PANAMA
Panama is kind of "hot" right now, the same way Costa Rica was a decade ago. If for no other reason, it is worth a look for their retirement visa programs which appear to have some special features.
One level is based on showing a pension (or social security) of only 500 USD plus 100 USD per dependent. This option would appear to be of interest to people with a lower income pension or social security. This is quite a low requirement compared to other countries. It would be safe to assume that the government of Panama thinks this small amount will buy an adequate lifestyle in Panama.
The other option for those without pensions is to bring in approximately 200,000 USD in a fixed depost account in Panama. This option has appeal to early retirees with capital they can tie up. Note that Panama uses the American dollar (with Panamanian coins) as their official currency and Panama banks are considered quite safe as Panama is seen as the "Switzerland" of Central America. Also note that this 200,000 USD level was raised from 100,000 USD which is a figure you will still see on other websites.
According to the following link, the 200,000 USD level can be reached by buying real estate of that value, or a combination of real estate and a deposit:
http://www.panama-guide.com/article.php/20041207151513730
Both options offer some other very attractive priviledges, detailed on this link:
In any case, if you choose Panama, it is quite clear that the government there is putting out a major league welcome mat.