Why desire the Eiffel Tower or the Amalfi Coast when you can enjoy the Rocky Mountains or the Great Lakes?
A new study from the College of New Hampshire uncovered an incredible movement. Between April 2020 and July 2022, provincial America’s population grew at a 0.4% rate, nearly double that of metropolitan regions. A Money Road Diary piece appeared on the report, which featured seven retired persons looking for greener pastures.
As a result, how can rural life in the United States compete financially with living in a European metropolis like Lisbon, Portugal, which may cost you $15,000 per year? The comments might surprise you — or, as the Portuguese say, “Que choice!”
Rural versus Europe
With the obvious, the United States is not experiencing an exit to the sticks similar to crossing the Atlantic. Starting around 2024, more than 760,000 Americans living abroad will get $7.5 billion in annual government-managed retirement payments. In 2022, that figure was 700,808 for each government-backed retirement organization. Franklin Templeton estimates that 38% of those retired people relocated to Europe, which equates to 288,000 people.
Romania, Portugal, and the Czech Republic are among the most well-known and affordable European countries, requiring monthly spending plans of $821, $1,286 and $1,199, respectively, as stated by Total Population Audit.
Regarding elderly persons interested in America’s vast expanses, you can certainly make ends meet if you’re fortunate enough to own a modest home in a region with a low cost of living. Furthermore, you could find a decent plot of land near a little village with a postcard-worthy central boulevard and nightfalls right out of a Bounce Ross painting.
However, there is a trick: In a vast chunk of the country, the atmosphere of politics in provincial districts has become red. The Seat Exploration Center estimates provincial GOP partisanship at 60%, up from 51% in 2019. On the other hand, metropolitan networks are 60% leftist.
Five Different Ways Rural Retirement Beats Europe
Overall, rural retirement is tough to beat, with the following five reasons:
- There are no excessive traffic jams. According to the INRIX 2023 Worldwide Traffic Scorecard, drivers in the Boston area spend 88 hours per year locked in rush hour gridlock, which is more than two working weeks. They also spend $1,543 on transportation costs. In Paris, it’s considerably worse: 97 hours, or 10% extra time. The fact that it is applicable to any rural United States makes it undeniably accurate. The district allows you to paw back every dollar and moment, unless a wild critter or animal gets in your way.
- Lower local taxes. In Portugal, provincial residences purchased for $350,000 are charged $2,800 per year. While there are no yearly local taxes in the United Kingdom, purchasing a $350,000 home will incur 7% stamp duty (about $21,000). Compare that to Harding District, New Mexico, Sioux Region, North Dakota, and McDowell County, West Virginia, all of which have median local costs of less than $300, according to the Public Duty Establishment.
- There are no language barriers. Although Romania and the Czech Republic have become trouble regions for ex-patriots, neither Romanian nor Czech students are taught in state-funded institutions in the United States. Without a solid understanding of these dialects, rural areas, vernaculars, and accents pose an additional challenge for Americans attempting to adjust to life overseas.
- Absolute lowest home costs. Depending on your proximity to major urban areas in the United Kingdom, France, and the Netherlands, you may be unable to purchase a home with your limited reserve cash. As of early October, advertising in Canterbury, New Hampshire offers four rooms, three showers, and approximately 13 pieces of land for a clean $300,000.
- In North America, you can have it two ways. Do you need to leave the United States in any case? Canada boasts breathtaking views that are among the best in the world. Brilliant, English Columbia, with a population of 4,000, was recently awarded one of the country’s best little towns, thanks to its enticing downtown and six public transportation options nearby. Except if you’re longing to return to America. Overall, the distance between Spokane, Washington and Missoula, Montana is only eight and seven hours, respectively.
Share this content:
