On the other hand, life overseas would be a very different experience residing in a little fishing village or a small colonial city in the mountains where you're the only foreigner in town. Settling among the locals means you must learn to live like a local. Is the thought of that appealing, exciting, and invigorating? Or terrifying? Be honest with yourself as you consider your response. There is no right or wrong reply, and there are pluses and minuses either way. If you decide you like the idea of retiring overseas among like-minded company, here would be nine good places to focus your search... In The Americas Ambergris Caye, Belize: Estimated Expat Population: 2,000+ In many ways, Ambergris is more gringo than Belizean. Few locals live and work on the island; those who do are in the hotel and resort industries. Many businesses on the island are owned and run by the foreigners who have moved there, meaning it's possible on this little island to find imported wines and cheeses and homemade artisan breads. No shortage of flip flops or floral shirts either, and Jimmy Buffett, Janis Joplin, and the Rolling Stones jam from most speakers. City Beaches, Panama: Estimated Expat Population: 2,000+ The most developed, established, and fully appointed beach community in Panama is this "City Beaches" area, less than two hours from Panama City. This fast-growing coastal region offers a high quality beach lifestyle with all amenities and services you could want. Coronado town has developed into a busy commercial center that makes for a turn-key retirement choice, and, indeed, this is the direction this former weekend retreat is evolving...into a full-fledged retirement community with an established population of full-time foreign residents supported by a developed infrastructure, including good medical facilities. Cuenca, Ecuador: Estimated Expat Population: 5,000+ Cuenca's large and growing expat community is one of Latin America's most established and integrated with the local community. Thanks to the big and growing expat community based here now, downtown Cuenca today boasts a large number of cafes, restaurants, bars, and bookshops alongside the traditional butchers, tailors, repair shops, clothing stores, and bakeries. Puerto Vallarta, Mexico: Estimated Expat Population: 40,000+ Until the 1950s, Puerto Vallarta was a small fishing village, modestly popular among Mexicans as a beach resort. In 1963, "The Night of the Iguana" was filmed just south of Puerto Vallarta. The film's star, Richard Burton, was involved with Elizabeth Taylor at the time. She followed him on location...and the paparazzi followed her. Suddenly Puerto Vallarta was all over the news—and on the map, as far as Americans were concerned—and it's remained there since. At about this time, the Mexican government began to invest heavily in infrastructure making Puerto Vallarta more accessible and attractive as a destination. Luxury hotels began to spring up, and Americans began to flock here. It is also one of Mexico's most cosmopolitan beach resorts. Fully half the population works in the tourism business, so English is widely understood, a boon for those of us who speak little or no Spanish. A whole range of services has sprung up to cater to English-speakers, including everything from gourmet shops and restaurants to clothes design and medical care. In Europe Algarve, Portugal: Estimated Expat Population: 100,000+ Because it has Europe's best beaches, Europe's best golf courses, one of Europe's friendliest folk, Portugal's Algarve is the chosen retirement destination for more than 100,000 resident expatriates from around the world. You could join the many expats who gather for tennis at the Carvoeiro tennis club. Carvoeiro also has a well-stocked book exchange that allows expatriate residents and visitors alike to trade in books they have read for new titles. Many retired expatriates become involved in local community or charity work, there is no shortage of opportunities to contribute to society and make a real impact that will also help you integrate faster into local culture. Making friends is easy, both with the locals and the expatriates. Barcelona, Spain: Estimated Expat Population: 35,000+ The expat community in Barcelona is huge and thriving, and almost every nationality in the world is represented. Some are here employed by multinationals like HP or self-employed with their own small businesses. Others are running local businesses like bars, playgroups, and real estate companies. Meeting expats and making friends is easy. A good way to connect with the English-speaking community is through the Metropolitan Magazine (print and online), which lists places and events where expats are likely to meet. In Asia Chiang Mai, Thailand: Estimated Expat Population: 20,000+ Chiang Mai has been luring expats from the West for years. The attraction is twofold—the low cost of living (and of housing) and the weather. The high-quality health care and health-related services are other big pluses for foreign retirees in this part of the world. The city boasts modern infrastructure and an abundance of Western amenities. Dumaguete, Phillipines: Estimated Expat Population: 5,000+ There are many good reasons to consider retiring in Dumaguete. The city is protected against most of the typhoons that periodically batter many of the Philippines. The weather is tropical and balmy—rarely too hot. Dumaguete offers excellent medical care, too, care that has been getting even better since the city was named one of the five top retirement destinations in the Philippines. George Town, Malaysia: Estimated Expat Population: 40,000+ George Town is home to a wide range of expat groups, so it's easy to make new friends. For example, the International Women's Association has a very active social life. Hill-trekking, yoga, and tennis...a photography club...golf, bridge, and canasta...a choir, a book club, and bowling. And a Hash Club isn't what you might think. If you're male, enjoy running, and want to follow a paper chase that ends with cold beers, could be your thing. Many expats work here, which adds to the cosmopolitan buzz. Kathleen Peddicord P.S. Over the three days of last week's once-a-year Retire Overseas Conference, we looked at every topic and question of concern and importance for the would-be retiree overseas. If you weren't able to join the more than 400 in attendance, don't worry. We recorded every one of the nearly 60 presentations. These audio recordings are being edited now to create our 2014 Retire Overseas Home Conference Kit. Go here now to order your copy, pre-release, at a 65% discount.
"As we made our plan for where to go," Lee remembers, "the reality of what we were doing began to settle in. I was only 49 years old, for crying out loud. What if we ran out of money? I began to worry about being back in the States at age 75 looking for work." Lee spent a lot of time running the numbers and, finally, he and Julie found the courage to make the leap. "We satisfied ourselves," Lee explains, "that, in Cuenca, Ecuador, the city we'd focused on, my pension would allow us to live very comfortably." Lee and Julie were pioneers. Two of the original Cuenca retirees, in 2001 they received Visa 1 and Visa 2 from the New York consulate when they applied for legal Ecuadorean residency. "We lived in Cuenca for nine months before meeting another English-speaking couple," Lee says. "We didn't mind. We were having so much fun taking advantage of all we discovered that Cuenca had to offer. This is a very cultural city, with free symphony events, museums, and annual art shows. "The best news, though, during those early months," Lee continues, "was the realization I had that the cost of living was even lower than I'd estimated. Cuenca enjoys great mountain weather year-round. This means no heat and no air conditioning. I had underestimated the effect of the climate on our overall budget." The cost of living in Cuenca has increased steadily in the dozen years since Lee and Julie first took up residence. Still, this remains one of the most affordable options in the Americas. You can rent an apartment for as little as US$300 per month. More typical is US$500 monthly. Figure a total budget of US$1,200. And you may, indeed, decide to invest in a place of your own. The cost of real estate in this city is one of the greatest bargains in all of Latin America, cheaper than in Montevideo, Uruguay; Medellin, Colombia; Fortaleza, Brazil; Panama City; or most any other Central or South American destination you might consider. You could buy a small city condo for less than US$50,000. Gas, too, is cheap, and Ecuador is a great place for exploring by car. Lee says that he invested in a car soon after making the move, because he and Julie so enjoyed motoring around the country. He advises figuring an additional US$150 per month if you own a car. One thing to remember about Ecuador is that this country uses the U.S. dollar. For an American retiree, this means it's easier to understand what things really cost; it's easier to keep track of what you're really spending, month to month; and, very important, you don't have any currency-exchange risk. You may still have local inflation to contend with, but you won't have to worry about that being compounded when the exchange rate goes against you. Given his extended personal experience living and investing in this country, we're delighted that Lee has agreed to act as host for our upcoming Live and Invest in Ecuador Conference taking place in Quito next month. The Early Bird Discount for this event remains in effect today and tomorrow only. You have until midnight Friday to save up to US$250 when you register. Details on the program we've put together with Lee's help are here. Kathleen Peddicord P.S. Cuenca, Ecuador, home to a big and fast-growing expat community, qualifies as one of the world's top retirement havens and perhaps the best place in the Americas to live well and comfortably on even a very small budget. In this colonial city recently, I filmed a brief video to give you an idea what Cuenca has to offer. Take a look.
Since moving to Cuenca in 2011, Daniel and Sally Ellis have worked part-time, via the Internet, for their old law firm back in New Jersey, advising their former partners in product liability cases. In addition, Sally has continued her sideline art career and has had several exhibitions of her work in local galleries. Daniel says he finally has time to catch up on his reading. Jan and Tom Jeffers divide their time between Cuenca and Fort Lauderdale. Jan says it's important to spend time with the grandchildren, but she also enjoys the expat lifestyle. "It's great that Florida is only four hours away," Jan says, "but we also enjoy our friends in Cuenca and all the cultural activities here." Ralph Winston, who provides computer and Internet services to Cuenca expats, says he is finally able to pursue a lifelong interest in creative writing. Ralph has joined an expat writing group and says he's halfway through his first book. "Who would have thought that, at 60, I would be writing my first novel?" David Morrill Editor's Note: Meet David Morrill and many other of our Ecuador expat friends at this year's Live and Invest in Ecuador Conference taking place in Quito Sept. 17–19. The Early Bird Discount for this event expires this Friday at midnight. That is, you have two more days to save up to US$250 when you register. Do that here now. Or reach our conference team with your questions, toll-free from the United States, at 1-888-627-8834...or, internationally, at +1-443-599-1221.
June 12, 2014
"Kathleen, I'm 56 years old and one of your new '52 Days' students and a very tired vet. "That is, I'm a retired disabled veteran, and I am longing to move to Belize. I've bothered family and friends with this notion for a couple of years now. They mostly approve. Mostly they love me to pieces and want me to be happy and safe. I so want to prove to them and myself that this can be done. "Therefore I am taking my 52 steps quite seriously. Because I'm a disabled veteran, I am assigned a Social Security Finance-Payee person. She's fantastic and is 100% encouraging me to do this. "It seems this may be really possible? Could this be really possible?" --Anita K., United States Yes, it's really possible. Follow along with the 52 Days program and let us know if we can do anything more to help.
June 9, 2014
"Ms. Peddicord, I would first like to thank you for all of the information regarding overseas retirement options. You have opened my mind to the possibilities outside of the USA. I am a 63-year-old single woman and only have a retirement income of US$1,500/month. I would like to find a place where I could exist comfortably on that. I have a very adventurous spirit but also wish to be cautious as I would be venturing out alone. "Are there any places that stand out as best options for someone such as me? Any advice would be truly appreciated." --Debbie B., United States Indeed. On that monthly income you have several good choices, depending what kind of lifestyle you're in the market for, including:
This is the kind of thinking we'll do during this year's Retire Overseas Conference taking place in Nashville, Tennessee, August 29–31. Ecuador, Nicaragua, Panama, Thailand, Vietnam, and Philippines are all on the featured haven list for this special event...along with 15 other countries. Details are here.
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Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.
Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
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