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The 18 Best Places to Retire Overseas

3/25/2012

 
Thanks to Robert for this Post:

The 18 Best Places to Retire Overseas


By Kathleen Peddicord | U.S.News & World Report LP – 

Mon, Mar 19, 2012 4:00 PM EDT

When choosing a place to spend your retirement years, the cost of living is important. But it is only one consideration. The ideal retirement spot is a place where you can live a rich life filled with friends, travel, discovery, physical and intellectual distractions, and opportunities for growth. A super-low cost of living is great, but more important is the quality of life your retirement budget is buying you.

Many of the best options for enjoying an enormously enriched retirement lifestyle on even a very modest budget can be found overseas. Here are the world's 18 top retirement havens, where an interesting, adventure-filled lifestyle is available for a better-than-reasonable cost.

The Americas

1. Panama. Panama is the world's top retirement haven. Panama City no longer qualifies as cheap, but other spots in this country certainly do. Panama continues to offer the world's gold standard program of special benefits for retirees. The currency is the U.S. dollar, so there is no exchange rate risk if your retirement savings and income is in dollars. The climate in Panama City and on the coasts is tropical, hot, and humid. However, the climate in the highlands can be temperate and tempting. Panama is the hub of the Americas, meaning it's easily accessible from anywhere in North and South America and Europe.

[Related: 10 hidden-gem destinations]

2. Belize. Belize is a great place for reinventing your life in retirement. This tiny, under-developed, sparsely populated country offers two distinct lifestyle options: Ambergris Caye is the best of the Caribbean at a discount, while the Cayo is a frontier where independent-minded pioneers can make their own way and do their own thing, peacefully and privately. The climate is tropical, warmer on the coast, and cooler in the mountainous interior. The official language is English, so there's no foreign language barrier for Americans. You'll find a well-established and welcoming community of expats in San Pedro and on Ambergris Caye, and an emerging community of expats in the Cayo around San Ignacio.

3. Colombia. Medellin, a city of springtime and flowers, is the unsung jewel of Colombia. This city is pretty, sophisticated, cosmopolitan, safe, and affordable. Perhaps the most appealing advantage in Medellin is the cost of real estate. It's an absolute global bargain. You can buy property in a good neighborhood for as little as $1,000 per meter.

Medellin's second biggest appeal is its climate, which is spring-like year-round, thanks to the high elevation. Medellin is a more developed city than you might imagine, with five of the best hospitals in Latin America, universities, museums, art galleries, and an efficient and reliable metro system. It also has international-standard shopping and many interesting nightlife options. If you fancy Paris or other Continental city choices, but don't want or can't afford Europe, I strongly recommend you take a look at Medellin. This city is one of the best places in the world to hang your hat.

4. Uruguay. It seems that the more troubled the rest of the world becomes, the more people are finding appeal in Uruguay, a stable commodity-based economy with a sound banking system. Uruguay is neither an aggressor nor a target of aggression in the world arena, and it's not a high-stakes player in world politics. Costs have risen in recent years thanks to the strength of the Uruguayan peso and the sinking value of the dollar. But, even as the cost of living and of real estate rose, Uruguay has become even more popular as a lifestyle and retirement destination. Accordingly, people are coming to Uruguay in record numbers, with residency applications up over 300 percent since 2007, many of these coming from the United States.

5. Ecuador. Ecuador is perhaps the best choice in the Americas for a retiree looking to enjoy a rich and interesting quality of life on a limited budget. I recommend Cuenca, the former Inca and Spanish capital, a current UNESCO World Heritage Site, and the intellectual heart of Ecuador. Cuenca is home to about 1,500 full-time residents from North America. This is not a big number compared with some more recognized Mexican retirement choices, but Cuenca clearly qualifies as an expat-friendly city, offering one of the most interesting retirement lifestyles available anywhere. Amenities include theater, orchestra, shows, restaurants, broadband Internet service, reliable electricity and telephone, and drinkable tap water.

[Related: Ecuador Seen as New Retirement Hot Spot]

Cuenca's appeal as a retirement haven is expanding in important ways, thanks to a recently developed program promoting the city as a medical tourism destination. The city's five top hospitals have joined together to offer bundled programs of medical tests, procedures, and services available for from $66 to $401. Costs for comparable services in the United States would be multiples of these amounts. In addition, Cuenca is now offering nursing care of a standard suitable for and appealing to the expat retiree at a cost of just $450 per month, including 24-hour doctor and nurse attendance, food, laundry, personal care, and occupational and rehabilitative therapy.

6. Nicaragua. Another top choice for a retiree with a very limited budget is Nicaragua. This country's Pacific coastline is every bit as dramatically beautiful as that of neighboring Costa Rica. Infrastructure is under-developed in both countries, but the cost of living and especially real estate are noticeably lower in Nicaragua, making the pot-holed roads easier to bear. Nicaragua also boasts two of the top Spanish-colonial cities in the Americas: Granada, a pretty and romantic city that everyone should see once, and Leon. Both places were founded in the early 16th century by Cordoba.

7. Roatan, Honduras. I'm not a big fan of mainland Honduras, which is under-developed and, in some places, unsafe. However, the Bay Island of Roatan is a world apart and one of my two top picks for affordable retirement in the Caribbean (the other is Ambergris Caye, Belize).

8. Argentina. Argentina is a dynamic and charming nation that rides perpetually between crisis and boom. This rich country boasts abundant natural resources and offers many appealing retirement lifestyle choices, including the eclectic and cosmopolitan neighborhoods of Buenos Aires, the provincial capitals, a finca in the countryside, and a boutique vineyard in Mendoza. Retirement life in Argentina could be many things, but never dull. The downside is a rising cost of living, thanks to local inflation and the falling value of the U.S. dollar versus the Argentine peso.

9. Mexico. This is historically one of the most recognized retirement havens for Americans. But Mexico today is suffering from a lot of bad press thanks to its drug wars. However, Mexico is a big country, and the drug goons haven't overtaken it entirely. It continues to offer some of the best coastal lifestyle and retirement options in the Americas, including Puerto Vallarta, my number-one choice for an affordable life of luxury on the Pacific. A couple could enjoy a a five-star retirement in this beautiful and romantic coastal town of marinas, golf courses, yacht clubs, and fine dining on a budget of as little as $2,500 per month.

10. Chile. Chile is a developed, First World destination that is also quiet, safe, and stable. Unlike its more scandalous neighbor, Argentina, Chile offers a cultured, comfortable lifestyle that is relatively calm. Santiago is a city of classic-style architecture, cobblestoned streets, and cafes with outdoor seating, in many ways reminiscent of Paris or Barcelona. This city of 7 million is also remarkably clean and friendly and boasts a diverse and expanding property market that is affordable on a global scale. You could own property at some of the city's best addresses for less than $2,000 a meter. One important downside to retirement in Santiago is the air pollution, which is a serious problem, especially during the winter months. A better option could be the country's beautiful Lake District to the south of Santiago, which is a favorite retirement choice among Chileans themselves.

Europe

11. France. France is a land of superlatives. Its capital has been called the most beautiful, most romantic, and most touristed city on earth. It also boasts some of the world's best wines, cheeses, restaurants, shopping, castles, gardens, parks, beaches, museums, cafes, galleries, vineyards, and architecture. The typical concern for anyone who has ever dreamed of a new life in France is that it's too expensive for the average retiree to consider seriously. Not so. Paris isn't cheap. But elsewhere in France you can find realistic options, even if your retirement budget is modest. Perhaps the most retirement friendly region in this country is in the southwest, north of Spain, where small country towns offer a way of life that is quintessentially French and also very affordable.

[Related: Most Productive Cities]

12. Italy. The cost of living in Rome, Florence, Venice, and Tuscany might be beyond the limits of your retirement budget. But that doesn't mean you should take Italy off your list entirely if this is the country that stirs your imagination and speaks to your soul. A retiree on a budget interested in Italy could look at Abruzzo. From this beautiful Old World base, within a half-day's drive of both the coast and the mountains, you could plan excursions to Italy's better-known and more expensive outposts as often as you liked.

13. Ireland. Americans have long dreamed of retirement on the Emerald Isle and with good reason. Ireland is safe, peaceful, relaxed, welcoming, friendly, hospitable, and English-speaking, making it an ideal retirement choice for many. Ireland today is also more affordable than it has been in more than a decade, and its property market has fallen off a cliff. Real estate prices are down 50 percent or more in many markets and are still falling. If you, like so many others, have dreamed of wiling away your retirement years on your own little piece of the Auld Sod, this could be the best time in your lifetime to think about making that purchase.

14. Spain. Spain is known among expats for its Atlantic and Mediterranean coastlines, especially its infamous (and unfortunately over-developed) Costa del Sol. But there's more to this country than its costas. Barcelona, for example, is a world-class city on the ocean, perfect if you're looking for a cosmopolitan life near the water. Real estate prices in this country have fallen tremendously since the highs of four or five years ago. If retirement in Spain appeals to you, this could be the time to search for a great deal on Spanish retirement digs.

15. Croatia. Croatia, a country with an extraordinarily complicated history and an extremely open-minded, forward-looking population, is at another turning point in its long history. Countries at turning points are interesting places to be. I recommend the country's Istrian Peninsula, which serves up some of the most delightful scenery on the planet. The land seems to rise up to embrace you, and everywhere you look, something nice is growing like olives, grapes, figs, tomatoes, pumpkins, blackberries, and wildflowers. Even the buildings seem to be part of the earth, built of its white stone and red clay. This sun-soaked region offers one of the most appealing lifestyle options in Europe today.

[Related: The New Retirement Resorts]

Asia

16. Thailand. Thailand boasts both really cheap and developed and comfortable lifestyle choices. It is also noteworthy as being one of the few countries in this part of the world that offers formal options for long-term and retirement visas. Hua Hin is one of the few classic retirement havens in Southeast Asia, complete with golf courses, factory outlets, and gated communities. Foreigners make up approximately 15 percent of that population, and most of them are retired. With 12 golf courses in operation and another 3 under construction, this is definitely the place to go if you're a golfing enthusiast. Hua Hin is a place where, if you were so inclined, you could live a North American lifestyle and never have to involve yourself more than superficially with the local Thai culture. This could be a plus or a minus for you, but it is worth noting when discussing options in this typically exotic part of the world.

17. Vietnam. While Thailand is well-established as an interesting option for expats and foreign retirees, Vietnam is an emerging choice, which could get a lot more attention in the coming few years. Nha Trang offers an interesting coastal retirement option for adventuresome retirees. Nha Trang's total population of more than 200,000 includes an expat population of about 1,000 people, meaning foreigners here are still pioneers. You'll find no organized activities for foreigners, such as expat clubs or softball leagues. The lack of a big foreign population makes it easier to have meaningful interactions with the locals. The major attraction in Nha Trang is its cost of living, which can amount to much less than $1,000 per month for a retired couple. If you're a budget-minded retiree with an interest in Asia, this town should be on top on your list.

18. Malaysia. After Thailand, Malaysia is the easiest country to navigate in this part of the world. The country's capital, Kuala Lumpur, is a city of contrasts. The shining stainless steel Petronas Towers, two of the tallest skyscrapers in the world, anchor a startlingly beautiful skyline that is truly unique to this city. Modern, air-conditioned malls flourish, selling everything from beautifully handcrafted batik clothing to genuine Rolex watches and Tiffany jewelry. In the shadows of these ultra-modern buildings, the ancient Malay village of Kampung Baru still thrives, with free-roaming roosters and a slow pace of life generally found in rural villages. Less than a 20-minute walk from the city center, you can find yourself conversing with monkeys in the city-jungle surrounding one of the highest telecommunications towers in the world. A walk of less than 30 minutes leads you to Chinatown and Little India, where merchants offer their wares, foods, and culture in happy neighborhoods that showcase the amazing diversity of the city.

Unlike some places in Asia, foreigners are genuinely welcomed in Kuala Lumpur. Language isn't a problem, as almost everyone speaks adequate English. Immigration is easy, and it is possible to stay for an extended period with a simple tourist visa. Although Kuala Lumpur is more expensive than rural Malaysia, it can be marvelously inexpensive by Western standards. You can realistically expect to cut your living expenses by a third and still enjoy a lifestyle comparable to what you are accustomed to now.

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas--Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

Source

Her book, How To Retire Overseas--Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

ORDER HER BOOK HERE Link to Order Book

The 10 Best Places to Retire – Topretirements Editor Picks

3/2/2012

 
The 10 Best Places to Retire – Topretirements Editor Picks   

Your Editor Picks: How We Rank the 10 Best Places to Retire – And Why
Category: Best Retirement Towns and States

February 28, 2012 — Last week we announced the list of the 100 Most Popular Retirement Towns, our annual list of the places that our visitors and members seem the most intrigued with. This week we decided to take that idea a little further by analyzing that list against 12 important retirement criteria. The result is a top 10 that looks very different, with 4 towns from the top 20 moving up to the top 10. Here are your editor’s selections for the “10 Best Places to Retire” – (the # in ( ) was its ranking on the popularity list).

The 10 Best Places to Retire – Topretirements Editor Picks

1. Sarasota, Florida (#2). Our top pick on Florida’s Gulf Coast has so many things going for it. The economics are very attractive: median home prices well below the national average, no income tax, low property taxes. Culturally it has unbelievable resources for a small city of this size, thanks to the largesse of the Ringling Brothers, who had their winter headquarters here. The downtown is exciting and so is the nearby St. Armond’s Circle shopping area across the causeway on the barrier island. Siesta Key and Longboat Key are nearby.

2. San Antonio, Texas (#16). This Texas town was actually tied on points with Sarasota. We broke the tie based on Sarasota’s higher rank with our visitors. Texas has no state income tax, although its property taxes are higher than average. The city’s River Walk section is a major tourist attraction. There are many active communities to choose from. Retired military personnel will particularly like this area since they have access to many medical and shopping resources. On the negative side San Antonio has a higher than average crime rate (albeit probably more concentrated in certain areas), and its “walkability” average not as high as some communities on this list.

3. Naples, Florida (#11 ). Along with Sarasota, Naples is a place for people who want to live in a more affluent, upscale community. There is a wealthy aura to it, with a downtown featuring high-end shops, luxury hotels, great restaurants, and a a vibrant arts scene. You can easily walk from downtown to the beach through lovely neighborhoods. Home prices are higher than the national average (at about $250,000), although they cost about half what they did 5 years ago. On the negative side of the ledger there is no college.

4. Tucson, Arizona (#17). Our highest ranking retirement town in the west, Tucson is a great college town with the University of Arizona a big presence. There is the beautiful desert for outdoor recreation and scenery, along with the warmest winters in Arizona. Housing is well below average at $131,000. There are ample and very sophisticated health care choices. Crime rates, walkability, and income taxes for seniors are worse than average.

5. Asheville, NC (#1). This town in western NC is always the overwhelming favorite retirement destination at Topretirements. There are plenty of good reasons for that, including its mild, 4 season climate, the UNC Center for Creative Retirement, interesting downtown, and large number of communities and neighborhoods to choose from. After being evaluated against all 12 of our criteria, however, it slid to #5 on our list. It’s still a great place to retire, but compared to the competition it was outranked for reasons including: NC is not as friendly a tax state for retirees, walkability, above average cost of housing, and the city’s above average crime rate.

6. Beaufort, South Carolina (#7). 304 acres of this charming town in South Carolina’s Low Country have been designated a National Historic Landmark. It has a diverse economy, low taxes, and a very strong reputation as a retirement destination. The University of SC has a branch here. Retirees looking to continue working might find it hard to get a suitable job in Beaufort. For health care you might want to go to Savannah or Charleston; housing costs slightly above average. People looking for urban excitement might find this golf and boating oriented area boring after a while.

7. St. Augustine, Florida. (#18). This historic town is one of the oldest in the new world, dating back to 1565. It has beaches, historical museums, Flagler College, proximity to Jacksonville for healthcare and culture, and inexpensive housing at a median cost of $120,000. On the other hand it is a relatively small town with few retirement job or adult education opportunities.

8. Fort Myers, Florida (#6). If you like golf, boating, and fishing Fort Myers might be for you. The area has barrier islands like Fort Myers Beach, Sanibel, and Captiva for great beaching. It also has some very inexpensive housing with a median home price of $108,000 in late 2011. There is no FL income tax; property taxes are low. There is plenty of culture with theaters downtown and the Barbara B. Mann Performing Arts Hall. Every medical specialty is well represented. Negatives include intense traffic in season, a depressed economy, suburban sprawl, and above average crime rate.

9. Venice, Florida (#4). Venice was one of the original planned retirement communities, built in 1925 by the Brotherhood of Locomotive Engineers. Walk from the charming downtown past a huge library and parks to beautiful white and uncrowded beaches. There are an extensive number of active adult communities, many of them built around golf courses. Median home price was $135,000 in late 2011. Taxes are low. Drawbacks are walkability if you don’t live downtown, and the fact that the older population might be off-putting to younger retirees. This is not a college town, unlike some others on our list.

10. Prescott, Arizona (#5). Prescott is an old western town that has managed to propel itself to being a top retirement destination. There are a couple of small colleges and adult education opportunities. Housing prices are above average. There is an interesting downtown. Negatives are the tax situation, limited health care choices and employment opportunities compared to the larger cities on this list.

Our Methodology and Criteria
To develop this “best of the best” list we considered the top 20 towns from our 100 best retirement towns list. Then we analyzed and compared those towns for 12 different retirement criteria, applying 1 point if they were above average for that characteristic, and deducting 1 point or slightly more if they were below average (for example, housing prices in San Diego and Sedona are more than twice as expensive as the national average – therefore we penalized those towns -2 points). These are the 12 criteria we used:
- Wow Factor
- College town
- Large # of active adult communities
- Adult education/Cultural opportunities
- Healthcare options
- Employment opportunities
- Income tax for retirees
- Property tax
- Climate
- Cost of housing
- Crime
-Walkability/Attractiveness of downtown

Please continue to post your Comments about where you intend to retire and why. To keep all of those in one place, please post them to our “Tell Us Where Are You Going to Retire” article.

For further reference:
We are proud to report that we collaborated with Robert Powell of WSJ Marketwatch to produce this article plus a slideshow on that site. See “Slideshow: 10 Best Places to Retire“.

SOURCE


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