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A report of the International Living’s Annual Global Retirement Index for 2016, published recently in CTV News found that in Panama, a retired American couple can live on the beach and eat farmer’s market fruits and vegetables all year-round, without sacrificing the conveniences and amenities of home for $1,500 a month — all in.
The cost of living is low compared to the quality of life in Panama, which is why the country was named the best place to retire in International Living’s Annual Global Retirement Index for 2016.
Here are the top 10 places to retire according to International Living’s Global Retirement Index 2016:
- Costa Rica
Already home to 50,000 US expats, Panama topped the index after raking in top scores across 10 categories including: buying and renting property, visas and residence, cost of living, environment and amenities, health care, infrastructure, and climate.
The list was compiled after consulting a team of correspondents, editors and retirees around the world.
New this year, voters were also asked to weigh in on two added categories which have emerged as important issues for expat retirees: healthy lifestyle and visas and residence.
Couples interviewed for the index raved about their new life in Panama, where the sweet life is described as not only cheaper, but simpler and stress-free.
Utilities are a fraction of what retirees are used to paying back in the US, clocking in at around $100 a month for electricity, water, internet, cellphone cards, and trash pickup and allowing renters to live happily on $1,500 a month.
That can be slashed by up to half for couples who own their own property.