Panama, Honduras, Vietnam, Argentina, Thailand? Where to retire?

[newyorklady]

And starting a business is so much cheaper in other countries. Restaurants for example, are so risky and are very high level entry costs for NYC for example. In another county I might be able to have a sandwhich shop, burrito shop, or something simple like that for very low cost, so I would be risking much less though making less as well, but cost of living would be less as well. there are million dollar condos now in the south bronx of all places. anyone who knows new york, knows that the south bronx is not a good neighborhood. very very very dangerous.

[mikew]

Hi
How long are you planning to spend abroad?
This will effect a lot of things.

Also, you may want to look at expat health insurance. You can have coverage worldwide including the US. They also have coverage for air evacuations.

A couple of companies are
BUPA
Goodhealth worldwide
International Health Insurance danmark

Mike

[newyorklady]

thanks for insurance info. still need to figure that out exactly. i am 30 now, and want to keep my place in nyc but spend a portion of my time elsewhere. If I was very happy there, then forever, until I am dead anyway. And later on, I might decide to just spend a month or so a year in nyc.

i am leaning more towards argentina's mendoza right now. i know i said i wanted beachfront, but i could always travel to a third location and vacation or rent there is a strong expat coummunity there and it is cheap. i could go to a beach like margarita island, venezuela, but with unstable political situation would not buy there. i personally like chavez, but not if i am a property owner.

as for brazil, it sounds great, but scared off about crime. panama seems pricey, don't know much about honduras.

[GTM]

Quote:

Originally Posted by mikew . Also, you may want to look at expat health insurance. You can have coverage worldwide including the US. They also have coverage for air evacuations. A couple of companies are BUPA Goodhealth worldwide International Health Insurance danmark Mike

These companies are good especially BUPA a British company.

Their premier plans generally cover the country you are residing in excluding the US but will cover you in the US when you visit. So you can get US coverage if you are visiting but not residing. Premiums are maybe 1/3 of US plans.
They are are pretty strict on what they cover so pre existing conditions probably will not be covered.
That may be a big factor for alot of people.

[yelnad]

Margarita Island? You must want a party beach.

[Lusitan]

Quote:

Originally Posted by newyorklady i am leaning more towards argentina's mendoza right now. i know i said i wanted beachfront, but i could always travel to a third location and vacation or rent there is a strong expat coummunity there and it is cheap.

Sounds like a better plan - I have heard many great things about Argentina. And moving inland away from the beach will definitely help you keep the cost down. I'd be interested to hear what you find out if you end up going down there to explore. Keep us posted

[Ed_The_Gypsy]

Quote:

i am leaning more towards argentina's mendoza right now. i know i said i wanted beachfront, but i could always travel to a third location and vacation or rent there is a strong expat coummunity there and it is cheap. i could go to a beach like margarita island, venezuela, but with unstable political situation would not buy there. i personally like chavez, but not if i am a property owner. as for brazil, it sounds great, but scared off about crime. panama seems pricey, don't know much about honduras.

You are sounding more sensible than you did at first (limited data; more detail helps). I am glad you are questioning the idea of buying right away. It is interesting that you only mention hubby later in the broadcast. There is something you are not telling us.

Think about it as a path that is new to you, to a place new to you. Would you consider walking the Adirondak Trail with as little information as you have given us? Would you take a bus to Newark? Your future is not something that can be bought out of a catalog.

You have a great idea. Now you have homework to do.

Excuse me for being a little pushy. I used to live in the NYC area. In my experience, New Yorkers always had nerve, but they didn't always have brains. You seem to have both. Now, DO YOUR HOMEWORK!!! or expect to lose a lot of money in the process.

If starting a business is vital to your transition, forget it. I looked into Costa Rica years ago with this in mind. Starting a business as an expat is a sucker's game. Also in Mexico. Also in Belize. At least Mexico makes it difficult to do. Mexico has a soft spot in their head for Yankees (God only knows why). There is an old saying in Belize: The way to have a million dollars in Belize is to come in with two million.

What is wrong with taking it a step at a time? As I pointed out above, you have the luxury of being able to wander around for a year without monetary risk--unless you start peeling off those greenbacks in front of the locals. (Is "tonto" in your Spanish vocabulary?)

By the way, Uruguay is NOT extremely expensive (unless you want to live in Puente del Este, in which case I am wasting your time). I suggest that you purchase this e-book (as I have):
http://www.escapeartist.com/e_Books/...n_Uruguay.html
It has a ring of credibility, which is not something that can be said of everything that comes out of Escape Artist.

Bon chance, mon ami.

Ed

[LEX]

I just spent a month touring Africa.* There are beaches in South Africa that are incredible and not very expensive.* Yes its also high adventure and risk, but there are things you can see and do in this place that make Centro America seem boring.* Do not rule South Africa out, at least for a visit. (You will not find many real estate development syndicates there a la Costa Rica, but the plane ride will cost you..).*

PS: Understand in advance that I like out of the way places, and so its rule one that you make up your own road map to where you want to go.* I have had a great time in north western Russia and the Crimean region, which is not exactly on the top of many folks trip-o-meter.* Helps to have a strong sense of adventure!

[jphripjah]

I think Thailand is a much more attractive option for young male retirees than female retirees.

I agree with the idea that you should strongly consider renting for a few years in a developing country before buying. You need time to learn the ins and outs of the country before making a huge investment like that. In many developing countries the ratio of rental cost *to property value is far lower than in the US. *You could probably rent a $200,000 home for about $500-$600 per month in many developing countries, where that would cost $1200 -$1500 per month to rent a similarly valued home in the US. I'm not sure why that is, but I think it has to do with the lack of a true middle class in some countries. Rich locals buy real estate and big houses as a way to park their money in something that can't be stolen from them overnight. But they have trouble renting them because the poor people don't have money to pay much rent.

[newyorklady]

Hello there. I am definitely planning on taking my time, living there for at least 6 months to decide if I really like it and get a feel for the market, get to know who the good local attorneys are, etc. I do not need to start any kind of business if I manage my money properly and live somewhere low cost. It would be an idea if I was bored and want something to keep me occupied, I am only 30 so might get bored. Would only do something with an extremely low start up cost. And that is jumping way ahead of myself.

Just gathering information up now as to where I should travel to narrow down the possibilities. I have lived abroad before, and have travelled quite a bit but want to live somewhere very cheap as I do have a substantial portfolio for someone my age and I would rather live well somewhere cheap than be stuck in the grind in new york, working for more money and not as nice of a lifestyle that i could have elsewhere.

And as for Africa, I have been to North Africa as well as Kenya and Tanzania. I would love to visit again, see the gorillas in uganda, and check out south africa, but don't think that is the continent for me to settle down in. Like I said I really want safety. I like to adventure travel, but finding a new home is a different story.

As for Thailand, yeah, don't want my husband bombarded with Thai women wanting a passport. Argentinian women are very beautiful too though, but probably not as desperate. I am very good looking, but for an American probably very plain for an Argentinian. Sounds vain, but I am a woman and this is an issue.

[Ed_The_Gypsy]

Yeah. I went to South Africa a few years ago on business. I was told that it had the highest murder rate outside of a war zone. (Think Port of Newark, on steroids.) I wouldn't go back, and I have a great idea for a business there and contacts to make it work. I work with a few Afrikaaners today. I don't think they will go back, either.

[newyorklady]

you mean newark, new jersey? yikes, that is the scariest place i know. nairobi seemed safer, though i didn't really spend much time there as i went for safari.

[GTM]

Quote:

Originally Posted by Ed_The_Gypsy Would you take a bus to Newark?* Your future is not something that can be bought out of a catalog.* * Excuse me for being a little pushy.* I used to live in the NYC area.* In my experience, New Yorkers always had nerve, but they didn't always have brains.* You seem to have both.* Now, DO YOUR HOMEWORK!!! or expect to lose a lot of money in the process.* If starting a business is vital to your transition, forget it.* I looked into Costa Rica years ago with this in mind.* Starting a business as an expat is a sucker's game.* Also in Mexico.* Also in Belize.* At least Mexico makes it difficult to do.* Mexico has a soft spot in their head for Yankees (God only knows why).* There is an old saying in Belize:* The way to have a million dollars in Belize is to come in with two million. Ed

Take a bus to Newark "oh my dear"* Never

PS starting a business in a foreign land is difficult but certainly not impossible.
Some expats are doing very well in this suckers game.

I know one was from California and I believe the other may have been a brainless nervery
New Yorker.

[newyorklady]

the business thing would be way down the road. most businesses fail, no matter where you are. i am good at business as evidenced by my early accumulation of wealth. but i could still fail, so i would not invest more than i can afford to lose, and not start anything unless it is fully researched, etc. there are so many businesses that are such low start up that it really wouldn't matter much if i did fail anyway. besides, would have to speak with a good local and international accountants wherever i go since even a failing business can at times have tax benefits that would increase wealth.

[Helen]

Quote:

Originally Posted by jphripjah I think Thailand is a much more attractive option for young male retirees than female retirees.

Could you expand on this a bit ? Is it safe for American women in Thailand ?

TIA,

-helen

[MJ]

Quote:

Originally Posted by jphripjah I think Thailand is a much more attractive option for young male retirees than female retirees.

Quote:

Originally Posted by Helen Could you expand on this a bit ? Is it safe for American women in Thailand ? TIA, -helen

I think believe jp was refering to the fact that some retired men find Thailand appealing because they can find young Thai woman looking husbands/boyfriends who will provide financial security for them and their family. I don't know if retired women would go to Thailand for the same reason.

[newyorklady]

The more I think about it, that is a big incentive for me as a woman to NOT move to Thailand.

[camberiu]

Quote:

Originally Posted by newyorklady as for brazil, it sounds great, but scared off about crime. panama seems pricey, don't know much about honduras.

Florianopolis (Floripa) is in general A LOT safer than NYC. Of course there is crime there, but nowhere near the levels you see in Sao Paulo or Rio. For a New Yorker, Floripa should be a quiet and safe place. Also, Brazil has universal health care for EVERYONE. It is not great, but it is more than enough for emergencies (car accidents. broken limbs, etc...)

[Jane_Doe]

Hi, NY Lady! Welcome!

An idea that is quite safe, but much blander would be the Bahamas. We like Freeport and there are condos around that price range. Not terribly cheap to live there, but certainly close to home.

Just a thought.

Also, Hondurus does have crime issues. Gangs run rampant and police have little authority. They are lax in prosecuting criminals and it is easy for them to get out of jail after getting arrested (and I'm not talking about petty crimes). Sorry, but them's the facts.

Anyway, I'm sure you will find someplace if you are determined. Have a friend who has a girlfriend in Brazil and they own an awsome house there. Economy there is pretty shaky I believe. Always something!

Good Luck!

Jane

[WRBT]

Vietnam is a wonderful place... friendly people, great food, lovely beaches, beautiful mountainous countrysides, cheap, relatively safe, etc.

That said it's my understanding retiring there isn't so easy. I believe you need a student or business class visa to rent a place, and playing Thai style visa run isn't as simple.

What about India? Chile?