The Motley Fool suggest retire for less in Panama
Excerpts from the Motley Fool article found here...
Here's one you may not have thought much about, though: Reduce your cost of living in retirement by moving out of the country. There are lots of countries where your dollar will buy you more than it does here. More and more retirees are doing this, and some popular new homes include Mexico, Panama, and Costa Rica. Here are some interesting facts:
- Some countries, such as Panama, Ecuador, and El Salvador, even use American dollars as their currency, making the financial transition easier for retirees.
- A Fortune article briefly profiled folks who retired in places as far-flung as Croatia, Argentina, and Thailand. A couple in Mexico bought an 8,000-square-foot home for $155,000. Other possibilities include Malta, Italy, Malaysia, and New Zealand.
- Per a recent MarketWatch article, "In Panama, the number of visas issued to U.S. retirees tripled between 2003 and 2005, according to a study published in 2006 by the [Migration Policy Institute]. In the previous decade in some regions of Mexico the number of U.S. retirees jumped nearly 200%."
