3. Panama

Panama always takes the top spot in the retirement-benefits category due to its pensionado, or pensioner's, program. Conceived to secure discounts for Panama's senior citizens — savings on everything from surgery to movie tickets — the program is open to foreigners and even grants them residency. In ultramodern Panama City, you can buy a two-bedroom condo for as little as $85,000. Thanks to the Panama Canal, this long has been a cosmopolitan international destination. Yet it's still affordable. You can live comfortably in Panama City for as little as $1,500 a month, including rent (or mortgage). Panoramic Images
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