I'm liking the idea of retiring to Ecuador or Panama... Live like a king for $2000 a month.
I'm thinking I'm past the time of life where I have any desire to learn another language. In my 20s and living in Germany in the US Army, I started to pick up German reasonably well. Now that I've hit 60, I better understand the reality behind what psychologists mean when they write/comment about "brain plasticity."
You dont have to, many of them speak english.
Ecuador-The World’s Number 1 Retirement Haven
From the quaint town of Cotacachi to the vibrant capital, Quito, from Salinas by the sea to the peaks of the Andes, Ecuador’s diversity is a key part of the massive appeal that sees it regain the coveted top spot on this year’s retirement index.
Although prices have risen slightly in recent years, Ecuador’s real estate is still the best value you’ll find anywhere.
This is bolstered by the generous array of benefits the government has afforded to retirees. Over-65s get discounts on flights originating in Ecuador, as well as up to 50% off entry to movies and sporting events. Discounts are also available on public transport (50%) and utilities, with the option of a free landline if you purchase a property.
And the cost of living is low. “You can get a lot more here for your dollar than you could in the U.S. or Canada,” says IL Ecuador Highlands Correspondent Wendy DeChambeau. “A doctor’s visit will set you back around $10, while a main course in a restaurant can be had for as little as $2.50. The bus trip from Cotacachi to Otavalo will cost you 25 cents. For big-ticket items like real estate, you can get a lot more for your dollar here than in the U.S. A couple can live well here on $1,400 a month, including rent.”
You’ll find world-class medical facilities in big cities throughout the country, and you can catch direct flights to and from the States in Quito and Guayaquil. Good Internet is more readily available than ever. Public transportation is so efficient that many expats report not having to even buy a car. And with Ecuador having one of the most robust economies on the continent-its Gross Domestic Product has grown an average of 4.54% a year since 2000-it is likely that this infrastructure is only going to improve over the coming years.
A couple can live well in Ecuador on $1,400 a month. © Hugo Ghiara
A couple can live well in Ecuador on $1,400
a month. © Hugo Ghiara
The steadily growing expat population makes it easy to integrate, as do the friendly locals. “Many of the locals are somewhat bilingual, and they are very welcoming toward North Americans,” says IL Cuenca Correspondent Edd Staton. “We also have a steadily growing expat community here.”
When it comes to entertainment, Ecuador offers a diverse range of options. Biking, fishing, zip-lining, hiking, and rock-climbing are all popular and readily available. The country’s location affords it access to a staggering variety of environments, from the vast Pacific Ocean (including the Galapagos Islands, one of the world’s most important ecological sites) and the Amazon to the mighty peaks of the Andes. This diversity ensures you’re guaranteed to find a climate that suits you down to the ground.
The country’s heritage is writ large in its culture, fusing indigenous influences with various European and African peoples who have settled there over the centuries. This multitude of cultures inevitably influences Ecuadorian cuisine, which is as varied as it is delicious and affordable, with new and reputable restaurants springing up all the time.
As many expats note, Ecuador delivers fresh experiences every day, making it the perfect location for someone in search of a happy and fulfilling life overseas.
Personally, I would be bored living in a foreign country. We have visited many other countries, and after a few days, its all the same.
Getting out of the tourist areas, and into the residential areas is another world. We visited with some expats in Cancun that live in a small community north of the main city.
Their RV's are sitting on rocky desert ground with artificial palm trees at the door.
He said it was cheap living, and they go to the beach on occasion, and visit with others in their community. They have card games, make hootch and wine, and basically revel in the cheap living.
That's not how I'm going to spend the rest of my days. Might be OK for some, but not me.
Getting out of the tourist areas, and into the residential areas is another world. We visited with some expats in Cancun that live in a small community north of the main city.
Their RV's are sitting on rocky desert ground with artificial palm trees at the door.
He said it was cheap living, and they go to the beach on occasion, and visit with others in their community. They have card games, make hootch and wine, and basically revel in the cheap living.
That's not how I'm going to spend the rest of my days. Might be OK for some, but not me.
Theres nothing you can do here that you can't do there (with the exception of a firearms hobby, that I dont know about) you can fish, hike, travel and sight see, gamble, play on the OSA forum from your laptop in a coffee shop...lol, buy some land (cheap) and raise animals, garden...etc. Only you dont have to put up with winter cold (I am hating winter the older I get) nor the blistering heat or humidity that we have. Also my allergies would go away. If you want to hunt, just jump on that flight to new mexico (at the 65% discounted rate) and kill an elk, do some snow skiing while your there, run to OK and have christmas with the grandkids and fly back.
I've been considering all the pros/cons but may have more to consider.
Theres also the option that I could be a snowbird and just winter over there and rent...or summer over there...lol
But, I don't have to live in a foreign country to do any of that. That's the life I'm living in the US!
I'm all for a more temperate climate though. I don't mind the cold, its the heat that kills me. After so many years working in temps well over 120 degrees in a power plant, I'm ready for some cooler weather for the rest of my life.
Its not cheap, but Ketchikan Alaska rarely gets below freezing in the winter, and never gets past the 80's in the summer. One has to deal with the rainfall though which is a drawback.
Great hunting, incredible fishing, Boating, etc.
All of this pre-supposes a functional/effective international banking system with the ease of transfer of funds and exchange for local currency. I'm certainly not a doom-and-gloomer in that area nor do I have any special insight/knowledge but I'd certainly acknowledge that as a potential risk factor to your standard of living. It certainly bears some thinking that might result in a Plan B.
Some Central American countries and I believe Costa Rica offers tax incentives to deposit funds into their banking system. Mexico has Santander and another bank (dont recall) that are tied directly to BOA and another US bank (dont recall again). They do have restrictions on how much you can transfer.
The point was you wouldnt/shouldnt get bored if you can do all the things you do now over there and live on half as much money, enjoy even tempered weather and for me, rid my horrible allergies that I have lived with for 46 years now.But, I don't have to live in a foreign country to do any of that. That's the life I'm living in the US!
I would really enjoy those evening walks/horse rides along the beach too. That never gets old to me.
