Why do so many retired Americans want to live in Latin America? These are the countries most favored by retirees.

After years of work and saving, many Americans find it a luxury to retire in their own country. A growing number of retirees are crossing borders in pursuit of something simple: to live better with less, in the face of the rising cost of living, the pressure of rents, and the burden of healthcare. Latin American nations, from Peru, Costa Rica, and Mexico to Colombia and Panama, have become havens where the budget is sufficient, the climate is pleasant, and life seems to return to a more relaxed pace. What factors are behind this quiet exodus, and why is the region becoming the new magnet for American retirees?