DON'T look now, but Guam has just been named one of six affordable retirement places for Americans in the world.

Guam joins Chiang Mai in Thailand; Vancouver, British Columbia; Valencia, Spain; Buenos Aires, Argentina; and Lake Atitlan, Guatemala, as one of “Six Global Destinations for an Affordable Retirement” in an article that appeared last Aug. 14 in the Fox Business News website.

Author Michael Foster wrote that Guam is an often overlooked alternative for American retirees, despite its many benefits.

“Because it's an American territory, English is spoken everywhere on the island, and its currency is the U.S. dollar. And, at least on the surface, much of the country's (sic) culture and politics will seem familiar to many Americans,” Foster wrote.

Guam is also seen as a lower-cost alternative to Hawaii while sharing the same climate, with one-bedroom apartments in Guam renting for as low as $400 per month, luxury units facing the sea costing just $1,000 per month, and American citizens able to buy property, with three-bedroom houses often selling for less than $200,000.

“Since the country (sic) is a small, remote island, most items have to be imported, which means groceries can be more expensive than in the U.S. Meats, most vegetables and some dairy products can cost twice as much. Restaurants, however, are usually comparable in cost to their American counterparts,” Foster qualified.

“(But) besides enjoying the weather, retirees in Guam can use both American and Guam-based insurers – including Medicare – to cover their health care costs. All major medical services are available at Guam Memorial Hospital, which is certified and accredited by several federal agencies,” Foster added.

This, of course, is where a reality check is needed. We know for a fact that GMH is far from fully addressing the medical needs of the island’s residents, whether retiree or not.

The Fox article echoes an earlier one that appeared a few years back in the prestigious Barron’s magazine, also prominently mentioning Guam as a possible retirement haven for Americans looking for bargains.

Barron's is a publication of Dow Jones, the same company that publishes the Wall Street Journal.

In an article entitled "In America's Shadow, Paradise Found," author Steve Bergsman wrote that Guam, the CNMI and American Samoa could be worth a second look as retirement havens because they still have affordable prices while having all the advantages of being American territories.

The article pointed out that the two Caribbean U.S. possessions – the U.S. Virgin Islands and Puerto Rico – relatively have expensive real estate, as a 2,000-square-foot home with an ocean view usually costs more than $1 million, sometimes much more.

Guam, the CNMI and American Samoa, in contrast, can still be considered bargains.

The Tumon Bay area of Guam was described by the article as "a mini-Waikiki." Bergsman also pointed out that Guam is much cheaper than Hawaii and not as isolated as many people think. The article likewise mentions that the hype about the brown tree snake, which supposedly has overrun the island, is definitely overblown.

Of course, there are also critics of the notion that Guam is a retirement haven.

Former Guam resident Brad Boydston, who lived for about two years on Guam, wrote a reaction to the Barron’s article in his blog: “(Guam’s) a great place! I am, however, having a hard time picturing Guam as a retirement destination. As a citizen and registered voter I don't mind mentioning that the island is also a pretty quirky place. We have a totally dysfunctional territorial government that is perhaps best described as third world – with a thin and spotty veneer of America painted over it ... a shortage of medical specialists ... typhoons, a fairly high cost of living, and an insular outlook on the world. People more or less know that there is a problem. But there is some kind of cultural inertia which prevents Guam from taking significant steps to deal with the real issues.”

He adds: “None of this stops me from enjoying Guam or its people. It's a great place for anyone on a mission or an adventure – or both. I do wonder, though, how many retirees will want to spend their golden years putting up with the nonsense – probably not many. The locals tend to drift toward the mainland or Hawaii as they get older.”

Boydston’s blog post was written way back in 2008. And yet, many of his criticisms still ring true today. On a more positive note, Boydston writes: “I do love Guam! It is beautiful and has a lot to offer – especially the terrific fusion of cultures ... the American flag flies high; English is the primary language; there is U.S. postal and banking; the ocean views are spectacular; the clouds are usually eye-catching; the sunsets are gorgeous.”

As for me, I still believe Guam is a paradise where you are only minutes away from a beach wherever you live on the island. Now, if they can only fix the hospital, Guam could be competitive as a retirement destination. With the completion of the new hospital to complement GMH, let’s hope more retirees would be enticed to invest here and retire on our tropical paradise.