- Thread starter Escott
- Start date
3 financial ways to live in the DR
AZB
Santiago is not for everyone.There are plenty of ex-pats who come from big cities in North America and they go to the DR to "live on a tropical island". They dont want to find themselves in the middle of Santiago.I agree that Santiago is cheaper and more convienent when you want to get things done. There is also the absence of "gringo prices as compared to Dominican prices" like you experience on the north coast. You were able to assimilate into Santiago. Many other could not or care not to try. Many ex-pats want to live in the DR but also be a part of an English - speaking community of other ex-pats. This they can find on the North coast but not in Santiago. If an American has a few hundred thousand dollars and wants to buy a condo near the beach in Cabarete and spend the rest of his days laying on the beach, playing golf and eating out in nice restaurants on the North Coast while living in his own community of ex-pats then let him. Dosent sound like a bad idea to me. I think I could live very nicely on the North Coast for $1,500 USD per month (after condo and car are purchased)
Larry
Santiago is not for everyone.There are plenty of ex-pats who come from big cities in North America and they go to the DR to "live on a tropical island". They dont want to find themselves in the middle of Santiago.I agree that Santiago is cheaper and more convienent when you want to get things done. There is also the absence of "gringo prices as compared to Dominican prices" like you experience on the north coast. You were able to assimilate into Santiago. Many other could not or care not to try. Many ex-pats want to live in the DR but also be a part of an English - speaking community of other ex-pats. This they can find on the North coast but not in Santiago. If an American has a few hundred thousand dollars and wants to buy a condo near the beach in Cabarete and spend the rest of his days laying on the beach, playing golf and eating out in nice restaurants on the North Coast while living in his own community of ex-pats then let him. Dosent sound like a bad idea to me. I think I could live very nicely on the North Coast for $1,500 USD per month (after condo and car are purchased)
Larry
What "class" would I fall into?
Let's say I took a break from the rat race and decided to stay or semi-retire in the DR for awhile, assuming the following;
1. Home in suburban SD is paid for
2. Cars are paid for
3. $200K invested locally bearing 10% or $1.6K/monthly as income in USD
4. Household of three
5. Monthly expenses? You guys would know better what to plug in here
At around today's peso rates, my hypothetical monthly income of DOP $60K sounds like it would put me in that dwindling middle class category.
Do-able?
Let's say I took a break from the rat race and decided to stay or semi-retire in the DR for awhile, assuming the following;
1. Home in suburban SD is paid for
2. Cars are paid for
3. $200K invested locally bearing 10% or $1.6K/monthly as income in USD
4. Household of three
5. Monthly expenses? You guys would know better what to plug in here
At around today's peso rates, my hypothetical monthly income of DOP $60K sounds like it would put me in that dwindling middle class category.
Do-able?
Re: What "class" would I fall into?
$60K DR would put you at a point looking up at Lower middle Class. If such a thing still exisits in the DR.
socuban said:
At around today's peso rates, my hypothetical monthly income of DOP $60K sounds like it would put me in that dwindling middle class category.
Do-able?
$60K DR would put you at a point looking up at Lower middle Class. If such a thing still exisits in the DR.
60,000 pesos a month will do it!!
Today! But inflation is about 100% over the last 12 months!
I have no house payment,car payment,or other "Big Ticket" to pay each month.I know how to get the most "Pop For My Peso",and we are a ("House of 10) who get along just fine on 60,000 a month.If I sent my kids to a "First Class English Language School" I would need another 60 thousand!!I have medical insurance where I work.We spend a lot on first class food!
My 2 cents worth.CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Today! But inflation is about 100% over the last 12 months!
I have no house payment,car payment,or other "Big Ticket" to pay each month.I know how to get the most "Pop For My Peso",and we are a ("House of 10) who get along just fine on 60,000 a month.If I sent my kids to a "First Class English Language School" I would need another 60 thousand!!I have medical insurance where I work.We spend a lot on first class food!
My 2 cents worth.CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
If you keep receiving that money in USD, it is a vast sum over here. Less your car payment, its $1825*38 = RD$69350/month.
The average salary here is $6000 - $8000/month. Just keep in mind that the exchange rate is fluctuating wildly, something most americans are not used to. That will change. But by any standards, USD $1800/month will do you really well here.
The average salary here is $6000 - $8000/month. Just keep in mind that the exchange rate is fluctuating wildly, something most americans are not used to. That will change. But by any standards, USD $1800/month will do you really well here.
heeheee
If you are comfortable why would you want to be in the lower, middle, or upper class.
How about being in a class of your own?
Then again that is only me thinking out loud....maybe that wouldn't work for you right?
Maybe you are the type of person who like everybody to know what you have, and what you can show - show off that is!
hehehe. This board really get funny at time. And I find that as I read some of the comments here I lmao. Hehe
If you are comfortable why would you want to be in the lower, middle, or upper class.
How about being in a class of your own?
Then again that is only me thinking out loud....maybe that wouldn't work for you right?
Maybe you are the type of person who like everybody to know what you have, and what you can show - show off that is!
hehehe. This board really get funny at time. And I find that as I read some of the comments here I lmao. Hehe
Why the concern about class?
I'll have approx $2700 US(3500 CANADIAN) plus my wife's income to live off. With 3 children gone, if I can't live off that, there would be something wrong with my budgeting abilities. Money will not give you class, a rich chopo is still a chopo.
I'll have approx $2700 US(3500 CANADIAN) plus my wife's income to live off. With 3 children gone, if I can't live off that, there would be something wrong with my budgeting abilities. Money will not give you class, a rich chopo is still a chopo.
Re: Why the concern about class?
Bob,
We we say "Class" in this thread we are talking about "Economic Class" not "Social Class"
bob saunders said:
Bob,
We we say "Class" in this thread we are talking about "Economic Class" not "Social Class"
Social Class vs. Economic Class
Social Class vs. Economic Class
In Latin America social class is what counts. Social class comes down to a good family name, prestige and the racial/color category you fall into. You must have a very good command of language, conduct yourself properly, look like a gentleman or a lady and act like it if you want to be looked up to and be treated with deference. It does not really matter that your economic level may be low and that your life style is limited by your limited income. Your social class will be much higher than your income and that has an important and positive psychological impact on your self esteem.
Report this post to a moderator | IP: Logged
Social Class vs. Economic Class
In Latin America social class is what counts. Social class comes down to a good family name, prestige and the racial/color category you fall into. You must have a very good command of language, conduct yourself properly, look like a gentleman or a lady and act like it if you want to be looked up to and be treated with deference. It does not really matter that your economic level may be low and that your life style is limited by your limited income. Your social class will be much higher than your income and that has an important and positive psychological impact on your self esteem.
Report this post to a moderator | IP: Logged
About to move to Santo Domingo
So it i want to be able to live at upper middle class for the next 6 months with no worries how much money should i be prepared to take with me?
So it i want to be able to live at upper middle class for the next 6 months with no worries how much money should i be prepared to take with me? That depends on a lot of things. Good to see my thread of 2002 back to life again. Facts are outdated btw.jalene0214 said:
Escott
hmmm, everything but the car...
OK, you can buy food, pay your utility bills and insurance(s) on a monthly income. You may also rent a home instead of owning (as long you don't get reasonable home financing). But what do you do about cars? Face it, if you don't live in Santiago or Santo Domingo you will want to have a car and if so, around these roads, it better be a serious Jeepeta. Jeepetas are expensive but still middle classy. You can't lease a car in the DR (now can you? I mean at at reasonable rate). You could just asume that you start out with a car, but cars do age rapidly around these roads... so, you will have to put money on the side each month for a future new one.
... J-D.
OK, you can buy food, pay your utility bills and insurance(s) on a monthly income. You may also rent a home instead of owning (as long you don't get reasonable home financing). But what do you do about cars? Face it, if you don't live in Santiago or Santo Domingo you will want to have a car and if so, around these roads, it better be a serious Jeepeta. Jeepetas are expensive but still middle classy. You can't lease a car in the DR (now can you? I mean at at reasonable rate). You could just asume that you start out with a car, but cars do age rapidly around these roads... so, you will have to put money on the side each month for a future new one.
... J-D.
Well in 2002 when I originated the thread things did make sense. Now things have changed as they so often do in countries that exist on the fringe or reality.faer said:
Escott