Affordable Retirement Living in the Caribbean

Affordable Retirement Living in the Caribbean

As many North Americans and Europeans journey extensively and go to many areas of the globe, it is not surprising that a large number of retirees are choosing the Caribbean to retire. The Caribbean holds a lot of beautiful and low-cost options for individuals retiring on a set budget from Panama to Belize, and Nicaragua to Dominican Republic.

A lot of retirees prefer to retire in Panama because of its unbelievable beaches and tropical clime. At one time called the fourth best situation for retirees by the American Association of Retired Persons (AARP), the state uses the U.S. buck, is really low-priced, well developed and secure. It’s capital, Panama City, is one of the most modernistic and cosmopolitan Caribbean cities including a skyline similar to Miami. The administration provides incentives for retired persons desiring to retire in that location including import duty exemptions, fees for building materials and equipment; and income, real estate and other taxes. The price of food and property is cheap and a live in maidservant can be as low as $300 per month.

Costa Rica has white sand beaches, mountains, rain forests and a diverse population including citizenry from all over the planet. The area is secure and uses the Colon for its money and the conversion rate is favourable for those with U.S. dollars hence allowing retirees to maximise their resources. Although Spanish is the primary language, English is widely used and well understood. Retirees may use the government Health Scheme and expend just $50 for insurance coverage and prescriptions each month. Non public health insurance, on the other hand may cost $200 per month.

Many working people look ahead to retirement, and many envisage a comfy life style in a beautiful place in their golden days. But including living expenses being as pricey as they are nowadays, comparatively few folks can afford to retire ahead of time, and even fewer can afford to retire in a tropical heaven comparable Hawaii or Fiji. But there is all the same a large number of retirement countries that offer up a high caliber life-style to retirees on a budget.

When comparing retiring in Panama to retiring in Costa Rica and Belize, foremost estimate out how much it will cost to lease a home or condo in each locale. Then, think about your life style: will you retire like a native, or like a holidaymaker on a luxury holiday? This will impact your budget differently in each land. It’s also all important to ascertain which of these three countries is the safest, and which will care for you for the least sum of money if you become sick.

Evaluate the overall price of retiring in the three countries. In Costa Rica, as stated on the Net site Costa Rica .com, a North American traveller may retire easily for $1500 or lower monthly. The internet site Your Panama .com estimates that an American can retire in Panama for around $2000 monthly. Caribbean Property Magazine estimates that the median price of retiring in Belize in 2007 was $1000 a month for a couple, making Belize the cheapest locale of the three in which to retire.