Retiring in your current state of residence might be something you have considered for a long time; however, if you’re retiring early, why not take time to see what the world has to offer? If you’re looking for post-career adventures, you can try out different destinations around the globe.
Regardless of age, retirement is supposed to be a chance to do the things you have always aspired to do, but you’ve always been too busy to try. You can try out some of your neglected hobbies too during your retirement.
If you’re looking forward to retiring and you’re yet to find the perfect retirement destination, you can consider the following places:
Mexico
Mexico guarantees a rustic feel and access to modern amenities, which is why the nation is well suited for retirees that want proximity to the U.S. and a balmy climate. It is also easy to establish residency in Mexico.
As a retiree, you can apply for a temporary resident visa, which can last for up to four years so long as you meet the minimum asset or monthly income requirements. If you want to stay in Mexico for a long, a permanent resident visa will suffice and has higher asset and income requirements.
Portugal
If you look forward to retiring in Europe, you should consider Portugal. Apart from the beautiful landscape, retirees will be attracted to the coastal European locale since the cost of living is low and there is access to modern amenities. English is also taught in schools throughout Portugal, so there is no need to worry about a language barrier when trying to communicate with the local community. You can visit different islands while enjoying the food culture in Portugal.
Spain
The weather is warm, and the culture is welcoming. There is also a variety of environments in Spain. The healthcare system is also well rated, and residents and citizens can easily access public healthcare facilities. You can opt for private healthcare with an insurance policy as a retiree.
There are different visa types available. As for retirees that are outside the EU (European Union) nations, the residence visa will suffice. The first permit usually lasts one year; if you renew, it will last for five years. After that, you can go ahead and apply for a residence visa.
The cost of living usually varies in different cities in Spain. If you’re looking for budget-friendly options, you can settle in the outside cities. The food culture in Spain is also good, and you’re bound to enjoy it.
Costa Rica
Costa Rica is in Central America, stretching from the Pacific to the Caribbean. There are jungles, beaches, and rainforests. The cost of living varies the same as the environment. However, on average, the cost of living is reasonable. For instance, if you choose to reside in San Jose, you’ll be happy to hear the cost of housing is lower than in New York by at least 83 percent. The cost of living is also low.
To become a resident of Costa Rica, you should take advantage of the Pensionado Program, which requires you to have at least $1,000 as your monthly income. The funds are to be transferred to a bank in Costa Rica, and you can withdraw and spend the money on different expenses.
There is also the Rentista program, which is meant for people who don’t have a monthly pension. This program requires at least $60,000 or $2,500 as your monthly income for at least two years.
There are private and public healthcare facilities and they’re readily available. There is a national medical program for the residents, and it is available for everyone, even if you have the option of private care with a private insurance policy or out-of-pocket payments.
Panama
Between the beaches and majestic mountains, Panama offers you the best in the world if you’re a retiree. The locals are known to be friendly and welcoming. The cost of living is also favorable. Almost everything in Panama is affordable compared to the U.S.
If you get a retirement visa, you’ll enjoy numerous benefits such as huge discounts on airfare, entertainment, hotel stays, and local transportation. The only condition is that your monthly income should be $1,000 to qualify for a Pensioner visa. After becoming a retired resident, you can save at least 25 percent on plane fares, restaurant meals, and utility bills. There is also a discount on medication and movie tickets.
Final Thoughts
You might be undecided about your preferred retirement destination; however, after reading through each of the places listed above, you’ve learned more about what each one has to offer. You’re now well suited to make an informed decision about your preferred destination when you retire.
Disclaimer: This article is for informational purposes only and is not intended to be a substitute for professional consultation or advice related to your health or finances. No reference to an identifiable individual or company is intended as an endorsement thereof. Some or all of this article may have been generated using artificial intelligence, and it may contain certain inaccuracies or unreliable information. Readers should not rely on this article for information and should consult with professionals for personal advice.