Retirement abroad is becoming more and more popular. According to the Social Security Administration, more than half a million people living outside the United States receive social security benefits. If you are considering moving abroad, you should find out what options are available to you. Fortunately, International Living’s Global Retirement Index lists the best countries for people wanting to retire. In this article, you will find eight of the best countries for your retirement.
1. Costa Rica
A mild climate, breathtaking landscapes and pristine beaches attract retirees to Costa Rica. The country welcomes expatriates and offers a simple residency process. With a monthly income of at least $1,000 per month from social security or a similar source, expatriates enjoy a high standard of living at a fraction of American costs.
2. Mexico
Because of its proximity to the United States, Mexico attracts more than one million pensioners to its borders. Successful expatriate communities enjoy living by the sea and talking to English-speaking locals. In addition, legal residents over 60 years of age benefit from discounts on airline tickets, groceries and restaurants.
3. Panama
Beautiful beaches and a thriving economy attract retirees to Panama. An income of $2,000 per month covers a modest cost of living. Ocean breezes provide a way to avoid hot temperatures all year round. In addition, an active expatriate community gathers for music festivals, films and outdoor adventures. In addition, the country offers discounts to pensioners holding a Pensionado visa.
4. Ecuador
Lazy coastal cities, sun-loving hot spots and panoramic views of nature await expatriates looking for a carefree lifestyle. It is one of the few places where you can choose a climate by migrating up or down at altitude. In addition, public transport costs in Ecuador make it unnecessary to own a vehicle. A bus trip costs only $0.25 and a taxi trip costs about $3.
5. Malaysia
Retirees who choose to settle in Malaysia will appreciate its rich culture and exotic landscapes. In addition, the country offers modern amenities at bargain prices. Expatriates appreciate the convenience and comfort of being in Malaysia. You will find cheap rental units, delicious street food and spectacular shopping malls.
6. Colombia
Retirees seeking a high standard of living at a low cost will find a suitable place to retire in Colombia. A monthly allowance of $1,700 to $2,200 allows you to rent a high-end apartment, take advantage of cleaning services and still have funds for groceries and other activities. In addition to perfect weather all year round, retirees benefit from low utility bills.
7. Portugal
Retired people flock to Portugal for its warm climate, amenities and residential options. Ranked as the third safest country in the world, it is a hub for the expatriate lifestyle. Not only can couples live comfortably on a budget of $1,500 per month, but they also have access to excellent health care.
8. Nicaragua
Nicaragua offers a multitude of opportunities and adventures. Retirees are attracted to this beautiful destination because of its tropical climate and the warm welcome of its expatriate community. In addition to the low cost of living, the government offers incentives to foreign pensioners. As a retiree, you will benefit from all the money earned outside Nicaragua, tax-free.
