Locating the cheapest places to retire in the world involves a fair bit of traveling and research. Those who have retired or are on the verge of retiring usually consider three criteria for selecting a suitable retirement place- cost of living, healthcare system and climate. Here are three countries that make excellent retirement havens:
Ecuador
According to International Living’s Annual Retirement Index, Ecuador is among the places in the world that you can retire cheap.
Many regions of this nation are known to produce fruits and vegetables throughout the year and are replete with greenery, flowers and flowing waters. Its culture is ethnic and the people are friendly.
Cost of living: Figures from the Indexes of Living Costs Abroad state that Ecuador’s cost of living is lower than most other countries worldwide. Retirees can live comfortably by spending around $1000-$1500 per month. One compelling factor is the availability of cheap real estate.
HealthCare: Medical care is cheap and centralized in Ecuador, especially for retired citizens. The cost of four visits to a practitioner for two persons comes to just $20 a month.
Climate/miscellaneous factors: Like Cuba, Ecuador is known to have a temperate climate with no extremes. While certain places are hotter and cooler than others, there is no major cause for concern. Other important benefits offered by Ecuador to retirees include entertainment camp; utilities tax discounts and cheap airfares. Just a few reasons why it is believed to be the cheapest places to retire in the world.
Cuba
Cuba is also one of the best and cheapest places to retire in the world. This beautiful country is blessed with a great landscape, warm & humorous people and a vibrant culture which accommodates eclectic inputs.
Cuba boasts of imposing mountains, more than 70,000 square miles of beautiful terrain as well as a coastline exceeding 2,000 miles.
Close proximity to the United States and an affinity towards its lifestyle is another factor which goes in its favour. The recent economic linearization initiated by the government has paved the way for mobile phones and US-style malls. Dollar is already allowed as a legalized currency.
Cost of living: According to new figures from Quarters Allowances, Cuba continues to be an affordable place to live even for retirees. Retirees can get by comfortably on around $1500-$1800 a month. Getting a permanent citizenship also entitles you for certain tax benefits.
Healthcare: Cuba’s healthcare system is regarded as one of the best in the entire region, which is why the country’s longevity rate is comparable to some of the developed countries. Cuba has spent close to $150 million over the past 3-4 years on augmenting healthcare equipments and services. A plethora of medical research centers are also coming up in a big way.
Climate: Cuba enjoys sunshine for nearly 300 days in a year and is one of the few countries with warm, temperate climate and a carefree ambiance. It is a culturally rich nation.
Belize
Belize is one of the hottest destinations in Central America, with great landscape, pretty beaches and a rich wildlife. It has also emerged as the one of the cheapest places to retire in the world.
Cost of living: This is one the biggest attractions about Belize.
A retired couple can live on less than $1500 a month without compromising on their lifestyle.
Even real estate, groceries, property taxes and utilities are very affordable. Imported goods are expensive, so it is better to buy from local shops.
Healthcare: Belize offers good quality and subsidized healthcare. A visit to a local doctor costs roughly $25 a month.
Climate/miscellaneous factors: Like most countries, Belize has dry and wet seasons. The weather gets a bit unpredictable from May onwards but is manageable all the same. What it lacks in climate makes up for in safety. According to the 2009 Annual Retirement Index, it was one of the top 5 safest countries in the world.
These three countries are among the best and cheapest places to retire in the world. If you plan to retire in any of these countries, you are more than likely to be satisfied with your decision.
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