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Thread: Living in the DR

  1. #1
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    Default Living in the DR

    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.

  2. #2
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    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'

  3. #3
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    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.

  4. #4
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    Quote Originally Posted by vida View Post
    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.

  5. #5
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    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.

  6. #6
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    Quote Originally Posted by sweetdbt View Post
    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.

  7. #7
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    Quote Originally Posted by jaymack1215 View Post
    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!!

  8. #8
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    With those numbers you are crunching you're definitely looking to live quite well possibly extravagant considering your surroundings in the DR!!!

  9. #9
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    The HD internet is your only problem.

  10. #10
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    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!

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