Puerto Vallarta was chosen as one of the best places to retire by Katie Brockman in an article she wrote named The 3 Best Places to Retire Abroad on Less Than $1,500 Per Month for investment website The Motley Fool.
Besides providing the chance to start anew and try something different, retiring abroad offers a host of other benefits including being exposed to a new culture, paying far less for healthcare, and even enjoying a lower cost of living. In fact, according to expatriate resource Expatistan, the U.S. ranks as the 17th most expensive country out of the 106 countries on the list -- and there are dozens of countries that offer a more affordable lifestyle without having to sacrifice quality of life.
Puerto Vallarta, Mexico
If you're looking to retire abroad while staying relatively close to home, Mexico is a fantastic option. You'll need to do some research to make sure you choose the right city as some towns have higher crime rates than others, but one promising choice is the tropical destination of Puerto Vallarta.
The city is a popular tourist destination, so it's also very retiree-friendly with plenty of restaurants, shops, theaters, and, of course, miles of sandy beaches. While housing can be more expensive than other Mexican cities, it's still more affordable compared to many U.S. cities -- the average furnished 900-square-foot apartment in an expensive area of the city costs just under $1,000 per month, according to Expatistan. However, there are less pricey options, and if you choose to move to a less expensive part of town, you could pay just $500 per month for a furnished apartment.
You'll also find quality healthcare in Puerto Vallarta at an affordable price. Once you become a resident of Mexico, you are eligible to participate in the country's public healthcare system. You can also buy private insurance, and while costs vary widely depending on the city and hospital, it's usually more affordable than U.S. plans.
Source: The Motley Fool