Living in the DR

jaymack1215

New member
Sep 23, 2010
3
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0
I plan to retire in about nine years. I have 2 options, retire then and draw about 3000 US per month retirement and spouse will draw about the same. I will also receive about another 1100 a month in military pay. So together we will make about 7000 to 7200 per month from retirement. If we both stay and work 3 to 5 years longer, we will leave with a lump payment of about 300,000 to 500,000 US Dollars along with the stated monthly retirement pay. We will both be 60 at that point and all kids will have finished college except one will be 9 to 14 depending on when we retire. If we retire at 55 we will start a small business of our own instead of getting the lump payment. How well will we be able to live in the DR with a 9 year old on 7200 monthly. We don't have to live extravagant, just safe and comfortable. We now live in a 3 bedroom home on 1/2 acres with a pool and 750 square foot bonus room out back which is my "man cave". How feasible will it be to live in a 3 bedroom (at least 1800 square ft), with a pool, 2 vehicles in a safe comfortable environment and still be able to host a lot? We will need high speed internet, HD and a large yard.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
You can live quite well on a lot less!

It is probably not the smartest idea to advertise your personal finances on a public forum.

Welcome to dr1.

t'
 

vida

New member
Mar 18, 2010
122
4
0
Yes, you can live very well. However, money doesn't change everything. You are still living in a society with many problems. Please take the advice of others and live here for long periods of time before you decide to move here. I would also suggest reading DR 1 everyday. I would also suggest that you read Dominican Today on the internet everyday as well as Spanish internet sites of Diario Libre and Listin Diario or other local internet newspapers. You need to get a real feel for what things are like. Best of luck on your preparation.
 

sweetdbt

Bronze
Sep 17, 2004
1,574
70
0
Yes, you can live very well. However, money doesn't change everything. You are still living in a society with many problems. Please take the advice of others and live here for long periods of time before you decide to move here. I would also suggest reading DR 1 everyday. I would also suggest that you read Dominican Today on the internet everyday as well as Spanish internet sites of Diario Libre and Listin Diario or other local internet newspapers. You need to get a real feel for what things are like. Best of luck on your preparation.

If you "live" somewhere for "long periods of time" haven't you "moved" there? Just sayin..........

Doing research is great advice, and it is also generally recommended to rent for at least a year before buying.
 

puryear270

Bronze
Aug 26, 2009
935
82
0
Financially, you'll do fine.

Before I give any unsolicited advice, may I ask you why the DR? We all have different reasons.

Are you or your wife of Dominican heritage?
Did you come here on vacation once and fall in love with the place?
How much have you visited here?
Do you know anyone here or have relatives here?
Are you fluent in Spanish?

If it were me, I'd stay the extra few years to get the lump sum, and then invest that in a small business to keep me occupied while here and not worry if it makes money.

Also, search on this site and you'll get recommendations on private schools for your child. You'll probably want to take that route, and there have been a lot of threads discussing the topic.
 

puryear270

Bronze
Aug 26, 2009
935
82
0
If you "live" somewhere for "long periods of time" haven't you "moved" there? Just sayin..........

Doing research is great advice, and it is also generally recommended to rent for at least a year before buying.

LOL. Good point.

I think they mean to stay here in the DR for a month or two in a furnished apartment situation before selling everything in the states and forwarding all mail here.

For example, the OP and spouse could work out an agreement with their current employers to take more time off over the next two years and spend that time spending time here.
 

baby bori

New member
May 18, 2010
239
18
0
I plan to retire in about nine years. I have 2 options, retire then and draw about 3000 US per month retirement and spouse will draw about the same. I will also receive about another 1100 a month in military pay. So together we will make about 7000 to 7200 per month from retirement. If we both stay and work 3 to 5 years longer, we will leave with a lump payment of about 300,000 to 500,000 US Dollars along with the stated monthly retirement pay. We will both be 60 at that point and all kids will have finished college except one will be 9 to 14 depending on when we retire. If we retire at 55 we will start a small business of our own instead of getting the lump payment. How well will we be able to live in the DR with a 9 year old on 7200 monthly. We don't have to live extravagant, just safe and comfortable. We now live in a 3 bedroom home on 1/2 acres with a pool and 750 square foot bonus room out back which is my "man cave". How feasible will it be to live in a 3 bedroom (at least 1800 square ft), with a pool, 2 vehicles in a safe comfortable environment and still be able to host a lot? We will need high speed internet, HD and a large yard.

Jaymack seriously ?????? You are aware I believe that monthly stipend you have estimated and/or planned is WAY WAY MUCH MORE than about at least 65-70% of monthly family income in the DR think about!!!! US$7200 times RD $37pesos per US dollar= RD$266400 pesos nice number right?? Depending if you want to live it up live like a king or just wanting to have a comfortable middle class lifestyle will answer this question for you. In the town you plan to relocate to go around and talk with local residents ask them what how and what type of lifestyle you could live off RD$266400 pesos monthly they'd want to be invited to dinner at least once a week with alcoholic beverages included!!!! RD$266400 pesos monthly you kidding me so many millions of people in the DR and even the US, Europe, or Canada would be considered blessed to have that monthly stipend to cover their expenses and we have you asking if this would be enough to just make ends meet!!!! Reality check sir feel blessed and grateful to be in your position. Also why the DR??? Is your wive's family from there?? If so get ready to open your wallet more often after they're aware you're living in the country particularly if they know you have good amount of money on that monthly stipend in the DR you're considered wealthy don't believe me ask the other posters here in this forum!!
 

baby bori

New member
May 18, 2010
239
18
0
With those numbers you are crunching you're definitely looking to live quite well possibly extravagant considering your surroundings in the DR!!!
 

bostonsteve

New member
Oct 24, 2010
13
0
0
do not advertise how much money you are able to throw around- first of all, it makes the existing expat crowd look bad. secondly, your child may be kidnapped and held for ransom! Not kidding here!
 

bostonsteve

New member
Oct 24, 2010
13
0
0
Even though you have the guise of anonymity as a poster, do not think that there are not creeps out there- i have seen very bad things happen to people that are too open with their financials- i have first hand knowledge, not in DR but other Latin American locations.
 

Bob K

Silver
Aug 16, 2004
2,520
121
63
He is talking about 9 years from now. Who knows what living here will be like or cost that far in the future??????

Bob K
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
2,195
113
Punta Cana/DR
www.mikefisher.fun
your 50"Plasma will cost around 700 bucks to ship it in, but who the heck wanna have a Plasma Todays??
they are outdated since long, LED is the King, Plasmas cost nothing.

to the OP,
Bob K been the only one who realized that the OP is "touching base" for a 9!!! Years away retirement??
come on, with 7KUS$ monthly a Family can live by Today's standards here on the Isle very very comfo, very most US Citizens would dream of that high monthly Budget to manage their monthly probs over there.
the decider to retire in 9 years or the maybe 3-5 years later will finally be your Babychild, which I guess is Today still wearing Pampers, 1 year oled?? around that?.
in 9 years or closer to that date You can check out what DR Schools are really worth in case of High Quality Education, then You can decide to come over with Your Chld in such Top island School or to do the extra 5 years of work and retire later when the Child nearly finishes school.

a good in advance considered Plan is always a good thingy, but 9-14 Years in Advance??, that's way too much to speak in details about anything.

Mike
 

woofsback

Bronze
Dec 20, 2009
706
233
0
you're considered wealthy

the fact that you can get on a plane and come to the Dr. makes you rich
NEVER advertise that you are even more richer than they thought......

temptation is a disease to those who don't have and want :)
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
2,195
113
Punta Cana/DR
www.mikefisher.fun
If the Wifey is from the DR she will not have a household to move, her's should already be here, ha ha.
it is the Residents Who can make a one time household Move, there's some Timelimit on that, If I remember right You can move the household during the first 2 years of residency.

Mike
 

johnny

Bronze
Feb 8, 2003
907
74
0
hausenland.com
I plan to retire in about nine years. I have 2 options, retire then and draw about 3000 US per month retirement and spouse will draw about the same. I will also receive about another 1100 a month in military pay. So together we will make about 7000 to 7200 per month from retirement. If we both stay and work 3 to 5 years longer, we will leave with a lump payment of about 300,000 to 500,000 US Dollars along with the stated monthly retirement pay. We will both be 60 at that point and all kids will have finished college except one will be 9 to 14 depending on when we retire. If we retire at 55 we will start a small business of our own instead of getting the lump payment. How well will we be able to live in the DR with a 9 year old on 7200 monthly. We don't have to live extravagant, just safe and comfortable. We now live in a 3 bedroom home on 1/2 acres with a pool and 750 square foot bonus room out back which is my "man cave". How feasible will it be to live in a 3 bedroom (at least 1800 square ft), with a pool, 2 vehicles in a safe comfortable environment and still be able to host a lot? We will need high speed internet, HD and a large yard.

Just for curiosity, will like to know how many private message have you recieved already.
 
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jaymack1215

New member
Sep 23, 2010
3
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0
Thanks for all the advise. Thanks for the concern about my family's safety. I doubt if anyone would track me and wait on me for 9 to 14 years. Actually I work in the computer security industry and I won't have any problems erasing myself electronically before I come there. I have over 20 years experience with the military and I think I can handle myself in almost any situation. To the poster who asked about private messages, only 1. I know the standard of living is different in different parts of the world. I have been to some of the poorest conditions in the world before. I have worked hard for this small amount of retirement money. To some it is pennies. I thank God for mine and just want to live comfortable. I "live it up" each day so I can slow down and enjoy retirement later. Once again, Thanks for the advise.