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When people consider retiring, some consider moving outside the Canada to more exotic locations. Some of these exotic locations offer people better benefits, including lowering their cost of living, a relaxed lifestyle and a warm and sunny climate. It is always best to consider the language of the location, the lifestyle, ease of relocation, climate, political unrest, health care costs and cost of living before you make a final decision.
Due to the sunny climate, the proximity to Canada, the lack of language barriers and cultural differences and just because it is not that different Florida is still the most popular retirement spot for Canadians. However there are some other great places to consider if you are adventurous and want to retire in an exotic location.
Sources reveal that you can live in Ecuador for as little as $800 a month. Like living in Panama, Ecuador has properly established expat communities and many discounts are found here. If you are worried about speaking Spanish, do not worry. English is heavily spoken throughout Ecuador. Belize also often gets looked at for retirement locations because English is the official language.
This is not about living in Paris or Provence, but stepping outside the major cities to find a much more affordable cost of living. The Languedoc-Roussillon in the Southwest is highly recommended. Here you will find the Mediterranean seashore, medieval towns, vineyards, the Roman ruins, castles and green, rocky hills. There is easy access to the train service in Montpellier, so you can take a quick and inexpensive visit to Paris for a long weekend. The cost of living is a little higher than some of the other destinations, the AARP estimates $30,000 a year, but it does have the best health care facilities in the world.
When you think of retiring, do you think of touring local wineries and eating some of the best cuisine in the world? Just like France, you probably can not significantly reduce your cost of living in the bigger cities and the popular touristy areas of Tuscany and Umbria. But in less touristy areas like the region of Le Marche you can live a comfortable life for under $20,000 a year. Of course, the artistic offerings are a bit more modest than what they are in Rome or Florence, but they do have their fair share of architecture and art.
Rest of Europe
Other top exotic European spots are Portugal and Spain. Due to Spain's economic crisis there are hundreds of unsold houses in the costal provinces of Spain. This is the reason that many homes are selling for up to 70% less than they were at their peak in 2008. Still the rule of "location, location, location" still applies when buying a home. It is a good time to buy at the moment as long as the location of the property is good.
While the cost of living has been steadily rising in Eastern Europe there are still some nice and affordable retirement destinations in Croatia, Hungary and Estonia.
It is a long way away from home, but Thailand offers a great chance to embrace a different culture and some great eateries. A budget of $1,000 a month should easily cover meals, health care, good housing, entertainment and more. Most of the country is now peaceful and beautiful. If the fast-pace of Bangkok is not your style, Chiang Man is an alternative that is budget friendly. Hua Hin is one of the traditional retirement locations with plenty of golf courses and outlet malls. If you do not want any culture shocks, you might want to start here. In Thailand it will be difficult to break the language barrier. You will probably find a few Thai who speak a little English but their comprehension of what you say to them is often the problem. Some of the other Asian destinations to consider are Indonesia, the Philippines and Bali.