Six most affordable retirement havens

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The cost of quality retirement living options in the United States has risen well beyond the budget of the average would-be retiree. The current meltdown in U.S. housing costs doesn´t change this fact. Most Americans are worried they´ll never be able to afford to chase their retirement dreams. The answer is to think outside the box--the box being the United States. This isn´t a new idea, but it´s truer and truer, as ever-increasing numbers of Americans consider leaving the States in search of a quality retirement lifestyle they can afford.  the gateway to the Americas.

The Six Best Overseas Retirement Havens For 2008-- Where To Retire Well On Less Than $1,500 A Month.

The cost of quality retirement living options in the United States has risen well beyond the budget of the average would-be retiree. The current meltdown in U.S. housing costs doesn´t change this fact. Most Americans are worried they´ll never be able to afford to chase their retirement dreams.

The answer is to think outside the box--the box being the United States. This isn´t a new idea, but it´s truer and truer, as ever-increasing numbers of Americans consider leaving the States in search of a quality retirement lifestyle they can afford.

Once you expand your retirement options to include those outside this country, you realize you can enjoy a rich and satisfying life even on a modest budget.

Specifically, the editors of Live and Invest Overseas have identified six overseas havens where you could retire and live well on $1,500 a month or less:

Panama--Still the World´s Number-one Overseas Retirement Option

Panama caters for foreign retirees like no other country in the world. Day-to-day living is affordable, taxes are low, property prices remain reasonable (even qualifying as cheap outside the capital city), and, best of all, Panama offers one of the world´s most generous retirement incentive programs, including retiree discounts of up to 50% on everything from restaurants, hotels, and in-country airfares to prescription medicines and closing costs on a home loan.

Panama is the best choice if you seeking a place where you´ll enjoy the same comforts you´re accustomed to in the U.S.--plus additional luxuries you´d never be able to afford back home.

As "the gateway to the Americas," Panama´s geographic position makes it an important hub for international business and travel. While other Latin American countries depend heavily on the U.S. economy, this is not the case with Panama, which is showing no signs of slowdown despite the emerging recession in the States.

Panama stands on its own legs, with the fastest-growing economy in the region (expanded by 10% in 2007 and expected to grow by nearly the same rate in 2008) and a thriving international banking industry. The infrastructure in and around Panama City is the best in the region, without question, and being expanded and improved to try to keep pace with current growth. The Panama Canal Expansion Project, which will double the Canal´s capacity, alone could generate enough wealth to transform Panama into a First World country.

Argentina--World´s Best Land Buys

Though no longer the bargain-basement destination it was immediately following the economic crash of 2002, your U.S. dollars stretch a long way in Argentina.

Argentina is also one of the two best places in the world right now to invest in land (the other is Uruguay…see below). From the agriculturally rich pampas to the wineries of the central valleys, land is for sale in Argentina in quantities unheard of in the most of the rest of the world and for as little as $10 an acre.

The province of Mendoza, famous for its vines, is on its way to becoming the Napa Valley of South America. Seventy-percent of Argentina´s wine is produced here, and wine tourism is increasingly important to the local economy. Vineyard property developments are coming online, offering retirees a chance to invest in a new home and a new life as part of a winemaking community.

Some 150 miles south of Mendoza city is San Rafael, surrounded by mountains, lakes, valleys, and breathtaking canyons, and boasting a grand festival to celebrate the annual wine harvest. The rest of the year, San Raphael is a quiet country town that rises from slumber around 10 o´clock each morning then retreats from 1 to 5 each afternoon for siesta. By all accounts, a charming place to spend time. And in the context of the current global investment climate, one of the best places on earth to place capital right now.

What could you buy? A 2,500-square-foot home in San Rafael, with three bedrooms, two bathrooms, and a swimming pool, situated on 5 acres of vineyard, is on the market today for just $100,000.

Uruguay--Rediscover the Good (and Safe) Life of 1950s Small-town America

Once a retreat for wealthy Argentines, Brazilians, Chileans, and Europeans in the know, the secret is out on the charms of little Uruguay. Since the peso crash of 2002, the country--lying between Argentina and Brazil--has become one of the most affordable places you´d want to spend time anywhere on earth. Look beyond Montevideo, Punta del Este, and Colonia, and you´ll find picturesque fishing villages and quiet, undiscovered beaches.

Uruguayans take life easy, and the pace is reminiscent of 1950s small-town America. Traditional values are important, and Sundays are spent with family around the asado (spit roast). 

Perhaps the biggest attraction of Uruguay for the American retiree right now, though, is the cost of living. Prices are as much as 30% to 40% lower than in the States. You can enjoy everything from a steak dinner to a cross-town taxi ride at a fraction the cost in the U.S.

Further, Uruguay offers some of the world´s best beachfront bargains and is one of the two best places right now to buy productive agricultural land.

Dominican Republic--Quintessential Caribbean That Won´t Break the Bank

The Dominican Republic is quintessential Caribbean--warm, turquoise waters...soft, white-sand beaches...swaying coconut palms...small fishing villages...and a slower pace of life. Furthermore, the place where Columbus first set foot in the New World is one of the last spots where the Caribbean way of life remains affordable, mostly because, despite its popularity among European vacationers, the DR remains off the radar of most U.S. travellers and expats.

Along the coast, temperatures hang in the 80s year-round, making it a haven for sun-seekers. Most tourists head for the north, but the best beaches are found in the southeast, particularly along the stretch of coastline from Bávaro to Punta Cana, known as the" Costa de Coco" (Coconut Coast).

Though its beaches are the biggest draw, there´s more to life in the DR. Boasting the highest peak in the Caribbean (Pico Duarte), the rugged landscape presents opportunities for hiking, biking, and white-water rafting. As the first landing point of Columbus and his crew, the country is home to a series of firsts, including the New World´s first hospital, paved road, university, cathedral, church, and monastery.

Croatia--The Mediterranean As It Once Was...at Decidedly Non-Med Prices

Only a decade ago, Croatia was a tough sell. Once the playground of Europe´s rich and famous, the country´s reputation as a primo holiday sunspot was destroyed by its civil war in the early 1990s. Travel companies and property developers worked hard to undo the damage and to convince tourists and investors that Croatia´s sandy beaches, winding ancient hill towns, and myriad islands were as beautiful as ever… and safe once more.

The country-at-war images have been successfully overcome, and, in the last few years, property prices have soared in parts of Croatia, as returning Europeans have snapped up vacation homes in and around historic walled Dubrovnik and on the Dalmatian islands. Come high season, the beaches along the country´s Adriatic coast are swarmed.

Look beyond the tourist trail, however, and you´ll see why Croatia remains our top pick for Continental living. Earmarked for EU accession in 2010, the window for getting in "early" is closing fast.

Malaysia--Your Second Home in Asia?

Since the introduction of the government´s "Malaysia My Second Home" (MM2H) program, this country is finally attracting the foreign retiree interest it deserves.

For the retiree living on a pension, Malaysia is the most appealing country in Asia. It offers major tax advantages; income (including pensions) earned outside the country is not taxed by the Malaysian government. Furthermore, Malaysia imposes no inheritance tax and abolished capital gains tax in 2007. And, unlike in better-known Thailand, where non-Thai ownership of real estate is restricted, it´s easy for foreigners to buy property here.

As a former British colony, Malaysia also has the advantage over Thailand of using the Latin alphabet. English is widely spoken and understood, especially around Kuala Lumpur. And Malaysia´s judicial system is based on English common law, which makes the real estate purchase process straightforward.

Live and Invest Overseas (www.liveandinvestoverseas.com) is dedicated to uncovering the world´s best opportunities for living, retiring, investing, and owning real estate. Publisher Kathleen Peddicord, with more than 22 years experience covering this beat, and her global network of in-country connections are on the move continuously in search of opportunity. Their from-the-scene dispatches, tips, recommendations, discoveries, and insights are delivered every Tuesday to readers of their free e-letter service, the "Overseas Opportunity Letter."