An Australian boomer retired in Thailand on an $18,000 annual pension. He saves almost half his income and can still travel the world.

• John Walker, 73, moved to Thailand from Australia for retirement.
• Living on an $18,000 annual pension, Walker saves 40% of his income due to low expenses.
• Millions of older adults on fixed incomes chose to retire abroad for more financial freedom.

John Walker's studio apartment in Chiang Mai, Thailand isn't much bigger than a hotel room, but it has everything he needs: air conditioning, basic kitchen appliances, and proximity to his favorite Mexican restaurant — all for less than $200 a month in rent.