Many U.S. Armed Forces veterans face a lifetime of tight budgets after retirement from active service. They may earn a combination of veterans’ benefits, perhaps disability, and wages from civilian work. But it can be challenging to cover expenses while living on a fixed income and often dealing with significant health and other challenges — all while the cost of living goes up and up.
That hasn’t been the case for 36-year-old Air Force veteran Markeiz Ryan, who found a novel way to live very well on a modest income: moving to Vietnam.
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Ryan joined the Air Force soon after graduating high school, after his mother lost her job and his family faced financial struggles due to the 2008 financial crisis. He served from 2010 until he was honorably discharged in 2019.
He visited Vietnam while in the military, had a fantastic time, and started making plans to return right away.
Now, has followed through — and he’s living comfortably on $4,000 per month and loving it. Moving to a lower cost-of-living area is a frequently given piece of advice for those looking to find more room in their budgets — but this is a pretty extreme version of that. Is moving abroad a good option for you if you are frustrated with the high cost of living in the United States?
The upsides of inexpensive expat life
Ryan explained to CNBC that he collects $1,500 per month in disability benefits from the VA, along with another $1,000 monthly in GI Bill benefits, as he is currently working on earning a master’s degree.
In addition to this, he earns $900 to $1,300 per month from his job teaching English, and makes an occasional $200 to $600 monthly from other work. Day trading adds another $300 to his monthly income on average, giving him an average of about $4,000 per month to live on.
“This might not sound like a lot in America, but trust me, this is more than enough to be middle- or even above middle-class in Vietnam,” he told CNBC, explaining that his apartment is $850 monthly, utilities are $130, health insurance is $1,000 per year, groceries are $100 to $400 per month, and gas for his motorcycle is just $3 weekly (1).
Best of all, unlike in the U.S., where he used to feel overwhelmed with all he had to do and could not afford to work fewer than 40 hours a week, he’s out of survival mode in Vietnam and able to pursue self-improvement.
Cost of living in Vietnam vs. the US
It’s not a surprise that Ryan feels better financially in Vietnam, as International Living reports that the majority of purchases will run you less than half of what they do in Western countries, and that most people can live a life of luxury on $4,000 (2).
Numbeo, which publishes its numbers from user-generated data, also reports dramatic differences between the U.S. and Vietnam. Cost of living is about 61% lower in Vietnam, and across categories most things are cheaper: a meal in an inexpensive restaurant is around 91% cheaper; utilities are around 67% lower, childcare is 82% lower, and rent for a one-bedroom apartment is 79% lower.
Travel site Frommers also reports that "Prices in Vietnam are famously low” (3). As of Oct. 21, $1 USD equals 26,343 dong. Given that Numbeo reports that a meal in an inexpensive restaurant costs just 50,000.00 dong (less than $2 USD), while a basic mobile phone plan with unlimited calls and 10 gigabytes of data costs 150,583.50 dong per month (less than $6 USD), that makes Vietnam an extremely inexpensive place for Americans.
Unfortunately, while life may be great for Ryan, there are some valid concerns about whether Vietnamese local residents are being priced out of a booming property market. As of the second quarter of 2025, for example, housing prices in Hồ Chí Minh City had gone up 48% over six years, while prices in Đà Nẵng were up 70%, according to a report from The Vietnamese Magazine.
Sadly, the publication reports, the new properties being built are primarily luxury housing with prices that are too high for locals — and especially young people — because the units are marketed towards people like Ryan who benefit from the extra buying power that comes from being paid in a stronger international currency. This is putting home purchases out of reach and even leading young people to delay parenthood (4).
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What to consider before moving abroad
While moving abroad worked out well for Ryan, that may not be the case for everyone.
For one thing, Ryan gets most of his money from the U.S. government, which provides him with benefits thanks to his military service.
If you don’t get these types of benefits, you’d likely either need a job with a U.S. company that offers remote work and lets you work in your country of choice, or else need to get permission to work locally. This would mean you need to get a work visa (5). This is typically tied to your job, and if you lose your job, you could lose the work permit.
Anyone considering moving abroad needs to be aware of specific requirements in their chosen country, as there are rules for both who can enter and who can work there. You also need to think about other financial issues, like the fact that not all foreign banks allow U.S. account holders to open a bank account, because of regulations like the Foreign Account Tax Compliance Act (FATCA) (6).
So although the cost of living may be low in many areas, getting permission to live in them, work in them, and maintain a bank account in them isn’t always easy. You’ll also want to consider how challenging it will be to learn the language and culture, so you can become part of the community in your adopted home. Plus, you’ll need to understand the rules for:
- Whether you must continue to pay U.S. taxes and/or pay taxes in your new country
- When and how you can become a citizen if you’re interested in doing so
- What the rules are for working in the country
- What the rules are for opening a bank account
- What the quality of medical care is, how health insurance works, and whether you can become eligible for national health insurance if the country has a government-run system
- Whether you are allowed to own property
These are just a few of the key factors that will determine if moving abroad is possible. If you want to maintain connections to family and make new friends, you may also want to look into travel costs back to the U.S., what proportion of people in your chosen country speak your language, and how difficult it is to learn the local language.
Of course, if you have children in school, the quality of local education is going to be a factor as well.
What should you do if you can’t leave the US?
Ultimately, while living abroad may sound nice, it is definitely not doable for everyone. If you will be staying in the United States and want to get out of survival mode, there are ways to do that. You could consider:
- Choosing one of the areas in the U.S. that has a lower cost of living
- Trying to keep fixed costs low, as it is harder to sustain regular limits on discretionary spending. For example, it’s easier to rent a cheap apartment than to give up your daily coffee and weekly lunch out for decades
- Considering unconventional options, like getting a roommate or setting up multigenerational living in a shared home with parents if you cannot afford to buy a home of your own
- Working a side hustle to bring in enough extra income to live comfortably
- Saving up an emergency fund by moving at least a small amount to savings each month to break out of living paycheck to paycheck
- Looking for simple ways to cut spending, such as by shopping at thrift stores and packing your lunch instead of dining out.
Living like royalty on a small sum isn’t possible in the U.S., so carefully consider whether moving abroad or cutting your costs is going to make you the happiest as you decide how to manage building a happy life on a limited income.
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Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
CNBC (1); International Living (2); Frommers (3); The Vietnamese Magazine (4); Vietnam Briefing (5); Internal Revenue Service (6)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.