Are you one of the millions of Americans who dream of retiring abroad but wonder if you can afford to? You've raised your kids to adulthood, worked your jobs, and settled debts. Other parts of the world offer new and exciting places, different cultures, and maybe a lower cost of living. But is retiring abroad on a pension possible without lowering your standard of living?

Is it Affordable?

Bruce Springsteen once said, "Sooner or later, it all comes down to money". Never was a truer word spoken (or sung). You can plan to move somewhere new with spectacular scenery and an amazing culture, but plans are only wishes if you can't fund them. Fortunately, there are plenty of places around the world where Americans can live in relative comfort on their pensions. This is because the U.S. dollar is stronger than almost every other currency, so purchasing in places with weaker currencies means you get more for your money than you would do at home.

The Best Places to Retire

Panama, Costa Rica, and Ecuador regularly top lists of great retirement locations in the Americas. The cost of living is very low and they offer U.S. retirees various enticements, such as Panama's Pensionado Visa, which reduces costs for some medical services, public transportation, and utilities. Portugal often wins the top retirement destination in Europe and the world. It has a very low cost of living by European standards, an outstanding and inexpensive state healthcare system, and there's visa-free travel within the Schengen area. Thailand is a popular Asian destination because of its affordability and vibrant culture, as is The Philippines.