South America is emerging as a serious retirement option for Americans seeking low cost of living combined with good healthcare and warm climate. Five countries in particular—Colombia, Ecuador, Peru, Argentina, and Chile—offer compelling combinations of affordability, healthcare access, and established expat communities.
Ecuador and Colombia are especially popular because of their low costs (you can live well on $1,500–2,000 monthly), accessible healthcare, and straightforward retirement visas. Ecuador's Pensioner Visa requires proof of $1,500 monthly income; Colombia's Pensioner Visa requires $1,000. Both countries have large American expat communities, especially in cities like Cuenca, Ecuador, and Medellín, Colombia. Healthcare is good and affordable, though you'll want private insurance to supplement public systems.