10 Best Places to Retire - Ecuador

If you have always dreamed of retiring near warm sand beaches, or living in a lap of luxury near the Amazon basin you can make that possible in Ecuador. Recent studies show that retirees living in Ecuador are able to live on half of their social security income. That is impossible in the United States, where social security won’t even cover basic living expenses. Find out what makes Ecuador one of the 10 best countries to retire.

Ecuador is located in Northwest, South America. It lies along the Pacific Coast and is surrounded by Peru and Columbia. The main language of Ecuador is Spanish, but there are still many native languages in less populated areas. Interestingly, Ecuador used the United States dollar as it currency. Paper money is accepted everywhere, but many shop keepers will be wary of taking bills over $10. There are two types of coins in Ecuador, typical United States coins, and Ecuador coins, which are the same size and the same shape as the United States versions.

Prices in this country vary greatly. It mainly depends on where you are located. In the more tourist ridden places money will go about as far as it will in the United States. Upscale restaurants and hotels tend to be about 10 percent less than you would find in the United States, but if you go into the more rural areas prices are much lower. What you would typically pay in the bigger cities and tourist spots you would only pay a small percentage for in the rural areas.

The weather in Ecuador also varies greatly depending on the time of year and where you are. The coastal areas are hot and rainy through January and April, but the rest of the year they are more temperate and dry. The highland mountain areas tend to have their wet seasons from June through September. The valley areas of Ecuador tend to have spring like weather all year long. Of course down in the Amazon you will experience typical rainforest weather, hot and wet.

Taxes in Ecuador are different than the United States. Income taxes are based on a scale from 5-25 percent depending on your income amount. Property taxes on the other hand are very low in comparison to United States costs. You will pay pennies on the dollar in Ecuador to what you would pay in the United States. Sales tax is 12 percent across the board.

The weather is amazing in practically any region on the country. The costs are low and the people are welcoming and friendly. Retiring in Ecuador may seem like a dream, but it is more attainable that you might realize. Find out what makes it one of the 10 cheapest places to retire.