I’ll retire at 62 with $1.2 million — and want an affordable, safe spot near the beach. Where should I retire?
I am 43 years old and plan to retire at 62. As a member of Gen X, I already know that Social Security will most likely not be around for me. I plan to retire on $1.2 million in retirement savings. I’ve already decided it won’t be in the U.S. Where can I live to stretch my retirement dollars? It must have a low cost of living, low health-care costs, low crime and be near a beach. Thank you for your help.
Here are some places that meet most of your criteria, with one caveat: While this is all true today, a lot could change over the next 19 years. Still, I love that you’re planning so far ahead. Bravo!Panama is known as a safe country and ranks in the top 100 in the world for health-care quality and access, with residents saying Panamanian health care is generally affordable.
It’s also pretty affordable: If you don’t live right by the beach, you can get by on under $2,000 a month, with the added bonus of a pensionado visa program that offers a ton of discounts for seniors. One downside is that, because Coronado is a resort town, it can feel hectic at times because of tourism.Malaysia snagged the top spot in International Living’s rankings of international health care and landed on Investopedia’s list of the top 10 cheapest and safest countries to retire in.
Though it’s not right on the beach, it’s just 25 miles from the famed sugar-sand beaches of the Yucatán’s Gulf Coast — and Mérida, which has a population of upward of 800,000, has the added benefit of offering great food, plenty of events to entertain you and a thriving expat community. Dan Prescher, the senior editor at International Living, points out that health care here costs “a fraction of what you’d pay in the U.S.
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