Preparing for retirement abroad can be an exhilarating experience, especially as there are many options to consider. Choosing the best destination for retirement has a lot to do with personal taste and preferences. Whether you are looking to retire abroad for a better quality of life, a change of scenery, or ready for a new thriving culture, this list will help you narrow down the options for retirement abroad.
Here are some of the most attractive destinations for expats retiring abroad based on quality of life, cost of living, climate, infrastructure, safety, political stability, the ease of purchasing a property and obtaining legal residency as a retiree.
Countries to Consider for Overseas Retirement
Pension-Perfect Retirement in Panama
Panama is considered as one of the top destinations to retire for many reasons. With exquisite beaches, towering mountains and cheerful and hospitable locals, Panama is reputed for being one of the most welcoming and highly affordable places to live.
On top of that Panama offers a discount and benefits with their pesionadio program to pension-holding retirees, allowing discounts on bus fares, restaurants, trains, entertainment and even prescriptions. The warm and beautiful tropical climate throughout the year makes it extra appealing, and since it’s located outside the hurricane belt, you are ensured of your safety from harm climatic conditions.
Living expenses in Panama are very low compared to most places in the world with a decent healthcare system. They also offer a one-time duty tax exemption for household goods up to a total of $10,000 and a 100% duty exemption on the purchase or importation of a vehicle every two years, which will make it easier for you to get settled and retire abroad with your personal belongings.
Peaceful Portugal for Retirees
If you’re looking for a destination rich in culture for your retirement, then Portugal should definitely be at the top of your list. Portugal is loaded with deep history with influences from Phoenician, Celtric, Listsitatnan culture. The European country has beautiful art and museums, theatre, exhibitions and a wide range of festivals with sumptuous traditional cuisine to match.
Climatic conditions are not an issue here as the weather stays pleasant throughout the year while enjoying the outstanding landscape of the country. Portugal is also considered as one of the most peaceful places in the world with an excellent healthcare system and a reasonable cost of living.
Magnificently Tropical Malaysia
Malaysia is known for bringing people to Asia and has some of the warmest people you’ll ever meet. Aside from its incredible tropical scenery, Malaysia is home to beautiful white sandy beaches, a variety of international restaurants and countless outdoor activities.
The cost of living is pretty low with affordable amenities such as healthcare and housing. Foreigners are welcome to buy property and invest, although that doesn’t guarantee an automatic residence. However, the Malaysian residency program exists to help outsiders looking to settle down or retire in Malaysia.
Extra Savings in Ecuador
From mountains, beaches, beautiful countryside views to a bustling city life, Ecuador has something for retirees of all walks of life. Ecuador is known to have amazing scenery and great weather with very welcoming locals.
Ecuador offers great discounts to expats to save on utility bills as well as reduced prices on transportation, entertainment. They also have very low tax burdens, making it an ideal destination for retired expats.
There are many beautiful places in the world, but the most important decision is finding the right destination for your retirement abroad. Find a place that aligns with your personal and financial goals so that you can enjoy a stress-free retirement abroad.