The best place in the world to reti
The best place in the world to retire is someplace you really want to be. Will your retirement destination give you what you want? And what is it, that you really want?
Do you have a retirement destination in mind? Can you imagine yourself spending years and perhaps decades there?
If you simply wish to escape from things you don’t like (high taxes, over-regulation, cold weather, etc.) then any place that has lower taxes, little or no regulation and warm weather, might work for you. But getting away from things you don’t like alone isn’t enough to have a happy retirement. You also have to get things that are important to you, beyond merely safety, great infrastructure, internet access, etc. Are you planning a retirement within easy walking distance of a hammock and a beer cooler? Or do you wish to be active in retirement and want lots of things to do like hiking, riding, white water rafting, deep sea fishing, etc?
There are many places in the world where you can retire at reasonable cost. The question is whether you will be happy there. And that is a matter not so much of where you go but what your tolerance is for change. If you want to live in a place that is ‘just like home’ your choices are dramatically reduced But if you want to live just as you have been in your working years, why do you want to leave home and travel to another country?
I like Panama as a retirement destination because it has things that are important to me: English is widely spoken, the economy is booming, the currency used is the American dollar, there are lots of North American and other English-speaking ex-pats to interact with if I wish, and the locals are friendly and welcoming. But there are also things that are frustrating for escapees from any go-go society. Everything takes longer to get done. Having anyone show up to an appointment on time is always a welcome surprise. On the other hand, prices are relatively low, there is a lot to do, and life slows down enough so that you can actually take the time to enjoy everything you do.
I like change. I like adventure. If you do too, then Panama might be a good retirement choice for you.