Where to retire? It can be difficult to determine where the best places to retire overseas are. Before you leave the country, try living in your would-be retirement country, so that you can be sure if you will be comfortable in your new home. You should spend no less than six straight months outside of the country. You will need at least that long to get a real feel for your new country.
These are three locations to consider if you want to retire overseas because they combine low costs of living, rich culture, good infrastructure, inexpensive real estate, reasonable safety, clement climate, and discounts for retired people.
Retirees – boomers, those folks who want to retire early or retire young, and those who simply want to live abroad – looking for a great place to live should give serious thought to Panama City. You get the advantages of living in a big city yet none of the disadvantages. Compared to similar housing in the U.S., property prices are a bargain. You can also shop in a variety of stores while enjoying pleasant winters, beautiful beaches, and low costs. Best of all, retirees with a monthly income of $ 500 of greater ($ 600 for couples) need only receive this money from a private pension program or a government program such as Social Security to qualify for a wide array of benefits.
You are allowed the following benefits: 1) Freedom from paying import taxes on a new vehicle each two year period and 2) It gives worthwhile reductions on the price of things like movie tickets, concert or theater performances, sports games, travel tickets, hotel stays and restaurant bills. Should you want to purchase real estate in this location, discounts are given of one percentage point lower on mortgage charges up to 25 percent of what would be due when you close the deal.
Panama is quite hot during the summer, so you may want to leave the country during the summer months. You may have problems communicating if you don’t speak Spanish, even though a lot of people do speak English. Although you may be able to get away with not knowing the language of your new country, it’s not a good idea. Learning your new country’s language will make it much easier to adjust, and will generally help you learn more about the culture. You’ll feel more like a native and less like a permanent tourist.
New Zealand, a land of naturalistic beauty and mountains that seem to soar into the sky, appeals to many individuals from all parts of the globe. This attraction becomes all the more enticing when you consider the great real estate bargains and opportunities to be had and no capital gains taxes! Auckland, the New Zealand capital, offers all of the amenities of a major city, such as shopping, entertainment, and a host of other activities to enjoy while experiencing a low cost of living. Unfortunately for older retirees and seniors, the New Zealand immigration policy favors younger immigrants to the island. As a result of this difficult process, some seniors may opt to reside part time in New Zealand and part time at another location. Young people and early retirees can bypass these issues based on the aforementioned immigration process. Fortunately for U. S. retirees, New Zealand summers and winters fall at opposite points of the calendar from those in the U.S. and other locations in the northern hemisphere.
Many Americans feel that Mexico is a wonderful retirement haven due to its accessibility and close proximity to the U.S. In some sections of Mexico, you will receive more for your money. A retiree can live on a minimal budget and still receive a wallop for dollar; that is, a buck can go a long way. Moreover, Mexico is rich in both history and culture. The Spanish colonization of Mexico lasted for over 300 years. Consequently, the Spanish culture is deeply rooted here. In addition to being a retirement haven, Mexico is also a place which features great varieties of food that reflects its rich cultural background. Mexican cuisine is well known for its robust and diverse flavors, vibrant embellishments, and assortment of spices and herbs. Mexicans are exceptional cooks who integrate savoir faire and zest to any dish.