Wednesday , 7 December 2016


Get Ready! Here Are the World’s Best Retirement Destinations

Loll in the lap of inexpensive luxury at any one of International Living’s 10 best retirement-planning-300x300places to retire in 2013: North America (1); Central America (2); South America (3); Europe (2); Asia (2)  Words: 1155

So writes Brandon Miller (www.theloop.ca) in edited excerpts from his article* entitled The world’s best places to retire.

This article is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.

1. Ecuador

It might not be South America’s flashiest country, but Ecuador… is the top retirement destination in the world – from a financial perspective, at least. The savings start with your move – you can import household goods duty-free – and continue on to permeate everything from health care to food consumption.

According to International Living a dinner out costs only $2.50 (US), an hour-long massage costs $25, and a beer costs $0.85. At that price, you might choose to be drunk for the duration of your golden years!

Great hospitals and low costs for procedures, prescription drugs, and doctor visits make Ecuador a practical retirement haven for…the elderly.

The fact that a couple can live well on about $900 (before rent) is almost unimaginable to many. Ecuador has great weather, tropical beaches, and opportunities for part-time work. Plus, senior citizens can cut in line at the store – and that’s definitely…[another] reason to move…[to Ecuador]!

2. Panama

The Republic of Panama is just over 75,000 square kilometers full of beautiful people, beaches, and rainforests. There are many English speakers in Panama, and the currency…[there] is the American dollar.

Perhaps the best reason to settle in Panama is the discounted living. The pensioner visa – known as the Pensionado – offers a speedy residence to foreigners looking to retire in the country. When they arrive, retirees are entitled to local discounts that make the move worth the cost – 10% to 15% off of doctor consultations and prescription drugs, 25% off at restaurants, and 50% off of admission to movies, theatres, and other entertainment and events.

3. Malaysia

…There are numerous reasons why one would want to put down roots in this multi-ethnic, multi-religious Southeast Asian nation.

According to International Living, a couple can rent a sea-view apartment for $1,000 a month, eat a three-course meal at a restaurant for $10 and have your house cleaned…for a grand total of $12. Sure, it’s far from home, but you’d have plenty of money for airfare if you were living this cheaply.

4. Mexico

…Retiring in Mexico means leaving the country and living cheaply, but also staying inside North America, which is pretty cool.

The…nation offers affordable health care, entertainment options, and rent. International Living reports that retirees can rent a mid-size house for the shockingly low price of $800 a month and a larger colonial home or beachside apartment…[for only] $1,500 in rent…

5. Costa Rica

…Sometimes referred to as the “Switzerland of Central America,” the country is a fantastic retirement option….Great climate? Check. Cheap health care? Check. Easy entry into the country? Check!

To become a pensionado, one needs to receive $1,000 a month from a pension or Social Security.

6. Uruguay

Good infrastructure, a naturally beautiful landscape, and a low cost of living are just some of the benefits of retiring in Uruguay, a small (about 3.4 million, as of 2011) and friendly South American nation.

The country scores particularly high in the area of arts and entertainment, as well as health and climate but, really, it’s the low rent and way of life that have people flocking there. In fact, Uruguay’s capital city, Montevideo, was named the second least expensive city in the world by Mercer HR Consulting a couple of years ago.

How does a modern lifestyle for an antiquated price sound to you?

7. Colombia

…In April of 2012, Time magazine ran a cover story declaring “The Colombian Comeback,” and there is no shortage of reasons why one would want to live in this South American nation.

The gorgeous ecological makeup of Colombia brings with it opportunities for entertainment, healthier eating options, and consistent year-round beautiful weather. If nature isn’t your bag, the cost of living is extremely affordable. In Medellin, for example, bus fare is 70 cents, a cab costs 3 to 5 dollars, and according to International Living, a modern condo in an upscale neighbourhood can be purchased for as low as $85 per square foot.

If you can get over what you may have heard about Colombia in the past, Medellin and its other cities are a fantastic retirement option.

8. Spain

Spain is known for its diverse but moderate climate, its abundance of art and entertainment options, and for reasonably priced accommodations – at least relative to First World nations and it’s not just International Living that puts Spain atop the best retirement spots, either. AARP The Magazine has also declared Spain as one of the best places to retire, citing things like its historic cities, lack of sales tax, and low property tax as reasons.

While Spanish health care is good, and cost of living is decent, it is not as cheap to live in Spain as it is to live in some of the other countries on this list. According to AARP, expat couples report living comfortably on about $25,000 US per year.

9. Thailand

Depending on where they settle in Thailand, retirees could be surrounded by other expats. In Hua Hin, for example, nearly 20% of permanent residents are from abroad.

There’s a bevy of reasons why they might have come – things like the striking beaches, cheap medical procedures, and the abundance of affordable housing (a furnished two-bedroom on the beach will run you $800 – $1,000 a month).

English is widespread, crime is low, and, if you’re a golfer, this is probably the locale for you because there are no less than 9 golf courses in Hua Hin. It’s close to Bangkok and big city culture – but without the city lifestyle – and a couple can live comfortably on as little as $1,100 a month.

10. Malta

Malta is one of only two European countries on this list. Still, if you’re keen on settling in Europe, Malta is a fantastic retirement option. The weather is one draw – the island nation has over 3,100 hours of sunshine a year. Other reasons to consider Malta are the low crime rate, English as a major language, and a lack of property taxes.

If you plan on having income in retirement, Malta is a fantastic option [because] income from work undertaken outside of the country is not taxed unless remitted into Malta.

The 90-minute ferry service to Sicily makes travelling easy not that anyone would want to leave their home base very often if it were square in the middle of the Mediterranean Sea.

Stay connected!

Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.

*http://www.theloop.ca/living/money/life-events/photo-gallery/-/p/5304/the-loop-photo-gallery-money-rrsps-best-places-to-retire#ad-image-9

Related Articles:

1. Retiring? Here are 9 Countries in Asia Worth Considering

More and more retirees are looking to retire abroad where the sun shines almost daily, the weather is temperate, the lifestyle is enjoyable and the cost of living is a fraction of their current expenses. Have you ever considered Asia? This infographic compares the cost of living, lifestyle and personal safety of 9 countries worth considering. Words: 999; Photos: 5

2. The 10 Best Places to Retire in Mexico

As an artist who is neither a real estate salesperson nor a travel agent pushing an agenda, I feel it’s time to look at the very best places in Mexico to retire with real pro’s and con’s so the reader can really make an informed decions on where to go that serves their needs, interests and ambitions. Read on!

3. The 5 Best Retirement Cities in Asia

For an East Asian retirement destination that won’t leave you in complete culture shock 5 cities in particular satisfy the ‘expat criteria’ – widely spoken English, convenient transportation, modern shopping conveniences, friendly people, and great food. Below is a description of what these convenient and charming cities have to offer. Words: 999; Photos: 5

4. Mexico Is One of the 10 Best Countries to Retire In – Here Are the Other 9 and the Reasons Why

Rising costs in the U.S. are driving more people to consider retirement in less expensive locales and the list of potential resting spots is long and varied. International Living compiles annual lists on the best places to retire based on things like cost of living, ease of entry, healthcare, insurance and access to amenities. [Below are their top 10.] Words: 950

5.  5 Places to Retire and Rent for Less Than $500 Per Month

Housing is likely to be one of your biggest retirement expenses. One way to approach your search for the ideal overseas retirement haven is to focus on retire-overseas choices where housing is cheap. [Below I present five such places for your consideration.] Words: 1040

6. Canada is a Great Place to Retire – Here’s Why

While [Green Valley] Arizona, [Naples] Florida, [Ajijic – Mexico or Mendoza – Argentina,] or some hidden island in a foreign land, might seem like the dream place to live out the end of one’s life, it turns out that Canadians just might be better off at home [and Americans and others should seriously consider emigrating to Canada sooner than later]. Here is a brief summary of the reasons why. Words: 842

 

Welcome to the new model of retirement. No retirement. In 1983 sixty two percent (62%) of American workers had some kind of defined-benefit plan. Today less than 20% have access to a plan. The majority of retired Americans largely rely on Social Security as their de facto retirement plan [and the 35 and younger cohort are not able to save, or save enough, to eventually retire. True retirement is now a thing of the past except for a privileged few. Let me support this claim.] Words: 1091

8. Secure Your Golden Years – Now! Here’s How

Americans spend more time planning their vacations than their retirement and this is the reason why 1 out 7 baby boomers are going bankrupt. With people living longer and spending as much as 30 years in retirement, if you want to maintain a moderate standard of living, it is essential to plan your retirement well in advance to secure your golden years. This article outlines 6 ways to do just that. Words: 665

9. Is $1,000,000 Enough to Provide for a Successful 30-year Retirement?

Withdrawing from a $1,000,000 nest egg upon retirement using the familiar 4% rule to generate a successful 30-year inflation-adjusted (3% per annum) retirement proved to be totally inadequate as per the retirement withdrawal strategy that I put forth in a previous article (1). In fact, it crashed and burned in year 25 of the 30-year plan! In fact, as I show in this article, it will only succeed if your portfolio outperforms the S&P 500 by 5% every year for 30 straight years – and what is the likelihood of that? Words: 153310. AARP Survey: Golden Years Appear Grim to Aspiring Retirees

An AARP survey of over 5,000 American workers aged 50 or older has confirmed…that the Great Recession has radically changed the financial situation for many aspiring retirees and that the outlook for their golden years now looks grim. It seems that counting on their home equity to finance a life of leisure didn’t exactly work out as planned. [Let’s review the survey’s findings.] Words: 400

11. 10 U.S.Cities With Great Weather for Retirees

Everyone’s interpretation of ideal weather isn’t the same – some want to spend their golden years soaking up the sun, while others prefer a place where they can be near ski slopes. That said, if you’re looking for what most of us would consider pleasant weather—places with plenty of sunshine, low amounts of rain or snow, fewest days below 32 degrees or above 90 degrees and low humidity—these locales came to mind as 10 of the best places [in the U.S.] to retire if weather is your main concern. Words: 585

12. Retiring/Want to Move? Here Are 7 Sites to Help You Research the Weather Throughout the U.S.

Weather and climate are important considerations for most people when they think about where they might retire. This short article provides you with 7 internet resources to research the weather wherever you might be considering moving or retiring, so you can make the best choice. Words: 380

3 comments

  1. I predict that most folks that have the financial means to pick where they want to retire will in the future actually have a “base” in a convenient tax haven and then travel around to whatever location happens to have good weather and is currently safe. No longer will these people be tied to one physical location unless they have health issues at which time they will forced to pick a location that also has good health care available. The lucky north Americans still in the middle class are learning from the Ultra wealthy and are seeking tax shelters outside the USA and/or Canada because they want to maximize what money they do have when they retire.