Best Country to Retire

I'm nearing retirement age and am considering stretching my retirement income by settling somplace more economical to live. Where are English speaking countries that welcome Americans and have a decent lifestyle but are a bit cheaper to live in than the U.S. ?

Panama and Costa Rica are both supposed to be superb. They are relatively safe (Costa Rica has a very stable government and a lower crime rate than most places in the US), very cheap by US standards, most people speak at least a little English allowing you to improve your Spanish slowly and they have enough US style goods and products in stores to minimize the culture shock.

There are a couple of websites dedicated to international retirement that have a bunch of info on Costa Rica and Panama. Try googling "retire in Costa Rica" and that should bring them up.

Barring luxuries like tech electronics of course.

I cannot think of any country. Bulgaria (as mentioned in the 2nd answer) is not an option with 1200 USD/year. It's a very good country with rather low costs, but even the minimum wage is higher and you would not get a residence permit with only 1200 USD a year. But…. when do you plan to retire? You could buy some land or apartment in Bulgaria, the prices are going up about 15-18 percent per year, you could rent out the apartment too, thus making your money grow. Over time you would a) have an apartment, b) have an income c)have enough credentials for a residence permit. You could consider to put the real estate in a company in your name (Ltd. comparable with an Inc.). After only a few years (3-5) you could already be in the clear. Questions: message me.

Most companies nowadays don't pay for Health Insurance for retirees. So when you are ready to retire and do not have company backed Health Care, will a unified system be better?

It needs health care now.