Are you hoping to retire soon? You have worked hard, earned your hard-earned money. And finally, you can retire. Congrats!
For many, it’s an exciting phase of their life. A move abroad would be an ideal choice to spend the rest of their lives. So, which country do you wish to retire in in 2021? Luckily, this article highlights some of the best for you.
Every year, the Annual International Global Retirement Index releases a list of the best countries to retire. It provides a comprehensive list of countries worth scouring into depending on some factors such as.
- Climate
- Housing
- Ease of obtaining residency
- Cost of living and
- Safety
The top countries include Costa Rica, Panama, Mexico, and Colombia. Want to know why they are the best countries? Read ahead to find out.
Costa Rica:
Costa Rica’s reputation for healthcare is evident. It’s considered one of the best and has one of the most advanced medical care in Latin America and the world. They have state-of-the-art medical equipment and highly trained medical professionals.
The cost of living is much lower in Costa Rica than it is in the United States. You could comfortably live in Costa Rica with $1300 to $1600 per month if you’re a single retiree. The cost of housing varies. It mainly depends on your location, among other factors.
It’s relatively safe to live in Costa Rica. However, as a newcomer, be careful with where you travel and live. Because of crime, visitors should take caution.
The country has two main weather conditions. The dry season (high season) and rainy season (green season) Temperatures range from 70 to 81 degrees Fahrenheit.
Panama:
Panama has become one of the world’s top retiring haven. The beautiful beaches, welcoming people, lush mountains, rich culture, and dolphin-watching beautiful islands are all packed into one country. All these qualities make it an ideal destination for retirees.
Panama is a reasonably affordable country. It mainly depends on where you are. The cost of living is slightly lower compared to its neighboring countries. You can comfortably live on a $1700 budget for two.
The housing cost is slightly lower than its neighboring countries at about 39.84%. Those wishing to retire here should expect to pay about $196.37 per square foot.
Panama is a relatively safe country to live in, with some places more prone to crime than others. The Darien region and the Mosquito Gulf are riskier than others. However, visitors should always take caution on their whereabouts.
Do you love hot weather? Then Panama could be one of your best countries to retire. The Central American country has a hot tropical climate, with humid weather throughout the year.
Mexico:
If you consider retiring to a new country, Mexico shouldn’t miss in your tray as a choice. The beaches, the diverse landscapes, deserts, mountains, and jungles make it an ideal choice.
One irresistible factor is the low cost of living. It’s affordable compared to the US. Also, it’s easy to qualify and apply for residence. You can quickly secure your home within a month, with much of it done online.
Crime in Mexico continues to be a severe problem. However, it’s typically low in areas where ex-pat retirees reside. As a retiree, you should take caution about your travel destinations due to prevalent crime and kidnapping cases.
The weather in Mexico varies. Temperature varies depending on the season. However, it’s mostly warm and wet in the summers and mild in the winters.
Colombia:
Colombia is a great destination choice because of the beauty, drama, and diversity. Colombia is a rising star and appeals to everyone.
You could retire on a budget in Colombia. As a retiree, you could quickly get plenty from your buck here. Compared to the United States, the cost of living is lower. It has continually ranked higher in the index thanks to the lower cost of living, breathtaking sceneries, and world-class health care.
Extreme caution is necessary due to crime, terrorism, and kidnapping. However, your safety depends on your area of visit and residence. Some places are riskier than others.
The weather in Colombia varies. Temperatures remain relatively constant because of their proximity to the equator. The best time to visit Colombia is during the dry seasons in July to August and December to March.
Conclusion:
There are many countries to live in if you’re planning to retire abroad. Costa Rica, Panama, Mexico, and Colombia are some of the best countries to retire. These countries offer a combination of the low cost of living, availability of advanced healthcare, suitable housing, easiness of obtaining residency, and good security. So, which country is your choice?
