Retirement Planning Tips on the Best Places to Retire

Retirement Planning Tips on the Best Places to Retire

PARADISE apparently isn’t in the United States, at least for people planning to retire. In fact, almost 500,000 retired Americans live outside the United States, in places like Mexico, Thailand, Costa Rica, Panama, and Portugal. The main reason is that a lower cost of living in another country can mean a much higher standard of living.

There are three other main motives why retirees may move to a new location. The first is to relocate to a beautiful location with a better climate and find refuge there. It can be a place formerly reserved for annual vacations somewhere close to the mountains, beside the ocean, or in a nice warm climate.

The second motivation is seeking new adventures. Some people want a place that is more interesting and exciting than their present location. It can be a nice villa in Italy or a seaside cottage in Panama.

Wanting to be closer to a support structure is the third motivation. Some retirees may want to move to another country, not because they are seeking adventure or a change of scenery, but because they want to be closer to their children and grandchildren.

Fortune magazine in a recent issue says it has found “five idyllic places – from Patagonia to Phuket – where you can still live like a king on what you’ve saved.” You can dream on in San Carlos de Bariloche, Argentina; Dubrovnik, Croatia; Boquete, Panama; Merida, Mexico; and Phuket, Thailand.

What’s more, not so long ago US magazine Modern Maturity [now AARP The Magazine] sent teams of researchers out in search of exotic locales around the globe to determine the absolute best places to retire – a home away from home or as a retirement haven for North Americans.

Modern Maturity graded each destination using 12 categories, ranging from weather, the cost of living, cultural programs, housing, public utility, communication, public health, medical facilities, environment, safety and security, and political stability.According to the magazine, the top 15 best places to retire were: 1. Costa Del Sol, Spain; 2. The Cinque Terra, Italy; 3. Provence, France; 4. Boquete, Panama; 5. St Vincent