Foreign Countries

• Panama offers ex-pats a mild climate in the mountains or more cosmopolitan, tropical Panama City.Hemera Technologies/Photos.com/Getty Images
  
  The United States does not have a low cost of living when compared to many countries throughout the world. A number of retirees opt for greener, cheaper pastures overseas. Latin American countries are among the closest and most affordable. Panama offers a tropical climate and low-cost housing. Nicaragua is a more daring choice, offering cheap housing and a more rustic lifestyle, lacking some of the amenities, such as leisure time activities, retirees may consider important. Costa Rica is the most expensive Latin American country, but it is still cheaper than the United States. Mexico also offers economical housing. Retirees who wish to remain in close contact with family need to take transportation costs into consideration.
  
  

A Number-One U.S. Choice

• Florida's Gulf Coast offers affordable communities, a warm climate and amenities retirees desire.Dynamic Graphics Group/Dynamic Graphics Group/Getty Images
  
  Most retirees, as fascinating and tempting as foreign destinations may be, decide to stay closer to family and friends. CNN Money publishes a list of top retirement destinations each year. Its 2009 list highlighted communities where retirees can get the "best bang for your buck." Port Charlotte, Florida, was number one on the list with average home prices around $170,000. The locale offers great amenities, including a pastoral climate, water recreation, golf courses and a laid-back outdoor lifestyle. Communities throughout Florida repeatedly appear on affordable living lists.
  
  

More Retirement Havens

• Hendersonville, Nevada, offers retirement communities, a mild climate, proximity to Las Vegas and a reasonable cost of living.Jupiterimages/Photos.com/Getty Images
  
  Florida is one of seven states with no income taxes. The other six are Alaska, Nevada, South Dakota, Texas, Washington and Wyoming. Alaska provides tax incentives to retirees, but most people reject the harsh climate. Communities in Texas, Nevada and Washington often rate high on retirement hot-spot lists. Hendersonville, Nevada, is outside Las Vegas, offering reasonable housing costs and proximity to the city. Spokane, Washington, Cheyenne, Wyoming and Stafford and Houston, Texas, are additional suggestions.
  
  

Choosing a Retirement Location

• Availability of adequate medical facilities should be a prime consideration for retirees considering relocating.Hemera Technologies/PhotoObjects.net/Getty Images
  
  There is no one perfect retirement place for everyone. Retirees should take into account a number of factors. Affordable housing is the first critical component for most retirees. A decent economy is important because communities in fiscal distress are likely to raise taxes and decrease municipal services. Reasonable access to medical care becomes increasingly important as people age. An abundance of leisure time activities is --- as the saying goes -- the icing on the cake. University communities rate high because many offer reasonable housing, low-cost cultural activities and a lot of reasonably priced, casual restaurants. Communities on the outskirts of cities provide inexpensive housing and access to the city's cultural activities. Wilderness or rural areas far from amenities should be passed up. Travel becomes more difficult and accessible health care more important as retirees age. The availability of public transportation should be a priority before needing the service.
  
  

Five Communities for Retirees to Think About

• Pittsburgh offers retirees affordable housing, cultural activities, medical facilities and public transportation.Jupiterimages/Photos.com/Getty Images
  
  MSN Money cites five retirement communities suggested by Bert Sperling, an author, researcher and analyst. They are listed in no particular order. Rodgers, Arkansas, is close to the Ozarks, a major recreational area, and near Fayetteville, the home of the University of Arkansas. Moon Township, Pennsylvania, a suburb of Pittsburgh incorporating a number of small towns, offers reasonably priced housing along with the cultural diversity and activities of Pittsburgh and its many universities. Noblesville, Indiana, is outside Indianapolis. Gainesville, Florida, is home of the University of Florida. Mt. Vernon, Washington, is located in the middle of bucolic farm country one hour from Seattle.