The Best Country for Retirement in the Western Hemisphere (Other Than the U.S.)
Category: International Retirement
July 29, 2019 — There is a small but significant number of Americans who will retire outside the U.S. If you think you might be one of those people, Topretirements suggests you put Costa Rica on your list of possible countries. Located in Central America, it has many advantages and relatively few drawbacks. In this article we will explore retirement in Costa Rica, and why we think it just might be your best place to retire. This is Part 2 in a series, the first was “Costa Rica: Bucket List for Thrills and EcoTourism“.
About 413,000 American expats currently receive Social Security benefits outside of the U.S. The most frequent countries where they live are Canada, Japan, and Mexico. One estimate is that about 50,000 Americans (of all ages) currently live in Costa Rica. Proximity to the U.S. and family ties, often related to prior military service in those countries, are two reasons why some countries have so many retired expats. Americans also retire to a different country for economic reasons, trying to stretch their Social Security benefits and savings. Some move for a better climate or a different lifestyle. A Costa Rica retirement can certainly deliver on cost of living, climate, and lifestyle.
Costa Rica. The country is bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west, and the Caribbean Sea to the east. The weather is very good year round, although there is a rainy season. The beaches are fabulous and the interior is mountainous.
Comments on "The Best Country for Retirement in the Western Hemisphere (Other Than the U.S.)"
Chuck says:
Perhaps this article on Costa Rica is old, but it is the most expensive country in Central America if not Latin America. A new and very confusing tax policy is causing many expats to reconsider, and the financial distress of the government is becoming more apparent. It is beautiful, but petty and white collar crime are on the rise, it takes forever to get a temporary resident visa, the pot holes are better than the roads, and your article gives a one sided impression of Costa Rica. I have been there many times over the last 10 years, but I decided not to retire there, but looking at Panama and Ecuador.
Robert Hutchison says:
Far more than 413,000 us citizens live outside the united states. There is more than 1 million alone living in Mexico. This article has very poor information in it and does not reflect what it is like living outside the United States. Places like Ecuador, Panama, Portugal, Thailand are far better choices than Costa Rica and a lot less costly. As far as safety these countries do not have mass shootings like we have in the states. The person who wrote this article obviously has not lived outside the United States
Editor's note: Thanks Robert for your insights. Would love to hear your perspective and experiences living abroad and why you think some of these other countries would be better for retirement. Everyone is different with different priorities, but we can sure learn from each other. PS - as we mentioned the 413,000 figure is the calculation of how many Americans are receiving Social Security payments outside the U.S. Undoubtedly many others get their payments in U.S. but live abroad, and many others either aren't eligible or are too young. I don't think anyone has a good handle on how many retired expats live abroad. Thanks
Jennifer says:
I would like an updated perspective from those retired and currently living in Mexico. I understand that Lake Chapala, Ajijic, and San Miguel de Allende is very popular, but that there are other locales in Mexico that ex-pats have been drawn to as well.
Many thanks in advance.
Maimi says:
Does the press have it wrong about Mexico? All we hear is that Mexico is so dangerous and poor that migrants can’t be expected to stay or settle there.