2. Reduce your Cost of Living.
There are many places you could choose to live in if you are considering reducing how much things cost. For many retired individuals, a fixed income means that they must pay extra attention to the cost of living. This includes the cost of food, shelter, and the necessities needed around you and if you are looking to reduce this, then Puerto Rico may be for you. The cost of living in Puerto Rico averages about 11 percent lower the cost of living in the U.S., which depends on where you reside in the U.S. For those who live in New York, the cost of living could mean a drastic change when living in Puerto Rico, which means your money goes much farther than it would in the contingent U.S.