Best Places In The World To Retire

The cost of QUALITY  Medical attention in Mexico, is about 30% of what would cost in the US and Canada. This can look like a simplistic estimate, but its purpose is to give a general idea. Numbers are the name of the game.

 

If you wish to get that type of attention, then your Insurance premium should be budgeted at about 30% of what costs in your country, Not too bad, because back home you are used to participate with a good chunk of the medical bills,...

The cost of QUALITY  Medical attention in Mexico, is about 30% of what would cost in the US and Canada. This can look like a simplistic estimate, but its purpose is to give a general idea. Numbers are the name of the game.

 

If you wish to get that type of attention, then your Insurance premium should be budgeted at about 30% of what costs in your country, Not too bad, because back home you are used to participate with a good chunk of the medical bills, even if you have insurance. (Prescription drugs, high deductibles, copays, not covered procedures, etc.) 

 

Discounted prices will buy you discounted coverage. 

 

México is known for its big social and economic differences. There is an intended "Universal Health System", which works well for the poor. For your maid, gardener, store clerk, or waiter. You can hire full time one of those service providers for $250 USD a month, or less. What kind of medical service can they buy with that salary?  Seguro Popular, or if the employer is law abiding and has a formal payroll, IMSS. (Less than 50% of workforce have a formal, benefits including employment) My father died of stomach cancer, probably because he was not diagnosed until it was too, too late.  He was going every month to the IMSS clinic, complaining of acute stomach pain, but prescribed omeprazol and a strict diet. (Yes, the physician visits and the omeprazol were free).  Again, numbers are the name of the game. How can 1 tertiary level hospital (the ones fully equipped) be enough to serve an average 2 million people?

 

Those who can afford private Health Insurance, or the higher corporate executives (No more than 15% of Mexican Population. They are the ones using the nicest hospitals, seeing the most qualified specialists and using the most sophisticated diagnostic equipment. If you make more than 25 k USD a year, or have more than $500,000 USD in cash or personal assets, then Congratulations! You belong to this upper class in México, and should be able to invest in your Health coverage.

 

But health care in Mexico can be very expensive. More than 50% of the total medical costs are paid out of pocket.  People enrolled in IMSS or Seguro Popular, prefer to go to private providers, because of the availability. There are many poorly equipped private clinics and hospitals. In many cases, you get half of what you pay for. When there is the need for a costly medical procedure, we incur in heavy debt or sell personal assets, including the house. “The goods are for remediate the bads”, we say. Are you ready to embrace our culture?

 

I would suggest for a retiree, to spare about 30% of his/her income for health care. You can invest part of it on a good wellness program that includes exercising, check-ups, good supplements and insurance. If you do not invest some sooner, you will spend it later in medical treatments.

 

If you do not have medical service back home, and you cannot afford Insurance or Quality out of pocket Medical Attention, or you are not eligible for one, or you have pre-existing conditions that are not covered, or if you have one of those "Critical Illness" or "Catastrophe Insurance", or high deductibles policy, then is a good idea for you to enroll in the Social Health System, assuming that you are eligible

 

Deductible in México, should not be more than 30% of your foreign deductible.

 

The average claim paid by Mexican insurance is about $4,000 US Dollars. Insurers negotiate lower rates with providers. If you go straight to the doctor or hospitals you can be charged twice as much. For those reasons I suggest your deductible in Mexico to be between $1,000 and $1,500 USD. It works per each illness. Very different from US or Canada. If your policy has a deductible of $4,000 USD or more, you are ruling out most of the medical procedure performed in México.

 

 

Most local Nicaraguans wear jeans and a clean, pressed shirt or polo shirt in Managua.  Women usually don't wear shorts.  In the States lots of people go to the mall or grocery store in their sweats, short shorts and flip flops.  We don't see this in Managua.  Even our maid wears a nice ironed blouse, make up and fancy shoes when she leaves the house.  

 

Most local Nicaraguans wear jeans and a clean, pressed shirt or polo shirt in Managua.  Women usually don't wear shorts.  In the States lots of people go to the mall or grocery store in their sweats, short shorts and flip flops.  We don't see this in Managua.  Even our maid wears a nice ironed blouse, make up and fancy shoes when she leaves the house.  

 

One very good reason to retire overseas, based on my experience working with retirees moving to Nicaragua for the past 9 years, is to have a lower cost of living and a great quality of life "south of the border". 

One very good reason to retire overseas, based on my experience working with retirees moving to Nicaragua for the past 9 years, is to have a lower cost of living and a great quality of life "south of the border". 

We got burned a couple to times moving to Panama.  After talking to lots of other expiates and locals that travel a lot, we find the best thing you can do is gets lots of references and then research the businesses recommended.  A well known business recommended the initial mover who turned out to be a thief.  We finally got a small palette of household stuff 4 months after it was supposedly shipped.  The car that was supposedly shipped didn't get here at all. ...

We got burned a couple to times moving to Panama.  After talking to lots of other expiates and locals that travel a lot, we find the best thing you can do is gets lots of references and then research the businesses recommended.  A well known business recommended the initial mover who turned out to be a thief.  We finally got a small palette of household stuff 4 months after it was supposedly shipped.  The car that was supposedly shipped didn't get here at all.  We were finally able to find the car still in the USA at a mover's storage yard.  We now have a reliable shipper from the USA and a receiving agent on the Panama side.  Also the attorney we are using is one of the best in the business and she is frustrated with Immigration because they have lost part of our package as well as some other clients' paperwork. 

 

Political "payback" is alive and well in Panama.  Our 2 autos sitting in the storage area of customs is costing $15 per car per day.  Now we have to hire transportation to the City to the American Embassy to have the same paperwork verified before the process can continue.  We have our permanent Sedulas (residency visas) but the government still requires we have all the paperwork re-verified to get the Pensionado Discounts on importing the autos.  Needless to say this process is complicated and costly.  If it hadn't been a new car, (only 1 1/2 yrs old) we would not have done it.  The company that was storing our car in the USA was great.  They didn't charge us for storage; just the cost of transporting it from NC to Miami, FL!  Wish we had known them in the 1st place.  Unfortunately, the saga continues.

 

If we had to do it over again,  we would have done a lot more research, called and talked to a lot more businesses and made sure we had written contracts that were very specific and filed with the courts here and in USA.  We will not get the money that was stolen most likely because we only have e-mails and bank transfers.  Plus attorney and court costs will cost in the range of what was stolen.  We have been told the courts here lean away from the expat.  This person was also selling real estate so you must be very vigilant.  Don't be afraid to ask for multi references, licenses, and anything else that will verify their legitimacy. We had our attorney go over the rental contract for vetting, changes and approval.  Except for the problems with the government, we are very happy here.  We are really enjoying our apartment and the local people.

 

(Apartment in Gamboa, Panama, pictured.)

Yes. Portugal is a laic state with religious freedom and tolerance. Although Portugal has a long lasting Catholic tradition, it is one of the best European examples of religious tolerance with successful integration of the minority religions, as there is no track record of any religious conflicts.

 

(Batalha Monastery, Leiria, Portugal, pictured.)

Yes. Portugal is a laic state with religious freedom and tolerance. Although Portugal has a long lasting Catholic tradition, it is one of the best European examples of religious tolerance with successful integration of the minority religions, as there is no track record of any religious conflicts.

 

(Batalha Monastery, Leiria, Portugal, pictured.)