3 retiree havens where you can stretch your dollar the most

Personal Finance

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Star fish beach in Bocas Del Toro, Panama

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

Retiree discount programs are available, for example, in a number of Central and South American countries. These programs offer senior citizens a range of perks, including affordable health care, reduced costs on travel and lower taxes.

There’s a catch of course: Countries that offer these senior programs have requirements that applicants must meet in order to qualify.

Generally, this means you may have to be a property owner or legal resident of that country (as opposed to just a part-time visitor) with a minimum level of income from a stable source — via a pension, for instance.

“Every country is going to be different, but in macro, countries want you to show that you won’t be dependent on their largesse,” said Jennifer Stevens, executive editor of International Living.

“Be aware of these requirements before you buy your ticket and head out, or you may find that you’ll have to come back,” she said.

You should also hire a lawyer who is familiar with the visa and residency requirements of your destination country, Stevens said.

Here are the locales with the best senior discount programs, according to an analysis by International Living.

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