Newsletter
Live Better for Less: The Best Places to Retire In the World
Date: 11/10/2009Are you daydreaming about retirement? Are you wondering where the best places to retire are? And perhaps worrying if you’ll be able to retire at all? (Who isn’t concerned about the value of their nest egg these days?)
I have good news for you. If you’re wondering where to retire, there’s a place that’s perfect for you…no matter your financial circumstances and no matter what kind of lifestyle you’re looking for. By the way, there’s a “perfect place” out there that’s just right for you. We’d like to help you find it.
To get you started on your path to a fuller, more luxurious retirement…no matter how small your retirement income…we’d like to send you a copy of our FREE Special Report, “Find Your Perfect Retirement Destination.”
You’ll learn about the top five countries to investigate, and you’ll discover International Living’s top five picks within those countries. And don’t worry–you probably haven’t heard of most of these, but they’re all safe, attractive, and your dollar goes a long, long way. Imagine watching the sunset over the ocean every evening from your own beachside home.
Get your FREE Special Report right now, and start down the path to easy retirement living, just by signing up for our free daily International Living e-letter.
A true story…
Lee and Peggy Carper retired recently at ages 56 and 53. He was a house painter and she was a pharmacy tech. Lee was forced to quit working after an injury and they wondered how they would make ends meet.
They’d need to live on a Social Security income…a small amount of money. They knew they’d have to find a place where the cost of living was even lower than in their small hometown in North Carolina. But they didn’t want to give up the lifestyle they enjoyed there. Where to retire in comfort? Lee began the research to find a place where he and his wife could live happily and where their nest egg would stretch as far as possible.
He bought books in the bookstores and scads of where-to-retire magazines. And he searched the Internet, digging for information on the best retirement locations. He quickly realized that if he and his wife were to stay where they were their savings would soon run out.
Where to retire? Friends had joined a tour of the Ecuador highlands offered by International Living contributors Gary and Merri Scott and had returned to North Carolina raving about the small town of Cotacachi and its affordability. Seventeen days later Lee was on a plane to check it out for himself. Thirty days after that, Peggy had sold their home and joined him there, along with their two dogs.
It just felt right, they both say. The town was small enough to walk everywhere, yet there’s “everything you need,” they say. “For us, it was the best place to retire.”
Best of all, Lee and Peggy’s cost of living plummeted and their quality of living rose. In Cotacachi, they rent a three-bedroom apartment for $150 a month. Their total monthly expenses – including a maid who cleans the apartment once a week -- rarely amount to more than $700:
- Rent $150
- Food $250
- Water $6
- Electricity $13
- Propane $7
- Medications $50
- Laundry $24
- Housecleaning $40
- Dog food $40
TOTAL: $580
Miscellaneous expenses rarely amount to more than $100 and include $2 haircuts, $2 manicures, $1.25 cigarettes, $7.30 cases of beer, 25-cent bus rides, and an occasional $10 doctor’s visit.
Of course, retiring in Ecuador isn’t for everyone. But if you’re at all concerned about stretching your retirement savings and affording the most luxurious retirement lifestyle possible, you should definitely consider retiring overseas.
In many countries, health care costs are free. And practically every country in the world offers lower health care costs that you’ll find in the U.S. Quality of care is high, too – no worries there. Other costs that are practically non-existent in many parts of the world include things like property taxes.
A friend in Cuenca, Ecuador paid just $117 in annual property taxes on his 3500 sq. ft. home. A couple we know in Merida, Mexico, paid just $118 for their 2008 property taxes on their 6400-sq.-ft. home.
So where are the best places to retire in style, comfort, and at very little cost?
Mexico: Mexico offers the perfect mix of centuries-old traditions and contemporary lifestyles – and it tops the list in the #1 spot on International Living’s Global Retirement Index.
It’s easy to get a residence visa. And the services, amenities, and discounts offered to retirees here are more than bountiful, as are the overall cost savings. Plus, for Americans and Canadians, Mexico is close to home. Because of its geographic diversity, you can choose your favorite climate: from warm and dry to warm and sultry to spring-like temperatures all year in the Colonial Highlands.
If you’re looking for the home of your dreams, you can find it in Mexico—for much less than it will cost you most anywhere in the US or Canada. You can own your piece of retirement beach—not just ocean-view property—in Mexico for less than $100,000.
Ecuador: We’ve already told you about the low cost of living in Ecuador – it’s one of the world's cheapest places to retire. Take $250 out of the ATM Monday morning, and your expenses are covered for the week.
Ecuador ranks second on International Living’s Global Retirement Index, and while it's hard to beat the low cost of living, one thing's for sure: Ecuador also offers a high quality of life. This is no isolated backwater. And it’s easy to retire in Ecuador on a pensioner’s or Social Security income. You can easily live here on $1,000 per month or less.
Panama: Panama is much more developed than you might expect. The modernity of the country and the clusters of skyscrapers that define Panama City’s skyline may in fact, shock you. All of the amenities you could wish for are all readily available – and at a very low cost. Take a taxi across town for a buck or two, get your hair cut for a couple of dollars, or enjoy dinner for two with a bottle of wine at one of the finest restaurants in Panama City for a mere $30.
A major benefit of retiring to Panama is the incredible pensionado (retiree) program, which offers you a host of discounts on everything from restaurants to medical costs, an exemption on the importation of household goods, and more. Panama's government offers many excellent benefits and incentives so that you can enjoy your retirement in Panama…one of the best places to retire in the world.
Uruguay: Uruguay has a lot to offer those who decide to retire there. Whether you dream of a newly restored colonial home with modern interiors and a view of the harbor…a small cottage with a quiet internal courtyard…or you want to retire to the beach where you can sit on your balcony and watch the waves crash up on the sand…you can find it in Uruguay.
By the way, Mercer HR Consulting recently named Montevideo the second least expensive city in the world. And International Living recommends Uruguay as the best value for your second-home dollar. Uruguay offers modern, First World infrastructure, excellent highways, drinkable water, good communications, and stunning beaches. And prices--for just about everything--are low, making it a fantastic and affordable place to retire.
Italy: If Europe is more your style than Latin America, take note. There are many places to retire in Europe that are very affordable. Importantly, Italy ranks No. 2 on the World Health Organization’s list of countries with quality health services, which is very important for many people considering a retirement overseas (neighboring France has the No. 1 spot).
In contrast, the U.S. holds 37th place, despite being the highest spender. Wondering if you can afford to retire in Europe? There are numerous options, benefits, and locations that should be of interest to anyone wishing to retire in Italy.
These are some of the best retirement locations, and they’re just the tip of the iceberg, of course. There are many, many places that deserve a look.
Want to learn more? That’s good, because finding the best places to retire takes some preparation. Fortunately, we’re doing that work for you….every day.
Start by exploring our website. For 30 years, International Living has been reporting on the world’s best places to retire. Places where you can live in comfort, safety, and security and not sacrifice a single necessity or luxury that you so well deserve after a lifetime of working.
We scour the globe and leave no country un-scrutinized. Every day in our free Daily E-Letter we tell you about our most recent discoveries.
You’ll find even more details in the publications available in our store. And every fall, we compile our annual Global Retirement Index that lists the world’s best places to retire abroad and helps you contrast and compare the locations you may be considering. International Living magazine
And don’t forget to get your FREE Special Report, “Find Your Perfect Retirement Destination.” Sign up now for our International Living daily e-letter and we’ll rush it to you ASAP at no cost.
Let us help with your retirement planning. With the information we provide, you may learn that you can retire early and retire better than you ever thought possible.
As International Living reader Linda Ferguson wrote recently, “After five years of living in Mexico, my Mother and I still think it is the best decision we made when I retired. The view from my house is really beautiful. And, truly, I still say "thanks" to International Living for expanding my horizons and making it possible.”