By BBN Staff:Investopedia, one of the leading sources of financial information on the web, has named Belize as one of eight countries where US $200,000 in retirement savings can last up to 30 years.
Investopedia points out several benefits for US citizens looking to retire abroad, including cheaper health care, a refreshing change of scenery and a lower cost of living. The article compiles a list of the countries where retirees are most likely to stretch their life savings as far as possible.
It estimates that monthly expenses in Belize could start as low as US $1,619, according to data from International Living. Apart from being extremely budget friendly, Investopedia notes the country’s palm trees, blue skies and sandy beaches as excellent reasons to pick Belize as a retirement destination. Beyond the obvious aesthetic praises, Investopedia says housing in Belize City is “dirt cheap”, with a 900-square-foot furnished rental for as little as US $436 a month.
According to the publication, the Qualified Retired Persons Incentive Program makes it even more attractive for retirees age 45 and up since any income earned from sources outside Belize is 100 percent tax-free. However, the catch is that foreigners must receive a $2,000 minimum and regular payment from pension or another business source outside Belize to be eligible for the program, it said.
The other countries featured on the list included Ecuador, Nicaragua, Thailand, Panama, Costa Rica, Malaysia and Spain.
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