Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Anyone considering retirement in Puerto Rico?
Old 07-24-2021, 03:11 PM   #1
Dryer sheet aficionado
Join Date: May 2014
Posts: 34
Anyone considering retirement in Puerto Rico?

There has been many threads about retirement in Europe, Mexico, South America.. but haven't seen Puerto Rico being mentioned.

The US is one of the only nations in the world which taxes its citizens on all their worldwide income, irrespective of where they live; however, this is where Puerto Rico offers a unique advantage. Because Puerto Rico is technically part of the US, income sourced in Puerto Rico is excluded from additional US federal tax.

Being a tropical Caribbean island, it is no surprise that a major benefit of retiring in Puerto Rico is its great climate and beautiful landscapes.

As Puerto Rico is already a part of the United States, retirees will technically not even have to relocate to a new country. This means no hassles with visas, residency, currency exchanges, cultural adjustments, and so on. US citizens can move freely to Puerto Rico. It doesn’t take much more than getting on the next available flight out!

It is on average more than 50% cheaper to rent a house or apartment in Puerto Rico than the mainland US.

US retirees who already have Medicare will be happy to know that it is valid in Puerto Rico just like anywhere else in the US. Private medical insurance is also a good option because it is much more affordable in Puerto Rico. There are some top-quality hospitals and health services in Puerto Rico, with wide reaching infrastructure and access no matter where you choose to live
CuriousJoe is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-24-2021, 03:17 PM   #2
Alan's Avatar
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 29,885
There was a thread on retiring there a few years ago.

And a thread last year
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is offline   Reply With Quote
Old 07-24-2021, 11:41 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 5,174
I've been to Puerto Rico a few times over the years, and did some business over there. We even once rented a casita for a few days prior to taking a cruise to the deep Caribbean.

Puerto Rico has as good of weather as there is anywhere--exclusive of a hurricane from time to time. And the island is absolutely beautiful. It's a shame that it's not a real tourism haven given the great weather and beauty.

But there is now little in the way of jobs--other than in tourism. So many factories closed, and millions of Puerto Ricans have had to move to the mainland--mostly around Orlando and New York City areas. As you ride around the island, it's obvious they have a thievery problem as virtually every house has security door, bars on windows and even security bars around their open carports.

You see families there speaking only Spanish, some raising their kids English, and most speaking Spanglish--half and half. I never understood their not speaking any English since they're looking at Miami television and U.S. satellite channels.

But living there would be easy--for someone from the Mainland. Currency and banking is just like in the U.S. Your Walgreens' medical records are found at Walgreens in P/R. Many familiar fast food restaurants are also there. You might not like their taxing new cars to keep vehicle numbers down on their terrible roads--like a 100% sales tax. Many used cars get shipped there with miles on them--out of the Port of Miami.

I think their biggest problem (other than overpopulation) has been a long line of corrupt politicians. They cannot get roads built within budget and time. $ billions in U.S. government funds has disappeared. And things just don't get done there. But the place has great potential if their Deep State was cleaned out--but don't expect it.
Bamaman is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tips for Puerto Rico in May? soupcxan Travel Information 18 05-27-2009 07:14 PM
West coast of Puerto Rico FinallyRetired Travel Information 5 02-28-2009 07:46 PM
Puerto Rico Bank CDs? ats5g FIRE and Money 6 09-11-2008 05:25 PM
Puerto Rico soon -- any tips? pedorrero Travel Information 8 09-06-2007 07:06 PM
WHI Westerbank Puerto Rico terminator Active Investing, Market Strategies & Alternative Assets 11 07-27-2007 02:48 PM

» Quick Links

All times are GMT -6. The time now is 09:55 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.