Especially for the countries of Mexico, Colombia, Panama and Niceragua. I can also invest some of the money online in the stock market to have a little extra income.
I live in Latin America. Generally the cost of living is much cheaper here, but depending on where you decide to live will dictate how stable the economy is.
I currently live in Santiago de Chile (population: 6 million/Mediterranean climate). It's about 90 minutes to the beach and about 90 minutes to skiing in the Andes. Chile has the best and most stable economy in Latin America.
I own a 3-bedroom/2-bathroom condo (60 sq. metres), with swimming pool, near the downtown and close to (5 minute walk) two metro stations (Universidad Católica/Santa Isabel). The condo cost about $US 60,000.00
Our monthly condo fees age about $US 60.00.
Our annual property tax is about $US 200.00
The things which are more expensive than in North America are: electronic goods (computers, cameras, gaming systems, etc), gasoline (but it's easy to vehicles with Diesel motors) and books (especially in English).
February 11th, 2009 at 5:16 pm
Right now, be VERY careful about "investing " that money. It might be safer in your piggy bank til Wall Street learns a few lessons. To reside legally in Mexico, you need an FM3 visa. That requires you to have provable income of abut $1500usd a month and the visa must be renewed yearly with proof of income. A single person can live nicely on $1500 a month in Mexico. Many people live on less…depends on how simply you can live. I don't not know the visa requirements of the other countries…you would need to research those on their embassy websites. You can also enter "Colombia, retirement" or Nicaragua, moving to" in the search bar and you should come up with websites.
References :
http://rollybrook.com/how_to_move_to_mexico.htm
http://search.yahoo.com/search?p=Panama%2C+retiring+to&vc=&fr=fptb-yff3k&toggle=1&cop=mss&ei=UTF-8&fp_ip=MX
February 11th, 2009 at 5:47 pm
If you are going to retire in my city, São Paulo, Brazil, you will need something like 5 million dollars to live like a middle-class, heheheheehe. I used to live in San Diego, California, it was much cheaper then here,kkkkkkk.. Asuncion in Paraguay is the cheapest capital in South America…but there is no beach, ssniff snif…but there are nice girls…
References :
February 11th, 2009 at 6:03 pm
I live in Latin America. Generally the cost of living is much cheaper here, but depending on where you decide to live will dictate how stable the economy is.
I currently live in Santiago de Chile (population: 6 million/Mediterranean climate). It's about 90 minutes to the beach and about 90 minutes to skiing in the Andes. Chile has the best and most stable economy in Latin America.
I own a 3-bedroom/2-bathroom condo (60 sq. metres), with swimming pool, near the downtown and close to (5 minute walk) two metro stations (Universidad Católica/Santa Isabel). The condo cost about $US 60,000.00
Our monthly condo fees age about $US 60.00.
Our annual property tax is about $US 200.00
The things which are more expensive than in North America are: electronic goods (computers, cameras, gaming systems, etc), gasoline (but it's easy to vehicles with Diesel motors) and books (especially in English).
References :
Hoping to retire, soon.