You Won’t Believe How Far a $1,000,000 Nest Egg Goes in These Countries
See how many years $1 million can last you in these countries.
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If you’ve managed to save $1 million for retirement, congratulations. Based on the average annual non-discretionary expenditures in the United States for a single person, that money could last you for more than 43 years. This may not be true in big coastal cities like New York, where the cost of living is 29% higher. But across the U.S. as a whole, $1 million could cover more than four decades of necessary annual expenditures.
As impressive as that is, there are many other countries where that $1 million can last much longer — many of which might surprise you. Australia, for example, has a reputation as a high-cost country, but your $1 million could last you over 45 years there. Fancy vast open spaces, stunning landscapes and high adventure? Consider New Zealand, where your $1 million could stretch for more than 48 years.
Thinking of retiring on a beach? How about Fiji, where your $1 million can last nearly 74 years? Although $1 million might only last about 22 years in the Cayman Islands, how does 78 years of retirement in Thailand sound, with its legendary food, stunning beaches and amazing culture?
Whether you’ve already retired with $1 million or if that’s the goal you’re working toward, you’ll find plenty of desirable countries where your money can last through your golden years.
Last updated: Sept. 17, 2019
50. Bermuda
- Annual expenditures: $20,660.19
- Annual rent: $27,267.77
- Total annual cost: $47,936.96
How long it will last: 20 years, 10 months, 4 days
49. Cayman Islands
- Annual expenditures: $21,171.38
- Annual rent: $23,161.29
- Total annual cost: $44,332.67
How long it will last: 22 years, 6 months, 16 days
48. Hong Kong
- Annual expenditures: $11,839.77
- Annual rent: $24,817.44
- Total annual cost: $36,657.21
How long it will last: 27 years, 3 months, 5 days
47. Switzerland
- Annual expenditures: $18,335.88
- Annual rent: $15,633.87
- Total annual cost: $33,969.75
How long it will last: 29 years, 5 months, 1 day
46. Singapore
- Annual expenditures: $11,992.23
- Annual rent: $19,297.96
- Total annual cost: $31,290.19
How long it will last: 31 years, 11 months, 7 days
45. Luxembourg
- Annual expenditures: $12,657.39
- Annual rent: $17,258.89
- Total annual cost: $29,916.28
How long it will last: 33 years, 4 months, 26 days
44. U.S. Virgin Islands
- Annual expenditures: $14,533.28
- Annual rent: $15,017.48
- Total annual cost: $29,550.76
How long it will last: 33 years, 9 months, 24 days
43. Iceland
- Annual expenditures: $14,531.78
- Annual rent: $14,033.75
- Total annual cost: $28,565.53
How long it will last: 34 years, 11 months, 24 days
42. Norway
- Annual expenditures: $15,618.45
- Annual rent: $11,599.32
- Total annual cost: $27,217.78
How long it will last: 36 years, 8 months, 17 days
41. Qatar
- Annual expenditures: $9,300.22
- Annual rent: $15,932.72
- Total annual cost: $25,232.95
How long it will last: 39 years, 7 months, 8 days
40. Ireland
- Annual expenditures: $11,409.29
- Annual rent: $13,678.86
- Total annual cost: $25,088.15
How long it will last: 39 years, 9 months, 30 days
39. Bahamas
- Annual expenditures: $12,848.72
- Annual rent: $11,020.29
- Total annual cost: $23,869.01
How long it will last: 41 years, 10 months, 11 days
38. United Arab Emirates
- Annual expenditures: $9,503.51
- Annual rent: $14,021.29
- Total annual cost: $23,524.80
How long it will last: 42 years, 5 months, 23 days
37. United States
- Annual expenditures: $10,605.12
- Annual rent: $12,607.96
- Total annual cost: $23,213.08
How long it will last: 43 years, 0 months, 17 days
36. Denmark
- Annual expenditures: $12,537.81
- Annual rent: $10,500.41
- Total annual cost: $23,038.22
How long it will last: 43 years, 4 months, 17 days
35. The Netherlands
- Annual expenditures: $11,243.37
- Annual rent: $10,986.05
- Total annual cost: $22,229.42
How long it will last: 44 years, 11 months, 13 days
34. Australia
- Annual expenditures: $10,969.84
- Annual rent: $11,004.72
- Total annual cost: $21,974.56
How long it will last: 45 years, 5 months, 22 days
33. Israel
- Annual expenditures: $11,889.10
- Annual rent: $9,803.08
- Total annual cost: $21,692.17
How long it will last: 46 years, 0 months, 24 days
32. Japan
- Annual expenditures: $12,782.95
- Annual rent: $8,741.52
- Total annual cost: $21,524.47
How long it will last: 46 years, 5 months, 4 days
31. New Zealand
- Annual expenditures: $10,913.04
- Annual rent: $9,787.51
- Total annual cost: $20,700.55
How long it will last: 48 years, 3 months, 9 days
30. Canada
- Annual expenditures: $10,188.09
- Annual rent: $9,426.39
- Total annual cost: $19,614.49
How long it will last: 50 years, 11 months, 11 days
29. Austria
- Annual expenditures: $10,784.49
- Annual rent: $8,666.80
- Total annual cost: $19,451.29
How long it will last: 51 years, 4 months, 16 days
28. France
- Annual expenditures: $11,153.69
- Annual rent: $8,125.13
- Total annual cost: $19,278.82
How long it will last: 51 years, 10 months, 1 day
27. Malta
- Annual expenditures: $9,780.03
- Annual rent: $9,382.81
- Total annual cost: $19,162.84
How long it will last: 52 years, 1 months, 23 days
Check Out: Best Places To Retire for Great Weather
26. Belgium
- Annual expenditures: $10,930.98
- Annual rent: $8,109.56
- Total annual cost: $19,040.54
How long it will last: 52 years, 5 months, 24 days
25. Finland
- Annual expenditures: $10,788.98
- Annual rent: $8,190.50
- Total annual cost: $18,979.48
How long it will last: 52 years, 7 months, 25 days
24. United Kingdom
- Annual expenditures: $9,765.08
- Annual rent: $8,931.42
- Total annual cost: $18,696.50
How long it will last: 53 years, 5 months, 12 days
23. Sweden
- Annual expenditures: $10,479.57
- Annual rent: $7,985.04
- Total annual cost: $18,464.61
How long it will last: 54 years, 1 months, 12 days
22. Germany
- Annual expenditures: $9,950.43
- Annual rent: $8,411.53
- Total annual cost: $18,361.96
How long it will last: 54 years, 5 months, 3 days
21. Barbados
- Annual expenditures: $12,005.69
- Annual rent: $6,226.15
- Total annual cost: $18,231.84
How long it will last: 54 years, 9 months, 22 days
20. Kuwait
- Annual expenditures: $7,522.99
- Annual rent: $10,266.92
- Total annual cost: $17,789.91
How long it will last: 56 years, 2 months, 3 days
19. South Korea
- Annual expenditures: $11,234.41
- Annual rent: $6,496.99
- Total annual cost: $17,731.40
How long it will last: 56 years, 4 months, 9 days
18. Italy
- Annual expenditures: $10,316.64
- Annual rent: $6,724.24
- Total annual cost: $17,040.88
How long it will last: 58 years, 7 months, 22 days
17. Puerto Rico
- Annual expenditures: $9,986.30
- Annual rent: $5,746.74
- Total annual cost: $15,733.04
How long it will last: 63 years, 6 months, 7 days
16. Panama
- Annual expenditures: $7,919.09
- Annual rent: $7,602.13
- Total annual cost: $15,521.22
How long it will last: 64 years, 4 months, 19 days
15. Cyprus
- Annual expenditures: $8,727.74
- Annual rent: $6,450.29
- Total annual cost: $15,178.03
How long it will last: 65 years, 10 months, 1 day
14. Spain
- Annual expenditures: $8,182.16
- Annual rent: $6,702.45
- Total annual cost: $14,884.62
How long it will last: 67 years, 1 months, 18 days
13. Ghana
- Annual expenditures: $6,443.79
- Annual rent: $8,283.90
- Total annual cost: $14,727.68
How long it will last: 67 years, 10 months, 7 days
12. Portugal
- Annual expenditures: $7,588.75
- Annual rent: $6,774.05
- Total annual cost: $14,362.81
How long it will last: 69 years, 6 months, 28 days
11. Myanmar
- Annual expenditures: $7,183.68
- Annual rent: $7,147.62
- Total annual cost: $14,331.30
How long it will last: 69 years, 8 months, 22 days
10. Taiwan
- Annual expenditures: $8,784.54
- Annual rent: $4,809.70
- Total annual cost: $13,594.24
How long it will last: 73 years, 6 months, 4 days
9. Fiji
- Annual expenditures: $7,424.33
- Annual rent: $6,160.78
- Total annual cost: $13,585.11
How long it will last: 73 years, 6 months, 22 days
8. Costa Rica
- Annual expenditures: $8,234.48
- Annual rent: $5,052.52
- Total annual cost: $13,287.00
How long it will last: 75 years, 2 months, 17 days
7. Trinidad and Tobago
- Annual expenditures: $8,096.96
- Annual rent: $5,136.58
- Total annual cost: $13,233.54
How long it will last: 75 years, 6 months, 6 days
6. Jamaica
- Annual expenditures: $8,436.27
- Annual rent: $4,594.90
- Total annual cost: $13,031.17
How long it will last: 76 years, 8 months, 6 days
5. Uruguay
- Annual expenditures: $8,207.57
- Annual rent: $4,812.82
- Total annual cost: $13,020.39
How long it will last: 76 years, 8 months, 29 days
Take a Look: The Most and Least Tax-Friendly Countries
4. Slovenia
- Annual expenditures: $8,096.96
- Annual rent: $4,921.77
- Total annual cost: $13,018.74
How long it will last: 76 years, 9 months, 3 days
3. Mozambique
- Annual expenditures: $6,673.98
- Annual rent: $6,207.47
- Total annual cost: $12,881.45
How long it will last: 77 years, 6 months, 29 days
2. Czech Republic
- Annual expenditures: $6,830.93
- Annual rent: $6,030.03
- Total annual cost: $12,860.95
How long it will last: 77 years, 8 months, 12 days
1. Thailand
- Annual expenditures: $7,452.73
- Annual rent: $5,332.70
- Total annual cost: $12,785.43
How long it will last: 78 years, 1 month, 27 days
More From GOBankingRates
- 24 Ways To Make This Week’s Paycheck Go Further
- Here’s How Much Cash You Need Stashed If an Emergency Happens
- 100 Ways To Make Money Without a 9-to-5
- 21 Smartest Ways To Invest Your Money Right Now
Methodology: GOBankingRates analyzed 50 countries using Numbeo’s mid-year 2019 cost of living indices by country to find how long a $1 million nest egg will last in these countries. Numbeo’s cost of living indices are based on the cost of living in New York City, so first GOBankingRates found the annual expenditures for a single person without rent in New York City and the annual cost of rent for a one-bedroom apartment in New York City. GOBankingRates then took those expenditures and adjusted them to each country’s cost of living without rent index and rent index sourced from Numbeo’s mid-year 2019 cost of living indices by country. These two factors were combined to give each country a (1) total annual expenditure which was then divided by one million to calculate (2) how long $1,000,000 will last in each country. All data was collected and up to date as of Aug. 29, 2019.
About the Author
John Csiszar
After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.
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If you’ve managed to save $1 million for retirement, congratulations. Based on the average annual non-discretionary expenditures in the United States for a single person, that money could last you for more than 43 years. This may not be true in big coastal cities like New York, where the cost of living is 29% higher. But across the U.S. as a whole, $1 million could cover more than four decades of necessary annual expenditures.
As impressive as that is, there are many other countries where that $1 million can last much longer — many of which might surprise you. Australia, for example, has a reputation as a high-cost country, but your $1 million could last you over 45 years there. Fancy vast open spaces, stunning landscapes and high adventure? Consider New Zealand, where your $1 million could stretch for more than 48 years.
Thinking of retiring on a beach? How about Fiji, where your $1 million can last nearly 74 years? Although $1 million might only last about 22 years in the Cayman Islands, how does 78 years of retirement in Thailand sound, with its legendary food, stunning beaches and amazing culture?
Whether you’ve already retired with $1 million or if that’s the goal you’re working toward, you’ll find plenty of desirable countries where your money can last through your golden years.
Last updated: Sept. 17, 2019
1. 50. Bermuda
- Annual expenditures: $20,660.19
- Annual rent: $27,267.77
- Total annual cost: $47,936.96
How long it will last: 20 years, 10 months, 4 days
2. 49. Cayman Islands
- Annual expenditures: $21,171.38
- Annual rent: $23,161.29
- Total annual cost: $44,332.67
How long it will last: 22 years, 6 months, 16 days
3. 48. Hong Kong
- Annual expenditures: $11,839.77
- Annual rent: $24,817.44
- Total annual cost: $36,657.21
How long it will last: 27 years, 3 months, 5 days
4. 47. Switzerland
- Annual expenditures: $18,335.88
- Annual rent: $15,633.87
- Total annual cost: $33,969.75
How long it will last: 29 years, 5 months, 1 day
5. 46. Singapore
- Annual expenditures: $11,992.23
- Annual rent: $19,297.96
- Total annual cost: $31,290.19
How long it will last: 31 years, 11 months, 7 days
6. 45. Luxembourg
- Annual expenditures: $12,657.39
- Annual rent: $17,258.89
- Total annual cost: $29,916.28
How long it will last: 33 years, 4 months, 26 days
7. 44. U.S. Virgin Islands
- Annual expenditures: $14,533.28
- Annual rent: $15,017.48
- Total annual cost: $29,550.76
How long it will last: 33 years, 9 months, 24 days
8. 43. Iceland
- Annual expenditures: $14,531.78
- Annual rent: $14,033.75
- Total annual cost: $28,565.53
How long it will last: 34 years, 11 months, 24 days
9. 42. Norway
- Annual expenditures: $15,618.45
- Annual rent: $11,599.32
- Total annual cost: $27,217.78
How long it will last: 36 years, 8 months, 17 days
10. 41. Qatar
- Annual expenditures: $9,300.22
- Annual rent: $15,932.72
- Total annual cost: $25,232.95
How long it will last: 39 years, 7 months, 8 days
11. 40. Ireland
- Annual expenditures: $11,409.29
- Annual rent: $13,678.86
- Total annual cost: $25,088.15
How long it will last: 39 years, 9 months, 30 days
12. 39. Bahamas
- Annual expenditures: $12,848.72
- Annual rent: $11,020.29
- Total annual cost: $23,869.01
How long it will last: 41 years, 10 months, 11 days
13. 38. United Arab Emirates
- Annual expenditures: $9,503.51
- Annual rent: $14,021.29
- Total annual cost: $23,524.80
How long it will last: 42 years, 5 months, 23 days
14. 37. United States
- Annual expenditures: $10,605.12
- Annual rent: $12,607.96
- Total annual cost: $23,213.08
How long it will last: 43 years, 0 months, 17 days
15. 36. Denmark
- Annual expenditures: $12,537.81
- Annual rent: $10,500.41
- Total annual cost: $23,038.22
How long it will last: 43 years, 4 months, 17 days
16. 35. The Netherlands
- Annual expenditures: $11,243.37
- Annual rent: $10,986.05
- Total annual cost: $22,229.42
How long it will last: 44 years, 11 months, 13 days
17. 34. Australia
- Annual expenditures: $10,969.84
- Annual rent: $11,004.72
- Total annual cost: $21,974.56
How long it will last: 45 years, 5 months, 22 days
18. 33. Israel
- Annual expenditures: $11,889.10
- Annual rent: $9,803.08
- Total annual cost: $21,692.17
How long it will last: 46 years, 0 months, 24 days
19. 32. Japan
- Annual expenditures: $12,782.95
- Annual rent: $8,741.52
- Total annual cost: $21,524.47
How long it will last: 46 years, 5 months, 4 days
20. 31. New Zealand
- Annual expenditures: $10,913.04
- Annual rent: $9,787.51
- Total annual cost: $20,700.55
How long it will last: 48 years, 3 months, 9 days
21. 30. Canada
- Annual expenditures: $10,188.09
- Annual rent: $9,426.39
- Total annual cost: $19,614.49
How long it will last: 50 years, 11 months, 11 days
22. 29. Austria
- Annual expenditures: $10,784.49
- Annual rent: $8,666.80
- Total annual cost: $19,451.29
How long it will last: 51 years, 4 months, 16 days
23. 28. France
- Annual expenditures: $11,153.69
- Annual rent: $8,125.13
- Total annual cost: $19,278.82
How long it will last: 51 years, 10 months, 1 day
24. 27. Malta
- Annual expenditures: $9,780.03
- Annual rent: $9,382.81
- Total annual cost: $19,162.84
How long it will last: 52 years, 1 months, 23 days
Check Out: Best Places To Retire for Great Weather
25. 26. Belgium
- Annual expenditures: $10,930.98
- Annual rent: $8,109.56
- Total annual cost: $19,040.54
How long it will last: 52 years, 5 months, 24 days
26. 25. Finland
- Annual expenditures: $10,788.98
- Annual rent: $8,190.50
- Total annual cost: $18,979.48
How long it will last: 52 years, 7 months, 25 days
27. 24. United Kingdom
- Annual expenditures: $9,765.08
- Annual rent: $8,931.42
- Total annual cost: $18,696.50
How long it will last: 53 years, 5 months, 12 days
28. 23. Sweden
- Annual expenditures: $10,479.57
- Annual rent: $7,985.04
- Total annual cost: $18,464.61
How long it will last: 54 years, 1 months, 12 days
29. 22. Germany
- Annual expenditures: $9,950.43
- Annual rent: $8,411.53
- Total annual cost: $18,361.96
How long it will last: 54 years, 5 months, 3 days
30. 21. Barbados
- Annual expenditures: $12,005.69
- Annual rent: $6,226.15
- Total annual cost: $18,231.84
How long it will last: 54 years, 9 months, 22 days
31. 20. Kuwait
- Annual expenditures: $7,522.99
- Annual rent: $10,266.92
- Total annual cost: $17,789.91
How long it will last: 56 years, 2 months, 3 days
32. 19. South Korea
- Annual expenditures: $11,234.41
- Annual rent: $6,496.99
- Total annual cost: $17,731.40
How long it will last: 56 years, 4 months, 9 days
33. 18. Italy
- Annual expenditures: $10,316.64
- Annual rent: $6,724.24
- Total annual cost: $17,040.88
How long it will last: 58 years, 7 months, 22 days
34. 17. Puerto Rico
- Annual expenditures: $9,986.30
- Annual rent: $5,746.74
- Total annual cost: $15,733.04
How long it will last: 63 years, 6 months, 7 days
35. 16. Panama
- Annual expenditures: $7,919.09
- Annual rent: $7,602.13
- Total annual cost: $15,521.22
How long it will last: 64 years, 4 months, 19 days
36. 15. Cyprus
- Annual expenditures: $8,727.74
- Annual rent: $6,450.29
- Total annual cost: $15,178.03
How long it will last: 65 years, 10 months, 1 day
37. 14. Spain
- Annual expenditures: $8,182.16
- Annual rent: $6,702.45
- Total annual cost: $14,884.62
How long it will last: 67 years, 1 months, 18 days
38. 13. Ghana
- Annual expenditures: $6,443.79
- Annual rent: $8,283.90
- Total annual cost: $14,727.68
How long it will last: 67 years, 10 months, 7 days
39. 12. Portugal
- Annual expenditures: $7,588.75
- Annual rent: $6,774.05
- Total annual cost: $14,362.81
How long it will last: 69 years, 6 months, 28 days
40. 11. Myanmar
- Annual expenditures: $7,183.68
- Annual rent: $7,147.62
- Total annual cost: $14,331.30
How long it will last: 69 years, 8 months, 22 days
41. 10. Taiwan
- Annual expenditures: $8,784.54
- Annual rent: $4,809.70
- Total annual cost: $13,594.24
How long it will last: 73 years, 6 months, 4 days
42. 9. Fiji
- Annual expenditures: $7,424.33
- Annual rent: $6,160.78
- Total annual cost: $13,585.11
How long it will last: 73 years, 6 months, 22 days
43. 8. Costa Rica
- Annual expenditures: $8,234.48
- Annual rent: $5,052.52
- Total annual cost: $13,287.00
How long it will last: 75 years, 2 months, 17 days
44. 7. Trinidad and Tobago
- Annual expenditures: $8,096.96
- Annual rent: $5,136.58
- Total annual cost: $13,233.54
How long it will last: 75 years, 6 months, 6 days
45. 6. Jamaica
- Annual expenditures: $8,436.27
- Annual rent: $4,594.90
- Total annual cost: $13,031.17
How long it will last: 76 years, 8 months, 6 days
46. 5. Uruguay
- Annual expenditures: $8,207.57
- Annual rent: $4,812.82
- Total annual cost: $13,020.39
How long it will last: 76 years, 8 months, 29 days
Take a Look: The Most and Least Tax-Friendly Countries
47. 4. Slovenia
- Annual expenditures: $8,096.96
- Annual rent: $4,921.77
- Total annual cost: $13,018.74
How long it will last: 76 years, 9 months, 3 days
48. 3. Mozambique
- Annual expenditures: $6,673.98
- Annual rent: $6,207.47
- Total annual cost: $12,881.45
How long it will last: 77 years, 6 months, 29 days
49. 2. Czech Republic
- Annual expenditures: $6,830.93
- Annual rent: $6,030.03
- Total annual cost: $12,860.95
How long it will last: 77 years, 8 months, 12 days
50. 1. Thailand
- Annual expenditures: $7,452.73
- Annual rent: $5,332.70
- Total annual cost: $12,785.43
How long it will last: 78 years, 1 month, 27 days
More From GOBankingRates
- 24 Ways To Make This Week’s Paycheck Go Further
- Here’s How Much Cash You Need Stashed If an Emergency Happens
- 100 Ways To Make Money Without a 9-to-5
- 21 Smartest Ways To Invest Your Money Right Now
Methodology: GOBankingRates analyzed 50 countries using Numbeo’s mid-year 2019 cost of living indices by country to find how long a $1 million nest egg will last in these countries. Numbeo’s cost of living indices are based on the cost of living in New York City, so first GOBankingRates found the annual expenditures for a single person without rent in New York City and the annual cost of rent for a one-bedroom apartment in New York City. GOBankingRates then took those expenditures and adjusted them to each country’s cost of living without rent index and rent index sourced from Numbeo’s mid-year 2019 cost of living indices by country. These two factors were combined to give each country a (1) total annual expenditure which was then divided by one million to calculate (2) how long $1,000,000 will last in each country. All data was collected and up to date as of Aug. 29, 2019.
About the Author
John Csiszar
After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.
