Getting ready for retirement will mean considering a move to another community, for some. For those who would like to retire early, or for those whose financial status is not where they had hoped it to be, less expense is paramount to the dream. Others might just want more cash to play with. For any of these, here are 3 places to consider.
Panama is gaining more and more publicity as a great place to retire. Panama City, and more so the surrounding areas are especially promoted as such. The temperate climate, beautiful beaches, and low cost of living are quite attractive to retirees. An added benefit is the U.S. dollar as legal tender.
Though Spanish is the primary language, the locals are repeatedly referred to as friendly and helpful to anyone, regardless of what language someone speaks.
As an incentive to retirees, Panama also has what is called the “Pensionado Program”. This gives discounts of anywhere from 10 to 50 percent off of a wide variety of things such as bus and train fares, airline tickets, movie tickets, and much more. This is available to anyone collecting an actual pension of certain types (including social security and disability, among others) of over $500 monthly or $600 for couples, who is over the age of 18, according to MSN Money. Tax incentives are also available, making the whole package quite attractive for anyone looking to retire with little expense.
Tallahassee is a college town, which is often attractive to retirees due to the generally low cost of living and variety of activities available. This college town also happens to be the state capital, which makes transportation and other services readily available. The climate is warm, the culture is diverse, and the cost of living is 6.23% lower than the U.S average, according to Sperling’s Best Places.
This city also offers a variety of retirement communities for many income ranges. Some may find the area attractive for its inland terrain, which differs from that of the Oceanside communities.
San Antonio, Texas
San Antonio, also known for its arid climate and laid back lifestyles, offers a multitude of choices. Although the latest trend is luxury in downtown housing for retirees, according to CNN, there are still abundantly more affordable choices. With an already established retirement community in this sizeable city, the over 50 population is stated to be 322,126 and still growing.
San Antonio offers convenience and variety along with its warm weather. The cost of living here, according to Sperling’s, is a whopping 24.8% lower than the U.S. average, with the median price of a home at $93,530. This, too, is far less than most U.S. cities.