It’s never too early to start thinking about retirement. Many people are finding themselves a little short of retirement funds today, but that’s not necessarily a bad thing; it’s always possible to compensate by reducing your expenses. Moving abroad can help you get the retirement of your dreams.
Here are a few of the places that are considered to be the best to retire.
Panama
Panama is often considered to be the best place in the world to retire. Not only is it very close to the United States, but it’s safe, comfortable, and affordable. Panama has created a number of retirement resorts and resort cities, which means that retirees have everything that they need close at hand.
The advantages of Panama include:
- Excellent healthcare
- Business conducted with the U.S. dollar
- English-speaking citizens
- Beautiful beaches and fantastic weather
However, there’s a downside to all that splendor: Panama is one of the more expensive options if you’re moving abroad to save money. While it is more affordable than the United States (especially in terms of the food and medical care), it’s more expensive than some other countries.
Mexico
While you need to select the right place within Mexico to really see the benefits, Mexico remains a top retirement destination. Areas such as Cancun are perfectly safe, as well as decked out to take care of tourists and retirees. Mexico has the advantage of:
- Proximity to the United States
- A significant variety in property
- Extremely low cost of living
- Friendly locals
The primary downside to Mexico is that there are areas of Mexico that are less developed and less safe. As you live there, you’ll begin to learn where these locations are and how to avoid them.
Ecuador
Considered to have some of the best weather in the entire world, Ecuador is perfect for those who want to be able to enjoy the outdoors all year. Ecuador has everything from mountainous hikes to leisurely beaches, and it’s one of the more affordable places in which to live. There’s a strong service-related industry, and land is cheap. A few of the core advantages include:
- A varied landscape from mountains to beaches
- Superb and affordable food
- Cheap property
While a welcoming community, Ecuador isn’t quite as popular a retirement area as the others on this list. Because of that, Ecuador may not have as extensive a retirement community as some locations such as Cancun, Mexico. However, for adventurous retirees and retiree couples, exploring Ecuador may be an excellent option.
Malaysia
A popular vacation destination, many people are also choosing to retire in Malaysia. Safe, comfortable, and friendly, Malaysia has the benefit of delicious food and a low cost of living. If you love the atmosphere in Malaysia, you’ll love retiring there.
Benefits of Malaysia include:
- Attractive beaches and scenery
- Affordable and delicious food
- Very low costs of healthcare
At the same time, Malaysia is only ideal for those who love the Malaysian culture, which can be very different from traditional American culture. Those who are interested in retiring abroad may want to consider a few thorough visits before they commit.
Spain
Spain is a little more expensive than some other retirement options, but there’s a reason it’s considered to be a great choice. Apart from the gorgeous buildings and fantastic food, Spain is a place of culture and history. Some of the primary advantages include:
- A friendly and welcoming culture
- Delicious and affordable food
- A safe and relaxing atmosphere
The major downside to Spain is that it is more expensive than many other countries for retirement. However, there are reasons many British citizens and American citizens have chosen to make it their home. If you absolutely love Spain, know that a retirement in Spain is likely to be more affordable than a retirement virtually anywhere in America.
There you have it: the best places in the world to retire. Of course, there are many places in America that are suitable as well, but these locations tend to have more affordable healthcare options, as well as a better general cost of living. Just don’t forget to check in with your accountant and attorney before you move to make sure you’ve done everything on the up and up.
Regards,
Ethan Warrick
Editor
Wealth Authority
