The hidden side of politics

3 retiree havens where you can stretch your dollar the most

Reported by CNBC: 

As you’re scouting your dream retirement locale abroad, don’t forget to ask about those senior discounts.

This Central American nation won the top spot in International Living’s Annual Global Retirement Index, largely because of the special benefits it offers retirees.

The Panamanian pensionado program offers a 50 percent discount on entertainment costs and reduced rates on airline tickets and hotel stays, as well as lower prices on energy bills.

Though you don’t need to own real estate in Panama in order to qualify, you do need to draw a pension of at least $1,000 each month. If you have a spouse or children under age 18, you’ll need to have an additional $250 per month for each dependent.

American retirees like Mexico because they can easily drop by for up to 180 days at a time on a tourist visa, said Stevens.

“There are a lot of people who go part time,” she said. “It’s close and you can stay for six months without going through any visa rigmarole.”

Once you decide to become a legal resident, however, you become eligible for the same discounts Mexican retirees may access. That includes reduced prices on theater tickets and museums, as well as lower costs on medications.

Retirees hailing from the U.S. can apply for a temporary resident visa in Mexico and maintain it for up to four years.

Retirees can apply for a pensioner visa in order to become residents, but they must show proof of income of at least $800 a month from a stable source, according to International Living.

Residents who are over age 65 can enjoy relatively affordable health care (compared to the U.S.), breaks on certain municipal and utility taxes, and steep discounts on transportation across the country.

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Source:CNBC

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