5. Ecuador: Andean Views and Unbeatable Cost of Living

Nestled on the equator, Ecuador offers staggering geographic diversity—you can choose between the Pacific coast, the Andes mountains, or the Amazon basin. The colonial city of Cuenca is a massive draw for American retirees due to its UNESCO World Heritage status, perpetual spring weather, and exceptionally low cost of living.

In Ecuador, your retire abroad budget stretches to remarkable lengths. A couple can live luxuriously for $1,500 a month. Rents for beautiful, modern apartments often sit between $400 and $600 a month. Because the climate in the mountain towns is so temperate, you rarely need to pay for heating or air conditioning. Like Panama, Ecuador uses the US dollar, making banking and budgeting straightforward and predictable.