I ran the cold beer over my forehead as the horse outside swished his tail. Afternoons in Panama’s Los Santos province are a good time to join cowboys and fishermen in a shady cantina. The horse’s owner had tied him under a spreading tree. I sat close by with a group of cheerful expats fresh from a visit to a coral island—a good moment to ask questions.
“How much does it really cost to live here?” I asked.
“You can do it for $1,000 a month. But that’s if you don’t drink. If you like beer, you can add a few hundred to that,” replied one guy, smacking his lips.
“Let’s be conservative,” I suggested.
“Well $2,000 a month is enough to live really well, rent a great home, eat out often…I reckon $1,500 is a good benchmark…”
And so the conversation went. I’ve had many like it. As have IL correspondents and editors all over the world searching out the truth of what, exactly, you get for your money. But still, with every conceivable cost factored in, it’s often hard to believe just how affordable it is overseas.
Take the “Garden City” revealed here. When I first heard that you could rent there from $200 a month and live comfortably on $1,000 or so a month, I was skeptical. But those figures have been put to the test and they’re for real. It helps that temperatures are usually in the high 60’s F and you don’t need air-conditioning or heating.
And some of my colleagues were dubious on hearing that a couple can travel the world on just $40 a day…but Ann and Mike are doing just that… two of the growing number of folks who quit their jobs and took off to see the world on a one-way ticket—see how here.
But I’m a believer. After all, I’ve personally experienced the outstanding value of three of the five lowest-cost destinations on the IL beat…places where a social security check bags you an enviable lifestyle…where $1,500 a month covers everything including your maid’s paycheck and a regular massage. And you can find out all about them right here.
You’re on the way home from the largest outdoor market in South America, where you loaded your shopping bags with farm-fresh produce for less than $5. The warm weather tempts you to enjoy an easy stroll through one of the plazas and parks that dot the city. Decked out with blooming flowers in vivid patterns, they offer the perfect retreat from the market’s hustle and bustle.
I can easily afford to indulge myself whenever I want,” says expat Rob Schneider. “Between breakfast, renting a catamaran, and dinner for two, I came away with change out of the $25 I had in my pocket this morning. “What would I have back home? The best I can imagine is a small apartment far from the beach and a nine-to-five job or— now that I’m in my late 60s—a pension that would barely cover my basic expenses. Maybe I could scrape enough money together to take a bus to the beach on weekends, but I certainly couldn’t afford to go sailing.”
“I really love my life in Guatemala. The low cost of living makes me feel that the opportunities here are endless, and I feel like I can really carve out my little spot here in paradise,” says expat Tara Tiedemann of her life in colonial Antigua, a gem at the heart of Guatemala. “It’s amazing how far your money goes in Guatemala. For $500 a month, I can rent a beautiful apartment in a colonial-style building right in Antigua. I’m within walking distance of the Central Park and my favorite bakery for fresh banana bread.
Rich in history, culture, and romance, Europe has long had a strong appeal for North American retirees. But many people who would love to retire to the Old World fret that it’s beyond their budget. And while Europe on the whole is more expensive than Latin America or Asia, that’s not to say that there aren’t countries here where a more affordable retirement can be found—without sacrificing the Old-World romance you crave.
Two years ago, I made my first recommendation on jet-set Cabo, at the tip of Baja California. Members of my Real Estate Trend Alert group could buy a luxury condo in a luxurious community for $336,516. Those who locked down one of these condos—including me—have done well. A comparable condo now retails at $428,301—a paper gain of $91,785.
These days, most developed countries have huge government debts. But there’s one country with massive net assets. It also has substantial natural resources and twin surpluses (budget and current account). Despite this, its stocks are on sale right now. And these stocks could net you a solid return over the coming years—if you act quickly.
Where should you stash your rare coins, precious metals, or other long-term investments you want to keep safe and secure? You could hold them in the U.S., in a bank safe deposit box (if it’s big enough) or a private vault. But if you really want to keep them safe, you’ll want to consider storing them internationally, to diversify where you keep your wealth. There are some other great reasons for doing this.
Vintage violins—as well as looking great—can appreciate in value year on year. If you’re the lucky person who found the priceless Stradivarius in the attic or paid $2 million for the 1968 Stratocaster played by Jimi Hendrix at Woodstock, you probably don’t need to read this article. If, however, you fancy turning your den into a string museum or emulating the Hard Rock Cafe’s wall of fame, then read on.
I am happy. I don’t worry about car insurance, driving for hours, or traffic. I don’t have to put on a pair of heels and a business suit. Flip-flops and a great pair of shorts or sundress are my normal attire now,” says Marlene Houghton, who owns Marbucks, her dream coffee shop on the island of Ambergris Caye, Belize.
You can take Rob Baker and Lisa Blythe out of Wisconsin, but you can’t take away their obsession with the Green Bay Packers. The dynamic duo left their snow-covered home for a beachfront business in paradise, and they’ve brought their favorite pieces of home with them. “Our restaurant was the first official Packer Bar in the whole country!” Lisa proudly exclaims. “Football season is so much more fun on the beach.”