Latin America consists of the North and South American countries. Every year, millions of people around the world troop to this region to enjoy the sites and create memories while visiting its spectacular beaches, mountains and rainforests.

Many also come to simply experience the colorful culture of the Latins while others want to settle there for good. Moreover, because of the continent's proximity, nice climates and affordable cost of living, Latin America naturally becomes the choice for most people to retire or live in. Listed below are some of the best Latin American countries to live in:

Panama

In an article in Forbes, Panama ranks first place. This is a popular choice due to the convenience it can give to settlers. It is affordable to live here and the retirement program it offers remains unmatched, with a long list of benefits and discounts.

The English language is also widely spoken so it will not be hard to adjust to the community. For the backdrop, rainforests, plantations and the quaint Caribbean beaches offset the bustling capital city.

Argentina

Argentina is a good place to live in because it offers a lot of unbeatable options for permanent residency. Aside from Buenos Aires which is known as the "Paris of South America," the many other places throughout the country are good spots to relocate.

There are also many English speaking communities here so language will not be a problem. In addition, buying a property here is easy even for a foreigner who only has a 90-day tourist visa. Over-all, there is less hassle for becoming a permanent resident.

Mexico

For most Americans, Mexico is the no. 1 destination for retiring or living for long-term. Firstly, it is not hard to relocate here since it is close to many countries.

The infrastructure is excellent in this region, plus the health care is excellent. The best part is, the cost of living is really low compared to the U.S., according to Wheaton.

Ecuador

This country is one of the world's best places to live in and retire. It was also ranked no. 2 in the Forbes list.

The main reasons for the high ranking are Ecuador's amazing scenery and affordable cost of living. Any family can enjoy a very comfortable lifestyle even with just a $1500 to $1800 income per month.
The weather is mild and health care are good too. What's more is that the country's economy is stable.

Costa Rica

Aside from the opportunity to live a much slower-paced life, Costa Rica's health care programs are one of the best in the world. Residents can enjoy totally free prescriptions, medical check-ups and even major surgeries.

Lastly, the country is safe and economically stable. The weather is warm and the pension program for retirees are higher than most countries.