My Craziest—And Surest—Recommendation Of All
Jan. 21, 2015, Medellin, Colombia: Colombia, especially Medellin, is an emerging top retirement, lifestyle, investment, and second-home choice.
Dear Live and Invest Overseas Reader,
I was one of the first people in the world to recommend that North Americans consider the idea of retiring to Costa Rica. That was 30 years ago. People told me I was crazy. Why would anyone want to retire to a Third World country when they could retire to Florida or Arizona instead?
People called me crazy, too, when, a few years later, I started recommending Belize as a place to relocate in retirement. In this case, no kidding, I think I was the first person to make the endorsement. I was first with Roatan, Ecuador, Panama, Nicaragua... and, every time I published one of these new retirement picks, readers, friends, family, business colleagues, and strangers would get in touch to point out that I was speaking nonsense, acting irresponsibly, even embarrassing myself.
I won't belabor the history further. I want to get to my present-day point, which is maybe my craziest—and surest—recommendation of all:
Medellin, Colombia, meets all my criteria for a top retire-overseas choice. This is an emerging champion for retiring, living, investing, and owning a second home overseas.
Furthermore, the current exchange rate is handing today's buyers shopping with U.S. dollars a whopping 32% discount off the cost of real estate in this country and 32% off the cost of everything else, too.
In July 2014, the Colombian peso was trading at 1,850 per U.S. dollar. As I write, it's trading at 2,450 per dollar. Again, that translates to 32% more buying power today for U.S. dollar-holders than just six months ago.