Living & Retiring in Puerto Rico?

[javeline86]

In another thread, one fellow posted a link to an article in Forbes about a recent program enacted in PR that enables mainlanders to move there (for at least six month per year) and enjoy very significant tax benefits. http://www.forbes.com/sites/robertwo...can-avoid-irs/

Having spent no time in PR other than a few days about twenty-five years ago, I'm wondering if any mainlanders on these forums have actually moved to PR and if so, what are your feelings on it. We wouldn't need to find jobs there so the awful unemployment is not a factor (although indirectly it may be with high crime).

Finally, if you've only spent a week-long vacation in PR, that's not the type of feedback I'm hoping to get because any place can seem like paradise for a week. Thanks.

[Bamaman]

I find Puerto Rico to be an interesting place, and we've been there many times.

It's a place that's at a crossroads from being Spanish speaking to English speaking to Spanglish speaking. You see some kids being raised with one language or the other language--and often both languages at the same time.

We see so many more people leaving Puerto Rico for Central Florida and New York because they have family there. The P/R unemployment is staggering. And so is petty crime with most houses having burglar bars, security doors and even bars over their carports--to keep their possessions from disappearing.

If you are Puerto Rican and have a ice cooler, you're selling water bottles at red lights. If you have a canopy and a gas grill, you're a roadside restaurant. Puerto Ricans will work hard and do anything to live.

Puerto Rico has some of the best weather in the world. And it's a very beautiful place. It's a shame that their government's borrowed so much money and don't have that much to show for it.

They badly need infrastructure improvements like roads to the west end of the island. The place should be one of the premier resort destinations in the world--but it's not. More hotels and resorts would provide much needed jobs.

But with Miami television and all the big national food chains, drug store chains, etc., it's an easy place to transition to living outside the continental U.S.

[javeline86]

Thanks for responding, but I'm unclear on your overall impression of PR in terms of actually living there as a retiree who doesn't need a job. Is the crime on the level of kidnappings and home invasions or is it basically confined to petty stuff like pickpocketing or burglary of unoccupied homes? Do you know if non- Puerto Ricans are resented? In short, I know the economic situation of PR and it is a shame, but what I don't have a handle on is how it translates to the life of someone who is somewhat wealthy and obviously not Puerto Rican in appearance moving there to live. Thanks again.

[sengsational]

You're probably looking at crime picture something like NYC. I don't think they have the hostage/kidnapping problem there. Certainly nowhere as bad as Mexico. Drug crime, though, I think.

[SoReady]

Quote:

Originally Posted by javeline86 In another thread, one fellow posted a link to an article in Forbes about a recent program enacted in PR that enables mainlanders to move there (for at least six month per year) and enjoy very significant tax benefits. http://www.forbes.com/sites/robertwo...can-avoid-irs/ Having spent no time in PR other than a few days about twenty-five years ago, I'm wondering if any mainlanders on these forums have actually moved to PR and if so, what are your feelings on it. We wouldn't need to find jobs there so the awful unemployment is not a factor (although indirectly it may be with high crime). Finally, if you've only spent a week-long vacation in PR, that's not the type of feedback I'm hoping to get because any place can seem like paradise for a week. Thanks.

The link provided doesn't work. Is there another that we can reference?

I too am interested in others responses to the OP.

[javeline86]

Hate Taxes? Move To Tax-Free Puerto Rico, Stay American, Avoid IRS

[haha]

Quote:

Originally Posted by SoReady The link provided doesn't work. Is there another that we can reference? I too am interested in others responses to the OP.

Treasure Island: Puerto Rico Bids To Become New Age Tax Haven - Forbes

[catman2020]

Only did a week there so can't be much help but overall very pleasant. Nicer parts of San Juan were reported to be and seemed safe and relaxed for folks from the states.

[Bamaman]

I would think Puerto Rico would be a great place to retire to if you can get housing for a fair price. The crime there is mostly petty thefts, and it's not a place with hard core kidnapping and strong arm robberies.

One big expense is having an automobile. They have something like a 100% sales tax on new automobiles to keep down the number of automobiles. The Port of Miami is loaded with used cars intended for delivery in Puerto Rico and the Virgin Islands.

The advent of budget air carriers has been good to Puerto Rico. Flights there are reasonably priced, and I've found flying out of Atlanta to San Juan to be about like flying to Miami.

Other close good retirement places would be the U.S. Virgin Islands--Charlotte Amalie and St. Croix. It's pretty quiet living, but pretty nice.

[Mulligan]

Quote:

Originally Posted by Bamaman I would think Puerto Rico would be a great place to retire to if you can get housing for a fair price. The crime there is mostly petty thefts, and it's not a place with hard core kidnapping and strong arm robberies. One big expense is having an automobile. They have something like a 100% sales tax on new automobiles to keep down the number of automobiles. The Port of Miami is loaded with used cars intended for delivery in Puerto Rico and the Virgin Islands. The advent of budget air carriers has been good to Puerto Rico. Flights there are reasonably priced, and I've found flying out of Atlanta to San Juan to be about like flying to Miami. Other close good retirement places would be the U.S. Virgin Islands--Charlotte Amalie and St. Croix. It's pretty quiet living, but pretty nice.

I don't think USVI has the tax breaks Puerto Rico may have, though I believe you only have to pay federal income tax which stays on the island. I am not the expert on STT or STX but I sure as hell wouldn't live there. I stay on STT just long enough to get me over to St. John. Now that is a safe, beautiful island where one could drink their life away in paradise bliss!


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[Ed_The_Gypsy]

PR is America's Greece or another Detroit. Bankrupt. If it doesn't have taxes now, they might be forced to soon.

I have heard that they have a significant crime rate but I have no details. edit: One of the Forbes articles says

Quote:

Puerto Rico? Really? When the property crime rate in the San Juan metropolitan area is six times that of the New York City area?

Interesting, but more research is recommended.

[MichaelB]

Quote:

Originally Posted by Ed_The_Gypsy Interesting, but more research is recommended.

+1, especially tax research. Escaping the long arm of Uncle Sam is not as easy as these articles make it seem.

Spanish fluency would be a plus.

[Ed_The_Gypsy]

Hmmm. It does look more attractive than Belize, though.

[Ed_The_Gypsy]

For many, Puerto Rico retirement far from idyllic
Ah, there is a fly or two in the mojito. The comments are also interesting.

[Ed_The_Gypsy]

The comments on TripAdvisor are also interesting:
retirement in Puerto Rico - Puerto Rico Forum - TripAdvisor

[MichaelB]

Interesting links, Gypsy Ed. Many thanks. From the comments it sounds as if living in Puerto Rico is like other Latin American countries. Some people love it, many can't adjust to the pace and lifestyle. I guess if you have to ask, it's probably not for you.

[Scuba]

Interesting post. We considered retiring in the USVI as we love spending time there, but the healthcare is a major drawback. Puerto Rico is probably somewhat better, but still not comparable to many areas in the US mainland. Between healthcare, Hurricanes, and distance from friends and family, we decided to stay on the mainland.

[finnski1]

Quote:

Originally Posted by Bamaman We see so many more people leaving Puerto Rico for Central Florida and New York because they have family there. The P/R unemployment is staggering. And so is petty crime with most houses having burglar bars, security doors and even bars over their carports--to keep their possessions from disappearing. .

As I tell the DW all the time. I don't want to live anywhere that I have to have bars over my windows no matter how great the weather is! I don't get it. Are people just used to a certain level of crime being acceptable? Even with bars and other security measures you still have people constantly casing your place for opportunity. That would destroy that real sense of contentment and privacy that I value so much. What could possibly trump that?
The small town where we live in NH has had no crime in the 23 years we have lived here. I don't mean zero but I can't remember any thing except maybe some body getting a DUI or something similar. That is worth quite a bit to us. YMMV

[MichaelB]

A 6 year old thread back from the dead ...

[Markola]

I’d favor Costa Rica and Panama, from what I read, or south Florida.