Okay! Kick my butt, or push me in he righ direction.

R

Retired@40

New member
Feb 9, 2006
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As a huge snowstorm is heading in my direction right now, I thought this would be a good time to post this situation for dissection. It has been 2 years since I began reading posts @ DR1. The information on this site is very valuable to me. We desire to relocate to the Dominican Republic very soon.
I would like to be the recipient of the profound advice and opinions of the DR1 members. I am not thin-skinned, so don?t worry about hurting my ?new-bee? feelings. ;) Here are the facts I?d like you to consider:
My wife and I retired early at about 40.
My pension is about $2,400.00 US monthly.
I do not want to work for money to live there!!!
(We have rental properties in the US, but do not want to use that income for this endeavor).
We have 2 children still at home with us. (One child is in middle school, and one in high school).
I have traveled to Santiago and the north coast 5 times. (We love DR).
I hope to rent for a few years in Santiago or POP before buying land & building.
Any advice or comment is appreciated.
 
K

Ken

Platinum
Jan 1, 2002
13,884
495
83
US$2,400.00 a month for a family of 4, two of secondary school age, and no desire to do any work to supplement the pension or tap the rental income. If you are making it where you are, stay there and take up a winter sport.

If from that US$2,400 you must pay rent, buy food for family, pay medical expenses including, I would think, some sort of health insurance, send the children to a good school so that they can be competitive when they go to college (assuming that is in the family plan), pay transportation expenses, etc,, etc, you aren't going to make it, Just educating the children to the degree it is even close to what is available to them now is going to take all your money.

Wait a few years, at least until the kids are out of high school, and start now preparing them for the day they will have to finance their own higher education through loans, scholarships and working. Then you can come here and lie under a palm tree waiting for your pension checks.

The DR is cheaper still than a lot of Caribbean islands, but it isn't what it used to be.
 
Hillbilly

Hillbilly

Moderator
Jan 1, 2002
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While $2400 is a princely salary in the DR, it is such only in Dominican terms. This means that schooling would be say 7,000 of your +/- RD$80,000 per month, rent would be in the 12-15000 per month range, and food would be close to $20,000. Electricity could well be 8-10,000 per, Gas $1,000, Telephones 5,000 easy: And we have not talked about vehicle(s), insurance, and other expenses.

For two, it could work. But for four with two boys needing education in English, it is just not feasible. You could easily spend 24,000 a month on their tuition alone....:(:(

Keep visiting. You can visit me here in Santiago and see how we live....

HB :D:D
 
R

Retired@40

New member
Feb 9, 2006
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Ken said:
Wait a few years, at least until the kids are out of high school, and start now preparing them for the day they will have to finance their own higher education through loans, scholarships and working. Then you can come here and lie under a palm tree waiting for your pension checks.
.
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Thanks for the responses. My wife has been very concerned about the costs you guys have mentioned. She wants to wait 6 years. By then the last 2 would have left the nest.
I would like to find a way to relate much sooner.
How much more above the approximate 84,000 pesos do you suggest we need in order to relocate now? Quite frankly, I thought it was enough.
 
R

Retired@40

New member
Feb 9, 2006
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Hillbilly said:
For two, it could work. But for four with two boys needing education in English, it is just not feasible. You could easily spend 24,000 a month on their tuition alone....:(:(
HB :D:D
Click to expand...

Okay. Your response shows that you must have had personal experiences related to this. Based on my long term investment goals, I cannot use more than $2800 US, (98,000 pesos). per month in this relocation effort. So far, the score is Wife:2, Husband:0
I think I know the answer, but ...ahh, never mind I won't even ask.
I guess I will just visit more frequently, & for longer periods of time. While visiting I will do my research and make some more contacts. (Guess I can't sell the snowblower yet).:ermm:
 
M

monster

New member
Oct 16, 2005
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I think that getting along with that pension would have been possible if you own youre own home. My grandmother live in the capital, she has her own home and get along fine with about US $1500. She has a live in maid and a watchman and lives quite comfortably even by US standards.
 
R

Retired@40

New member
Feb 9, 2006
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Ken said:
The DR is cheaper still than a lot of Caribbean islands, but it isn't what it used to be.
Click to expand...
Does anyone have an up-to-date list of expenses for the Santiago/North coast area? I have read more than a few posts suggesting that times have changed. How much have they changed?
Looking forward, do you project that $2400US will suffice for 2 adults to live well in the DR in 6 years?
 
R

Retired@40

New member
Feb 9, 2006
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My score card looks pretty shabby...

monster said:
I think that getting along with that pension would have been possible if you own youre own home. .... and lives quite comfortably even by US standards.
Click to expand...
The score now is Wife:3, Husband:0
She can't imagine renting in the DR, whereas we have never rented in the states. I think renting for a year or two will give us time to decide on a location to build (or buy):tired:
 
R

Rocky

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Apr 4, 2002
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Hey R@40,
You have benefited from some very knowledgeable people so far, and I'm sure you are a bit disappointed at the 3-0 score, so far, but monster has pointed you in the right direction.
Although It is unwise to purchase here without first renting & testing the waters, owning your own home & car, if you can spare the capital to do so, would make all the difference in the world, for making it on your monthly budget.
If you buy a home that you decide you no longer want to live in, you could rent it to someone else, and use the revenue to rent a home elsewhere, eliminating rent from your $2,400 budget.
Assuming you can spare the capital to do this, maybe the score could be 2-1.
 
K

KateP

Silver
May 28, 2004
2,845
6
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As you mention, another option you have is meanwhile coming down more often. Visit the island, get a feel of all the different areas, who knows, maybe you'll like another place better. All depends on personal taste. Maybe look into starting up some sort of business that could be run relatively easily and make that extra cash you'll be needing... From what I see, you have time and have already started the thought process. Now just try to elaborate using all the info you've gotten and see exactly how you want to live down here and what you'd like to do.
 
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Rocky

Honorificabilitudinitatibus
Apr 4, 2002
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KateP said:
Maybe look into starting up some sort of business that could be run relatively easily and make that extra cash you'll be needing... Now just try to elaborate using all the info you've gotten and see exactly how you want to live down here and what you'd like to do.
Click to expand...
This might be the best suggestion yet.
If the OP finds something to do that he truly enjoys doing, it wouldn't matter how litle money he made doing it, as it would keep him happy and help subsidize the budget.
Nobody wants to sit around and turn into a vegetable anyhow, so might as well do something enjoyable, that keeps you in pocket change.
 
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mountainfrog

On Vacation!
Dec 8, 2003
3,146
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www.domrep-info.com
Quo Vadis?

Must it be the Dominican Republic?

I've seen quite a number of people leave this "paradise" for various reasons.

Among them: high costs of living, deteriorating security, mafia competition in their field of business, little protection in law matters.

Alas, the question comes up: Where do I go?
Venezuela (as some did), Panama (which is said to be very retiree friendly)???

m'frog
 
K

Ken

Platinum
Jan 1, 2002
13,884
495
83
Retired@40 said:
Thanks for the responses. My wife has been very concerned about the costs you guys have mentioned. She wants to wait 6 years. By then the last 2 would have left the nest.
Click to expand...

As I indicated in my earlier reply, I agree with your wife. And be thankful you have a wife who shares your dream. We had a thread going a few days ago about how to get the significant other to agree to move with you, and what do you do if the SO doesn't want to move and you do. That is a problem you don't have; she just wants to wait until you have a decent chance of making a successful transition. You are a lucky guy to have her.
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
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yahoomail.com
Most Of The ExPats Who LiveHere,and Post On DR1 Don't Have Kids!

Visit "Hillbilly",then visit me! Hillbilly has "Born & Raised" a "Brood" here,and now has "Houses" full of grandkids!!! I have 4 from High School to diapers!
We own our home,vehicles,and furniture.If you want a US Style English" education for your kids,you should not come,you can NEVER afford it! If you want a good Dominican education that is a different story,but what "Future" do you envision for your kids?
There will always be a good "Reason" not to come!!
You need to decide exactly "what" you are looking for, not only now,but into your and your childrens futures!
You move here on a "Whim" you will soon leave and be a lot shorter of cash than you are now!

RENT,RENT,RENT,RENT,!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! For AT LEAST a year!!

Keep your questions coming,we will do the same with our answers!
Just remember,a single person,young childless couple,or Retired people will NOT have the same wants,needs,desires,or responses to your questions,as those of us in the same family picture as you!
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C

ColoradoGirl

New member
Jan 30, 2005
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I am an ex-pat with a child

Criss Colon said:
Visit "Hillbilly",then visit me! Hillbilly has "Born & Raised" a "Brood" here,and now has "Houses" full of grandkids!!! I have 4 from High School to diapers!
We own our home,vehicles,and furniture.If you want a US Style English" education for your kids,you should not come,you can NEVER afford it! If you want a good Dominican education that is a different story,but what "Future" do you envision for your kids?
There will always be a good "Reason" not to come!!
You need to decide exactly "what" you are looking for, not only now,but into your and your childrens futures!
You move here on a "Whim" you will soon leave and be a lot shorter of cash than you are now!

RENT,RENT,RENT,RENT,!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! For AT LEAST a year!!

Keep your questions coming,we will do the same with our answers!
Just remember,a single person,young childless couple,or Retired people will NOT have the same wants,needs,desires,or responses to your questions,as those of us in the same family picture as you!
cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
Click to expand...

I am an exception I guess. We have a child in grade school and we are very young. Early 30's. We moved here and live VERY well in a beautiful home. We planned our budget with much caution before we moved here and because we were prepared we live stressfree financially.

I am a bit concerned that you would retire with 2 young boys and with only $2400 a month. Excuse me for saying so but that SUCKS! In my opinion, anyone who retires with that and still has a family to support is selfish and wants to live like he is a king on a beer budget. Any decent school here is going to cost you between $4500 - $7000 a year. Not to mention just living expenses alone.

My advise is go back to work while you are still young and make and save some money. $2400 would not even get you moved over here. If you bring a car or any furniture you are looking at well over $5000 for crate, taxes, airplane tickets and what not... You have spent 2 months money worth of income. Please do not tell me you are like so many who plans to rack up all the credit card bills and escape to here and forget about them because you live in a different country? Thats pathetic. Then when your child wants a decent education you cannot help him because of your crappy credit.


Ok... glad you do not have thin skin. Have a great winter!
 
R

Retired@40

New member
Feb 9, 2006
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Point well taken

Rocky said:
Hey R@40,
You have benefited from some very knowledgeable people so far,........ you could rent it to someone else, and use the revenue to rent a home elsewhere, eliminating rent from your $2,400 budget.
2-1.
Click to expand...
Well, your thought is similar to my long term plan. I want to keep my US rentals for a few years, then sell them all after the kids are independent. The monthly residuals are nice, but I don't want to be a distant landlord. We've seen so many problems in relation to that.
I would love to buy rentals in the DR. That has not been in my plans because I have no knowledge of the rental market culture there. Hmmmm...sounds like another good idea to look into!
 
R

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
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www.rockysbar.com
Whatever you decide to do, I have a feeling it will work out for you.
You seem to have 3 digit IQ and a willingness to learn, so good luck to you.
Hope it all works out.
 
R

Retired@40

New member
Feb 9, 2006
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voices of experience

Chirimoya said:
Refreshing to see one of these OPs actually 'listening' to what people say.
Click to expand...
I may be a little over anxious to relocate but, I am no fool. These threads have taught me a great deal over the last two years. I've seen times when you guys were really hard on some poor newbie. At first I would feel sorry for the guy. But in he end, it always turned out that your, (DR1er's), advice was golden.
 
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