Can I live well on 20k?

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tngold

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Jul 15, 2003
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I am formulating a plan to possibly move to the DR and would like the opinion of a few people that actually live there. If I buy a house for cash and eliminate that expense do you think I could live decently on an average of US 20K per year? I am fairly ignorant on expenses such as electricity, phone and cable. I do not need to live in luxury but I would like to be comfortable.
 
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suarezn

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Feb 3, 2002
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The topic has been discussed before, but IMO if you have the housing expenses already covered you can live very well with 20k a year. Particularly if it is just you and as you said before you don't need extreme luxury. At current prices 20k a year or 1666.00 / month is about 90k pesos / month. You will be in the upper 5% of the peso earning population in terms of income...
 
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tngold

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Jul 15, 2003
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Thanks for the reply I have always been able to live on less then that in the states except when I decide to buy a new car or something so I figured that would be suffice in the DR. I am actually going to budget 25K a year just in case but it's nice to know I can probably get by on less. I knew this question had probably been asked before but with inflation out of control I wasn't sure if the answers had changed. I do not plan on having a car so that will be another expense that I want have to worry about.
 
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suarezn

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Feb 3, 2002
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Inflation is only affecting those who make pesos. People making USD's are actually spending less (see a recent comment by Timex). Also if you're going to be mobile then you want to make sure you got transportation covered. Buy a used car/jeep for about 10,000 (Honda CRV or Toyota RAV 4) are my choices. Don't buy new and don't import from the US.
 
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