5 Best Places to Retire Around the World

2. Panama

Insider Monkey Score: 5.3

One of the best places to retire around the world is Panama. While an affordable cost of living is the primary driver for retirees towards this country, it is also revered for its tropical climate, well-developed healthcare system, and modern infrastructure. The biodiverse paradise is home to a plethora of lush forests, pristine beaches, and similar outdoor spaces, providing retirees with endless opportunities for recreation. Popular retirement destinations include Boquete, Coronado, and El Valle. The cost of living in Panama for a single person, on average, is $1,112. Similar to other expats, retirees may also find it hard to resist hiring a maid, costing as little as $250 a month. With more time at their disposal, retirees can explore Panama in its entirety.