Planning for retirement is a critical step in anyone’s life. The question often becomes where to live to enjoy the remaining years of one’s life. The sunset of your life should be a time to relax and do things that you may have missed while working and raising a family. Though it may seem expensive, moving outside the United States can be the most cost effective and peaceful option available. Take a look at these five countries that have much to offer American seniors.
Canada has some distinct financial and cultural advantages for retirees. The Canadian system for retirement savings is similar to the United States, but with significant tax differences. For example, the Registered Retirement Income Fund allows you to take a tax deduction every year you participate and contributions can be made until you are 71. Canada also provides a countrywide healthcare system that is unparalleled.
Besides the financial benefits, Canada has landscape that will appeal to retirees. Halifax, for instance, sits on the southeast Atlantic coast near New York and surrounds one of the largest, natural harbors in the world. Those more culturally inclined can consider Stratford, home of Shakespearian and music festivals plus a diverse selection of art. Canada is close to home, which makes finding moving services easier and visiting the States easier. The summer weather is mild and the lifestyle is similar to the U.S.
Panama may seem like an unlikely retirement option, but is, in fact, one of the top spots today. The cost of living in Panama is low and the real estate is affordable. What will buy a small home in the United States can buy you an ocean front condo with security and amenities in Panama.
The diversity of the landscape is another reason Panama makes the list. You can enjoy the nightlife in Panama City, travel to the beaches on the coast and visit the mountains all in a few days. Panama has a stable, democratic government and guaranteed territorial sovereignty from the U.S. Between the balmy breezes and sweet economy, Panama should be way up on your list for possible retirement destinations.
Costa Rica is a country known for its stable, democratic government and peaceful environment. The cost of living in this picturesque country is lower than what you would find in the United States and even in most Central American nations.
When it comes to climate, there is no better place than Costa Rica. The weather tends to remain warm and breezy all year round. Costa Rica is the right place for seniors who are nature lovers. In the capital city of San Jose, you can visit INBio, part museum and part nature park then make a stop at the Rainforest on your way back. INBio is just one of a number of nature reserves to see in Costa Rica.
Argentina is for the retiree who wants fine dining and entertainment to go along with the beaches and a low cost of living. For nightlife, culture and the best restaurants, Buenos Aires, a city known internationally for its entertainment and friendly people. The climate in Argentina is similar to what you would find in other Central American countries, warm and balmy.
Argentina is still expanding, which makes the real estate very attractive. Much like other countries in this area, you can live in Argentina for less and get more.
Mexico has a little bit of everything. This would be the place to move if you enjoy diversity. You can travel to Cancun for beaches, celebrities and entertainment, move on to the vibrant city of San Miguel de Allende for culture and history and do some silver mining in Guanajuato. May Mexican cities are full of Mayan ancient ruins, museums, Spanish art and authentic Mexican restaurants.
Mexico is known for a low cost of living, inexpensive healthcare and friendly natives. The weather stays comfortable year round. Between the beaches and the culture, Mexico is a top retirement country for Americans.
Whether you want art, nightlife or just a quiet breeze while lying on the beach, chances are you will find it cheaper and better in a country other than the United States. When investigating your retirement options, look abroad for the perfect place to settle.