Best Places In The World To Retire

One of the best things about living and retiring in Chapala and Ajijic is the climate. What I enjoy most is having my windows open pretty much all year whereas in Ottawa we would have the windows closed up. We would always play a lot of music in Ottawa but here in Chapala and Ajijic, the sound of the birds is our music. We have skylights to get more natural light in the house so we don't need to use electric lights during the daytime. I love the fact that my terrace seems like an...

One of the best things about living and retiring in Chapala and Ajijic is the climate. What I enjoy most is having my windows open pretty much all year whereas in Ottawa we would have the windows closed up. We would always play a lot of music in Ottawa but here in Chapala and Ajijic, the sound of the birds is our music. We have skylights to get more natural light in the house so we don't need to use electric lights during the daytime. I love the fact that my terrace seems like an extension of my living room and I get to spend most of my time outdoors rather than indoors. When I go back to Ottawa, I feel almost claustrophobic because everything is a little bit dark and closed up to keep either the air conditioning lower in the summer or furnace lower in the winter time. I don't have the fresh air in Ottawa like I do in Chapala and Ajijic.

 

Another best thing about living and retiring in Chapala and Ajijic are the people. I have made friends here in Chapala and Ajijic that will last me a lifetime. In Ottawa I went to work and barely knew my next-door neighbors, whereas in Chapala and Ajijic I really have time to foster relationships. The expats that come to Chapala and Ajijic have been to different parts of the world and are better educated so we have a wealth of interesting people to associate with. When you go out to dinner, you never know who you're sitting next to. People from all walks of life have discovered Chapala and Ajijic, which has enriched our lives tremendously. Back in Ottawa, we would be limited to visiting friends from work, church or university. People who are fearful of living in Mexico, like being suspicious of everything and everyone, don't stay very long. If my husband goes first, I have absolutely no urge to go back to Canada. Chapala and Ajijic is home for me and I know that I will be okay here. There are people who really look out after each other.

 

The slow Internet speed would be one of the worst things about living and retiring in Chapala and Ajijic. The Internet connection is sporadic making it unreliable and it drives me crazy. Also, Mexicans do not have the same work ethic like we have in Canada. I'll get up in the morning and make a list of 20 things I want to get accomplished for the day but I can’t get them done because for example this place didn't open at 9:00 AM, or that place is closed and the other place doesn't have what they say they have. You just have to slow down and just be happy with getting 3 or 4 things accomplished in a day.  Then it’s time to chill and have a margarita.

 

(Terrace overlooking the pool and lake, Ajijic, Mexico, pictured.)

Getting a cell phone in Portugal could be free if you are on a contract or a postpaid plan. Otherwise, it could cost anything from zero to € 1,000 (US $ 1,100 or £ 740). An iPhone 6S costs around €800 (US $ 880 or £ 590) at the moment. The latest Samsung would cost you about the same amount, more or less. Cellphone service is cheap. You can get unlimited calls for just €7.50 (US $8.25 or £ 5.50) a month.

 

Generally,...

Getting a cell phone in Portugal could be free if you are on a contract or a postpaid plan. Otherwise, it could cost anything from zero to € 1,000 (US $ 1,100 or £ 740). An iPhone 6S costs around €800 (US $ 880 or £ 590) at the moment. The latest Samsung would cost you about the same amount, more or less. Cellphone service is cheap. You can get unlimited calls for just €7.50 (US $8.25 or £ 5.50) a month.

 

Generally, telecommunications is neither cheap nor expensive.  You can get a full package, which includes your fixed line phone that also includes your cable TV with a couple hundred channels, a couple of mobiles for that package, and unlimited calls to European landline numbers in the evenings and weekends for around €30 (US $ 33 or £ 22) to €40 (US $ 45 or £ 30) a month. You can also add special services like unlimited calls to Europe during the day, which is great if you have business calls, for an additional €5 (US $5.50 or £ 4) a month. You can personalize the package according to your needs.

 

(Vodafone logo in Portugal, pictured.)

 

There is a ton of adventure travel in and around Ambergris Caye, but there’s also a lot of adventure travel on the mainland of Belize, where they have lots of day trips.  You can get to the mainland of Belize from Ambergris Caye by water taxi. It’s not too far but if you take the water taxi, then it would be a whole day for a half-day tour. 

 

When you go to the inland of Belize, there are a lot of Mayan...

There is a ton of adventure travel in and around Ambergris Caye, but there’s also a lot of adventure travel on the mainland of Belize, where they have lots of day trips.  You can get to the mainland of Belize from Ambergris Caye by water taxi. It’s not too far but if you take the water taxi, then it would be a whole day for a half-day tour. 

 

When you go to the inland of Belize, there are a lot of Mayan ruins that you can visit.  There are also some Mayan ruins down on Ambergris Caye just south of the main town of San Pedro. 

  

On the island of Ambergris Caye itself, you can go snorkeling, diving, paragliding, wind surfing, and many other activities.  Or, you can even explore the island by yourself. You can also get tour guide and go to the nature preserve. There is a lagoon up north that has crystal clear waters. If you go snorkeling or scuba diving, you will see some beautiful coral and fish. 

 

(Pictured: wind surfing off Ambergris Caye, Belize.)

Banking overseas is becoming more and more difficult for US citizens thanks to the HIRE Act and the regulations placed on foreign banks.   Many foreign banks have simply stopped serving US citizens as a way to comply with the HIRE Act.  Banks that do accept US citizens for accounts have increased paperwork and due diligence fees.  Many banks will not open an account for a US citizen unless they are a permanent resident of the country they are living in.  Some...

Banking overseas is becoming more and more difficult for US citizens thanks to the HIRE Act and the regulations placed on foreign banks.   Many foreign banks have simply stopped serving US citizens as a way to comply with the HIRE Act.  Banks that do accept US citizens for accounts have increased paperwork and due diligence fees.  Many banks will not open an account for a US citizen unless they are a permanent resident of the country they are living in.  Some countries like Belize still allow US citizens to open accounts and some banks do not require a physical visit to open an account.  That list is getting shorter and shorter.   

 

It is possible to live overseas without a local bank account.   Friends of ours lived in Nicaragua for 3 years without a bank account.  They paid all their bills and shopped with credit cards and withdrew cash from the ATM to pay their rent.  It is possible but can be challenging as they related from time to time.   

As in many countries in the world, you find corrupt people, both in government and in the private sector as well, and Nicaragua is not an exception.

 

In the private sector we recommend that investors and businesspeople in general include a provision for arbitration through the through the Chamber of Commerce in all their contracts.

 

As in many countries in the world, you find corrupt people, both in government and in the private sector as well, and Nicaragua is not an exception.

 

In the private sector we recommend that investors and businesspeople in general include a provision for arbitration through the through the Chamber of Commerce in all their contracts.

 

The first step to open a bank account in Panama is to be here in Panama, because you have to meet with the bank manager. If you’re an American, you should know that the banks here are pretty strict when it comes to compliance with FATCA. Apart from that, it should be very easy. As an American, you can open a bank account here in a matter of three weeks. For other nationalities, it only takes about a week to open a bank account. The process is longer for...

The first step to open a bank account in Panama is to be here in Panama, because you have to meet with the bank manager. If you’re an American, you should know that the banks here are pretty strict when it comes to compliance with FATCA. Apart from that, it should be very easy. As an American, you can open a bank account here in a matter of three weeks. For other nationalities, it only takes about a week to open a bank account. The process is longer for Americans because there are compliance issues with the IRS, etc. 

 

There are banks in Panama that do not want to open accounts for Americans anymore because the costs of complying with the IRS and FATCA has become greater than the benefit that they receive from dealing with American clients.  

 

Panama is currently on the Gray List (an official list of countries that need to be more strict in monitoring money laundering activities), so they are tightening up all security and due diligence when it comes to their clients. As a result there is a law here saying that the bank has to know who its client is. A bank cannot just open up a bank account for somebody it doesn’t know, so part of the compliance with this is meeting with the person who wants to open the account. If you apply for a bank account, they will talk with you, and they will check your documents. You have to bring two bank references and one personal reference. The bank then does their own due diligence, including looking you up online. 

 

(Pictured: Panama City, Panama skyline at night.)