Tags: ecuador | worlds | best | place | retire

Ecuador World's Best Place to Retire and Get Bang for Your Buck

By    |   Friday, 02 Jan 2015 03:04 PM

Ecuador topped the list of the world's best places to retire in 2015, edging out last year’s No. 1 country, Panama, which dropped to the second spot in the Annual Global Retirement Index done by International Living.

The list takes a look at the elements that make a country ideal for retirement, including climate, healthcare, cost of living, and other issues that feed into a “best bang-for-your-buck retirement destinations.”

Dan Prescher, an IL correspondent, lives with his wife in Cotacachi, Ecuador, and he told Forbes that retiree living there is about half the cost of what it would be in America.

“You can still buy an oceanfront two-bedroom condo for under $100,000,” Prescher told Forbes. “Although prices are going up because a lot more expats and retirees are moving to Ecuador.”

His wife, Suzan Haskins, told Forbes, “When we first moved to our little town, there were about 20 of us expats. Now the number is in the hundreds.”

“You can get a lot more here for your dollar than you could in the U.S. or Canada,” agreed IL’s Ecuador Highlands Correspondent Wendy DeChambeau. “A doctor’s visit will set you back around $10, while a main course in a restaurant can be had for as little as $2.50. The bus trip from Cotacachi to Otavalo will cost you 25 cents. For big-ticket items like real estate, you can get a lot more for your dollar here than in the U.S. A couple can live well here on $1,400 a month, including rent.”

The second-place Panama is a country that works hard to attract retirees, including a Pensionado visa.

“Panama wants you to come — and their policies court you,” Jessica Ramesch, IL’s Panama Editor, said. “The Pensionado visa is available to anyone with a lifetime pension of over $1,000 a month. Discounts you can get with the visa include 20% off medical services, 50% off entertainment, 25% off restaurant meals, 25% off airfare, and 25% off electricity and phone bills.”

IL said a couple can live in Panama for under $2,000 a month.

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Ecuador topped the list of the world's best places to retire in 2015, edging out last year's No. 1 country, Panama, which dropped to the second spot in the Annual Global Retirement Index done by International Living.
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Friday, 02 Jan 2015 03:04 PM
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