A ranking by GoBankingRates lists South Africa as the cheapest country to retire in, compared to the cost of living in New York City. The top five cheapest countries to retire:
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1. South Africa
South Africa is the cheapest country to live or retire. It’s also the world’s largest producer of platinum, gold and chromium, which goes far to enrich the country and its economy. This resulted in a local purchasing power that’s significantly higher than what New Yorkers face, which is the most favorable factor that puts South Africa at No. 1.
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