7. Ecuador
Ecuador, one of the top retirement destinations in the world, is located in the northwest corner of South America, bordering Colombia to the north, Peru to the south and east, and the Pacific Ocean to the west.
Because the country produces excellent food, which usually grows for the entire year, the prices at local markets are so low that it’s difficult to spend more than $15.
For less than 150.000 dollars, one can buy a house on the Pacific Coast’s beach.
The cost of a rental apartment varies depending on where it is located in the city, however it usually ranges between $80 and $450 per month.
The monthly budget is less than $1,500 dollars per month.