Retiring abroad?

[flamin lib]

We are considering retiring abroad, probably in Central America. Panama looks do-able as does Costa Rica; both have stable representative democracies and both are striving to reduce poverty and making progress. Any other possibilities? Any experience with living out there?

Yeah, there's poverty and that's why our retirement will go so far but if we bring cash into the country and help alleviate it while living a better lifestyle it seems like a win/win.

[calimary]

1. Can't say I haven't thought about it myself.

Especially if the teabaggers keep making inroads. Not sure how much of the American I grew up believing in - will still be there to fight for (and believe in), in the years ahead, or how far to the right the country will be pushed before the proverbial pendulum starts swinging back the other way. If it even does.

[COLGATE4]

2. Costa Rica has become entirely too expensive. The time to go

there was 20 years ago. Check into Panama - they have a generous social program for retirees (including foreigners) and getting the appropriate visa in order to bring household goods and a car is pretty straightforward. You will eventually need the services of a Panamanian law office to navigate the visa/importation paperwork but there are lots of good lawyers. Housing is plentiful and not very expensive by US standards. People are friendly, English is quite common and, of course, the national currency is the US dollar so no currency exchange problems.

[flamin lib]

3. Panama is another option we are considering. Do you have any

personal experience there?

[SoCalDem]

11. I grew up there when it was still a verdant paradise

It's probably still a beautiful place. We were Air Force, and the CZ was our little piece of the USA. It's probably more wide open now..

I would advise spending at least a few weeks there, driving around and asking people who live there what they like/don't like.. I would also advise seeing a lawyer if you plan to buy land/a house.

If I did not have too many pets, and 40-yrs worth of junk,I would really consider moving abroad.

Check into the health care issues too, and what it would cost an ex-pat.

Gorgas Hospital was a pretty great hospital.. Not sure if it's still around though.

[mike_c]

4. my partner and I are looking....

We won't be retiring for another six or seven years, and when we do I hope to participate in an early retirement program that requires me to work for one semester a year, so we're not leaving soon. But we're thinking about South America-- Ecuador or Argentina, maybe Peru, or maybe Nicaragua in C.A.

[Vincardog]

7. I just got back from Ecuador. I could not take the altitude. Maybe the coast would be better

[mike_c]

12. she spent 30 years in Denver and we're both in good condition...

...at present, at least. We spend lots of time above 6000 ft during summer, often above 10K, so although we expect to have to acclimate, we're pretty sure we can. Hell, I still want to see the Alto Plano before I die!

[Puglover]

13. It was strange. I was thinking Costa Rica

Belize, even the Pacific coast of Ecuador. But when I saw Cotacachi, and our land I knew I had come home. I am not a hot weather person and 365 days of Spring a year is hard to beat for me.

[PBS Poll-435]

5. Egypt

That sounds do-able.

[Puglover]

6. Google Cotacachi Ecuador.

We are building a house and moving there in the next few years. It is a paradise.

[flamin lib]

8. Oh, that looks really nice! How is health care? Real estate and cost of living?

It's a little farther from the US and our kids than C.A. but do-able.

[Puglover]

14. Health care is state of the art and cheap.

Food is fresh and beyong cheap. Cost of living is low. Land and housing is what you make it really. Our lot was 50k but we bought in a really new and beautiful area.
www.andeanretreat.com
The guy who is the developer is a great progressive and will be a neighbor. He actually told a big Bush supporter and war cheerleader that remarked one too many times that Ecuador just wasn't the US but thank GOD we can afford a maid down here that his development wasn't the place for him. And I loved that.

[TBF]

15. How beautiful - I would love to move there! nt

[JCMach1]

9. Belize is also easy...

[flamin lib]

10. The pluses are it's an e\English speaking country, it uses U.S.

currency and has good infrastructure. Any downsides?

[Bragi]

16. Nicaragua gets good reviews for retirement /nt

I don't have personal info, but last time I perused this topic, Nicaragua was being touted as still-affordable, very stable, and a nice place to be.

[WinkyDink]

17. Pet peeve: The Americas aren't "abroad."

We're all attached.

[DCBob]

18. Im heading to the Philippines as soon as I can work out the details..

My wife is filipina and I was Peace Corps there many years ago. The PI has some of the most beautiful beaches in the world, friendly English speaking people, COL about 1/3 of US. Lots of westerners starting to retire there.. Americans, Brits, Aussies, Germans, etc. Healthcare is decent in the larger cities and Guam (US Ter) is nearby if Medicare treatment needed.

I think this is going to become a growing trend and many aging boomers realize they cant afford to retire in the US.

[FLPanhandle]

19. I'm retiring onto the sailboat.

I figure I'll see them all.

[flamin lib]

20. I thought about doing that so to practice I moved into my closet and

had my wife wake up every four hours for watch change . . . .

;-)

[Statistical]

21. Belize is nice, and relatively close and about 80% of population speaks English.

They have an active retiree immigration program

http://www.belizeretirement.org/

The country has a PPP of 1.9 which means $1 goes twice as far. $50,000 retirement income in Belize would be like having $100,000 retirement income in the US. There is also the advantage of the country speaking English.

Electricity is rather high (about $0.35 per kWh) but the country has great solar insolation (about 10% higher than Southern California) which makes the economics of solar great.

[NNN0LHI]

22. Do they accept Medicare there?

Or any private health insurance you may be depending on?

Don

[Statistical]

23. No (or at least not in most cases).

However this isn't an impossible situation to overcome.

It requires planning and resources but there are other options.

1) Many countries have decent public health care and retirees paying taxes in country are eligible.
2) Other people plan to pay for routine healthcare "in country" in cash (or by private in country insurance) and then return to US for major procedures via Medicare.

Paying cash for routine care isn't that difficult. In Belize for example a Doctor's visit may cost $5 to $10, drugs run 50% to 90% less than in the US. It does take some planning and some assets though. Most people are not going to be able to live in foreign country w/ only Social security for example.

Still someone who has half million in savings (or pension with lifetime benefits worth an equivalent amount) and is willing to sell their primary residence (another $200K to $300K) can live a nice lifestyle in a foreign country.

[bikebloke]

24. Thought about it.

The big factor will be some place where I can live off social security. The greedy lutocrats though might have trashed that option by the time I'm put out to pasture. Then it's a cardboard box under a bridge.

I've read about Panama and Uruguay. But I would need to visit first. I heard a lot of things about Costa Rica. But once there, it didn't click with me. I liked Argentina, feeling like I could live there.

But getting out is definitely an option.