How much will it cost to retire?

SINGAPORE, 1 March 2021: Singapore and Hong Kong are among the ranks of the most expensive places to retire, with Pakistan, India and Kyrgyzstan at the cheapest end of the scale, according to a study by NetCredit.

In the study’s preamble, NetCredit claims the 2021 study shows  retiring somewhere like the US or the UK will require “USD500,000 in the bank to do it comfortably.”

But if that is not possible, then retiring abroad might be the next best option, although Pakistan, the cheapest of the lot, might not your prime target.

To retire in India, you will need USD184,819. As the second cheapest destination for expatriate retirees, its beach resort destinations are the main drawcard.

Traditionally destinations in Southeast Asia have always dominated the cheap spots to retire rankings, and they remain competitive in the NetCredit study, but with higher costs than India. The lowest in Southeast Asia is Indonesia at USD290,599, followed by Malaysia at USD321,614. Vietnam is competitive at USD353,906. Cambodia and Thailand are a close tie at around USD389,000.

Key Findings

● The most expensive country in the world to retire is Bermuda, where you would need USD1,065,697.

● Pakistan is the cheapest country to retire. You would need USD182,018 to maintain our example lifestyle there.

● Fourteen years of retirement in the US would cost USD601,489.63; USD40,917.66 per year or USD2,841.50 per month.

● The study found 125 countries where retirement is cheaper than in the US and only 13 that are more expensive.

The most expensive countries

The most expensive countries in the world for retirement are the usual suspects – countries known for the high cost of living. Overall in the world, the most expensive country is Bermuda (technically a British Overseas Territory), where the average expatriate would need over USD1 million to retire. Two Asian economic powerhouses — Singapore and Hong Kong — are in second and third spots, respectively on the most expensive list.

To retire in Singapore, you will need USD950,000, and in Hong Kong – USD871,000. Fourth-placed Switzerland is the most expensive European country to retire in with an estimated pot of USD 842,000. To retire in Luxembourg, you would need USD758,000, while a retirement in the Nordic countries like Iceland, Norway and Denmark would set you back between USD645,000 and USD678,000. Retiring in Israel – the most expensive country for retirement in the Middle East – would cost you USD632,000.


NetCredit’s calculations are based on the average American retirement age of 64 years and the average American life expectancy of 78.4 years. Monthly living costs were collated from Numbeo for 124 countries, which includes estimates for rent, food & dining, child care, going out, vacations, and a variety of other living expenses in cities and countries around the globe.

Source: NetCredit: Visit