Yahoo Finance 7 Easy and Financially Stable Places To Retire Abroad as a Snowbird
Americans have a long tradition of fleeing cold weather for warmer climates in retirement, but it usually involves relocating to Florida or Arizona. Things have changed in that regard. As more Americans retire overseas, many are now eyeing sunny spots in the Caribbean, Latin America, southwestern Europe and elsewhere.
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Snowbirds who want to move abroad need to think about a lot more than the weather. In addition to the usual factors such as affordability, safety and healthcare, you need to consider a country’s financial and political stability, friendliness to expats and ease of establishing residency. And unless you speak the native language, you’ll also need to consider how well you can get by with English.
If you are a snowbird looking to retire abroad, here are seven relatively easy, stable and expat-friendly places. All descriptions are from International Living unless otherwise noted.
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Algarve, Portugal
Located in southern Portugal, the Algarve is a popular tourist destination famous for its beaches, striking cliffs, golf courses and fresh seafood. International Living calls it “expat-friendly,” and retirees can get by with English due to generations of British influence. You’ll find plenty of sunshine here, even during the rainy seasons, and “a couple can live well on a monthly budget of $2,000 to $2,400.”
Coronado, Panama
Coronado is located on Panama’s Pacific coast, about an hour east of Panama City. It is home to one of Panama’s “biggest, most active expat communities,” including large populations of Americans and Canadians. The city serves as a hub for surrounding beach and mountain communities, which has led to a rise in shopping and dining options. Temperatures are warm without being overbearingly hot and typically stay below 90 degrees. Depending on your lifestyle, you can live comfortably in Coronado for as little as $1,750 a month.
Huanchaco, Peru
Huanchaco is a surfing and fishing village located about 20 minutes from the city of Trujillo, Peru and within 10 minutes of beaches. If you’re a seafood lover, the town is famous for its ceviche. With temperatures in the low to mid 70s and almost no rain, International Living says Huanchaco is the “perfect place to relax, eat wonderful, healthy food and enjoy the beach and its beautiful sunsets every day of the year.” A retired couple could easily afford to live here with a budget of $2,000.
Penang Island, Malaysia
Malaysia is a low-cost retirement destination with a tropical climate, “rich culture, wonderful food and beautiful scenery,” according to George Lagonakis, a travel blogger at WorldTripVibe, in an interview with U.S. News. The biggest expat communities are on Penang Island and in the capital city of Kuala Lumpur. You’ll find a relaxing lifestyle on Panang Island, which is known for its boating, fishing, swimming and beach activities.
Placencia, Belize
If you want a postcard-perfect beach town, Placencia fits the bill. You’ll find “jauntily colored wooden Caribbean homes, beach bars and coffee shops,” as well as shops selling wood carvings and Mayan souvenirs. The weather is pleasant year-round, and a retired couple can live comfortably in Placencia for about $2,500 a month.
Puerto Vallarta, Mexico
Located on Banderas Bay along Mexico’s central Pacific coast, with the Sierra Madre Mountains as its backdrop, Puerto Vallarta residents enjoy balmy temps ranging from the mid 60s into the 80s. International Living gives Puerto Vallarta high marks for its “top-notch medical care,” international airport and colonial charm. A typical retired couple can live comfortably for less than $3,000 a month.
Tamarindo, Costa Rica
Tamarindo is a beach town on Costa Rica’s north Pacific coast with “more than two miles of golden sand” that feature plenty of beach bars and restaurants. The town itself is known for its “chic boutiques,” spas and restaurants. Rain is rare outside of the seasonal rains that end in November, and the weather is warm year-round. A retired couple can get by on about $2,500 a month. You’ll also find “high-quality but low-cost” healthcare as well as “established expat communities and welcoming locals.”
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