Those looking for adventure, a new chapter in life, and ways to save in retirement often look South — way South — and the best places to retire in South America are looking even better these days.
InvestorPlace has taken a look at some of the best locations to retire in the world, and found many are located in Latin America — with the best places to retire in South America often coming at the top of those lists.
Here are some of the best places to retire in South America for those who need a little extra spice in their retirement years (not to mention saving lots of cash!).
#3 Best Places to Retire in South America: Uruguay
Uruguay offers a fantastic climate and the opportunity for retirees to bring their household goods into the country duty-free. The country offers a stable economy with a good banking system. While costs have risen in recent years thanks in part to its sound economy and growing international interest, it’s only beckoned more to its shores.
In addition to low crime, foreign residents are also able to easily open bank accounts and get access to health care (around $50 a month).
Travelers and retirees are flocking to Uruguay in record numbers, and residency applications increased over 300% since 2007. Ex-pats are from all over the world, and many are coming from the United States.
#2 Best Places to Retire in South America: Colombia
But, you may be thinking, what about everything you’ve heard about the country? Think again and try this new view: Colombia is No. 6 on the InternationalLiving.com Global Retirement Index 2014. The country offers beautiful sparkling cities in the highlands and world-famous (and safe) resorts along the Caribbean.
With a low cost of living, inexpensive properties to purchase, and diverse culture, Colombia is not only one of the newest travel destinations, but a great place to call home.
#1 Best Places to Retire in South America: Ecuador
Ecuador tops many Best Of lists for retirement worldwide for a number of reasons (and it comes in at No. 2 on InternationalLiving.com Global Retirement Index 2014): The country offers a spring-like climate and low-cost for retirees, just to begin. Add to that your choice of living options — beautiful beaches, relaxing mountain tows, or even city life.
One of Ecuador’s best locales, Cuenca, is a colonial city with a large and growing expat community. (Rent for a great building often falls under $500 a month.) The city offers an orchestra and many art, theater and dance opportunities that are free — and culturally thrilling.