhances the quality of life and reduces many daily chores that might otherwise require more energy or expense.
Retaining housekeeping services costs surprisingly little compared to similar help in the U.S., often added cheaply into the monthly budget.
The social life and community connections in Colombia make adjusting to retirement abroad easier. Colombians are known for their warmth, hospitality, and vibrant culture. Retirees can enjoy delicious local foods, lively music scenes, and opportunities for socializing at local cafes or cultural events.
Another practical benefit involves time zones. Colombia shares similar time zones with much of the U.S., making it convenient for retirees to watch sports, participate in virtual meetings, or maintain real-time contact with family and friends back home. Unlike some Asian countries where large time differences might isolate retirees from current happenings, Colombia’s time zone matches well with American daily life.
Planning a Monthly Budget on Social Security Alone
Here is a rough breakdown of a monthly budget for a retired couple on Social Security in Malaysia or Colombia:
- Housing: $1,500 for comfortable, secure apartments or small homes
- Food: Around $1,000 for groceries and occasional dining out or delivery
- Healthcare/Insurance: Approximately $250 for private or supplemental insurance
- Utilities and Internet: Included in housing or approximate $100
- Transportation: Around $100 for local transport or occasional taxis
- Miscellaneous (housekeeping, entertainment, clothes): Balance of budget, roughly $900
Singles should adjust these figures roughly in half, aiming for about $750 on housing and cutting other costs accordingly.
Retirees who do not receive full Social Security benefits or who have monthly payments slightly below the average can still live comfortably by adjusting their expectations and tightening budgets where possible. Careful planning and choosing the right location make this feasible.
Making Social Security Stretch in Retirement
The key to thriving on Social Security benefits alone lies in choosing countries where the dollar goes far and where day-to-day expenses match your income. Malaysia and Colombia fit this need well with affordable housing, cheap delicious food, access to healthcare, and local services that reduce effort and increase enjoyment.
Retiring abroad comes with its own challenges such as navigating visas, language barriers, and health insurance. However, places like Malaysia offer English widely, and Colombia’s welcoming expat communities ease adjustment for newcomers.
Retirement post-Social Security can be comfortable and fulfilling with the right choices. Rather than worry about large savings needed, retirees can focus on good lifestyle options where $3,900 per month for couples or $1,900 for singles supports a thriving existence.
For those who own limited savings or just Social Security incomes, this approach offers hope and practical knowledge to plan an enriching retirement without overspending or financial stress. With some research and adjustment, living well on a fixed income is within reach.
