The World’s 8 Best Places to Retire in 2014

If you could retire anywhere in the world, where would you go? As we find ourselves at the beginning of a brand new year, that's a question worth asking. The very good news is that we are living in a time when it's not only possible, but easier than ever to launch the retirement adventure of your fondest day dreams almost anywhere on earth that appeals to you.

Specifically, here are the best, most comfortable, affordable, convenient and rewarding spots worldwide for retirement in 2014. Which one is calling your name?

1. Coronado, Panama

Monthly budget: $1,800

Monthly rent: $600

Panama caters to foreign retirees like no other country in the world. Day-to-day living is affordable, the approach to taxation is favorable and property prices remain a bargain outside the capital city. The country boasts perhaps the world's most generous incentive program for retirees and uses the U.S. dollar as its currency, meaning no exchange-rate risk for retirees whose retirement income is also denominated in greenbacks.

Panama City is being remade in real time right now thanks to a myriad of public works projects, including the expansion of the Panama Canal. Panama also offers some of the most advanced medical care facilities in the region. Many Panamanian doctors are U.S.-trained, and Panama City's hospitals are first-rate.

My top recommendation for retirement in Panama in 2014 is Coronado, a beach community on the country's Pacific coast about an hour outside the capital. Life here could be comfortable, convenient and turn-key, as this area is home to one of this country's most established communities of foreign retirees.

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