After years of hard work and paying off the bills, sending kids to school, or putting all your investments in place, it is time for you to retire. One can imagine their retirement as the time to do all the most exciting things that were never done because everything just got busy before.
Talk about all those times you’ve wanted to spend a holiday traveling around the world, relaxing at the beach, doing casino, or sipping some cold piña colada. If you are considering all these, you can choose to retire overseas and enjoy another glimpse of life to glorify your age and take advantage of your pension.
The Annual Global Retirement Index listed the following countries according to retiree’s experience they’ve shared with International Living, a publication that features countries suitable for retirement and migration. For this article, we feature five of the best countries for the retiring individual.
1. Panama
After a few years in the cold climate, a day in the tropical sun would be a tempting vacation. How about staying here for good? Does that sound like a good retirement plan? Well, if there is one country that bested a tropical retirement, it will be Panama.
While it is a tropical country in between two major oceans and the Caribbean Sea, it is tucked safely from hurricanes, making it a tranquil place to retire. The country uses US dollars so you wouldn’t have a hard time exchanging currency. Tax is also low, and the cosmopolitan area is urbanized. Resort houses can be rented for as low as $1,000 and can go cheaper as you go farther from Panama City.
2. Mexico
Another country to consider for retirement is the only Spanish-speaking country in North America – Mexico. If you desire to live the rest of your years in an elegant colonial house, Hispanic resorts, and even the powdery beaches lining up the Gulf of Mexico, then this country will surely give that retirement satisfaction. You can live your retirement here for as low as $1,500 a month, inclusive of housing rent and medical care. Retirees aged 60 years and up can take advantage of their national discount card for discounts on services and daily essentials.
3. Ecuador
This country in South America is known for its historical and cultural value. However, for a retiree, this country has more to offer than what you see. Retiring in Ecuador has two options: either you live in the warmer lowlands or go up the Andes mountain region for a cooler settlement.
You can also choose whether to retire in an urban area or go rural and enjoy your years cultivating local agriculture. Whatever you choose to live on your retirement, Ecuador will surely be a unique experience.
4. Malaysia
This Asian country on this list isn’t just all about living an oriental retirement. More than just the location (this country covers a part of the Malay peninsula and the island of Borneo), the scenery, the sea, and the beautiful beaches provide a unique tropical vibe, and as far as the locals say so, the crystal-clear saltwater has special properties that invigorate anyone’s body and soul.
The cost of retirement in Malaysia differs from every location. The urbanized Kuala Lumpur can get you up to $1,600 a month on living expenses. However, this is highly reduced in Sabah, where you can live for as low as $500 a month, including rental and other regular expenses.
5. Portugal
If you prefer to settle in Europe after retirement, then the Iberian Peninsula has the perfect location that offers both the European vibe and the economic lifestyle – Portugal. This country lies on the Atlantic coast of the peninsula, right beside Spain, and it gives you all the access to wherever you want to go. Africa, South America, Europe, Mediterranean, name it, they are the gateway to these paradises.
Plus, the government is currently making efforts to make all retirees feel welcome to stay in their country through their affordable yet comfortable settlements and a lot of attractions and tourist destinations. At €2,500, one can enjoy the best European retirement in this beautiful country.
