Exotic Places Where Expats Go To Retire

By Retirement

Every country has a list of favourite retirement destinations and for British expats looking to move overseas, here’s a look at where the Americans go.

Spain, Australia, New Zealand and Canada may be popular with the Brits, but their US counterparts also prefer some more exotic sunshine destinations.

Central and Latin America may be unknown to many, but some countries offer a low cost of living, excellent health care and economic and political stability.

Top of the list is Mexico.

The country may not be a favourite with President-elect Donald Trump, who has pledged to build a wall to stop illegal immigration, but hopping over the southern border is the top US expat retirement choice.

Live well for less than £1,000 a month

Although crime and lawlessness are rife in some areas, Mexico is a huge country with many towns and cities offering a lifestyle on a par with the US and UK, says the International Living Retirement Index.

More than a million US expats live in Mexico and get comfortably by on $1,200 a month – which is around £975 or £11,700.

Beware that UK expats relying on the state pension receive no cost of living increases, so over time, the £159.65 a week (£8,138 a year) from April 2017 will shrink in spending power.

Next on the list are Panama and Ecuador, which have rated highly for retirement with Americans for several years.

Top-notch health care

Panama greets expats with easy residence access and big savings for pensioners on healthcare, restaurants and hotels.

Ecuador is friendly, warm and pleasant with a top-notch health service at low prices. Renting or buying a home is also cheap compared with the US and UK.

Costa Rica is another preferred place to retire.

Security is not a worry – the country has no army, offers a laid-back lifestyle and along with Panama, has a currency pegged to the US dollar.

Expats need an income of between $2,000 and $3,000 a month in all three sunshine countries, which is between £1,800 and £2,500.

Places where Americans go to retire

Source: Internal Living

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