An idea to considering

d0ugMarch 28, 2010

I sailed out of Canada when I retired at age 53 to see the Caribbean after 6 years of sailing around I finally stop in the Dominican Republic where I am to day. IâÂÂm not recommending anywhere in particular because there are lots of third world counties to choose from but this is the one IâÂÂm familiar with. My retirement funds are $1,600 Canadian per month. On that I lived built a house with swimming pool and live very well.

There are some draw back like roads in the countryside are not very good shape, Electricity where I am is 10 hours a day but we have an inverter so we have it 24/7.

The government has many problems with corruption. Most gringos here look like meal tickets for Dominicans so you need streets smarts. You need to learn Spanish. Having said all that your money goes farther and most Dominicans are very friendly. If you are like me with few ties to Canada or other country it might be a consideration to retire to a nice warm country.

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We have friends who couldn't afford to retire in the US, so they explored Central America and have just chosen Panama. They rent a cottage on a coffee plantation owned by a former US lawyer who gave up the rat race 15 yrs ago to grow coffee beans instead. Being up in the mountains, it's cooler and the views are spectacular! It looks like it will work out very well for them (the wife was born and raised in South America so she speaks fluent Spanish).

    Bookmark   March 28, 2010 at 10:49PM
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They will probably be very happy not waking up every morning worrying about the ALL MIGHTY DOLLAR

    Bookmark   March 29, 2010 at 7:25AM
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I can't imagine why anyone would waste their time worrying about the dollar anyway, LOL. It is what it is, and very little you or I will do could affect it. Unless you travel a great deal overseas, currency fluctuations mean very little to the average person.

    Bookmark   March 29, 2010 at 3:05PM
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Wouldn't the main problem with retiring to these places be the quality of medical care? Would insurance work in these countries?

    Bookmark   March 30, 2010 at 11:20PM
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Actually, the quality of affordable medical care in quite a few overseas countries is on par with good US medical facilities. Some insurance carriers actually encourage their policyholders to have certain operations done overseas; even with airfare it's considerably cheaper than the US.

Medicare and most private insurance does not work overseas. If you withdraw from Medicare and then decide to come back to the US, you must re-apply and will pay the age penalty.

    Bookmark   April 1, 2010 at 7:13PM
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My medical here in the D.R. little over $1,000 Canadian per year. If I went to the hospital it's free. The clinics are more up to date than the hospitals. There is a doctor in the local hospital who will stop by if I give him a call for help with no charge and sometimes he brings the medicine I need free as well. The medical insurance doesn't pay 100%. If you know what you need in medicine you can go to the drug store here and buy it over the counter. There is even truck in the road that sell everything and they carry antibiotic and pain killers like ibuprofen 800mg

    Bookmark   April 2, 2010 at 8:37AM
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