Here's a piece by CNBC that says .
In the piece they list the "world's best places to retire" from International Living as:
4. Costa Rica
Ok, I see what they mean -- or at least I think I do. I believe they are saying the "world's best places to retire based on cost."
Because otherwise, I'm not sure many people would list these ten as the literal "best" places to retire.
For me, eight of the best ten would be in the Caribbean, one would be in Hawaii, and one in Europe somewhere.
Then again, those places can be pricey. So it comes down to what you mean by "best" with "best" being in the eye of the beholder.
Anyway, here's their main point -- that it's much less expensive to live overseas. Consider this:
"Outside the U.S., the cost of living can be half what it is in the States, especially in regards to health care," Prescher said. (For example, Numbeo.com's latest Cost of Living Index Rate listing ranks Puerto Vallarta, Mexico at 37.12 on its scale, with New York City being 100; Columbus, Ohio coming in at 72.12; and Reno, Nevada, at 61.75.)
I think most people would consider Columbus, Ohio to have a reasonable cost of living. In fact, which means it's almost 16% less expensive than the average U.S. city. So it's very affordable.
And yet, Puerto Vallarta, Mexico is about half the cost of Columbus! So your $500k nest egg in Columbus gets you a $1 million retirement in Puerto Vallarta!
This is literally how you can !
I've seen an example of this on TV. My wife and I were watching House Hunters International and this couple found a home in Ecuador that had 4 bedrooms, 3 bathrooms, roughly 3,000 square feet, and a great view from a bluff over-looking the ocean for $220k! It was unbelievable!
Of course, you have to be willing to move to Ecuador to get it and many people aren't.
But if it could make such a difference in the style of your retirement, isn't it worth at least a consideration?