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06-29-2015, 08:29 AM | #23 |
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The grass is always greener...
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06-29-2015, 09:58 AM | #24 |
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When considering this, you need to compare the costs and benefits to simply moving to somewhere very inexpensive in the U.S. and what your quality of life would be like there...
Now, if you can find another country to live in that has wonderful weather, great beaches, cheap food, great restaurants, quality healthcare....and costs 1/3rd your current cost of living....awesome! But those places tend to, you know, attract people who will drive up their prices and so they become and unstable place to retire too. There are plenty of gorgeous places in the U.S., some even just 1-2 hours from beautiful beaches, that are very low cost to live in and still maintain all the benefits of retiring in the U.S. Point being: You have to WANT to live in another country to make it work financially compared to just picking a low cost to live place in the U.S. |
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06-29-2015, 10:04 AM | #25 |
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Don't leave America....just retire in Detroit...that will be as much "3rd world" as you would ever want.
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06-29-2015, 10:18 AM | #26 |
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06-29-2015, 11:26 AM | #27 |
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Funny, Nef. I did my calculation the first time about 20 years ago (before wife or children) and I needed $4Mil. That included a brief lifespan due to the diabetes.
At this point, I just hope I have enough for Medicare part B payments for my insulin |
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06-29-2015, 11:41 AM | #28 | |
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And yes, I was thinking more along the lines of $4 mil to retire. No way I could live on $150k...
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06-29-2015, 11:46 AM | #29 |
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These days, I fully expect your son will not have to worry about insulin payments in his retirement days (unless he retires in his late 20s or something)
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06-29-2015, 11:48 AM | #30 |
is probably out riding.
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We're about 30-40 min due east of Dunedin which is north of Clearwater. So just a short trip to the Gulf.
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06-29-2015, 11:54 AM | #31 |
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Interesting this came up as that's the phase we are currently in, planning for our retirement getaway in the next 5 to 10 years(me way later than her due to divorce 13 years ago). We have relatives in Germany, Canada and Washingtom state. Also have friends who have left for Mexico, Costa Rica, Panama and Belize to retire.
Europe is expensive, possibility of health care is minimal and cash payments for that are expensive. To my friends and family leaving in Mexico and Central America they chose to retire there for cost issues. Costa Rica is very favorable for ex Pats with large sums of cash so no real issues there except the obvious it is a 3rd world country for the most part, health care is minimal and some of the border areas dangerous.The people I know in Panama have dual citizenship so owning real property is not an issue but in their words the economy and political structure is failing and they may move back. They do not live in the tourist areas but rather the northern stretch of the country in a city called Sona. Belize is full of ex pats but very corrupt and dangerous, the person the wifey knows there is looking to relocate to Grand Cayman he runs a dive boat as his retirement(so not really retired) and has had it with Belize and the corruption. Mexico is big no way. Can't own unless thru a broker currently, health care is non existent unless in the cities and a citizen and crime and corruption rival anywhere else. I have 3 couples that are friends that retired to Guadalajara several years ago(early 50's in age then) and they all want out but can't swing in financially without returning to the work force. Latin America is off the plate for us. Canada, the wifey is from there and is a Canadian citizen. She is from Winnipeg has no desire to return to the prairie or the bitter cold. So that leaves parts of BC or maybe Nova Scotia/Newfie. She's not thrilled with NS or Newfie at all. BC is where we are currently moving her mother from but she lives on the northern edge of the island and the reason we are moving her is her age 80 and the difficulty in life at that age there(health care is difficult to come by for substantial items, the economy sucks there and her Canadian govt pension and Social Security $ don't go very far(she worked in the US for almost 20 years before going back at 58). I love Kelowna and Kamloops areas so those are still on the plate for me, not sure on her. Washington wifey has relatives there in the peninsula and my daughter lives in Mill Creek and is a UW grad. We like it there but the places we like are expensive(Kirkland, Edmonds). We recently went there looking for real estate and came back empty handed as we would need to sell off our rentals to purchase there now or wait and hope the cost does not escalate beyond our retired means. We do not intend on working once retired, have friends that do that and it sucks big time, why retire if you need to work 30 hours a week for $15/hr to live. We will be going back to check out the northern edges of Seattle Metro, specifically Mukilteo and Whidbey Island. We want by the water and want to keep our two rental properties which are paid for as retirement income. Additional we are going to checkout north/central Cali coast Pismo thru Cayucos and Novato north. Have spent quite some time in those areas, love the weather and the pace but again can we swing it all cash without liquidating anything other than my house which will never be paid for(divorce refi). Southern coast both Gulf and Atlantic I like she does not. It's tough, most of my friends are going to Arizona and the wifey hates the heat, she hates the weather where we live in Coto de Caza so Arizona is a big no. I do not like Texas, Houston specifically sorry to people there just not a fan so I won't look there. We may settle on Colorado, Nevada Reno area, or maybe Southern Oregon (Medford Grants Pass) but those are not in the plans today. I guess the point of this tirade is it's tough to beat the USA for retirement for cost and health care, but finding somewhere thats not circling the bowl (IE So Cal) is difficult. I personally wish I did not sell my rental in San Diego in the divorce but could not swing it financially and keep my kids in their schools and the area we live in as that would work for us. BTW we are planning on one million cash each and owning outright our home and having the recurring income of our 2 rentals which currently is 3K per month plus SS. So not sure what that equates in total but way more the 150K. |
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06-29-2015, 11:58 AM | #32 |
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06-29-2015, 03:01 PM | #33 | ||
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But fast forward to today's values and whatnot, my minimum is $1.4M and would have $3.3M. Again, it's just some simple online calculator so I could be mislead, and maybe it's even more if I can FINALLY get another tech job; I'm so sick of settling for unrelated shit jobs to survive off of $2,200 per month after tax.
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06-29-2015, 03:24 PM | #34 |
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Go retire in that remote southeast Asian beach town. We'll see how much you like it when you need medical attention, let along basic-necessities you take for granted state-side.
If you honestly think the US isn't a great place to live, you don't deserve to live here.
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06-29-2015, 03:38 PM | #35 |
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I plan to be a snowbird and retire in cottage country up in northern Canada in the summer, maybe buy a small farm to keep me busy and then somewhere warm like St. Marteen in the winter. Enjoy both the European and Island time feel of the country.
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06-29-2015, 04:37 PM | #36 | |
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BTW....And I would visit you once .
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06-29-2015, 04:39 PM | #37 |
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06-29-2015, 05:02 PM | #38 |
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While I am a long way from retirement, I have been thinking for years now about retiring in a different country. My reasoning isn't for cost of living, but for seeing and enjoying other parts of the world. I've got two potential plans with the first being somewhere in the Caribbean, having a small apartment and a small sailboat to travel around the islands. The second is living somewhere on the Mediterranean coast of Spain, which would allow me to travel and sight see around Europe.
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06-29-2015, 05:08 PM | #39 |
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06-29-2015, 05:23 PM | #40 | |
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You can find a lot of properties by the beach or on a greek island even cheaper.
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06-29-2015, 05:29 PM | #41 | |
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Given a free choice, I'd love to retire to France or Austria or Germany, but I don't see that happening. I suspect we'll stay in IL and just travel a lot. IL is close enough to a 3rd World country anyway.
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06-29-2015, 05:42 PM | #42 | |
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Eventually - I am looking forward to winters in FL and summers in NC Mountains...and travel to wherever sparks my fancy... |
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06-29-2015, 06:07 PM | #43 | |
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Greece is waiting again for financial support from the Euro-zone . All Banks are closed and even mister-cash ...people can't get their money , at least if the banks still have money ! The stock market index of the Euro was today - 2 % down by the financial crisis in Greece , and probably even the oil prices in the Euro are going up ! Hope for better times in Greece...saw some people in big trouble today . The people in Greece are needing help again and quick otherwise....
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06-29-2015, 06:37 PM | #44 | |
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That being said I don't agree with the Troika's (Germany's) stance as they are just getting richer by the day. When Germany pays us the 300 Billion Euro's it owes Greece for forced loans by Hitler, then Greece will pay back the Troika. Also the funding we're getting doesn't go to the Greek people, its basically going back to German and French banks to repay the interest on the loans. Rob Peter to pay Paul kinda deal. Greece shouldn't have joined the Eurozone in the first place. They were not a strong enough economy to begin with. The Olympics in 2004 just compounded the disastrous debt. Greece's soft stance on immigration also has added to the issue. Just visit the shantytown of Omonia in Athens and you'll see what I'm talking about. You can't afford to pay your own people but you'll let in Albanian, Bulgarian, Indian, Pakistani and others to work for peanuts in a large construction black market? I rather they blow up the current system, suffer through hardship for 10 years and come out better for it. Sorry for the rant. Touches close to home.
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