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Best Caribbean or Central America location to retire? (Now with South America!)


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Best Caribbean or Central America location to retire? (Now with South America!)

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  #21 (permalink)
Sydney, Australia
 
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Great plan Mike.

I would love to "retire" right where I am. Sydney has basically everything on your list, except it is a very expensive place to live. You need a LOT of money to live the good life here, but it is a brilliant place if you do. You can live in a mansion on beautiful beaches, cruise the clean harbor on your super yacht, stopping at beaches only accessible by boat. Eat at some of the worlds best restaurants. Helicopter to the many wine regions close to the city (or drive in your Lamborghini Aventador). Own a holiday home at some of the worlds nicest beaches only 2 - 4 hours away.

All this for only roughly $100 Million a year

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  #22 (permalink)
virginia
 
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In case you don't already know this site International Living - Since 1979

interesting, these attendees look the same as people I saw in a trading seminar Live and Invest Overseas 2009 – International Living - Since 1979

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  #23 (permalink)
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Presto View Post
Grand Cayman! There is no way to get away from taxes though

Denounce citizenship... Of course, then you can only come into the country for so many days a year. To some that is extreme, but I am considering it once the kids get through Uni.

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  #24 (permalink)
Market Wizard
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qewcool View Post
biggest factor Im afraid of is the high probability of hurricanes ... every year actually.
I dont think you will be trading much in hurricane season. Power and internet connectivity are surely affected as well.

Also what is the cost of life ? I would think being on islands it would be much higher than in mainland USA or Canada.

Cost of living is generally extremely expensive for all islands because all goods are imported and taxed. Here is a quote from 2006. I think prices have only gotten worse too...

Quoting 
Only In Bermuda: Studio Apartments For $1800/mo, 2 Bedrooms For $3000 Blame it on the reinsurance companies and their overly generous housing allowances. Blame it on the opportunistic real estate agents and greedy landlords. Blame it on supply and demand. The sad truth is that housing in Bermuda is some of the most expensive on earth. The average home price recently hit $1,000,000. Luckily, itís only a million Bermudian dollars. Wait Ė no, that canít be right Ė the exchange ratio is 1:1 with the greenback!
Thereís only so much land, and itís almost all gone. Few new houses are being built, and those few that are ďaffordableĒ (a highly relative term) are located either in Somerset at the far west end, or in St. Davidís at the east end of the island. Count on a good 45 minute commute. I stayed a few months last winter with a friend in Somerset. By the end of my two months, I was considering moving back to Canada, where the commute would only be Ĺ an hour. There are no highways, just a single 35km/h lane in each direction.
So how much does it cost to put a roof over your head these days? Count on $1000 or more for a room in a houseshare (your bedroom, plus common area), $2500 or so for a basic 1-bedroom place that isnít out in St. Davidís or Dockyards. Add $200-$400/mo for electricity, $120 or more for phone and Internet, $30-50 for basic cable and youíre set.

Source: The Bermuda Expatís Survival Guide: Top Ten Things To Know Before You Sign That Contract A Canadian In Bermuda ~ by Robert Hof


Hurricanes happen frequently but only 2-3 did any real damage in the 20 years I lived there. The general way it goes is: 1) Hurricane warning 2) Anxiety 3) Hurricane downgraded to a tropical storm or misses the island entirely (it is extremely uncommon for direct hits to happen as the island is only 24 sq miles long)

I remember going a week without power after Hurricane Fabian but that was close to 10 years ago and the infrastructure is likely a bit better prepared. Also, with today's technology you can trade on your phone or even set your phone up as a mobile hotspot to get online.

Here are a few blogs about foreigners living in Bermuda. You can also use it to search other blogs in other countries
Blog Bermuda, expat Bermuda

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  #25 (permalink)
Cambridge, Massachusettes, USA
 
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Easy one as I am from the Caribbean:

BARBADOS

- One of the strongest Economies
-Safety is a NON-issue
-Hygiene is PAramount amound the locals
-Internet connection is also a non-issue
-Crystal clear Water (at the beach)
-Sand (White and granular like Sugar)
-The one drwaback is its size: quite small (166 square miles)


Jamaica - WAY to unsafe as it has one of the highest Murder rates in the Caribbean (shooting a cop there is a non issue and don't forget the big drug lord who just pleaded guilty here in the US recently. The community defended him when the cops went to arrest him in Jamaica)

Dominican Republic - WAY too dangerous: I am a New Yorker and the D.R. peeps never even want to visit their birth-place!!!



I would also recommend: the ABC islands if you are into water sports.

thanks,
NitroG

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  #26 (permalink)
Las Vegas, NV
 
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You will not be happy on any island where English is the language or is somehow heavily influenced by America (hard to remain patriotic these days, isnít it?) i.e. Porto Rico, Guam, Virgin Islands, Hawaii, and perhaps all Caribbean islands. That said, we are so spoiled in USA and if have not spent any time living somewhere else we have no idea what it is like living outside this country, even in Switzerland. Having lived half of my life outside USA, I can safely say that nothing is more important than the security for future and freedom to do anything you want, and if anyone tells you anywhere else is more secure than USA has never travelled or lived anywhere beyond a cruise line excursion or has never truly lived in USA.

It was, I think, Jack Nicklaus or Lee Trevino who said: I love to do what I love to do the best and get paid for it. In effect, both of them retired when they won their first Major and kept doing it thereafter. So, my friend; find that one or two things that matter and you love the most. Then it becomes so easy to figure out where to find them in the most secure and free way. That is the place to retire.

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  #27 (permalink)
Perdido Beach, AL
 
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Mike
The US is unique in that the tax net it throws is world wide. The easiest way to exit it is to get dual citizenship then drop the US citizenship. Dual citizenship for Americans is only available in a few places unless you are willing to wait and go thru a crazy process. Check out Dominica (not Dominican Republic) and Nevis St Kitts. The buy in is 75k for Dominica and 250-300k for St. Kitts last time I checked. Best of luck.

We put our moving plans on hold this past year due to family issues however tropics is where we are headed eventually.

ďBe who you are and say what you feel because those who mind don't matter and those who matter don't mind.Ē - Dr. Seuss
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  #28 (permalink)
virginia
 
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went to Abaco once, friendly island Abaco, Bahamas | Vacation Guide and Directory by Sandy Estabrook. An Information Resource of Vacation Rentals, Accommodations, Lodging, Services and Boat Rentals. A guide to the Abaco Cays and the off the beaten path Mainland Abaco settlements for Va

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  #29 (permalink)
australia
 
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What amount of money are we looking at to be able to "retire" to the Caribbean?

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  #30 (permalink)
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jonc View Post
What amount of money are we looking at to be able to "retire" to the Caribbean?



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