5 countries around the world you should plan to retire in

ARCO DA RUA AUGUSTA, LISBON, PORTUGAL - 2018/04/24: Rua Augusta, a walking street in central Lisbon, as seen from the top of the Arco da Rua Augusta monument. (Photo by Leisa Tyler/LightRocket via Getty Images)
ARCO DA RUA AUGUSTA, LISBON, PORTUGAL - 2018/04/24: Rua Augusta, a walking street in central Lisbon, as seen from the top of the Arco da Rua Augusta monument. (Photo by Leisa Tyler/LightRocket via Getty Images) /

Even though retirement is starting to feel more and more out of reach for a lot of people, it’s still something most will be hopefully able to take advantage of someday. And planning to retire is a big part of getting to retire.

That doesn’t just mean putting money away for the future, though that is obviously a big part of it. You also have to think about where you’re going to retire. When it comes to retirement, all countries are not created equal so plan accordingly.

Retire in Portugal

Not a lot of people think about Portugal when planning to retire but it’s definitely a good option. This marvelous European country rests between Spain and the Atlantic Ocean with the Mediterranean nearby. The weather there is phenomenal.

On top of that, the people are reputed to be friendly and welcoming, and most people speak English. It’s a lush country with wonderful beaches, laid-back cities, and something for pretty much everyone. Plus, the cost of living is relatively low.

Retire in Colombia

Colombia, Tourism
CARTAGENA, COLOMBIA – APRIL 15: The cupola of Iglesia de San Pedro Claver (the San Pedro Claver Church) is seen enlightened during the twilight on April 15, 2018 in Cartagena, Colombia. After the peace agreement, ending a 52-year civil conflict and political stability in Colombia, Cartagena de Indias, a UNESCO World Heritage, experiences a tourism boom. The historic landmarks from the Spanish colonial times are being restored, private investments are visible in the city and an increased number of local people benefit from the boom of the travel related services. (Photo by Jan Sochor/Getty Images) /

There was a time not that long ago that travelers would not consider setting foot in Columbia. Now, it’s not only a prime tourist destination, it’s high on many people’s lists for places to retire. What a difference a decade or two makes.

That being said, there are considerations to be made as to where you’re going to live. Safety is paramount, of course. But the ever-evolving arts and culture scene combined with some wonderful communities to live in has certainly changed the game.

Retire in Mexico

For residents of the United States, Mexico has long been an incredibly popular travel destination for good reason. But an increasing number of those same people are making the choice to call Mexico home and retire there.

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Like Columbia, you need to be careful about which communities you choose to live in. That being said, there are reputedly some unbelievable places to call home. The hospitality of the locals combined with the cost of living and marvelous weather make Mexico a serious consideration.

Retire in Panama

Panama, Retire
PANAMA – 2010/12/04: A waterfall in the rainforest at the El Chorro Macho Trails in El Valle de Anton near Panama City, Panama. (Photo by Wolfgang Kaehler/LightRocket via Getty Images) /

The climate of Panama varies greatly. Some areas have average temperatures in the 30s while others are far lower than that. Really, you just have to pick what works for you. But there are certainly other benefits for pensioners, as well.

Retirees can get a visa that allows them to call Panama home as well as enjoy many of the same benefits as locals who retire there. Plus, it’s a beautiful country that offers a seemingly endless number of ways to truly enjoy any stage of life.

Retire in Costa Rica

It’s not a surprise that more and more people are choosing to retire in Costa Rica. This is easily one of the most beautiful countries in the world with great cities and stunning beaches along the Pacific Coast. But there’s more to it than that.

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Health care and education are both affordable as is housing. There is a relatively high standard of living in Costa Rica which is reflected in the low cost of living. As always, there are other considerations to make but it is certainly worth exploring.