This MarketWatch article is a good read for a couple of reasons. First, it show that people do in fact retire to other countries, including Mexico. The woman in the story wrote a book about it! And, second, to provide an example on how people have “retired” on a budget much less than what many say a person needs. Are there sacrifices she has had to make- yep. Is she happy- certainly.
What is your dream location to retire? Could you live on much less than you currently do and still be happy?