4. Panama: The Pensionado Program Pioneer

Panama actively courts foreign retirees through its renowned Pensionado program, which is widely considered the gold standard of retirement visas. If you have a guaranteed monthly income of $1,000 from Social Security or a private pension, you qualify for lifetime residency. More importantly, the visa grants you sweeping discounts across the country: 25 percent off utility bills, 25 percent off airline tickets, 50 percent off entertainment, and 10 to 20 percent off medical bills.

Panama uses the US dollar as its currency, completely eliminating the stress of exchange rate fluctuations for your portfolio. Whether you prefer the cosmopolitan skyline of Panama City or the temperate, spring-like climate of Boquete in the highlands, a $2,000 monthly budget provides an incredibly comfortable life. Healthcare in Panama City is exceptional, anchored by Hospital Punta Pacifica, which is affiliated with Johns Hopkins Medicine International.