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Where to retire? Your opinions please.....
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Author:  Elkarlos [ Sun Mar 03, 2013 6:47 pm ]
Post subject:  Where to retire? Your opinions please.....
I am interested in your opinions about where you feel is a good place to live/retire and why. I am mainly interested in Central/South America.
I used to think Costa Rica would be a nice place to retire. Wrong. It has gotten way too expensive and many goods are pirated (junk) copies, or seconds. Doing business with the banks and government is a bad joke. I do not feel welcome here, as I once did. A LOT of realitively simple things are often really challenging to get done. Pura Vida.
Panamá's economy is kicking ass and goods are much cheaper and better quality. Dollar based, but not driven, economy. But, it is phucking hot and the women (with all due respect) tend to be ugly. I do need to investigate Panamá more.
Nicaragua? If the government changes and stabilizes, it will be an investment haven. Decent prices. A lot of hard working, good people there. Still some violence.
Colombia? I have been to MDE several times, but do not know enough overall to make a call. I do sense the possibility coke trade and it's violence returning from the shadows. Nice people. Good economy. I like Colombia.
Ecuador? It is crazy in the cities, but the countryside is really inviting. Decent dollar based economy. I do not know if this is a good thing? Good prices. Growing tourist economy.
Brasil? I have not been there for quite awhile and from what I understand it is really expensive. Lots of violence.
Obviously, infra-structure, available goods, cost of living, security and a lot of other things need to be considered.
Thanks for taking a minute to comment.
Author:  BlueDevil [ Sun Mar 03, 2013 7:45 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
I'm in my second year of retirement in Colombia, and love it so far. I am part of a great paisa family that treats this gringo very well. Cost of living is about half of what it was in New Jersey (as long as the dollar holds up against the peso. :roll: ). Healthcare here is comprehensive and very good... perhaps a little more red tape, but at $37 per month who can complain. I find the Colombians amusing and loveable... and have thrown out any organizational skills I may have learned in my other life. :lol: I feel relatively safe in my pueblo, but have adopted new habits and adjusted my lifestyle to conform with my new environment. My real estate taxes are now $400 per year... as opposed to $7800. As a resident, I feel I get treated with respect and fairness by the Colombian government. It sucks being a pedestrian here, though..., you literally run the risk of death by auto :shock: .

If I didn't have so many ties to Colombia before I moved here, I would have given Ecuador a hard second look, though.
Author:  Zunbake3 [ Sun Mar 03, 2013 11:05 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Blue Devil, how much USD to live like a king in Columbia? There should be a section on places to retire and monthly USD costs.
Author:  Valleyranch [ Sun Mar 03, 2013 11:43 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Well Zunbak, before finding out how much u need to live like a king in Columbia, you will have to find where Colombia with "O" is

Just kidding. :)
Author:  BlueDevil [ Mon Mar 04, 2013 12:01 am ]
Post subject:  Re: Where to retire? Your opinions please.....
Zunbake3 wrote:
Blue Devil, how much USD to live like a king in Columbia? There should be a section on places to retire and monthly USD costs.


It all depends where you live, how and where you shop, how much travel, and what your "social budget" is. You can live very well in a nice Estrato 4 apartment for $3000 - $3500 per month. Estrato 5 & 6 places may put you over $4000 per month. Rent is still relatively cheap here in spite of the rising cost of property. When I first arrived here, I was paying $650 per month rent for a spacious 1360 sq ft 3 BR - 3 BA Estrato 4 apartment. My utilities run about $225 per month for gas, electric, water, cable TV, internet & sewer. I live in a municipality just south of Medellin. Once you get out of the greater Medellin area living costs drop significantly (with the exception of Rionegro & Llanogrande).

I bought a smaller (1200 square feet) apartment last year in the same building for $119,000 US. My admin fee is $110 US per month, and my utilities are about the same as before. Property taxes run me $400 per year. La senora and I cook most of our meals at home with grocery bills running about $60 - $80 per week for two people. There are some allowances for eating out & domicilio, so we budget about $500 per month for food and household goods. We do not skimp on meals, and eat well. I use public transportation, and don't have a car. Transportation costs about $125 per month (Metro, bus & taxis). SURA EPS health insurance costs about $75 per month for two people, and another $30 per month for domicilio medical service. The rest is pretty much "discretionary" income for savings, travel, entertainment and home improvements.

This budget works for me, but it may not work for others. At the very least, it is some sort of baseline.
Author:  Orange [ Mon Mar 04, 2013 12:23 am ]
Post subject:  Re: Where to retire? Your opinions please.....
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan. If I want to go to visit, I'll buy a ticket.
Author:  Devo [ Mon Mar 04, 2013 1:20 am ]
Post subject:  Re: Where to retire? Your opinions please.....
Orange wrote:
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan. If I want to go to visit, I'll buy a ticket.


What will you do if "the shit hits the fan" while you are on vacation in the 3rd world? :P
Author:  Skink [ Mon Mar 04, 2013 1:37 am ]
Post subject:  Re: Where to retire? Your opinions please.....
I'm too far away from retirement to give it serious consideration, but I've heard several different people lately tell me they are thinking about (Paraguay or Uruguay - sorry I can't remember which one).
Author:  Orange [ Mon Mar 04, 2013 12:05 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Devo wrote:
Orange wrote:
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan. If I want to go to visit, I'll buy a ticket.


What will you do if "the shit hits the fan" while you are on vacation in the 3rd world? :P

Get the Phuck out of Dodge.
Author:  Devo [ Mon Mar 04, 2013 1:24 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Orange wrote:
Devo wrote:
Orange wrote:
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan. If I want to go to visit, I'll buy a ticket.


What will you do if "the shit hits the fan" while you are on vacation in the 3rd world? :P

Get the Phuck out of Dodge.


Which is exactly what I would do even if I lived there.

Devo
Author:  Estebanh [ Mon Mar 04, 2013 2:14 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Orange wrote:
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan. If I want to go to visit, I'll buy a ticket.


When the shit hits the fan, it doesn't matter where you live. You "rights" will evaporate. You just better be heavily armed. :shock:
Author:  BlueDevil [ Mon Mar 04, 2013 2:16 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Quote:
When the shit hits the fan, it doesn't matter where you live. You "rights" will evaporate. You just better be heavily armed.


:shock: :twisted: :lol: :wink:
Author:  Irish Drifter [ Mon Mar 04, 2013 3:02 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Orange wrote:
Good ole USA.

I'm personally not going to live in the 3rd world where I may or may not have any rights is the shit hits the fan......


So many ways to answer that but since political discussion is frowned upon in this establishment I will just move on.
Author:  Hioctane [ Mon Mar 04, 2013 4:41 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
BlueDevil wrote:
Zunbake3 wrote:
Blue Devil, how much USD to live like a king in Columbia? There should be a section on places to retire and monthly USD costs.


It all depends where you live, how and where you shop, how much travel, and what your "social budget" is. You can live very well in a nice Estrato 4 apartment for $3000 - $3500 per month. Estrato 5 & 6 places may put you over $4000 per month. Rent is still relatively cheap here in spite of the rising cost of property. When I first arrived here, I was paying $650 per month rent for a spacious 1360 sq ft 3 BR - 3 BA Estrato 4 apartment. My utilities run about $225 per month for gas, electric, water, cable TV, internet & sewer. I live in a municipality just south of Medellin. Once you get out of the greater Medellin area living costs drop significantly (with the exception of Rionegro & Llanogrande).

I bought a smaller (1200 square feet) apartment last year in the same building for $119,000 US. My admin fee is $110 US per month, and my utilities are about the same as before. Property taxes run me $400 per year. La senora and I cook most of our meals at home with grocery bills running about $60 - $80 per week for two people. There are some allowances for eating out & domicilio, so we budget about $500 per month for food and household goods. We do not skimp on meals, and eat well. I use public transportation, and don't have a car. Transportation costs about $125 per month (Metro, bus & taxis). SURA EPS health insurance costs about $75 per month for two people, and another $30 per month for domicilio medical service. The rest is pretty much "discretionary" income for savings, travel, entertainment and home improvements.

This budget works for me, but it may not work for others. At the very least, it is some sort of baseline.


I have been calculating how much it would take to retire in Medellin as well. So you are budgeting 50% for entertainment? Rent/utilities in stratus 4 should be under $1000 and $1000-2000 stratus 5.
Author:  BlueDevil [ Mon Mar 04, 2013 7:10 pm ]
Post subject:  Re: Where to retire? Your opinions please.....
Hioctane wrote:
BlueDevil wrote:
Zunbake3 wrote:
Blue Devil, how much USD to live like a king in Columbia? There should be a section on places to retire and monthly USD costs.


It all depends where you live, how and where you shop, how much travel, and what your "social budget" is. You can live very well in a nice Estrato 4 apartment for $3000 - $3500 per month. Estrato 5 & 6 places may put you over $4000 per month. Rent is still relatively cheap here in spite of the rising cost of property. When I first arrived here, I was paying $650 per month rent for a spacious 1360 sq ft 3 BR - 3 BA Estrato 4 apartment. My utilities run about $225 per month for gas, electric, water, cable TV, internet & sewer. I live in a municipality just south of Medellin. Once you get out of the greater Medellin area living costs drop significantly (with the exception of Rionegro & Llanogrande).

I bought a smaller (1200 square feet) apartment last year in the same building for $119,000 US. My admin fee is $110 US per month, and my utilities are about the same as before. Property taxes run me $400 per year. La senora and I cook most of our meals at home with grocery bills running about $60 - $80 per week for two people. There are some allowances for eating out & domicilio, so we budget about $500 per month for food and household goods. We do not skimp on meals, and eat well. I use public transportation, and don't have a car. Transportation costs about $125 per month (Metro, bus & taxis). SURA EPS health insurance costs about $75 per month for two people, and another $30 per month for domicilio medical service. The rest is pretty much "discretionary" income for savings, travel, entertainment and home improvements.

This budget works for me, but it may not work for others. At the very least, it is some sort of baseline.


I have been calculating how much it would take to retire in Medellin as well. So you are budgeting 50% for entertainment? Rent/utilities in stratus 4 should be under $1000 and $1000-2000 stratus 5.


When I was renting, my rent and utilities cost around $875 per month. (There were smaller apartments renting in my building for $150 per month less. With other necessities like food, transportation and health care, my basic monthly costs (including rent & utilities) total around $1600 per month. Things like furniture, clothing, road trips, weekend finca outings, personal services, parties, movies, concerts, theater home improvements, savings and investments, etc. are not included in the $1600 figure. I am guessing that the average gringo could live comfortably on an additional $1400 - $1900 of discretionary income to cover expenses other than the basics. My discretionary budget is a function of how much I want to spend on the finer things in live versus what I want to put in the bank.

An unfurnished 1360 sq ft apartment (like the one I rented for $650 per mont in the pueblo) would easily fetch $1100 per month in an Estrato 6 neighborhood in Poblado... $450/month more. Utilities rates are also scaled higher in Estrato 5 & 6 developments, so utility bills would be higher. There are plenty of other larger, fancier properties in Poblado where the sky can be the limit for rental rates.
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