It’s Not All Fun and Games
When looking at other countries, it may appear that a dollar could get you much further than it does in the US. While this is the case sometimes, it isn’t always so easy. Still, there are places out there where you could easily live like a king on an American salary. So with that in mind, here is what a million dollars can net you in these countries.
1. India
Monthly living expenses of US $300-$500 are common for a modest but comfortable lifestyle in many cities in India. With $1 million, you could live at that level your entire life without having to work another day, or you could buy a generous property with part of the funds and live off the rest. Since basic costs like housing, food, and services are much lower there than in Western countries, $1 million can provide an assured level of long-term financial comfort.
2. Vietnam
In Vietnam, the average monthly cost of living can range between $500 and $800 US. If you spend at that rate, with $1 million you can live a comfortable life for over 100 years. You could retire, travel, eat well, and maybe even buy a house and still have money left over.
3. Pakistan
Pakistan is regularly cited as one of the lowest cost-of-living countries in the world. With the cost of living so low, you can buy multiple houses for yourself with $1 million and still have more than enough to not have to work a day in your life. With the huge sum of money you have left over, you can travel often, as well as enjoy some of Pakistan’s most delicious restaurants.
4. Egypt
Egypt is another country where life is relatively cheap by world standards. With $1 million in the bank, you could live a low-key but very comfortable lifestyle for the rest of your life and might even be able to buy a house or start a smallish business without too much financial worry.
5. Philippines
One nice thing about living in the Philippines is that housing and general cost of living is less than in Western countries. A million dollars is a lot of money here: you could buy a house and still have plenty to live a long and very comfortable life.
6. Malaysia
Malaysia is a place where you can have a low-cost lifestyle relative to developed countries. With $1 million, you can buy property or fund a comfortable retirement lifestyle that includes lots of travel, good healthcare, and eating out often, all with a nice safety margin.
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7. Thailand
Thailand is one of those countries where a little bit of money goes a long way according to Western standards. A comfortable, middle-class lifestyle in Thailand is a fraction of what you would spend in a developed country. You could live long-term on $1 million and have it fund a very nice big house and a few years of doing whatever you wanted without worrying about money.
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8. Indonesia
Indonesia is also one of the cheapest places to live in the world. You could live comfortably for many decades with $1 million, invest in property or business, and still have a cushion of money. Moving to Indonesia with $1 million means you don’t have to work another day in your life while living a very comfortable life.
9. Mexico
The cost of living in Mexico is on average much lower than Canada or the United States. Monthly expenses for a single person are frequently under $1,000-$1,500 depending on the area. With US $1 million, you could purchase a nice house, pay for daily expenses, and live well for several decades, even if you travel or want non-essential luxuries.
10. Turkey
Turkish homes have been claimed to be some of the cheapest in the world by square meter price. A million dollars can get you a large home, perhaps even a few homes, while maintaining a lot of your capital in savings or investment. There are lots of extremely delicious restaurants to explore too.
11. Bulgaria
In Eastern European countries like Bulgaria, the cost of living and housing is often much lower than in Western Europe. A million dollars can buy a comfortable home and possibly allow a long period of above-modest living. In fact, a combination of property investment and a comfortable lifestyle is more than a possibility here.
12. Romania
Just like Bulgaria, Romania has lower real estate prices than much of the Western world. With $1 million, you can buy a nice and luxurious house and live comfortably, and frugally, for many years. Depending on your lifestyle, you can even travel or eat out for every meal with the rest of the money.
13. Croatia
Croatia, particularly outside its prime coastal or tourist areas, has real estate and living costs that tend to be far lower than in most Western European countries. $1 million is enough to buy a very pleasant home, as well as support decades of comfortable living, travel, or other indulgences. With the beauty of Croatia’s beaches just a car ride away, you can live a very relaxing and enjoyable life with this amount of money.
14. Portugal
Portugal is not one of the cheapest countries in the world, but it is generally a lot cheaper than large Western European or North American cities. With $1 million, you could buy a house outside of the very priciest areas, live very comfortably, and still have money left over for travel or savings. It’s not the best value for your money, but it’s better than the big cities in the US for value.
15. Spain
Like some other regions of Europe, Spain has some availability of low-to-mid cost housing outside the most touristy places, and low-to-moderate cost of living when compared to the large Western cities. For $1 million, you can buy a house and have many decades of living large. If you are okay with a modest to middle-class lifestyle without having to work another day, this might be the best place to choose.
16. Cambodia
Cambodia is ranked as one of the world's least expensive countries to live in as an expat or retiree, with relatively low costs of housing, food, and services. In that environment, $1 million would go a very long way. It could provide you with a lifetime of leisure or the opportunity to buy property or even a business locally.
17. Nepal
Nepal, as in other low-cost Asian countries, provides living expenses that are on the lower end of the global scale. With a million dollars in savings, you can lead a modest but comfortable life here for decades and may even be able to purchase property or invest. There are fewer conveniences and luxuries available, but everything that is there will cost you far less than you are used to.
19. Bangladesh
Bangladesh is featured on many low cost-of-living rankings. Average housing costs per square meter are among the lowest in the world, and overall living costs are more than affordable. $1 million will provide ample living space and ensure long-term financial security if you're not too lavish with your lifestyle.
19. Sri Lanka
Sri Lanka is regularly mentioned as one of the countries for frugal retirees. $1 million could easily support a high standard of living in Sri Lanka for many years, if not decades. This includes property, travel, and various other quality-of-life improvements without having to deplete savings.
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20. Morocco
In Morocco, property can be much cheaper by Western standards. You could get a beautiful and spacious house, even in a good area, for $1 million and still have a lot left over for living or savings. The food is some of the best in the world, according to many food review sources as well.
