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Friday, 13 January 2017

The best country to retire in, if you want to spend your retirement years abroad

Yes, there are people out there who spend their days figuring out the best place to retire: In their Annual Global Retirement Index, the experts and International Living (IL) have determined that Mexico is this year’s top choice for retirement destinations, edging out Panama and Ecuador by one-tenth of a percentage point, Richard Eisenberg writes for Business Insider. If you’re looking into retiring abroad, you should note that IL’s rankings are tailored towards US retirees: Out of their top 10, six destinations are “nearby” — this is an American publication, so that’s Latin America — while three are in Europe and just one, Malaysia, is in Asia. IL also encourages individuals looking into moving abroad upon retirement to study the options really, really thoroughly and perhaps spend enough time in the prospective destination to deal with real-life things like setting up Internet access or a bank account, and see how much it fits your personal needs, rather than relying on somebody else’s ranking system. The relative strength of the currency is also an important factor to take note of: “‘The big news for U.S. citizens in the past year regarding retiring around the world was the strength of the [USD]. It has made living in some countries, especially Latin America, incredibly cost effective,’ said [International Living senior editor Dan] Prescher. ‘The exchange rate was outrageous in our favor. The Mexican peso today is 20 to 1 against the [USD], which has made Mexico an incredible deal.” By that same logic, Egypt is an incredible deal too, so what gives, IL?

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