- Thread starter shinobi16
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What Kind Of Budget To Live In The Dominican Republic
miguel said:I will only tell you of what I know since I do not live in the DR.
I rent my home in SD, on Charles De Gaulle, for 5,500 pesos(thanks God that the lease is up in a few months and I will be able to raise the rent). Nice 3 bedrooms house, one car garage, in a working class neighborhood but with a few middle class people. Very quiet Urbanizacion.
I pay 4,000 pesos a month for my brother's maid. You can get one for less or for more depending on what you want them to do.
Your biggest expense will be your daughter's schooling and buying a car.
Give us an average of how much your budget is(per month). Don't tell us the exact amount, just an average.
Monthly budget will be around $3,800 dollars.
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shinobi16 said:Monthly budget will be around $3,800 dollars a month.
Sorry, but my computer screwed up and the same reply was posted more than once.
Si!
You can absolutely make it!!!!!!. That's about 106,000 pesos, of course that you can make it.shinobi16 said:Monthly budget will be around $3,800 dollars.
miguel said:You can absolutely make it!!!!!!. That's about 106,000 pesos, of course that you can make it.
Do you or anyone else know how much should I expect to pay for a medical insurance policy for the three of us?
I'm guessing that most of the people that come to the DR from the US with USD$200,000 haven't actually saved that money. The money probably came from the sale of their home. In most parts of the US, housing prices have more than doubled over the last 10 years.Voyager said:By the way, I am constantly amazed at how rich people in the US are!!! To save and be able to bring US$200,000 in cash is totally impossible for most people living in my native country = Sweden. When my father died, his lifetime savings was equal to US$18,000. But on dr1, I read time and again about US citizens bringing hundreds of thousands of dollars!!! My God! I am really jealous... It is obvious that I was born in the wrong country!
If that same person was forced to retire in the US, they would probably die broke. Social Security would barely pay the bills and unless they worked for a large corporation or the government and has a pension or post-retirement supplemental insurance, their post retirement medical costs would eat into a large part of their budget. That's why we now have "reverse" mortgages in the US.
shinobi16 said:I was really surprised when I saw the $75,000 figure. Hell, a lot of people live a confortable live here in the US on those numbers. We are not big spenders, very humble family, don't go out to clubs or expensive restaurants, we prefer the local food. Eat out maybe twice a week. No family or friends to entertain. Will like to have a maid and our #1 priority is our daughter's education. My passion is gardening but will like to rent before deciding where to buy, so for now I don't have to worry about that. A round of golf maybe twice a week and a membership to a gym is important to us. Where should I invest the cash till I decide to buy a house?
Take half and put it in a few different banks in CD's in Pesos, split the other half up in CD's in USD and/or EUR. That way you can spend the pesos you earn in interest, and save your USD income until you are ready to do something with the cash.
rellosk said:I'm guessing that most of the people that come to the DR from the US with USD$200,000 haven't actually saved that money. The money probably came from the sale of their home. In most parts of the US, housing prices have more than doubled over the last 10 years.
If that same person was forced to retire in the US, they would probably die broke. Social Security would barely pay the bills and unless they worked for a large corporation or the government and has a pension or post-retirement supplemental insurance, their post retirement medical costs would eat into a large part of their budget. That's why we now have "reverse" mortgages in the US.
You got that right.