Retirement Outside of the U.S.
motorhead
Fat, drunk and stupid is no way to go through life
I'm not nearly ready for retirement. (Although my sister, who is just two years older than me, did take early retirement this year). I still like my job. And it's not like I'm out in the hot sun digging ditches.
I often see shows advertising retirement to Mexico and Central America because housing and the cost of living is so much less.
True, I've seen some homes in Central America for sale. But they're not giving them away. $400,000 for a small mansion. Yeah, cheap by US prices, but I don't want to give up living in the U.S. just to live in a mini mansion. I'd rather still live here and live in a crummy apartment.
I often see shows advertising retirement to Mexico and Central America because housing and the cost of living is so much less.
True, I've seen some homes in Central America for sale. But they're not giving them away. $400,000 for a small mansion. Yeah, cheap by US prices, but I don't want to give up living in the U.S. just to live in a mini mansion. I'd rather still live here and live in a crummy apartment.
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Some Americans have moved to Central American countries because they are in their late 50's and have lost their jobs and have no medical insurance. Medical care is very cheap in many of these countries. And you can live a nice life on a small retirement income. Living on Social Security alone in the US is brutal.
I would never BUY property in any of these countries. Too many things could go wrong, and the courts favor natives and those who give the biggest bribes. Renting would be the only way to go.
But I'm not moving. These places are nice to visit, but I love the USA and I have enough retirement income to live her comfortably.
I have talked that over with my wife when I first heard about people doing this (from Southwest US). She was open to be idea and sort of intruiged, assuming sufficient safety existed for her in a non-US place like Mexico.
Being that I'm fully fluent in Spanish I feel I could immerse myself fairly well and live like a local instead of an expat gringo - I may also consider the Dominican Republic b/c one's $$$ can go very far there, warm climate _ beaches, and lots of willing-and-able hos, although the standard of living there is not too high but I'd be a jump & a skip away by plane from Miami & could shuffle back and forth (and I'd have Medicare and could fly to Miami for serious medical treatment) - I also would not mind retiring in Rio but IDK if that eould feasible & I'd have to learn Portuguese - either way I'd probably prefer to live like a local w/ low expenses and have $$$ for young pussy vs living in an expensive expat community.
All of it makes no ethical sense to me, but I guess when it comes to international affairs what the US says goes right or wrong.
I would miss too much what I have here, so my plan is to get rid of all my debt, and downsize to a smaller house in a more rural/secluded part of America. Then I can have a low cost of living area with the means to travel to places like Ecuador for a couple months out if the year. Retiring to any lower cost of living area tends to be the most common formula after working in a high cost of living area. This way your post retirement benefits are based on your pre-retirement earnings, allowing to do much more than you ever thought. It is the second childhood that you get to live out. Pussy saturation will be at its highest, with a hot dolled up, Stripper quality beauty no more than a few hundred feet away at all times willing to suck you dry.
People say that the things Americans don't like about Mexico will eventually change, like the crooked cops.
Also lots seem to go for the moderate country Costa Rica.
I would suggest though going to a place you think you would enjoy, lower cost or not, rather than specifically seeking lower costs.
I will be often in Mexico in the years ahead. So as the years go on I might want to spend more and more time there. I think it is a really neat place. But not everyone will see it this way, and not everyone wants to be going there.
Are there places you have been spending time, besides your primary residence?
SJG
SJG --> "I would suggest though going to a place you think you would enjoy, lower cost or not, rather than specifically seeking lower costs." --> end quote
^^^This is generally very good advice.
From now on I'm going to refer things like that as "Lloydisms". Lol!
This scenario I shall consider as a parody of "Lloydism" whenever SJG goes fucking insane on this website.
Besides I want to be near my family. Currently I live in a retirement community in a suburb of Atlanta. I do not pay any state taxes and the property tax on my 1500 sq ft house is only $414/yr.
There are all kinds of possibilities. You could take up residence in Florida, Georgia, Alabama, Mississippi, Louisiana or Texas. You could spend at least the early rears of your retirement cruising the Intracoastal Waterway, alternating anchoring out and tying up.
With all of this, you would still be in the USA.
SJG
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^^^ Sounds safe, right? He can walk around at night. But maybe it's not affordable (Versus Atlanta)
Of course there are expenses other than dockage, but there are also expenses other than the mortgage costs as well.
Maintenance costs can be largely avoided if you do the really routine stuff yourself, like oil changing, winterizing & reconditioning, bottom painting, etc. Example: My boat needed a rudder angle indicator and autopilot at the lower control station. I purchased the control head, built a housing that conformed to the existing console, and wired it up. Total cost was less than $450. Had I let the people who supplied the unit mount and wire it, I would have been looking at about $1500. In the interest of full disclosure, I have a degree in naval architecture and marine engineering.
For marinas, you might need look outside the traditional areas. For example, my marina is 17 miles south of Annapolis. My slip in Annapolis would be $10k to $12k for a marina that is not as commodious.
Safe havens from hurricanes are obviously an issue. However, I would point out that, unlike a house, a boat can be moved out of the path of a storm, or hauled up on shore.
Is living aboard a cheap way to live. It can be if you want to live a very denied life. However, for maintaining a reasonable standard of living, it will be generally less expensive than living ashore.
$70 to $90 per hour is a huge amount of money, and implies that you are using a lot of horsepower to move fast. My 390, a trawler, uses just 2 gallons per hour at 7 knots, plus about another quart if I'm running the generator. Total price today, less than $6 per hour underway. The engines of today will run 6000-8000 hours before they need major maintenance.
YMMV!
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