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Top Five Places for Retirement that are a Legal and Financial Paradise

Retirement should be a pleasant experience for everybody. To fully enjoy this phase, one must have careful and thorough planning to take full advantage of available resources. Retirement planning would also let retirees foresee their future and manage health and financial challenges that may come along the way. Planning will help prepare the right methods and strategies to counteract the challenges, thus avoiding stress and allowing more time for healthy and more meaningful activities and opportunities to travel and interact with more people.

In these times, however, many countries are facing challenges. The rising cost of lifestyle, fluctuations in currency value, public health risks, and natural disasters may put retirees and pensioners at risk. If you are a retiree, you must have heard of other pensioners and other friends going to other better places so that they can enjoy their retirement. This is also absolutely possible in your case. You have to weigh down your options and choose the best place that can provide your needs.

Here are the best retirement destinations worth considering.

Costa Rica

Blessed with great weather and amazing sceneries, Costa Rica is a top destination for retirees from the United States. Just a flight away, this Latin American country offers a relatively cheaper lifestyle for an average pensioner. If you have $30,000 a month, you can fully enjoy this amount as a rich man in Costa Rica! Have you been working all your life and have forgotten how it is to enjoy and be pampered? In Costa Rica, your pension can go a long way. It will allow you to hire a housekeeper, enjoy golfing, get a country-club membership and meet fellow pensioners enjoying a high-end lifestyle.

Puerto Viejo, in particular, allows low-cost living. For $2,025 a month, retiree couples can live comfortably and get a place near a beach and enjoy cuisines from different countries.

Portugal

The Portuguese government has been easing residency requirements to ex-pats and retirees willing to live in Portugal. These flexible rules made the country more appealing, making it a popular retirement destination in recent years. Here’s more. Portugal gives tax benefits to selected ex-pat retirees after ten years of living locally. This is definitely an added amount to your pension and social security claims benefits!

The cost of living is 27% lower than in the U.S., Living comfortably in a small city is as cheap as spending around $1,400 per month. Living in the outskirts of a city is much cheaper. For example, in the municipality of Lagos, couples only need $2,080 a month, or $24,960 a year, while enjoying the municipality’s refreshing view near the ocean.

city in Mexico

Mexico

Many Americans have also considered Mexico as a good country to retire. The country has a lot to offer that can satisfy the diverse needs of each retiree. From cosmopolitan cities to laidback towns filled with relaxing beaches, Mexico is a mecca of adventure and comfort.

In Akumal, Mexico, one can soak in spectacular bays that also serve as a habitat for sea turtles. Couples can enjoy these comforts and so much more for $2,240 a month, or $26,880 a year.

Panama

Panama is known as the safest country in South America. Thus, seniors need not worry about unrest or the high crime rate. It is a world-class destination that has a growing economy and a business-friendly government. You need not feel homesick as Panama has access to familiar products and comforts that you used to enjoy in your home country.

If you enjoy living in the suburbs, Volcan, Panama is a farming community in a valley that you can consider. Couples need around $1,500 a month or $18,000 a year to live comfortably in this place. It would help if you spoke some Spanish, though.

There are endless reasons to retire in Colombia. Its biodiversity, climate, low cost of living, and warm, happy people will make seniors feel at home. In a recent survey, Colombia ranks sixth in the best countries to retire. Soak up in the culture and enjoy the beach in Bogota! Living in the city will make you feel happy all year round with its spring-like climate.

Meanwhile, get enthralled in the universities, art and history museums, and restaurants in Medellin. This second-largest city in Colombia allows ex-pat couples to live decently for $2,000 a month, or $24,000 a year.

Living in your home country for a more comfortable and cheaper place in your retirement is a crucial decision. But your preparations, intensive research, and inquiry will be worth every bit of the comfort and enjoyable time of your new retirement home.

Before retiring, make sure that you have enough funds to live overseas. Remember, careful planning on how you will spend your funds is essential to living overseas successfully. You may also need advice from your attorney if your funds can last through your entire life in another country. There are also retirement income calculators online to help you figure out your financial capacity. You may also consider if your lifestyle fits in the new country and the kind of activities you want to do there.

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