Retirement is a time to live the life that you have always dreamed about—and sometimes that means moving to a new part of the world.
Forget about retiring to Florida. Overseas retirement offers American citizens many benefits, including a higher standard of living for your retirement dollars, cheaper health care and better weather and climate.
However, it is important to choose the right retirement spot if you are thinking of moving overseas. Not all foreign retirement hotspots are created equal. Here are five of the best spots to retire abroad for 2017.
They all have several things in common: a good climate, excellent health care options, adequate infrastructure, lots of benefits for retirees, low crime rate, plenty of recreation options and a low cost of living. But they have lots of differences, too – which we explain below.
#1 Lake Chapala, Mexico
With the recent news headlines about Mexico, you might be surprised to learn that the country is the number one retirement destination for Americans. Sure, there are places in the country that are unstable. However, the news headlines don’t tell the complete story.
Mexico is a big country, and many cities offer Americans a better standard of living than what they would have at home. For more than 100 years, this area has been hugely popular with retirees.
Lake Chapala is relatively close to the United States, safe, has a nearly perfect climate and plenty of things to do. Also, it’s just 30 minutes away from a large international airport at Guadalajara. This airport offers flights to more than 14 cities in the U.S., making it easy for retirees to return to the U.S.
#2 Algarve, Portugal
This region of Portugal is ideal for American retirees that want to enjoy retirement near the coast. It offers a breathtaking rocky coast that stretches on for hundreds of miles.
Portugal offers a low cost of living for retirees from the U.S. due to the current strength of the dollar against the Euro right now. In fact, the cost of living in the Algarve region is about 30 percent less than in the continental United States.
Other retirement strengths include an abundance of golf courses, plenty of sunshine year-round, safety and health care. One of the other benefits for retirees is the residency options for expats. The Golden Visa program only requires residents to stay in the country for one week a year—as long as you purchase real estate in the country. Another Visa program, called the self-sufficiency program, allows you to stay in the country if your income is at least $1,300 a month. You must spend half of the year in Portugal to qualify for this program.
#3 Medellín, Colombia
Medellín offers retirees a peaceful, comfortable way of life. Medellín is known as the “City of Spring” for its climate. The city is full of culture and European charm. The people are sophisticated and well-mannered. The best part is that this retirement oasis is very affordable.
The U.S. dollar is pretty strong against the Colombian peso. So, you can afford a lifestyle of luxury at a bargain in Medellín.
#4 Merida, Mexico
As mentioned above, news headlines regarding Mexico often don’t tell the full story – and often overlook the beauty the country has to offer. This is another fine location to consider for retirement living.
Merida, Mexico offers proximity to mountains, beaches and plenty of other outdoor options. The weather is tropical with plenty of sunshine year-round. The city is known for its cultural activities. It has museums, ancient Mayan culture and more. Merida also offers a low cost of living and a nearly non-existent crime rate.
#5 Kuala Lumpur, Malaysia
Kuala Lumpur is an affordable, comfortable and exotic place to retire. It is a great choice for retirees who yearn for the big city life without the costliness and hassle of living in a place like New York or Los Angeles.
Also, most people speak English in Kuala Lumpur. The cost of living is low—you can find a decent apartment in a good location for less than $600 a month. There are plenty of outdoor activities nearby too. Untouched rainforests and top heritage sites are just some of the nearby things for retirees to explore.
Regards,
Ethan Warrick
Editor
Wealth Authority
