Retire South of the Border

Warm weather and a low cost of living lure retirees from the U.S.

When Sid and Barb Williams began searching for the perfect place to retire, they never thought they'd wind up living outside the U.S. But in the course of their research, they kept hearing about the benefits of retiring to Panama.

The Central American country not only offers a warmer clime than their former hometown of Cincinnati but also provides a lower cost of living, generous financial incentives for retirees, and a reliable and affordable health-care system. Plus, Panama uses the U.S. dollar, so there's no need to hassle with foreign currency.

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Associate Editor, Kiplinger's Personal Finance