15 May 2017
Revealed: The best places in the world to retire...
Mexico has beaten Spain and Portugal to be named the top place to retire in 2017.
International Living has ranked the best retirement destinations in the world for more than a quarter of a century.
For the past 14 years, Mexico has consistently been in the top 10. And - for the fifth time - it has taken the top spot.
The index rankings are based on subjects such as cost of living, retiree benefits, climate and healthcare.
Exotic foreign culture
Mexico scored 90.9 points, ahead of Panama on 90.8 and Ecuador on 90.7.
International Living says Mexico offers an appealing balance of exotic foreign culture and familiar first-world lifestyle.
It adds that, over recent years, crime and insecurity have made headlines, and there are parts of Mexico it doesn't recommend.
One of the main attractions of the country is the low cost of living, with expats report living well for as little as 1,200 US dollars (less than £1,000) a month.
Runner-up Panama is said to attract retirees due to its ease of living.
Welcoming
International Living says newcomers need not fear that they won’t fit in or be welcomed. Panamanians are accustomed to and welcoming of foreigners
Third-placed Ecuador has been around the top of the retirement table for a long time.
International Living says that, for anyone who has excellent weather at the top of their list of personal requirements for a retirement destination, Ecuador can’t be beaten. Thanks to its mountainous terrain and its position directly on the equator, you can choose almost any climate you like simply by moving up or down in altitude.
And healthcare in Ecuador’s major cities is said to be the equal to anything available, anywhere, and at amazingly low prices. Ecuador also comes out on top for its affordability and availability of homes to rent or buy.
Spain was the top European place to retire, coming in seventh with 84.8 points, while Ireland was 21st with 77.9.
Here are International Living's top 10 best places to retire:
- Mexico
- Panama
- Ecuador
- Costa Rica
- Colombia
- Malaysia
- Spain
- Nicaragua
- Portugal
- Malta
Retirement planning
Retirement may seem a long way off, but are you saving enough now for a comfortable retirement in the future?
With the state pension and some private pensions falling short in terms of what they provide in retirement, can you rely on these alone to provide sufficient income?
It can be hard to plan for tomorrow when we’re busy living for today, but if you begin planning and saving now you’ll have more options in the future.
Our independent financial advisers can help you devise the correct investment and saving strategy to allow you to enjoy the lifestyle you want when you retire.