Is $1 Million Enough to Retire Abroad?

How Long Will $1 Million Last in Top Retirement Destinations?

Is $1 million enough to retire abroad? From Panama City to Jaipur, these are the international locales where $1 million lasts the longest. In some places around the world, it can stretch from 14 years up to 60 years.

Retiring Abroad With $1 Million: What the Data Shows

Retiring abroad with $1 million can provide financial freedom — but how far your money goes depends heavily on the destination. International Citizens Group, a resource site for expats, created a list of some of the most popular places to retire abroad and calculated how long $1 million in savings can last in each.

Where Your Money Lasts the Longest

They looked at a variety of cities in Europe, Asia, Central America, South America, and Australia. Their calculations accounted for:

A 3.5% tax rate of return on investment

5% annual inflation

Increasing the inflation rate to 7% reduced the years of retirement by an average of two years in more costly countries and five years in more affordable ones.