Panama

Panama’s Pensionado Program is one of the best retiree programs in the world, making it an excellent choice for retirees. It offers discounts on everything from healthcare to entertainment for those who qualify and requires a minimum lifetime income of just $1,000 per month. With modern infrastructure, use of the U.S. dollar and world-class healthcare, Panama’s beach towns, mountain retreats, and vibrant capital city are perfect for those seeking a high quality of life. A couple can live comfortably in Panama on between $2,000 to $4,000 a month, depending on the city and lifestyle, including rent, groceries, and entertainment.

Uruguay

Uruguay, known for its political stability and excellent social services, is a peaceful destination for expats. The “Switzerland of South America” boasts a high standard of living, a strong democracy, and a reliable healthcare system. With cities like Montevideo and Punta del Este, Uruguay offers a European flair in a Latin American setting. A couple can live well on between $2,500 and $3,500 per month, and the country’s flexible residency program makes it easy to settle in. Expats can apply for residency with proof of monthly income as low as $1,500. After permanent residency is granted, there’s no requirement to live in the country full-time, and Uruguay offers citizenship after just three years for married couples.