Best Places In The World To Retire

There’s not a big difference in the quality of the things in Mexico and those that are in the United States. How much of your stuff you should move with you to Mexico is going to depend on your preferences. Here in Mexico, they sell really good refrigerators, stoves, ovens, and all the pieces of equipment that you need at home, so there’s no need for you to be carrying them all the way from the United States. 

 

Bring your clothing because...

There’s not a big difference in the quality of the things in Mexico and those that are in the United States. How much of your stuff you should move with you to Mexico is going to depend on your preferences. Here in Mexico, they sell really good refrigerators, stoves, ovens, and all the pieces of equipment that you need at home, so there’s no need for you to be carrying them all the way from the United States. 

 

Bring your clothing because clothing made in the United States is of much better quality than clothing made in Mexico. The rest of the things you need for your home are readily available here in Mexico and can be bought at cheaper prices. There’s really good quality furniture here in Mexico, at much cheaper prices.  

 

(Magy Cardona (your right) shows Jet Metier of Best Places in the World to Retire some furniture options at her resale store Make It Cash, Ajijic, Mexico, pictured.)

To me, the best thing about living in Corozal is the sense of community; knowing everybody. People don’t sit around at the restaurant punching in their cellphones. Instead, they all have conversations.

 

There are lots of gatherings. People play darts a couple of times a week, and they play poker. There are charitable activities as well. They have a little sailing club they established through the local gentlemen and people get involved in the...

To me, the best thing about living in Corozal is the sense of community; knowing everybody. People don’t sit around at the restaurant punching in their cellphones. Instead, they all have conversations.

 

There are lots of gatherings. People play darts a couple of times a week, and they play poker. There are charitable activities as well. They have a little sailing club they established through the local gentlemen and people get involved in the community. That to me is the nice thing.

 

As far as a possible worse thing, if you’re really, really looking to duplicate your American lifestyle in Corozal, it’s not going to happen. There’s no movie theater. There’s no Sam’s Club here.  There is a Sam’s Club across the border, a short drive to Chetumal, Mexico. There is also a Home Depot they just opened and a movie theater in Chetumal.  But for the most part in your local area there you’re going to have to entertain yourself and the infrastructure is a little rough. The roads can be bad, especially out in the country at certain times of the year.  They’re doing a much better job the last few years of keeping the roads drivable but they’re mostly dirt roads.  When you get out there they get washed out, so it’s kind of an adventure drive on some of them.  

 

(Crowd enjoying Independence Day at Jam Rock Bar, Corozal, Belize, pictured.)

Housing is very affordable in Nicaragua even though currently we have a shortage of houses and apartments, which gives the owners leverage over people who are looking for a place to live. The most expensive housing in Central America is Costa Rica, while the least expensive is Honduras. Nicaragua is in the middle. Housing is not extremely cheap compared to the rest of Central America.

 

A 2,500 square foot home with 3 bedrooms, 2 bathrooms in a nice...

Housing is very affordable in Nicaragua even though currently we have a shortage of houses and apartments, which gives the owners leverage over people who are looking for a place to live. The most expensive housing in Central America is Costa Rica, while the least expensive is Honduras. Nicaragua is in the middle. Housing is not extremely cheap compared to the rest of Central America.

 

A 2,500 square foot home with 3 bedrooms, 2 bathrooms in a nice area would cost around US $1,000 to $1,200 to rent. If you buy, then it will be in the $200,000 range. Electricity in Nicaragua is one of the most expensive commodities in Central America, but the rate is different by zones in Nicaragua. The rate you pay depends on where you live. We don’t have a standard price for the electricity. So even though we have the highest rates for electricity in Central America, the cost of electricity could be very cheap in some areas. Even Managua has different prices and the price depends on the neighborhood. The upper class areas pay the most for electricity.

 

You can have a $200,000 home in front of the beach and pay only 1,000 Cordobas (about $37) per month for electricity. It might not make sense, but that is how the system works here in Nicaragua. If you live in the best neighborhoods in Managua, you will pay high electric rate. If you live in the beach communities, then the prices are lower.

 

I know many families who are moving back to Nicaragua because here we have a low cost of living. We don’t pay high property taxes. We can pay property taxes every 3 years. If you are moving from the US, there are some laws that will allow you to have a residency and have tax breaks and tax incentives. You can move your things into Nicaragua without paying anything. Here in Nicaragua, the dollar is stable; it doesn’t fluctuate a lot like in other countries. If you sell your dollars in Nicaragua, you’ll see that it has more value here than in the US.

 

The prices of anything that you buy in the supermarket are very stable, too. Inflation is very low here. All these give the people (and you, if you live in Nicaragua) great purchasing power.

There are a variety is issues which could give rise to avoid retiring overseas.  Of those reasons, herein are my “top 3” worst reasons to retire overseas:

 

HEALTHCARE

 

While some jurisdictions may, in fact, have superior healthcare facilities to those in the United States, the healthcare services of many countries are far inferior to those in America.  Consistent access to quality medication at affordable...

There are a variety is issues which could give rise to avoid retiring overseas.  Of those reasons, herein are my “top 3” worst reasons to retire overseas:

 

HEALTHCARE

 

While some jurisdictions may, in fact, have superior healthcare facilities to those in the United States, the healthcare services of many countries are far inferior to those in America.  Consistent access to quality medication at affordable rates can, surprisingly, be more challenging than you may realize.  Also, when you are of retirement age and experience a serious medical challenge, it can be extremely expense, if not life threatening, to travel (or be transported) to a neighboring country which has qualified physicians needed to properly treat your ailment.  While you may do your best to choose a favorable jurisdiction for your golden age, countries which boast low-cost retirement havens often lack proper medical facilities.

 

FAMILY AND FRIENDS

 

Assuming you have children, you may find yourself missing out on watching your grandson’s first baseball game or granddaughter’s communion.  Lifelong friends, who are also of retirement age, may not have the resources to come and visit you but once every few years.  Unless you are part of a small community to provide you with the emotional support needed to maintain a healthy emotional state of mind, it is easy to become increasingly depressed living isolated from family and friends.  Are you mentally and emotionally prepared to communicate with your closest of friends and family via video or social media?  When you no longer wish to travel back to the United States, there may be extended periods of time when no comes to visit you either.

 

FINANCES AND EXCHANGE RATES

 

Lack of finances ranks among the primary causes of tremendous stress.  Unless you have reasonably substantial savings for your retirement, you may find yourself in an extremely uncomfortable position overseas.  Adding insult to injury, if you wished to work part-time to generate some additional income, most retirement visa’s do not allow for any formal work to be undertaken by a retiree as it places unnecessary burdens on the local community whom often struggle with finding work for their families.  Additionally, currencies and exchange rate are subject to slow degradations as well as massive swings.  Meaning, you may have moved to a country wherein you enjoyed a favorable exchange rate when you arrived but find yourself getting far less ‘bang for your buck’ as time moves on.