The middle class in the USA are more likely to relocate to DR

indiana16

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Contrary to popular belief, rich people in the USA are not the ones who are more likely to relocate to DR. It is the middle class.

Rich people in the USA are well off. They pay the least in taxes. They can have all types of services readily available for them and they can easily afford the high cost of living in north america. Why would they want to come to DR ?
The poor people in the USA are not heavily taxed due to their low incomes and they qualify for a lot of free benefits and government handouts. Namely welfare,section 8, free health insurance,low cost housing and the list goes on. A poor person in the USA, is too tied up with the welfare system and wouldn't want to give up their free benefits.

The middle class in the USA is the group that carries the largerst tax burden. They are heavily taxed due to america's philosophy of penalizing productive behavior and rewarding non-productive,lazy behavior. The middle class really feel the burden of the high cost of living since they don't qualify for any of the benefits that the poor get. They often need 2 incomes to make ends meet and have had to endure a reduction in lifestyle due to the increase of rents and property value. Specially in a city like New York where rents and mortgages are incredibly high.

For a middle class person,the grass can be greener in a third world country
like DR, due to economic advantages in the form of lower cost of living ,a better lifestyle and a lower tax burden. They can sell the assets they obtained in the US. Namely real estate and purchase less expensive property in DR plus invest the rest of their money profitably. So what stops middle class people from making a move to a third world country? Perhaps it's the fact that many don't mind enduring the economic disadvantages they have in a first world nation or perhaps it's a matter of fear.
 
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Criss Colon

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abe

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CC--maybe this topic can emerge from this post...

I have been wondering about something that this poster has prompted me to bring up.

I live in a very expensive area of Florida--it is obvious to me that the vast American middle class and even the upper middle class is no longer able to purchase a viable retirement home in some of the most desireable areas of the US. And this is only the leading age of the boomer generation in the market.

It seems obvious to me that, in order to be warm in retirement, this demographic slice is going to have to venture out of the states. Witness the enormous boom in Central American retirement communities.

Forgetting some of the ponderings of the poster, why shouldn't the middle class seriously consider retiring in the DR? This topic is being addressed on other forums when they ask about the taxation of American pensions, so what do you think are the prospects that the DR will become another Florida in the next decade?

I know that the usual responses are "things are so different here--traffic, la luz, official and unofficial petty corruption, etc." but you ought to spend some time trying to drive in Florida's popular areas this time of year. The only places that retirees are going to be able to afford soon will be so far inland, for example, that they will spend half the day in their cars trying to see water.

For the retiree who has no cultural or linguistic curiousity, I am sorry to say that there are plenty of expats in the DR who speak little Spanish and seem to get along fine. So, anticipating huge enclaves of American retirees living semi-isolated lives of their choosing in the DR isn't that hard to imagine.

Is it?
 

Jon S.

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In proportion to their percentage of the population, the rich in the US pay the most taxes. As of now and if the data hasn't changed, 2% of the US population (the rich) pay for 36% of the taxes and that's not including what companies pay, then it goes up to 56%.......
 

HOWMAR

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abe said:
I have been wondering about something that this poster has prompted me to bring up.

I live in a very expensive area of Florida--it is obvious to me that the vast American middle class and even the upper middle class is no longer able to purchase a viable retirement home in some of the most desireable areas of the US. And this is only the leading age of the boomer generation in the market.

It seems obvious to me that, in order to be warm in retirement, this demographic slice is going to have to venture out of the states. Witness the enormous boom in Central American retirement communities.

Forgetting some of the ponderings of the poster, why shouldn't the middle class seriously consider retiring in the DR? This topic is being addressed on other forums when they ask about the taxation of American pensions, so what do you think are the prospects that the DR will become another Florida in the next decade?

I know that the usual responses are "things are so different here--traffic, la luz, official and unofficial petty corruption, etc." but you ought to spend some time trying to drive in Florida's popular areas this time of year. The only places that retirees are going to be able to afford soon will be so far inland, for example, that they will spend half the day in their cars trying to see water.

For the retiree who has no cultural or linguistic curiousity, I am sorry to say that there are plenty of expats in the DR who speak little Spanish and seem to get along fine. So, anticipating huge enclaves of American retirees living semi-isolated lives of their choosing in the DR isn't that hard to imagine.

Is it?
There is one major obstacle for seniors who want to retire from the US to the DR. That is availability and costs of medical care. As Medicare specifically excludes payment for medical services rendered outside the US, most seniors would be hesitant to buy property and relocating to the DR for fear of having to go back to the US in case of the inevitable medical set-back. Or worse yet, having to absorb the cost of a medical emergency in the DR.
 

Danny W

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I am 62, and am building a 4 bedroom house 300 yards from a private beach near Sosua. It will cost me approximately 1/4 of what it would cost in south Florida. I can buy a medical insurance policy to cover emergencies in the DR, or go to the US if necessary. I started saving way too late in life to come near the same lifestyle in the US that I think I will have in Sosua. It's not for everyone, but I do agree that it's a viable retirement option.
 

abe

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Retirees to the DR--challenges and solutions?

RE: medical

I too have explored the med evac insurance policies, etc. I understand the lack of Medicare, but I also think that the proximity of the DR to the US, unlike inexpensive Asia countries, for example, means that the Danny W's in the States and Canada will be comforted by an increasing availability of rapid med evac flights to Miami, etc. if and when the demographic critical mass is reached.

Certainly one of the obstacles that is real is that the streets of the DR's towns and cities are not easy places for those with decreasing mobility to get around. I am wondering right now, in addition, when a business is going to start in the DR that retrofits the existing 3-story buildings with simple elevators that can make the upper floors more easily accessible to older people. I would bet that, for $20G US, a simple lift could be installed that would make existing upper floor condos more valuable to an aging population.

Knowing that many designs in the DR have long rear corridors that link all the units with a walkway, I don't think this is too far fetched. Yes, they could be powered by generators, even self contained ones designed into them.

Pie in the sky?? I don't know. But I know that, for example, in New England, the ski condos that offer easy access are rented to Florida snowbirds in the summer because they are on the first floor.

This would appear to be a market that is coming soon--I know that the retiring boomers are a more adventuresome lot than previous generations.

Also if Playa Grande kicks in, the older golfers will come to the North Coast. Blah blah blah.

The DR is certainly not for everybody, but neither is the costly lifestyle of Florida, Arizona, the California desert, etc.

I would love to hear others' views.
 

indiana16

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HOWMAR said:
.Do you really believe everything you say?


Rich people make most of their income from real estate,stock market,businesses these forms of income are not taxed as heavily. It is the middle class that pay the majority of taxes in the USA. There are more middle class people than rich people. Income earned from a job is the most heavily taxed income in america. If you speak to an accountant who is financially literate he will agree with what I just said.
 

CaliforniaGeorge

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Nov 20, 2005
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attractive retiement venue

As a Dominican-American, the prospect of spending at least a portion of the year in the DR after retirement is certainly one of my goals.

I have been reading with great interest the posts of the expats who live in the DR. I must say while all the difficulties of living in the DR have their solutions (acceptance, patience and flexibility are needed) the one concern that makes me hesitant is the lack of responsive emergency medical personnel or paramedics.

What good is it to be Med-evaced to the the U.S. if there is a substantial delay in stabilizing you during that initial and crucial time period immediately following an accident, heart attack, stroke, etc.
 

samanasuenos

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Oct 5, 2005
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I like the Hijacker's Questions!

Good question.

I am far from retirement. Yet I have noticed unreal prices in most of Florida. Where WILL we go when we get old?

Costa Rica is very popular with US seniors - cleaner and safer than the USA, they say.

Mexico also. But it does have its kidnapping "industry". I suspect that the RD is going to grow in popularity with the not quite senior crowd.

I am nowhere near retirement, but already I am aware of the lack of ambulances, for one.

You may call me a sissy, but wait to do so until I finish this rant.

I formerly was employed in the operations center of one of the best international medevac insurers in North America. We decided who got evacd, where, when, why and so on.

I can tell you that without an ambulance, many of you will not make it to a medical provider who can keep your numbers up long enough for the medevac to arrive. Think long, and think hard if you have a tendency to heart disease or any serious ailments.

Sorry to be such a negative.

On the other hand, maybe I should post this in the Business Forum - perhaps a smart expat wants to invest in an expat ambulance service? Not that it would have much ROE at this time. Perhaps later...........
 

indiana16

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Jan 5, 2006
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abe said:
I have been wondering about something that this poster has prompted me to bring up.

I live in a very expensive area of Florida--it is obvious to me that the vast American middle class and even the upper middle class is no longer able to purchase a viable retirement home in some of the most desireable areas of the US. And this is only the leading age of the boomer generation in the market.

It seems obvious to me that, in order to be warm in retirement, this demographic slice is going to have to venture out of the states. Witness the enormous boom in Central American retirement communities.

Forgetting some of the ponderings of the poster, why shouldn't the middle class seriously consider retiring in the DR? This topic is being addressed on other forums when they ask about the taxation of American pensions, so what do you think are the prospects that the DR will become another Florida in the next decade?

I know that the usual responses are "things are so different here--traffic, la luz, official and unofficial petty corruption, etc." but you ought to spend some time trying to drive in Florida's popular areas this time of year. The only places that retirees are going to be able to afford soon will be so far inland, for example, that they will spend half the day in their cars trying to see water.

For the retiree who has no cultural or linguistic curiousity, I am sorry to say that there are plenty of expats in the DR who speak little Spanish and seem to get along fine. So, anticipating huge enclaves of American retirees living semi-isolated lives of their choosing in the DR isn't that hard to imagine.

Is it?

I think the DR will never become a Florida. These 2 places are 2 different ball games. With the cost of living becoming more expensive in first world nations and social security money not being enough to cover expenses. I would say more people will retire in third world nations.
 

indiana16

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Jan 5, 2006
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Criss Colon said:
??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????:cross-eye
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC


what does this mean?
 

susie787

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Jan 18, 2006
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Hi everyone,Iv just joined today and i have a few questions hopefully you can answer for me.I live in england with my partner and four kids,were not house owners but we live quite comfortably and have just returned from the dr.Im hating it being back here and iv always known that i dont want to live here,and now i have found somewhere that i felt at home and it depressing me as to how i change things,am i being unrealistic?I no i would adapt easily but would my kids, there 11 15 17 18.Where do i start?
 

indiana16

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Jan 5, 2006
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k1w1 said:
what does this mean?
It kinda sounds contradictory to me? (or are you simply saying that while 'third worlds' will become retirement destinations, DR will never be one (for whatever reason) ? (or is it that DR is not 'third world' for you?)

ps ???????????????????????????? = WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!? lol


you misunderstood
Hey! no cursing here!!!!
 

indiana16

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Jan 5, 2006
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susie787 said:
Hi everyone,Iv just joined today and i have a few questions hopefully you can answer for me.I live in england with my partner and four kids,were not house owners but we live quite comfortably and have just returned from the dr.Im hating it being back here and iv always known that i dont want to live here,and now i have found somewhere that i felt at home and it depressing me as to how i change things,am i being unrealistic?I no i would adapt easily but would my kids, there 11 15 17 18.Where do i start?

susie you should start a new thread.
Because you're asking a question on someone else's thread