If you’re leaving the U.S. in search of a retirement paradise, be sure to look south.
That’s because the top retirement haven for globe-trotting retirees is Panama, according to a new report from International Living.
Using its Annual Global Retirement Index and evaluating countries based on 13 categories, including the cost of living, retiree benefits and more, the travel website ranked its top destinations for retirees.
“There are three or four perennial favorites in the top, including Mexico and Panama,” said Dan Prescher, senior editor at International Living.
“These places are just so logistically easy to get to, and they have established expat communities, so they’re easy to settle into,” he said.
Just be sure that you give your financial planner and accountant a ring before you board the plane. You should know how a move overseas could affect your taxes.
You should also be prepared to navigate the health-care system in the country you choose.
“Realize that the health care will be more available, affordable and personal than health care in the U.S.,” said Prescher, who has lived in four Latin American countries. “But you may have to negotiate bureaucracy and you may have to learn the language.”
Here are the top 5 locations to consider if you’re retiring in 2019, according to International Living.
Mexico # 3
The travel website estimates that a retired couple can live comfortably on about $2,500 a month — and still enjoy dinners out and entertainment.
Health care is also affordable, with office visits running from $30 to $43, International Living found.
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