Best Places to Retire abroad- From Mexico to Spain, we have covered it all for you.
As the memories of the heat and the polluted air of an Indian summer hovers around us, many people nearing pension age or even younger will be contemplating to retire abroad.
Thanks to the cheap air travel and the digital revolution, our world is now small, like a global village. So you no longer need to say farewell to your family forever if you relocate overseas. But taxes do not end at the borders of India. And you need to be sure that all the financial aspects of becoming an expatriate have been taken into consideration.
With these pros and cons in mind, Castle Cover – insurance specialists for the over-fifties – & CNN Traveler researched retirement prospects in 23 countries to identify the 10 best places to retire overseas. The researchers considered factors like house prices, health care costs, average temperature, rainfall and hours of sunshine – as well as grocery bills, crime rates, and taxation.
Obviously, personal preference and family ties will affect which location appeals most, but here is the list of top 10 best places to retire overseas.
Best Places to Retire Abroad in descending order:
10: Coronado Panama
A two-hour drive down the Pan-American Highway from cosmopolitan Panama City lies the Pacific coast beaches and perfect sunsets of Coronado. This is a destination for the outdoorsy, with water sports out your front door and a vegetable garden out the back; at least that’s the way the long-standing expat community seems to like it. Coronado has established emergency, specialized, and routine health care clinics, hospitals, and services, and Panama’s tax system allows foreigners to live nearly tax-free. All these things make Panama one the best places to retire abroad.
9: Penang, Malaysia
Thanks to a government initiative named “Malaysia My Second Home” (MM2H), foreigners can now easily apply for a 10-year visa. Once you’re in, head to Penang for the best of the country’s culinary offerings, historic architecture, a thriving art scene, international-standard health care, and an English-speaking community of expats. Penang is itself an island (with beaches!), and the UNESCO World Heritage Site of George Town is its capital. Getting in and out is easy; the metropolises of Kuala Lumpur and Singapore, and the vacation island destination of Langkawi, are quick, cheap flights away.
8: Cascais, Portugal
The seaside enclave of Cascais is only 19 miles west of Lisbon but has 10 major golf courses, a castle, miles of cobblestone streets bordered by cafes and fresh seafood vendors, a large English-speaking expat community, and housing for a fraction of what it would cost in the capital city. Portugal is already one of the most affordable countries in Europe, and AARP has this to say: “Portugal prides itself on having a quieter, more civilized pace of life than its neighbor, Spain. The Portuguese are reserved but friendly; even their bullfights are polite (they spare the bull).” With a more mild climate than the Algarve’s Mediterranean coast and within easy weekending range of Portugal’s central Alentejo wine country, Cascais is best for those who desire a view of the ocean and plenty of good things to eat and drink. Portugal is definitely one of the best places to retire.
7: San Miguel de Allende, Mexico
Not only has this town been declared a UNESCO World Heritage Site for its “cultural and architectonic wealth,” but San Miguel de Allende took the top spot in our 2013 Readers’ Choice Awards for best city in Mexico. It is located in the Mexican state of Guanajuato, only three hours north of the action of Mexico City. San Miguel de Allende has been luring foreign retirees for decades thanks to its art scene, colonial charm, and affordable living. It now boasts an established, English-speaking community that thrives on the arts and ideal weather. The Mexico Tourism Board even maintains a website dedicated to luring gringos from the United States to retire in San Miguel de Allende.
6: Killarney, Ireland
Ireland is a popular vacation destination.A lot of tourists especially Americans are choosing to stay. It’s easy for those with Ireland-born parents or grandparents to gain citizenship. But others can apply for a renewable visa allowing a stay of five years. Killarney is a small city in County Kerry, ranked high for safety, cleanliness, and overall charm. Horse-drawn carts still drive the roads and the locals bundle up in locally produced woolens. U.S. News and World Report wrote on the allure of Ireland with an article. It compared “the cost of retirement in Ireland versus Arizona,” concluding that a budget of $30,000 per year is ample. Ireland is not just one of the best places to retire but it is the best place for honeymoon and vacations too.
5: Corozal, Belize
Belize’s official language is English, a rarity in Latin America and a remnant of the country’s past as a colony of British Honduras. Corozal’s location—it’s the country’s northernmost town—is a hot selling point; located near a duty-free zone by the Mexican border and the town of Chetumal, residents get two countries for the living of one. Chetumal offers a ferry connection to Ambergris Caye, Belize’s largest island and a gateway to the world-class snorkeling and scuba diving off the Belize Barrier Reef. Corozal is home to an established expat community that values the low cost of living but high opportunity for outdoor activities in the warm, tropical climate
4: Concord, USA
Located only 30 miles east of San Francisco, Concord is a big little city. Concord is home to farmers markets, excellent healthcare facilities, and free community activities throughout the year. Concord is part of the Bay Area Rapid Transit system and has a crime rate below that of San Francisco. That too despite its proximity and connection to the city. Concord has a working drive-in theater, which is perfect for indulging in an evening of nostalgia.
3: Grand Haven, USA
USA Today recently voted Grand Haven State Park’s 48 acres of sand as one of the USA’s best freshwater beaches. So, on a hot summer’s day is a dream dip in the clear and cool waters of Lake Michigan. Nicknamed “Coast Guard City,” this town is a lakefront star. You have a boardwalk, 90,000-gallon musical fountain, harbor trolley, charter fishing industry, and miles of bike trails. It’s a popular place for retirees who split their time between two regions. As Grand Haven is best in summer when it’s warm, the days are long. And the charming downtown streets are alive with festivals and live performances.
2: Malta
Malta is one of the smallest states in the world hence the population densely is high. There are myriad of reasons, good ones, too. Like more than 3,100 hours of sunshine a year and an average temperature of 19C. And add to it, English as a first language for most people. So it’s no surprise why this Mediterranean archipelago is one of the best places to retire. An interest in history would help residents here, but its small size could become a problem over the longer term.
1: Spain- Best place to retire in the world
Spain is a poet’s dream, and also the dream of every Briton. Spain certainly is their first choice to retire overseas. This country has the largest British expat community in Europe. And the lowest crime rate of all countries surveyed. The beautiful cities of Madrid and Barcelona, the rolling countryside of Catalonia –offer an ideal environment to retire. And you add to it the historic Unesco-protected areas like Toledo and islands including Tenerife, Ibiza, and Menorca. There’s plenty of choices. Free Healthcare, beautiful weather and the laid-back approach to life makes it an ideal place to retire.
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