If retirement is on the horizon for you, and the cost of living in your city seems too unaffordable, perhaps you should consider looking further than the next town over for your ideal retirement spot.
The cost of assisted living communities in North America vary by city, but there are places where retirement living is a fraction of the cost as it is in the United States and Canada.
According to a recent article on InternationalLiving.com, the best place to retire is now Ecuador, and especially the city of Cuenca, near the Pacific coast of the small South American country.
The study ranked each destination based on a variety of criteria, including real estate, crime, cost of living, the cultural atmosphere, climate, and healthcare.
“No matter where you choose to live in Ecuador, there is no better place on earth to discover the simple abundance of health, tranquility, adventure, and beauty,” Patricia Farmer, an American who now lives in Ecuador, told the website.
Farmer said the cost of living for her and her husband in Ecuador were about one-fifth of what it was for them when they lived in California.
The International Living study said Mexico was the second-best retirement location, and some other top choices for retirees are Panama, Spain, and New Zealand.