Warren Buffet said: “Price is what you pay. Value is what you get.” When it comes to retirement overseas today, you can get good value, indeed—and at prices so low, you’ll think you misunderstood when you hear them.
Even in the most popular and long-established retirement havens—places like San Miguel de Allende, Mexico or Costa Rica’s Central Valley—though hardly the cheapest places on our beat, you’ll find it easy to enjoy a top-notch life, for a lot less than you’d pay in the U.S.
But it’s in up-and-coming locales—the ones not yet overrun by expats—that you’ll find your dollars really stretch. And it’s those places we point you to in this issue.
For starters, we sent our correspondents on the hunt for low-cost, great-value real estate in Latin America’s up-and-coming, under-the-radar towns, and they delivered. Pacific Ocean-view condos for $169,950…a five-bedroom colonial home for $83,000…a three-bedroom condo for $118,000 in one of the world’s most famous coffee regions. These are all in spots worthy of becoming the next big expat haven, but which haven’t hit the mainstream—yet.
Farther afield, in English-speaking Sri Lanka is slowly being discovered by expats, and IL Roving Correspondent Sharyn Nilsen explains why. “Sri Lanka offers clean, sandy beaches, and clear blue water. Plus costs are very low,” she says. A couple can live well here on under $1,400 a month and “that includes eating out every day with enough left over for exploring.” Read her full report here.
Over in Europe, Gene and Jan McCall fell in love with the Le Marche region of Italy (a place The New York Times called “Italy’s best kept secret”) and have made it their part-time retirement home. Living in their town house that’s part of a 14-century castle, they enjoy the fresh, local food (“mains at a good restaurant cost around $10”), the good quality healthcare, and the ease of travel—and all of it on a modest budget.
No matter how much money you have to spend in your retirement, you’ll get much better value for it overseas. From his home just outside Medellin, Colombia, Robert Venhuizen sums it up: “I’m living a lifestyle I couldn’t come close to in the U.S. I have enough money to do what I want.”
I was a shy, small-town, country girl who grew up on a dairy farm in Ontario, Canada, and now I’ve traveled to over 63 countries and to all seven continents,” says Nancy Payne. “I’d originally thought I wouldn’t be able to do that, as I’m not rich or famous, and then I realized if it’s what I love, then the universe will truly provide.”
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Sitting on a stool at the well-worn full liquor bar and sipping Blue Rose Pale Ale, crisp and dry, with mild notes of rose hips and blackcurrant, I watch as locals—some carrying musical instruments—trickle into Brick’s pub and take familiar seats in a corner. More musicians and seasoned travelers arrive. Adrienne, the publican, greets them all like family. Candles are lit on tables and window sills. A wood fire crackles in the brick hearth and taps flow with fresh brews, and everyone’s spirits lift as music fills the pub.
For ancient peoples, the Mediterranean and the land around it was the extent of the known world. The Phoenicians dominated trade for centuries. The Greeks colonized it extensively. The Romans called it Mare Nostrum (Our Sea) when their empire encircled it.
Moving to Mexico brought home to me how easy it is, really, to move from place to place, especially if you’re retired or have a portable career. In the U.S., tied down with a job, a kind of inertia sets in…horizons contract. Move abroad, and they do the opposite.
Get in early on the newest emerging markets in Costa Rica by taking advantage of our experts’ extensive experience. Learn what it takes to start up a business. Not from a book, but from expats who have done it themselves…and done it well. Know what documents you need to qualify for residence and Costa Rica’s healthcare system… and where to bank, the best place to buy insurance, buy a car, and more. Learn how to finance your purchase in Costa Rica, whether from a bank or from your own IRA. Experts will be on hand to show you how.