Retirement is often a time when people find somewhere new to live. But don’t limit yourself to staying in the U.S.
There are some excellent options outside the country, and many have a cheaper cost of living that can help you get ahead financially.
Check out these cities throughout Central America if you are willing to consider becoming an expatriate when you retire.
Eliminate your late tax debt
Each year, the IRS forgives millions in unpaid taxes. If you have more than $10,000 in tax debt, or have 3+ years of unfiled taxes, you could get forgiveness too. You might be eligible to lower the amount you owe, or eliminate your tax debt completely.
Easy Tax Relief could help you lower or get out of your tax debt for good. They’re well respected in the industry and have been recognized for their ethical standards when dealing with tax debt. While most tax companies just put you on a payment plan and file your taxes for you, Easy Tax Relief talks to the IRS directly. They can help you pay off your tax debt faster while potentially reducing what you owe.
Important: Not everyone will qualify. To take advantage of this special program you must owe more than $10,000 in past-due taxes.
Fill out this form to get started
Coronado, Panama
![nueva gorgona fishing bay from balcony](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/nueva-gorgona-fishing-bay-from-balcony.jpeg)
Coronado features plenty of pristine beaches and a lower cost of living that can help you keep more money in the bank. The city also has good medical facilities.
Panama is also becoming better known as a retirement destination due to factors such as its friendly tax rules. The country is a tax haven for businesses and uses the U.S. dollar as its currency.
Corozal, Belize
![caye caulker beach during day time](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/beautiful-white-sand-caye-caulker-beach.jpeg)
Corozal is a coastal town on the Caribbean Sea that offers a laid-back lifestyle at an affordable price.
The town is also close to Mayan ruins that you can explore as part of your retirement.
Antigua, Guatemala
![santa catalina arch and agua volcano](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/santa-catalina-arch-and-agua-volcano.jpeg)
Antigua may be a good option if you’re looking for a place with great weather you can enjoy year-round.
The beautiful city is also home to colorful buildings that you can enjoy while strolling the streets. Or, take in lush views of nearby volcanoes.
Earn $200 cash rewards bonus with this incredible card
There's a credit card that's making waves with its amazing bonus and benefits. The Wells Fargo Active Cash® Card(Rates and fees) has no annual fee and you can earn $200 after spending $500 in purchases in the first 3 months.
The Active Cash Card puts cash back into your wallet. Cardholders can earn unlimited 2% cash rewards on purchases — easy! That's one of the best cash rewards options available.
This card also offers an intro APR of 0% for 15 months from account opening on purchases and qualifying balance transfers (then 20.24%, 25.24%, or 29.99% Variable). Which is great for someone who wants a break from high interest rates, while still earning rewards.
The best part? There's no annual fee.
Roatan, Honduras
![paradies küste roatan honduras](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/paradies-kuste-roatan-honduras.jpeg)
Roatan features a vibrant culture and affordable living, making this an excellent option for retirees.
The island off the coast of Honduras is also a great spot for outdoor activities and water sports if you want to live an active lifestyle. Try swimming or snorkeling on the island’s large barrier reef or explore the jungle.
San José, Costa Rica
![san jose costa rica with mountains](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/san-jose-costa-rica-with-mountains.jpeg)
San José is centrally located in Costa Rica and serves as the nation’s capital, so there is plenty to do and see in the city of more than 300,000 people.
The area has plenty of natural beauty to explore, or you can wander the streets and visit museums and wonderful restaurants.
San José is also home to several museums, including the Pre-Columbian Gold Museum and the National Museum of Costa Rica.
Granada, Nicaragua
![granada nicaragua during day time](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/granada-nicaragua-during-day-time.jpeg)
You can tap into a large expatriate community in Granada if you move there. The city’s low cost of living can appeal to retirees on a fixed income.
Granada is also on the shore of Lake Nicaragua, so you can find plenty of water activities to participate in or simply enjoy the beaches along the shoreline.
Tamarindo, Costa Rica
![tamarindo costa rica during day time](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/tamarindo-costa-rica-during-day-time.jpeg)
Tamarindo is another option in Costa Rica. It is located on the Pacific coast.
Enjoy plenty of time in the sun on the beach. You can also participate in water activities such as surfing. Or, go fishing if you want to get a fresh meal from the water.
Placencia, Belize
![palm trees on sandy belize beach](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/palm-trees-on-sandy-belize-beach.jpeg)
Placencia features beautiful beaches along the Caribbean Sea. You will also find a reef to explore. Swim with giant whale sharks, or check out the area’s well-known fishing areas.
Placencia also has a low cost of living, which can make it particularly appealing if you’re living on a fixed budget.
Chitré, Panama
![san blas panama caribbean tropical island](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/san-blas-panama-caribbean-tropical-island.jpeg)
Chitré is near the Gulf of Panama. You'll find plenty of outdoor activities here, including fishing and surfing.
The city can be a great option if you want to retire comfortably. Chitré offers access to affordable health care and a lower cost for everyday items and housing.
The city is growing, with more expats finding it a desirable destination due to its laid-back lifestyle and unique culture.
If you’re over 50, take advantage of massive discounts and financial resources
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
You’ll also get insider info on social security, job listings, caregiving, and retirement planning. And you’ll get access to AARP’s Fraud Watch Network to help you protect your money, as well as tools to help you plan for retirement.
Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.
Bottom line
![senior couple unpacking at new house](https://cdn.financebuzz.com/filters:quality(75)/images/2023/12/06/senior-couple-moving-in-new-house.jpeg)
Central America can be a good option if you are looking for somewhere different to retire. The region’s lower cost of living might especially appeal to those who want to eliminate some money stress if they have a relatively small nest egg.
But before you pack up, create an estimated budget for your expenses so you will know how much you’ll have to save when retiring in Central America.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.