Top 5 Low Cost of Living (LCOL) Destinations – #1

Ok, this is the moment you’ve been waiting for, the #1 low cost of living destination for your retirement or financial independence needs. The Fire Fellow won’t make you wait any further.

#1. Vietnam

When you hear the name, Vietnam, I’m sure what might come to mind is the tragic war of the 50s to 70s. Well, get over it because they have and have built a country which is now one of the fastest growing economies in East Asia. Vietnam is a country of many contrasts. On one hand there are the modern, bustling cities like, Nha Trang (don’t try and pronounce) or Hanoi while on the other hand, there are the quaint, traditional towns like Hoi An. One thing is certain, wherever you go, the people are friendly and welcoming. And the food is quite interesting. Their recipes are spicy and very unique.

Beautiful countryside

This country also boasts a beautiful countryside and beaches that are slowly becoming renowned. As an expat, two of Vietnam’s ideal cities to move to are the capital Hanoi or the resort city of Nha Trang. What’s it like?

Well, Vietnam is home to 54 (that many?) different ethnic groups with the most populous being the Kinh people. Trust me, it’s just their names that are difficult, these are simple people who love guests. It’s part of their culture to be welcoming. Be ready to enjoy a considerable amount of sun with a high humidity. However, when it rains, it rains.


Cost of Living

Vietnam’s cost of living is 47.16% lower than in the United States with rent being 62.67% lower than in the US. You get to pay a much lower rent by moving outside the cities to the suburbs. Food is also very cheap. For instance A liter of milk costs roughly $1.34, a 500 gram loaf of bread costs $0.66 and a packet of rice is just $0.74. Combine the affordability, hospitality if the people and the beauty of this country and you have a wonderful place you can consider relocating to.

As usual, if you have any questions, Ask the Fellow!


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