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Thread: Places to Retire on Social Secuity Alone

  1. #1
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    Default Places to Retire on Social Secuity Alone

    I came across this page on places to retire on Social Security alone, the top 5 are detailed [DR is not one of them]. I thought it might interest some of us, they say the average SS check is $1200 - times 2 [ $2,400 for a couple] I think DR should rank right up there.

    Has anyone lived DR *AND* in the places they detail, and if so, how do you compare them with living in DR?

    places-to-retire-on-social-security-alone: Personal Finance News from Yahoo! Finance

    AE

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    Quote Originally Posted by AlterEgo View Post
    I came across this page on places to retire on Social Security alone, the top 5 are detailed [DR is not one of them]. I thought it might interest some of us, they say the average SS check is $1200 - times 2 [ $2,400 for a couple] I think DR should rank right up there.

    Has anyone lived DR *AND* in the places they detail, and if so, how do you compare them with living in DR?

    places-to-retire-on-social-security-alone: Personal Finance News from Yahoo! Finance

    AE
    Have not lived in any of those other places, but as 1200us is around 40,000rd depending on the exchange rate. there are a whole lot of people living on much less than that here. so would depend on your lifestyle.

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    One thing is for sure, you are going to be seeing a lot more people ask this question in the future.

    I have heard that Ecuador is one of the cheapest in Latin America to live, followed by Bolivia.

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    I haven't been to any of those places, but Michoacan is suppose to be one of the hot spots in the Mexican Drug Wars. And that's not drug wars like Nancy Reagan "just say no," but a dozen bodies found in a mine with their heads cut off drug and more killed there than in Afghanistan kind of drug war. I hear one of the drug lords keeps tigers and feeds his enemies to them once in a while...

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    Not surprising to see Panama on the list. There is a big advertising push here in the US targeted to the old.

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    Quote Originally Posted by AlterEgo View Post
    I came across this page on places to retire on Social Security alone, the top 5 are detailed [DR is not one of them]. I thought it might interest some of us, they say the average SS check is $1200 - times 2 [ $2,400 for a couple] I think DR should rank right up there.

    Has anyone lived DR *AND* in the places they detail, and if so, how do you compare them with living in DR?

    places-to-retire-on-social-security-alone: Personal Finance News from Yahoo! Finance

    AE
    That article didn't really appear to be the result of any "study". If it was, Mexico wouldn't even be on the list and the DR definitely would be. Every ex-pat I knew in Mexico has moved back (most to FL or TX).

    Mexico has a level of "scary" about it that I've never seen or heard of in the DR. Mexico may not be quite as "lawless" as the DR but there the "Law" is just another street gang. They're not even the biggest or best armed of them. Since the drug bottleneck experienced in Mexico at the start of the past decade ex-pat's have pretty much had to live like "ghosts", maintaining the lowest possible profile and relying on trusted locals to do everything for them from shopping to paying the bills. I'm talking about Central and South Central Mexico, not the border or seaside cities. They used to be ex-pat paradise. Besides the drugs, South Central Mexico has their own problems dealing with the repressed Zapotec population. They are not happy.

    ....and how in the heck did China make their list?

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    Default Actually, the best place to retire...

    Quote Originally Posted by AlterEgo View Post
    I came across this page on places to retire on Social Security alone, the top 5 are detailed [DR is not one of them]. I thought it might interest some of us, they say the average SS check is $1200 - times 2 [ $2,400 for a couple] I think DR should rank right up there.

    Has anyone lived DR *AND* in the places they detail, and if so, how do you compare them with living in DR?

    places-to-retire-on-social-security-alone: Personal Finance News from Yahoo! Finance

    AE
    on social security alone will be the country that wins the the right to provide Medicare services and then successfully promotes it.

    With current budget constraints and the boomers retiring in ever greater numbers for at least the next 10 years and with all those people living longer, the system will be severely tested.

    If only the DR government could discard the live for today mentality and think outside the box...If only.

    Because of their proximity to the US, I can envision Mexico and Cuba someday being perfect candidates for this sort of thing.....but, for various reasons, certainly not now. The DR could well be in the running if such an opportunity would become available, but that takes vision, planning and lobbying now.



    Respectfully,
    Playacaribe2

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    great Topic,
    thanks for bringing such up and read opinions on it, AE.
    i never lived in any of the countries to compare,
    Ecuador is very cheap, yes Robert, and they serve the worst food of all places i ever visited, but great fishing around the Galapagos far offshore. would be a place of interest for myself.
    Mexico i find to unstable,
    you can live comfo in foreign residencies, but i wouldnot recommend it outside of those areas, prisonlike.
    China i never travelled.
    Panama brings back good memories, would not have a prob to stay there.
    with $1.200.- a month from guranteed check/deposit here in the DR a comfo retirement is possible, yes. no need to stay within a gated community, but of course available if wanted, all around the year climate very fine(don't ask me about the rain at my place right now, it's not the norm).
    i will be just 46 this september, plenty of time to choose and get ready, lol,
    but at this moment the other locations could not convince me to move for retirement, not moneywise nor weatherwise nor safety or comfowise.
    looking forward on opinions and first hand experience on this topic.
    Mike
    Mike
    www.MikeFisherPuntaCana.com
    [email protected]
    Punta Cana/Cap Cana/Dominican Republic
    Mike Fisher Facebook Group on

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    Cheap living is good, but quality medical care becomes very important as one gets older. Not sure if one wants to risk a shorter retirement/life expectancy due to lack of medical services.

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    Quote Originally Posted by playacaribe2 View Post
    on social security alone will be the country that wins the the right to provide Medicare services and then successfully promotes it.

    With current budget constraints and the boomers retiring in ever greater numbers for at least the next 10 years and with all those people living longer, the system will be severely tested.

    If only the DR government could discard the live for today mentality and think outside the box...If only.

    Because of their proximity to the US, I can envision Mexico and Cuba someday being perfect candidates for this sort of thing.....but, for various reasons, certainly not now. The DR could well be in the running if such an opportunity would become available, but that takes vision, planning and lobbying now.



    Respectfully,
    Playacaribe2
    good points,
    Medicare services are a top priority point fo retirees,
    it is in retirement ages when we most need such services.
    til today the leak of such here is the reason why my parents enjoy vacations but do not consider a move.

    the 'live for today' mentality should not bother,
    it is something done/thought/lived by each individual on his/her own, the DR would not bother if you want to spend your retiree time here with different priority points in mind.

    yes,
    the proximity to the US and also to Canada is a keygoal.
    in case of Gubmint influences on the every days life of a retiree down here i would not worry much, the folks are welcome and not bothered.

    from the foreigners i know down here who spend most of their retirement time on own properties/condos here in the PC area the ones who are unhappy are til now the ones who overdid it with their investments, like a too big/expensive/costy Condo/Villa, tried to make extramoney with sidebusinesses who finally been not successful etc etc.

    the ones who moved down here with their Condo paid or living in a rental appropriate to their monthly retirement income do by my observation very well and are happy with their decision of destin.
    Mike
    Mike
    www.MikeFisherPuntaCana.com
    [email protected]
    Punta Cana/Cap Cana/Dominican Republic
    Mike Fisher Facebook Group on

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