What are the top expat retirement spots for 2022?
Did you know that your pension and/or retirement savings can go a longer way abroad than it does in your home country? There might also be other benefits like warm weather, delicious food, and a thriving retirement community to be a part of. It’s no wonder that many retirees are in awe of the expat lifestyle in their golden ages and move abroad to the likes of Mexico, Portugal, Thailand, and more. While there’s no objective ‘best place to live after retirement’, this Pacific Prime Latin America article explores some of the top expat retirement spots in 2022 from a North American perspective.
Planning for retirement abroad
Sipping coconuts on the beach sounds like a great retirement plan, but is it one that’s practical for you? Before you pack your bags and head to your dream destination, it’s important to set retirement goals (i.e. what kind of lifestyle are you after?), have a financial plan (i.e. how are you going to fund this?), and research into factors like healthcare, safety, and more (i.e. are there any challenges to consider?). The sooner you start planning for retirement abroad, the easier it’ll be to turn your dream into reality.
Choosing a country
If you don’t know where to live after retirement and are open to exploring possibilities, you can consider the ones on the ‘Live and Invest Overseas’ index. As a resource for people who want to live, retire, and invest overseas, the index comes up with the top 15 expat retirement spots (plus the monthly budget needed to live there) using indicators like living, costs, health care, entertainment, recreation, English proficiency, expat community, infrastructure, access to North America, environmental factors, crime, real estate restrictions, residency, and taxes.
Top 15 expat retirement spots
Unsurprisingly, about a third of the countries on the index are in the Latin American region – a region that is a consistently popular retirement destination for expats.
- Comporta, Portugal – Monthly budget is USD $2,935
- Puerto Vallarta, Mexico – Monthly budget is USD $1,820
- Cayo, Belize – Monthly budget is USD $1,588
- Northern Cyprus – Monthly budget is USD $1,180
- Paris, France – Monthly budget is USD $4,202
- County Clare, Ireland – Monthly budget is USD $2,360
- Città Sant’Angelo, Italy – Monthly budget is USD $1,804
- Salinas, Ecuador – Monthly budget is USD $1,893
- Phuket, Thailand – Monthly budget is USD $1,190
- Las Terrenas, Dominican Republic – Monthly budget is USD $1,420
- Santa Marta, Colombia – Monthly budget is USD $1,398
- Kotor, Montenegro – Monthly budget is USD $1,755
- Tierras Altas, Panama – Monthly budget is USD $ $2,749
- Istria, Croatia – Monthly budget is USD $2,110
- Ubud, Indonesia – Monthly budget is USD $953
Healthcare for retirees
Health problems are likely to spring up the older we get. That’s why the cost of healthcare and access to healthcare is such an important consideration for expat retirees, and one that almost all retirement indexes look into. As a global health insurance brokerage in Latin America, healthcare in the region (including Mexico) is right up our alley. Rest assured, we can guide you through everything you need to know to be in control of your finances and health as you age.
Secure retiree health insurance via Pacific Prime Latin America today!
In addition to guiding you through the healthcare systems, we also help you secure private health insurance so that you can avoid overcrowded facilities and any language barrier in the public healthcare system and benefit from world-class healthcare and comfortable amenities in the private healthcare system.
Our highly-trained insurance advisors can help you source the best retiree health insurance plans in the region and match them to your needs and budget, as well as provide heaps of support and assistance along the way.
Contact us today to get started!
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