Retirement is a big deal. More often than not, people anticipate their retirement days especially after many years of working. Retirement as you may know, does not just happen in a blink of an eye, it is always better to plan as it’s one of the few ways you get to enrich your life at a lower cost.
Most times, several considerations need to be in mind when it’s time for retirement. From where you’d retire to (if you choose to retire abroad), to the cost of living, social security, health care, weather, and much more. There’s always a need for proper retirement planning.
If you are one of those who is considering retiring abroad, you’ll need information and lots of it. But more than just having information, you’ll also need guidance on interpreting the information you have. Although, it’s no news that most people tend to retire in the U.S.
From the rural countryside to tropical escapes, here are 5 of the best countries to retire this year outside the U.S., starting with the very best.
Panama
It’s no surprise that Panama is sitting at the top of this list. As some will say, the only constant thing with life is change. As accurate as this may sound, in Panama, you’ll realize that some of the best things in life stay the same.
When it comes to general benefits and values, Panama is quite difficult to beat. It is ideally situated between the Caribbean and Pacific oceans and between North and South America. It’s home to a warm tropical climate, beautiful beaches, and its very obvious eponymous canal.
Its geographical position keeps it entirely away from the hurricane belt. Although it has high humidity, it is still one of the regions with sunny destinations.
Panama offers several retiree benefits, which include discounts on everything. From hotel fees to entertainment medical expenses, but to mention a few. Generally, compared to other countries, including the U.S, Panama has a low cost of living.
There is also a reliable power supply, clean and drinkable water from the tap, high-speed internet, and outstanding mobile phone service. Traveling within the country is relatively easy too.
Healthcare services in the country are not just excellent but also affordable. No matter where you stay in the country, rest assured you can access several excellent hospitals in less than an hour. More so, Panamanians are pretty friendly. Therefore, retirees can feel at home the moment they arrive.
Furthermore, the country uses the U.S dollar, and there are several English speakers, especially in the medical sector. Not forgetting the Tocumen international airport that also makes it easy to fly to almost anywhere in the world – most often with no layover. It’s such a win-win.
Costa Rica
It’s no news that many Americans flock to Costa Rica all year round. The secret to its popularity has long been revealed. Its breathtaking ocean views to fantastic biodiversity, very warm topographic weather, low cost of living, excellent and affordable medical care, large real estate options, and many more.
Costa Rica offers universal healthcare to all its residents (local and foreigners alike), which includes free emergency care and a free or almost free medical prescription. It is situated between Panama and Nicaragua.
A region that’s often plagued by political and civil unrest. However, it may interest you to know that Costa Rica is one of the most stable and safe countries democratically.
Asides from visiting, the country has given many people especially retirees many reasons to stay. It also offers a stress-free residential program to ensure safety and security to locals and foreigners providing a subtle laid-back life.
Furthermore, it is possible to live comfortably in the country with just $2,000 a month – beat that! Markets constantly teem with fresh foods from seafood to tropical produce. In Costa Rica, you’ll also find towering volcanoes, exotic wildlife, lush green valleys, national parks, but to mention a few. For all these reasons and more, expats and retirees have discovered the beauty that is Costa Rica.
Portugal
It is no news that this tiny country situated along the shores of the Iberian peninsula, in the southwest corners of Europe, has topped the charts for some of the best places to retire outside the U.S.
Its average cost of living has made it so popular with retirees. In Portugal, you can live comfortably for less than $1,500 per month. The country has also made it quite easy to apply for a residential visa. They offer non-habitual residential programs with no tax on foreign retirement income such as a pension.
In addition, Portuguese people are quite friendly, warm, and known for their welcoming behavior. Plus, you’re likely to get the best healthcare services with quality healthcare insurance given to retirees. Security is also top-notch as it is one of the safest countries in the world.
They speak some English too, so getting by won’t be such a hassle. If you’d love to retire to a place surrounded by good people, great food, a good climate, and a proud culture, Portugal is such a great choice.
Colombia
If you have been looking for the perfect place for retirement, trust me, you’re not alone. Everyone is looking for their slice of heaven for their “best to come years” after retirement.
Fortunately, Columbia ticks all the boxes for those who would like to live in a place with great health care, top-notch security, low cost of living, reliable power and water, proximity to Canada and the U.S, and amazing climate options.
Being the gateway to South America, Colombia is the perfect place to call home. It’s also the second most biodiverse region in the world. This means that what you pack depends on where you’d like to live.
Compared to other countries in Latin America, Columbia is a more developed country. People who decide to retire to Colombia get to bird-watch and have a taste of the world’s best coffee. As the most popular Spanish-speaking South American country, Colombia has become more popular with retirees and expats alike.
Mexico
Mexico has proven to be the retirement heaven for both Canadians and Americans in more ways than one. It is popular for so many reasons.
It has incredibly warm weather, a low cost of living, an eminent governmental system that ensures the safety and security of everyone, quality and affordable healthcare, high-speed internet, great cell phone services, reliable water and power, good roads, and brands you are used to.
It is also neighbors with the U.S as you can get through by driving or taking a direct flight through one of its numerous international airports. More so, it’s such a vast country (more than two times the size of Texas).
You don’t necessarily need to figure out everything at once. This means that there’s a large variety of lifestyles, climates, landscapes, and cultures, meaning that there’s a place for everyone in the city of Mexico. Furthermore, Mexicans are pretty nice and friendly.
Even though it’s a great idea to learn Spanish, you won’t need to be fluent to get by comfortably. The cost of living is also affordable. However, it’s tied to your lifestyle and habits. Nonetheless, a retired couple can live comfortably for around $2,000 monthly.
Conclusion
Deciding what country to retire to outside the U.S can sometimes be a hassle. Hopefully, with this article, we’ve been able to narrow your options to 5 of the very best countries you can look into. Certainly, the destinations mentioned above will match what you’re looking for in a retirement lifestyle.