Retirement solutions to the south
Vicinity of Quito Ecuador
Those of us who "make it" in an entrepreneurial career are well advised to consider proper retirement destinations to spend their later years. International living is a great niche! It has been commonplace to desire to move to somewhere like Ecuador or Central America as a solution for a retirement home. There have been many incentives put forth by real estate consortia and the international living industry.
Liberal tax allowances for "expats" geared to encourage emigration have been introduced. The relative lesser expense of housing, and the market for food and other consumables has been touted.
The country of Costa Rica broke ground for the US retirement industry as a pioneer in the 1970s. I have often pictured it as a United State situated in the heart of central America. Since then Nicaragua, recovered from the Sandinista debacle. Panama changed with the end of the Noriega crisis and the change in our canal priorities. All factors have made these countries desirable as retirement havens.
In 1999 The Panamanians were restored to ownership status of the Canal Zone. The Canal is no longer as critical to the American trade.
- There are a lot more heavy lift aircraft like the Chinook helicopter that can easily overfly the isthmus without engaging in an overland route
- Belize, Honduras, and El Salvador have made great strides on improving their images. Some latest developments such as the pacification of Colombian drug lords by subsidizing alternatives to the coca industry has also occurred. This has helped the retirement solution jump from the isthmus to mainland south America. It has already jumped to Ecuador as I mentioned and Peru is now making overtures. Other countries in South America such as Brazil and Argentina/Chile also offer alternatives as they realize the retirement possibility bandwagon they can offer the US!
- Nicaragua offers a water based alternative installing locks at two large lakes which takes away any incentive on panama to retain as much importance in their waterway.
All is not paradise everywhere. In Mexico there are many idyllic areas but there is also intrusiveness from local drug kingpins especially closer to the source of US drug markets/.
It's another story in the other direction. Venezuela has become a number one corrupt state first under Chavez and now under Maduro. How can a country that can't maintain its own economy offer solutions to emigration?
This is essentially a regional retirement prospectus for much of the western hemisphere.It is hoped this will provide enlightenment prior to jumping into international living real estate investments.
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Recent Comments
46
Very informative Mike.
I hear that the Ajijie, Lake Chapal area of Mexico (1 hr South of Guadalajara) is a great place to consider. Twenty percent of the people are American or Canadian; average temperature in winter is 70 degrees F, summer 90 degrees F.; lots of English; safe; good health facilities; and costs about $1,500/month to live comfortably.
I will be checking it out soon.
Regards,
Roger
... super suggestion, Roger --
... might be an idea to check the drinking water quality as well ...
... all the best, cheerio... 😊
I will for sure, but am thinking 20,000 older expats who have been living there for years wouldn't stay if the drinking water wasn't healthy.
Ecuador is wonderful and we love it.
That being said, nobody drinks the water from the taps. Everyone buys those big blue 20 gallon containers, throughout the country. That is a full-time business for many here.
However, most all the fruits and vegetables are organic and inexpensive. Health and dental care also inexpensive and excellent. The people are warm and friendly and welcome the expats. It is also safe. There are areas you would not venture into in a couple of the big cities at night. No different than any American or European city.
If it were not safe to live here, we wouldn't. We have been expats in many other places in the world, including the Caribbean, for many years so we feel comfortable living in another culture. Learning Spanish is also essential to helping one understand the people and their culture.
Having said all that, living as an expat is not for everyone and some that try it don't like it and go back.
Hope this gives you some more insight. Happy to answer any questions in an honest and authentic way.
All the best,
Colette and Philip
Thanks for taking the time for your full response. I have Ecuador on my list.
Regards,
Roger
Great post! We love it down here in Ecuador. As Mike says, there are many things to consider.
Feel free to ask any questions!
Colette and Philip
I haven't seen medical care mentioned--that is something that might need a little investigation, too.
Medical and dental care is excellent down here in Ecuador. Many top-notch medical schools here and also many train in the UK, Canada or USA.
Medical and dental costs are very inexpensive, as are medications.
It is cheap, but also excellent. Our dentist is from here, married to an American, but trained here and also did advanced dentistry for years in the UK.
Malaysia and Thailand are moving ahead. Myanmar is playing catch up. Indonesia has so much but has a lot to do to get it together Americans are astounded at the changes in Vietnam!
I live sins 2000 in Asia, first 5 years in Thailand and for the last 13 years in Laos.
Relax lifestyle
There seems to be a real move to retiring to climes that offer a real lifestyle environment. The industry that we are involved in definitely offers opportunities to take our shows on the road, thereby offering some different place of residence outcomes.
⭐️ most are looking for and interested in 'sun 'n fun' type destinations to 'retire' so to speak -- however, many of these places lack 'good governance' and not necessarily 'safe' for retirees who present themselves as well-off relative to locals ...
here's a story:
... a number of years ago -- met a lovely young mother at a social gathering -- she and her husband and two school age children left their ocean villa mansion off the Baja -- i asked her if that was their dream home (which they built from scratch and lived in for over four years) why on earth would they leave it -- she quietly said in confidence -- 'couldn't get food' -- meaning that the villagers became less than cooperative for whatever reason ... she couldn't quite understand it ... as they were 'apparently' well-known and thought 'well-liked' by the locals ...
...that is a first-hand account -- so go figure, eh? ...
anyway, a cautionary tale of re-location to a foreign land ... and then, having to return ...
lessons learned -- research, research, and research well your selected destination -- language, culture, customs, food supply... etc... the works!
The truth is often harse in South America. Safety is the biggest issue. Many of the immigrants come from unsafe areas. Research is the key.
You should live in a place for 6 months before deciding to move there. Also, one should learn the language of the country.
There are a lot of things to consider before making a final move. It's not for everyone.
Thanks for your post!
Colette and Philip
hey hi C&P ! ... you're most welcome -- also appreciate your comment ... as they say, learn from those who have gone before and have come back to tell the tale ... enjoy a beautiful, sunny day! ... all the best, cheerio... 😊
p.s. have friends who originated from Ecuador & Peru many, many moons ago ... they met during university days, married, had kids, retired and now, they migrate back yearly to see family -- so it's a small world and getting smaller! ... :)
.. ⭐️ hey hi Deborah! .. good to see you ... absolutely right on! ...
... i've been invited over the years to travel to Peru by good friends who have a family house there high in the mountains -- Arequipa -- however, my travel trajectory would require at least an overnight in Lima -- no-oo thanks! ...
.... and having checked with our extended health insurer -- well, the last time we checked, Peru is not on the approved list for coverage, yet, Ecuador is -- so go figure?! ... if one needed to be air-lifted outta there -- good luck! ..
... check, check, and triple check ...
... thanks kindly for your comment, all the best, cheerio... 😊
p.s. ... and if ever to travel down South -- would need my army to accompany me ... lol ...
Thanks for the excellent information, Mike.
Years ago I debated about where to go for opportunities and retirement possibilities for the long run and finally decided on Asia. I studied the area, got some credentials and learned to speak Chinese.
The politics 35 years ago in Central America were a factor in my decision. Today the picture you paint makes it sound like a decent option.
Joe
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Mexico was never on my bucket list (because of the drugs) but we met someone in Costa Rica who has now been here a year and a half. At her urging we decided to try it. We are in a little community called Puerto Morelos, between Playa del Carmen and Cancun and love it. I am amazed at how cheap it is here compared to Costa Rica where we spent two winters. Much more expensive there.
We are cautious people and take precautions when we are out and about but so far the people are lovely and the area is great.
We love mingling with the locals and experiencing the cuisine.
Hope you are enjoying Costa Rica as much as we enjoy Ecuador. Glad to hear it!
Colette and Philip
Oops, I misread and see you are in Mexico. Que bueno!
We all have to take precautions but once you know what to do and where to go, it's safe. It's like anywhere else.
Isn't that the truth?! You hear horror stories of wherever you go. We have a friend in Ecuador. For the life of me I can't remember the place but it started with a V and might be in the mountains? I would know it if I saw it in print.
She also used to be in Costa Rica. She loves Ecuador :)
Mary Ann
Does she live in Vilcabamba maybe?
That's the place! :).