As global travel has increased over the years, many seniors want to continue the adventure of exploring the world by retiring abroad. Others move to new places to stretch their retirement income or enjoy new experiences.
According to recent data from the United States Social Security Administration, more than 700,000 Americans receive their payments abroad.
Medical care, visa requirements, local culture, taxes, and living costs are all part of the decision to retire to another country. With so many considerations, it’s a good idea to get professional advice, and advisers recommend spending at least several months in a potential retirement destination before you make a move,” said the magazine’s travel specialists.
In that sense, 10 of the best places to retire in the world, according to Travel + Leisure, are:
3- The Dominican Republic because it is considered one of the least expensive Latin American countries for retirees, according to data from the magazine. In Santo Domingo, the capital, the cost of rent is 90% lower than in New York, and the cost of living is 55% lower. Its location is another advantage for some retirees.
Most retirees purchase private health insurance as they are not eligible for government programs, and quality medical care at private hospitals is available at reasonable prices. Retirees can enter the country on a tourist visa and then apply for a retirement visa, which takes several months.
Most ex-pats live in the cities of Santo Domingo and Santiago, and there are beautiful resort towns like Punta Cana, Puerto Plata, and Boca Chica. However, certain areas are not considered safe, so do your research before moving.
The list continues with:
5- Costa Rica
10- United States