Best Places In The World To Retire

If you are on vacation here in Managua, jeans and shorts are OK. Expats usually wear t-shirts, shorts, and flip-flops, and that is fine with us. We know that it is really hot here in Nicaragua and that is why people want to dress comfortably.

If you are on vacation here in Managua, jeans and shorts are OK. Expats usually wear t-shirts, shorts, and flip-flops, and that is fine with us. We know that it is really hot here in Nicaragua and that is why people want to dress comfortably.

What are the best places in the world to retire? That would depend on a number of factors... For most people who spent their lives fighting endless winters and grew tired of scraping their windshields with an ice pick, the answer is deceptively simple: "A beach, and plenty of sunshine!" Libya has terrific beaches, and Somalia enjoys sunshine all year round, for example, and although you might be tempted to explore those and many other exotic countries, you wouldn't necessarily...

What are the best places in the world to retire? That would depend on a number of factors... For most people who spent their lives fighting endless winters and grew tired of scraping their windshields with an ice pick, the answer is deceptively simple: "A beach, and plenty of sunshine!" Libya has terrific beaches, and Somalia enjoys sunshine all year round, for example, and although you might be tempted to explore those and many other exotic countries, you wouldn't necessarily consider retiring there.

 

If you're coming from the United States or Canada, you still have five continents to choose from, barring Antarctica presumably. Australia offers a solid language advantage, but down under is a bit far away, especially if you plan to stay in touch with your relatives at home. In Asia, unless you are of Asian descent, as well as in Africa - even if you are of African descent - you would not blend in easily, because the mentalities are very different (I love Africa, where I spent my teenage years). Europe is a nice place to visit, but notoriously expensive (which is what Europeans say about New York City, invariably adding that they would not live there). That leaves South America. Taking into consideration the northward migratory tendency of México, which must hint at something, and the distance factor of countries like Argentina or Chile, which endure chilly winters (think penguins), or beautiful countries in constant political turmoil, such as Venezuela, we are left with Central America and the Caribbean. The 700 or so islands that constitute the Caribbean are very attractive, but they are not in the same league as Central America in terms of size and infrastructure. Vacationing in a picturesque location is not the same as starting a new life in a new country... Therefore, let's focus on the seven countries that make up Central America: El Salvador, Guatemala, Belize, Nicaragua, Honduras, Costa Rica and Panama.

 

The best places in the world to retire should satisfy a few basic requirements:

 

Political climate: Nicaragua is headed by former Sandinista revolutionary Daniel Ortega, a stalwart U.S. critic. At the inauguration of his third term (2012), he was hugged by close friend, the late Hugo Chavez (Venezuela) and Mahmoud Ahmadinejad (Iran). Honduras is recuperating from a serious crisis (2009) where basic constitutional rights were suspended. Belize's independence was recognized by Guatemala in 1992, but persistent territorial disputes are still unsettled. Guatemala, where the median age of the population is 20 years, held a democratic election in 2011. El Salvador's current president represents the Farabundo Marti National Liberation Front. In contrast, both Costa Rica and Panama have consistently held transparent democratic elections for many years and maintain no army.

 

Language: English is the official language in Belize, although Spanish and Creole are prevalent. English is widely spoken in Costa Rica and Panama, where many expats have relocated, but mostly by the educated elites. They are not bilingual countries, but conversational Spanish is not difficult to achieve. Learning a second language will do wonders for maintaining your brain fitness.

 

Tourism: All of Central America offers beautiful beaches and a varied geology including mountains and rainforests, with access to Indian cultures and plenty of ecotourism opportunities. Guatemala, Honduras and Belize share Mayan archeological treasures. Belize and Panama are sport fishing and diving paradises. The tropical climate is warm, without being overwhelming and you don't necessarily need to pack suits and ties. There are plenty of golf courses in Panama and plaid shorts are optional.

 

Accessibility and infrastructure: Panama has long been a bridge between the Americas. (It's not that hard to pinpoint it on a map... Try finding Belize!). The Panama Canal, an astounding engineering feat, connects the Atlantic and the Pacific Ocean and is doubling his capacity with the ongoing construction of a third set of locks at a cost of US$ 5.2 billion (don't miss the opportunity to visit the amazing construction site!). While driving in the capital can be challenging at first, the country is equipped with an always expanding and well-maintained highway system. Daily flights connect with the United States or Europe. A direct flight to Miami, FL takes only two and a half hours. A new international airport is under construction in the central provinces (Rio Hato) to better connect the beaches with the rest of the world and will be inaugurated in July 2013. A modern subway system (Metro) is under construction in Panama City. The aging fleet of recycled school buses, the colorful "Diablos Rojos", has been phased out and replaced by brand new air-conditioned Volvo modern buses.

 

Cost of living:  In all of Central America, housing, food and services are generally affordable, including household help and medical services. Heating bills are rarely a concern and air conditioning is mostly reserved to bedroom usage, while many are content with a ceiling fan. Predictably, the cost of living is higher in metropolitan and touristic areas, while smaller towns offer cheaper opportunities and a more relaxed environment.

 

Safety: Even in former revolutionary hot spots like El Salvador or Nicaragua, the level of safety has generally improved, with the exception of Honduras. Panama however enjoys a distinctive status, since an amendment to the Panama Canal Treaty provides the United States with the right to intervene - including with military power if necessary - should the safety of the Canal be endangered.

 

Medical facilities: Many expats have elected to reside in the affluent neighborhood of Punta Pacifica (home to Trump Ocean Club) within walking distance of the state-of-the-art Johns Hopkins affiliate Punta Pacifica Hospital, located opposite the elegant Multiplaza Mall (for those Cartier, Hermès, Vuitton, Apple and Tiffany emergencies). That top-of-the-line hospital illustrates the reason why Panama is receiving an influx of "medical tourists": world-class medical care at discounted prices. Doctors and surgeons have received their training in the best U.S. universities and clinics and speak fluent English. Retirees enjoy discounts on medical visits, procedures and prescriptions. Appointments with a specialist are usually granted the very same day!

 

Cultural life and entertainment: Honduras, Belize and Guatemala offer well-preserved archeological monuments - at least for the time being since a Mayan temple was recently bulldozed in Belize to make gravel for a road construction (progress comes at a price). Panama provides a vibrant nightlife with top rated musical performances and artistic venues of all kinds, not to mention nightclubs, bars and restaurants that can rival those found in Manhattan. The stunning Museum of Biodiversity, designed by renowned architect Frank Gehry, located at the entrance of the Canal, is about to open and will host countless exhibitions.

 

Stable economy and currency: In most Central American countries, you'll need to get acquainted with the local banknotes (and keep a calculator handy) such as the Lempira (Honduras), the Quetzal (Guatemala), the Cordoba (Nicaragua) and the Colón (Costa Rica).  In El Salvador, the U.S. Dollar became legal tender alongside the Salvadoran Colón in 2001. (In spite of this, El Salvador suffers from the lowest level of foreign investment in Central America). Belize's currency is also called Dollar, but it features the portrait of the Queen of England. Panama, on the other hand, has no central bank and does not print currency. Panama's economy has been fully dollarized since its inception more than a century ago and the only banknotes in circulation bear the familiar faces of Washington, Lincoln, Jackson and Franklin. No need for foreign currency exchange tables. Even Panamanian coins have the same weight and denominations as cents, dimes and quarters. Whatever you purchase in Panama, be it a house or a drink, will be priced in U.S. Dollars, which means you won't have to wonder if the Lempira is down or the Quetzal is up. I was recently attending a real estate convention in Vegas and I was commenting on the healthy state of the economy in Panama, where per capita GDP has more than doubled over the past decade with average annual growth rates of 8.5%, when a fellow Realtor started a fascinating discussion about the merits of Costa Rica. When he was about done, I innocently asked if by any chance he was carrying Costa Rican money in his wallet. He was, and gladly passed it around. I then offered to show some Panamanian banknotes and reached to my own wallet, extracting a handful of U.S. Dollars... At that point, we switched to another topic.

 

Welcome level: As soon as they arrive in Panama, travelers are given a card providing FREE healthcare insurance for 30 days, courtesy of the government. Panama offers the best retirement program in the world, with substantial discounts on most everything: medical expenses, meals, entertainment, lodging, travel, etc. All this is not based on age requirements, only on the condition of receiving a pension, which may qualify you for permanent residence, the celebrated "pensionado" visa. Most importantly, and I can personally vouch for it, Panamanians are genuinely welcoming. They tend to look up to foreigners and are as eager to share their culture as they are to learn about yours. This is just one of the reasons I believe Panama is one the best places in the world to retire.

 

[Editor’s note: According to a press release August 1, 2014, the Panama Authority of Tourism stated that no charge tourist insurance coverage is no longer being offered.]

Portugal is divided into three regions—north, center, and south. The southern part of Portugal is more rural and is where we tend to get a lot of European expats from Germany, England, and France. The center of Portugal, where Lisbon is included, we tend to get other nationalities, such as Brazilians, we’re starting to get some Americans, Canadians, and even from Asia; Japanese. And then in the north of Portugal, we get a lot of expats from the the wine producing countries,...

Portugal is divided into three regions—north, center, and south. The southern part of Portugal is more rural and is where we tend to get a lot of European expats from Germany, England, and France. The center of Portugal, where Lisbon is included, we tend to get other nationalities, such as Brazilians, we’re starting to get some Americans, Canadians, and even from Asia; Japanese. And then in the north of Portugal, we get a lot of expats from the the wine producing countries, people from New Zealand, Chile, and South Africa because this region is very famous because of the Port Wine.  There are a lot of wine vineyards up north in Portugal and these people come to retire because of the weather, because of the lifestye, and many other factors. They tend to come straight to the north of Portugal.  There are also a lot of old beautiful palaces and villas for which the purchase price in Portugal is very affordable for people coming from these countries. So it tends to be divided. Europeans go more to the south of Portugal, the wine-producing countries go to the north of Portugal, and in Lisbon it’s a mixture of many cultures.
 
In order to make any generalizations about the expats in Portugal depends a lot on the age factor.  Several weeks ago the Portuguese Tourism Board released a brilliant video just with foreigners, expats talking about our country. In this video are shown people from all ages, from all sectors talking about our country. From a scientist to doctors, to architects—every single field is represented and there’s someone telling their story about Portugal.
 
The view of these people of Portugal is that it’s great living here.  When, as a country, we struggled economically a few years ago, we immediately understood that we’re dependent on every single penny that entered our country. So for a long time, 500 years ago when we started discovering the world, we’re all in contact with many cultures and we had to have a lot of public relations in our blood to achieve what we did. We negotiated with India, Asia, Brazil, and that made us a very easygoing culture. We’ve adapted through all these years and when we had the economic struggle a few years ago, we knew immediately that we had to treat foreigners very well coming here so they would remain and they would spend their money here and they would help us economically. So therefore, we got used to that way to exchange information with foreigners and the process had been like this for the last 20 or 30 years.
 
In Portugal we like foreigners because the foreigners have done a lot of good for us that helped develop our country. So we are very grateful for the foreigners; very, very grateful. And we all have open smiles, we open our houses to foreigners, we invite them with food because we’re so eager for them to get to know our culture that we receive them very well. Our opinion about foreigners is wonderful; it’s great, absolutely great. 
 
Recently, there have been a few issues because the European Union now is wide open, and because of all these problems with the Middle East and we have become a bit suspicious of some of the people from Middle Eastern countries, but with the rest of the world we are completely open-hearted.  

 

(Visitors at Blue Hostel and Suites, Cascais,  Portugal, pictured.)

El Valle de Anton is pretty safe. It is a Third World country and nothing’s ever completely safe, but compared to the rest of the world, I feel safe here.  In the United States, there is more police presence. In Panama, it’s a little bit different. You and your neighbors look out for one another, which is something that does not happen in the States, as much as it does here.

I was mugged once in the United States and thrice in Panama City. I have never been mugged in...

El Valle de Anton is pretty safe. It is a Third World country and nothing’s ever completely safe, but compared to the rest of the world, I feel safe here.  In the United States, there is more police presence. In Panama, it’s a little bit different. You and your neighbors look out for one another, which is something that does not happen in the States, as much as it does here.

I was mugged once in the United States and thrice in Panama City. I have never been mugged in El Valle. Like I said, my neighbors and I are very well acquainted with one another and we look out for one another. In other areas, people do not know and understand that you have to rely on your neighbors. I’ve heard a lot from other folks who are expats who come down to Panama and aren’t used to this sort of arrangement. They find themselves alone and stuck “out in the wind” and there is a greater chance of a crime being committed against them because they don’t have a good system around them. To get to know your neighbors, go up and introduce yourself. You’ll find that people are very receptive toward people who introduce themselves and want to know their neighbors.

I would tell anybody moving to Panama to get a dog, which is the best security system you can have in that world. Most thieves leave when they hear a dog. If the thief hears a dog and sticks around, there is something wrong with him mentally.