The 8 Cheapest Countries To Retire Abroad To

Every day we talk with clients about the idea of retiring abroad, so I thought I'd go through some of the cheapest countries you can retire to that also happen to be some fantastic places to live. Please remember that retiring abroad isn't an easy process! You need to do a lot of planning before you leave Canada, so make sure you get a plan in place so you don't have anything unexpected come your way...such as departure tax!

Financial Resources I personally recommend:

OUTLINE
0:00 - Travel + Leisure Article
0:29 - Mexico
1:10 - Ecuador & Costa Rica
1:38 - Portugal
2:28 - Panama
3:03 - Vietnam
3:22 - Montenegro
3:44 - Colombia
4:30 - Tip #1: Tax Treaties
5:52 - Tip #2: Departure Tax
6:26 - Tip #3: Plan!

This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.

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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

[mariemyers]

WOW! US citizen and your tips are so helpful. Great suggestions! Definitely discussing items you suggested with our financial planner AND our CPA (tax attorney).

[chrisskyllas]

Greece has an interesting incentive program for foreign retirees. 7% income tax for 10 years as long as you stay in the country for more than six months a year and the retirees come from a country that has a tax treaty with Greece. Sweet deal if you want to spend 10 years of your Go-Go phase touring Europe. Flights intra EU are super cheap.

[piratecovephilippines]

Funny that Philippines isn't on the list. So many moved here.
8 years now and love it.

[murraytown]

With the exception of maybe Portugal, there is a reason why these places are so cheap.

[angus]

When I was in Colombia people said the only thing Medellin was missing was a beach. Otherwise it would be the perfect city. From what I saw, I’d agree.

[buckw]

Aruba didn't make his list but that's our jam

[bradseward]

Ecuador seemed very nice but cloudy and rainy during Canadian winter months (8-9 years ago)
Colombia seemed to have much better weather (9-10 years ago).

[mrslcom]

A lot of retirees move south for 6 months and live in Canada for 6 months a year. They can retain their health care while enjoying nice warm weather abroad. The savings from living in other countries can offset the airfare.

[jagparhar]

Absolutely wild that you have to pay tax on money or assets that have already been taxed heavily. If you decide to leave canada

[dannychhann]

Cambodia what is tax withold, with canada

[robocop]

Thailand, Malaysia, Philippines. These three countries are very popular low cost retirement destinations

[marieklyne]

Could you recommend any cross border accountants in Edmonton? Thanks

[HDSPMwithJR]

Good stuff, please expand on Mexico and best tax practices. Intrigued by the clients paying more tax in Mexico vs Canada.

[tubeyou]

Experience gained as a tourist is quite different from as a resident. Everyone should be aware of that.

[maryjoan]

I wonder if anything is cheap for Canadians this year... Mexico is very expensive now

[MegsCarpentry-lovedogs]

Adam. Good topic! I LOVE Canada and feel very safe. I am very proud to be Canadian and to travel about the world being respected by so many other travelers. I like heading out to travel for a few months but never to leave our beautiful democratic country.

[currypablo]

I take it that Spanish classes are being offered at Parallel Wealth along with financial planning 😅✌️👍

[ImVeryBrad]

I would never leave Canada for good, but I wouldn't mind leaving for winter each year

[HuatulcoGuy]

I am a Canadian retired and living in Mexico. Living in Mexico may not be as affordable as many Canadians think. Gentrification is causing prices to rise in popular expat areas. Sure you can move to more truly Mexican communities but life won't be easy there if you cannot speak Spanish.

[oliviertwist]

A question to Adam: do you also give advice to Quebec residents? Although, you mention coast-to-coast but never mention Quebec and when listing various retirement pension sources, you always refer to CPP but never to QPP. I ask this question because I know Quebec and Ontario residents who worked in a foreign country before coming to Canada and who recently retired. Each had a different procedure to follow and different outcomes. It seems that Quebec has separate retirement agreements with foreign countries that do not follow the same English Canada rules (CPP vs QPP etc.). This might also be the same regarding taxation in cases of retiring abroad, not necessarily in the old country.