|More Baby Boomers and Seniors from the USA and Canada are drawn to Ecuador, Panama and Mexico|
High cost of living, health care costs and weather are among the advantages that a growing number of American and Canadian retirees are choosing to retire abroad. For retirees, leaving the United States or Canada often means a more affordable way of life, including low-cost healthcare, real estate and even gasoline prices.
Ecuador, Panama and Mexico are among the top restirement destination according to International Living magazine's 2012 Global Retirement Index.
The US State Department estimates that some 6.3 million Americans are living abroad. The warm weather, cheap housing, and inexpensive healthcare are a draw, especially for baby boomers with eroded nest eggs and a sense of adventure.
Ecuador seen as new retirement hot spot, (Reuters) A tight-knit community of expatriates and a friendly culture are among the other appealing aspects of life in the Latin American country, which is the leading location for bargain-hunting retirees.