Articles Related to Retire to medellin


Rainfall is great in Medellin (66 inches versus 35 inches in Cuenca), but the average sunny day is just a bit higher in Medellin. 

The city with the "perfect weather" for you will be a matter of your own taste.

Establishing residency is fairly easy in both Colombia and Ecuador, with low thresholds for visa qualification in both countries. In Colombia, the pensioner's visa requires an income of a little less than US$1,000 per month, while in Ecuador the level is even lower, at US$800 monthly. For an investor-type visa, Colombia's options start at around US$34,000 for a one-year temporary visa, while Ecuador requires US$25,000 for full, permanent residency.

So Ecuador has lower thresholds for permanent residency, both for the investor and the retiree.

Colombia's visa, however, is quicker and easier to obtain, with fewer required documents. Also, Ecuador imposes restrictions on being out of the country during your first two years of residency, while Colombia has no such restrictions. 

The cultural scene in Medellin is remarkably similar to that in Cuenca. This is surprising because Cuenca has around 600,000 people in its metro area, while Medellin has about 4 million. In both cities, you can enjoy orchestra, theater, art openings, museums, and a generally sophisticated cultural scene. You'll pay a fee for most of these in Medellin, while in Cuenca they're usually free. 

The infrastructure is good in both cities. You'll enjoy drinkable water, reliable broadband Internet, and dependable electricity, water, and phone service. 

Also, both cities are very walkable, and both have excellent and cheap public transit systems. If you decide to drive, you'll find traffic jams equally maddening in both cities. 

Real estate costs are cheap in both cities by Latin American standards. I prepared a survey recently that compared costs in Medellin, Montevideo (Uruguay), Fortaleza (Brazil), and Panama City. For comparable properties and areas, prices in Medellin's El Poblado are the lowest on a per-square-meter basis.

But Cuenca's prices are lower. 

A nice, two-bedroom apartment in Cuenca might cost around US$80,000...while that same apartment in a comparable neighborhood of Medellin would cost more than US$120,000. You can find Cuenca-style pricing in Medellin but not in the best neighborhoods. 

For the lifestyle you'll enjoy in Medellin, the real estate is a tremendous bargain. And the same is true in Cuenca; for the lifestyle it offers, it, too, is a tremendous bargain.

But the lifestyle in one is nothing like the lifestyle in the other, which brings us to the ways these cities differ. (As Medellin is such a large and diverse city, I'll focus on its El Poblado neighborhood for my comparisons.)

Medellin's El Poblado offers a modern, upscale ambiance. It has elegant shopping, spotless infrastructure, glistening new buildings, and more fine-dining that you can imagine. New luxury brick high-rises look down from lush, wooded hillsides. Tall trees line the well-maintained streets. And El Poblado is only one of many desirable areas in this city.

On the other hand, Cuenca is one of the Americas' premier Spanish-colonial cities and a UNESCO World Heritage Site. The old cathedral was built in 1557, the historic architecture is well preserved, and the streets are cobblestoned. You'll even see evidence of the Inca occupation from the early 1500s. Yet just outside the historic center, Cuenca also offers new, modern high-rises. So you could live in a modern home, yet have the historic center within walking distance. 

El Poblado is a First World environment; you'll be hard-pressed to find a U.S. city that can beat it. Cuenca is part of a developing country with some Third World characteristics like poor sidewalk and building maintenance. 

Access to the States is easier from Medellin than from Cuenca. Medellin has daily nonstops to Miami, while you'll need to connect (and possibly spend the night) in Guayaquil or Quito when traveling to and from Cuenca. This adds a day to the trip, as well as the cost of lodging and taxis. 

The expat community is far smaller in Medellin than in Cuenca. I can find expats in Medellin—at a local coffee shop or the Irish pub—if I look for them, and a couple of Americans are signed up at my gym. Otherwise, I don't see them around.

In Cuenca, the expat community is big, estimated between 4,000 and 5,000 people. These folks are making a cultural imprint on the city. I'd say that impact is positive. Since the infusion of North Americans to this city, there's been an explosion in the number of nice cafes, restaurants, and book shops, as well as other expat-owned services and businesses. Today in Cuenca, you can find most anything you might be looking for and, normally, an English-speaker to deal with in the process.

But whether an expat community of that size is a positive or a negative for you is a matter of choice. 

The cost of living is higher in El Poblado than in Cuenca, due in part to the exchange rates. Ecuador uses the U.S. dollar, so dollar-holders don't feel the pinch of a weakening currency. Colombia has a strengthening Colombian peso. 

The basics in Medellin (food, entertainment, utilities, public transit, taxes, and HOA fees) cost me about US$1,850 per month. I believe in Cuenca the total cost would be about US$1,250 for the same lifestyle. Many people live for less than that in Cuenca, but I'm using an apples-to-apples comparison from my own experience.

Bottom line, neither city is expensive, but Cuenca is definitely less expensive than Medellin. 

Which is the better retire-overseas choice?

Impossible to say. Manhattan is not inherently better or worse than New Orleans, after all...but it's a lot different. And the same goes for Medellin and Cuenca.

I see Ecuador as a cultural adventure where life is as different as you can get from the United States or Canada, short of moving to Asia. When I retired to Cuenca at age 49, I shunned places like Medellin, Chile, and Uruguay, because they were too much like the States. I wanted something as different, enriching, and exciting as I could get, and Cuenca fit the bill. 

Today, I think of Medellin as a way to reward myself. It's a treat to be here. Medellin is a way to enjoy perfect weather and an elegant lifestyle that I couldn't afford in the United States. When I bought my place in Medellin 10 years after I'd left the States, at the age of 59, it was exactly what I was looking for at that stage. I wanted an elegant, luxury lifestyle at an affordable price, and Medellin fit the bill. 

And that's the real reason that Medellin is now my "ideal retirement spot"...when it used to be Cuenca. 

You've heard a dozen times that the "perfect retirement location" is different for everyone. But there's more to it than that. 

Your "perfect spot" can also change with your taste, your age, and your experience living abroad. And that's really part of the fun.

This living overseas thing is an adventure and a journey of discovery that need never stop.

Lee Harrison

P.S. Could Cuenca, Ecuador, be your dream retirement destination? The only way to find out is to come see for yourself. We're preparing for the launch of our September Live and Invest in Ecuador Conference. Put your name on the list for VIP attendee perks and discounts here.

 

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May 26, 2014

"Kathleen, excellent piece on the elections under way in Colombia. Having lived in Colombia in various cities as a Peace Corps volunteer and staff...married a beautiful Colombian and our son was born there...Colombia is my "patria chica" (homeland), as they say. Please let me know if I can be of any assistance in this beautiful country with the best Spanish spoken in the interior...the best in Latin America!"

--Bob A., Colombia

No presidential candidate received the required 50% or more of the vote in yesterday's elections in Colombia, meaning the two candidates who received the most votes (Zuluaga and Santos) will now compete in a runoff election to take place June 15. We'll keep you posted.

***
"Kathleen, just want to thank you for all the information that I didn't even know I needed. However, my brain is so full that I shall indeed rely on theaudio of the conference you've promised to send. Mainly to convince our children that we have not lost our minds!"

--Denise C.., United States, attendee at last week's Live and Invest in Colombia Conference

 

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May 21, 2014

"Kathleen, really enjoyed your writing 'Confessions Of A Developing-World Developer' and applaud both you and Lief for having the vision to develop Los Islotes.

"We purchased property there sight-unseen last year, and I visited with the group in January. During that visit, not only was I taken by the beauty of the area but connected with several other land owners. We have kept in touch, and I enjoy hearing of their plans and progress as we exchange emails and phone calls.

"You spoke of the community you envision. I want to tell you that community is already happening as we land owners share our dreams and progress with each other.

"We will be back out in January next year and hopefully have our timeline in place so we can begin a new phase in our life within Los Islotes.

"Post more pictures as they are available so we can see all the exciting progress!"

--Amy T., United States

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--Lief Simon, Medellin investor

"Colombia is enjoying record-level foreign direct investment and steady economic growth year on year. Inflation is among the lowest in Latin America. Six of the best universities in the region are here and five of the best hospitals..."

--Daniel Gutierrez, Colombian attorney

"My worst day in 8 years in Medellin has been better than my best day in 14 years living in Naples, Florida—and Naples is a pretty nice place..."

--Rich Holman, Medellin expat and businessman

"This isn't some backwater basket case struggling to recover from its most recent crisis. This is a country with a strong, solid economy that is getting steadily stronger. Current growth rate is 5%, and growth rates are projected to average better than 4% per year through 2018 at least. Further, Colombia enjoys an energy surplus. This country is not energy-dependent on anyone..."

--Lee Harrison, Medellin expat and investor

"Pablo's dead. Go back, tell your people..."

--Rich Holman, Medellin expat and businessman

"The property purchase process in Colombia is transparent and secure. The cost of buying is about 1% of the purchase price. This is among the lowest in the world..."

--Lee Harrison, Medellin expat and investor

"Colombia offers a number of good visa options. Currently you need US$972 per month to qualify for a pensioner visa. And you can receive your visa in three days once you have all your documents in order..."

--Juan Dario Gutierrez, Colombian attorney

"Congratulations on taking the bold step to come here. I firmly believe you will be very happy you ignored all the friends and family who told you you were crazy to travel to Colombia. You're going to be awfully glad you mustered the courage and opened your mind to give this place a chance..."

--Rich Holman, Medellin expat and businessman

Kathleen Peddicord

Editor's Note: If you're not in Medellin with us for this week's Live and Invest in Colombia event, you are missed...

And, frankly, you are missing out. Colombia is emerging as one of the world's top retirement and investment havens. Medellin, especially, offers a perfect-storm opportunity right now to reinvent your life, rescue your retirement, and diversify your portfolio into one of the world's most promising marketplaces.

"This experience so far exceeds my expectations," one attendee at this week's conference told me yesterday, "that I'm just shaking my head. This city...this conference...this is all really something special..."

We're getting the whole thing on tape. The collection of audio recordings will be bundled to create our all-new Live & Invest in Colombia Home Conference Kit. You can reserve your copy of this Total Colombia Package now, taking advantage of a better than 50% pre-release discount.

Do that here.

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You don't mind...or, if you do, you're not happy. If you're interested in a lifestyle supported by the diversions and distractions of a big city, Cayo is definitely not for you. If you're delighted by the thought of wide-open spaces where life revolves around the land and where independence and self-sufficiency are prized above all else, then Cayo could be the paradise you seek.

At home in Cayo, the view outside your bedroom window and from your front porch would be of fields and pastures, trees and jungle, rivers and livestock. You'd see Mennonites driving horse-drawn carts and children walking home from school. Everyone going about his or her business, not much bothered by market values, fiscal cliffs, or the mounting deficit. Here, in this land of escape, where life is simple, those things don't seem to matter or even to register.

Living in Cayo, you'd have Internet but maybe not reliable high-speed service. Don't move here if you plan to day trade.

Who Should Retire To Medellin, Colombia?

Medellin is a pretty, tidy city with a near-perfect climate. It's also culturally and recreationally rich and diverse in a sophisticated, developed-world kind of way. On any given day, you could visit a museum or see a tango show. There's opera in season, shopping year-round, and dance clubs, nightclubs, and white-glove restaurants...plus interactive outdoor museum-parks, an aquarium, an amusement park, botanical gardens, a planetarium, a "Barefoot Park" with a Zen garden, and dozens of small, neighborhood parks and treed plazas.

Medellin is an economic and financial center for Colombia, as well as a literary and an artistic one. It's the base for newspapers, radio networks, publishing houses, an annual poetry festival, an international jazz festival, an international tango festival, and an annual book fair. Back in 1971, Medellin was even the venue for Colombia's answer to Woodstock, the Festival de Ancon.

Medellin is a place where things work--the Internet, the metro, street-cleaning, garbage-collection...you can count on these services day-to-day. Taxis are metered, shop-keepers are well-mannered, and the people you pass on the street are well-dressed.

Making this a good choice for someone who wants city life but who also enjoys the out-of-doors (as this is a city best enjoyed al fresco). Medellin is suited to the retiree who isn't interested in hot, humid, or tropical and who appreciates Euro-chic but doesn't want to travel all the way to Europe.

The expat and retiree communities in Medellin are fledgling, meaning that you'd have to assimilate into the local one. This would mean speaking Spanish. If you don't already speak Spanish and don't want to learn, Medellin is probably not your ideal retirement haven.

Who Should Retire To Cuenca, Ecuador?

Cuenca is a colonial city where the cost of living is low and the cost of buying a home of your own is near rock-bottom. The health care is high quality, honest, and super-affordable. As in Medellin, the weather is "spring-like" year-round. Unlike Medellin (which is an emerging retirement haven rather than an established one like Cuenca), the city is home to one of the world's largest and fastest-growing communities of foreign retirees.

On the other hand, you have to remember that, charming as it can be, Cuenca is located in a poor, developing country. In this regard (and many others, too) Cuenca is the yang to Medellin's yin. In Cuenca, as throughout Ecuador, the standards of maintenance for roads, buildings, sidewalks, etc., won't be what you're probably used to and the hassle factor associated with any administrative task will be big.

Expats we know who are happy living in Cuenca are able to consider these annoyances fair exchange for the simple, 1950's lifestyle the city offers. Walking around town (Cuenca is a place where you could live comfortably without owning a car), you'll get to know the shop owners and your neighbors, who will all get to know you, too.

Cuenca will appeal to the expat who wants city life but who also has a sense of adventure and who is up for (rather than intimidated by) culture shock.

Who Should Retire To Puerto Vallarta, Mexico?

Romantic. That might be the best single word to describe Puerto Vallarta. The city also offers shopping and fine dining, boating and golfing, country clubs and community, gourmet shops and designer boutiques...all alongside a beautiful stretch of the Pacific Ocean.

Puerto Vallarta could be called glamorous, but the cost of living and of buying real estate here aren't jet-set. This is one of Mexico's most sophisticated resort spots, with more cachet than Mazatlán and more chic than Cancún. Walking around Vallarta, you get that happy, vacation-time feel that successful beach resorts exude.

And that's the would-be retiree overseas who should consider Puerto Vallarta--the beach-loving soul who likes the idea of retirement as a perpetual, fully appointed vacation.

Who Should Retire To El Cangrejo, Panama?

El Cangrejo is the expat hub of Panama City and a top choice for a comfortable, affordable, downtown-city-living experience. In El Cangrejo, you're smack-dab in the middle of everything Panama City has to offer.

This is one of the few neighborhoods in this city that is walkable and where you could get by without a car. It's also the only neighborhood in this city I'd describe as "cool." Over the years, El Cangrejo residents I've known have included a Chilean artist, a corporate transplant from Canada, many young Panamanians bucking the tradition of living with their parents through their 20s, retired hippies from the States, an entrepreneur from Serbia, and an Irish writer.

Panama City is the region's melting pot, and El Cangrejo is where the most interesting of the many transplants to this town choose to settle.

It's also Panama City's red-light district, the center of its prostitution (legal in this country) and casino trades. El Cangrejo's streets are lined with nightclubs and cafes, restaurants and pubs, plus low- and mid-rise apartment buildings. This isn't flashy Panama City (you find that in the high-rises along Avenida Balboa and in Punta Pacifico) and it isn't power Panama City (that's in Altos de Golf). El Cangrejo could be called the soul of this city, a good choice for the retiree with an open mind...

Who doesn't mind heat and humidity, congestion and traffic, noise and litter. These things, too, are all a part of the scene here.

Kathleen Peddicord

 

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Dear Live and Invest Overseas Reader, 

Where is the best place in the world to retire?

That's a tricky question to answer, so I suggest coming at this from a different angle. Rather than trying to identify the world's top retirement haven, consider instead who's best suited to retire where.

A short list of top retirement options in the Americas right now would include:
  • Cayo, Belize
  • Medellin, Colombia
  • Cuenca, Ecuador
  • Puerto Vallarta, Mexico
  • El Cangrejo, Panama

Which one of these places is the best choice? It depends on who you are.

Who Should Retire To Cayo, Belize?

Belize is a retirement, a tax, and an offshore haven. This is a sunny country where the folks speak English and value their freedom and privacy. Belize is easy to get to from the States, and the people living here are welcoming and hospitable once you've arrived.

On the other hand, this is a small country where the infrastructure is most kindly described as "developing."

The cost of living can be affordable, even low, but not if you want to live a more developed-world lifestyle that would mean buying lots of things not produced locally. Anything imported comes at an inflated price.

My favorite part of Belize is its Cayo District. No infrastructure, limited services and amenities, and little market demand could be interpreted as negatives, but, in Cayo, these things are a big part of the appeal. Once you get to Cayo, you don't mind that there's no infrastructure. You don't mind that the culture is more concerned with country living than consumerism.

You don't mind...or, if you do, you're not happy. If you're interested in a lifestyle supported by the diversions and distractions of a big city, Cayo is definitely not for you. If you're delighted by the thought of wide-open spaces where life revolves around the land and where independence and self-sufficiency are prized above all else, then Cayo could be the paradise you seek.

At home in Cayo, the view outside your bedroom window and from your front porch would be of fields and pastures, trees and jungle, rivers and livestock. You'd see Mennonites driving horse-drawn carts and children walking home from school. Everyone going about his or her business, not much bothered by market values, fiscal cliffs, or the mounting deficit. Here, in this land of escape, where life is simple, those things don't seem to matter or even to register.

Living in Cayo, you'd have Internet but maybe not reliable high-speed service. Don't move here if you plan to day trade.

Who Should Retire To Medellin, Colombia?

Medellin is a pretty, tidy city with a near-perfect climate. It's also culturally and recreationally rich and diverse in a sophisticated, developed-world kind of way. On any given day, you could visit a museum or see a tango show. There's opera in season, shopping year-round, and dance clubs, nightclubs, and white-glove restaurants...plus interactive outdoor museum-parks, an aquarium, an amusement park, botanical gardens, a planetarium, a "Barefoot Park" with a Zen garden, and dozens of small, neighborhood parks and treed plazas.

Medellin is an economic and financial center for Colombia, as well as a literary and an artistic one. It's the base for newspapers, radio networks, publishing houses, an annual poetry festival, an international jazz festival, an international tango festival, and an annual book fair. Back in 1971, Medellin was even the venue for Colombia's answer to Woodstock, the Festival de Ancon.

Medellin is a place where things work--the Internet, the metro, street-cleaning, garbage-collection...you can count on these services day-to-day. Taxis are metered, shop-keepers are well-mannered, and the people you pass on the street are well-dressed.

Making this a good choice for someone who wants city life but who also enjoys the out-of-doors (as this is a city best enjoyed al fresco). Medellin is suited to the retiree who isn't interested in hot, humid, or tropical and who appreciates Euro-chic but doesn't want to travel all the way to Europe.

The expat and retiree communities in Medellin are fledgling, meaning that you'd have to assimilate into the local one. This would mean speaking Spanish. If you don't already speak Spanish and don't want to learn, Medellin is probably not your ideal retirement haven.

Who Should Retire To Cuenca, Ecuador?

Cuenca is a colonial city where the cost of living is low and the cost of buying a home of your own is near rock-bottom. The health care is high quality, honest, and super-affordable. As in Medellin, the weather is "spring-like" year-round. Unlike Medellin (which is an emerging retirement haven rather than an established one like Cuenca), the city is home to one of the world's largest and fastest-growing communities of foreign retirees.

On the other hand, you have to remember that, charming as it can be, Cuenca is located in a poor, developing country. In this regard (and many others, too) Cuenca is the yang to Medellin's yin. In Cuenca, as throughout Ecuador, the standards of maintenance for roads, buildings, sidewalks, etc., won't be what you're probably used to and the hassle factor associated with any administrative task will be big.

Expats we know who are happy living in Cuenca are able to consider these annoyances fair exchange for the simple, 1950's lifestyle the city offers. Walking around town (Cuenca is a place where you could live comfortably without owning a car), you'll get to know the shop owners and your neighbors, who will all get to know you, too.

Cuenca will appeal to the expat who wants city life but who also has a sense of adventure and who is up for (rather than intimidated by) culture shock.

Who Should Retire To Puerto Vallarta, Mexico?

Romantic. That might be the best single word to describe Puerto Vallarta. The city also offers shopping and fine dining, boating and golfing, country clubs and community, gourmet shops and designer boutiques...all alongside a beautiful stretch of the Pacific Ocean.

Puerto Vallarta could be called glamorous, but the cost of living and of buying real estate here aren't jet-set. This is one of Mexico's most sophisticated resort spots, with more cachet than Mazatlán and more chic than Cancún. Walking around Vallarta, you get that happy, vacation-time feel that successful beach resorts exude.

And that's the would-be retiree overseas who should consider Puerto Vallarta--the beach-loving soul who likes the idea of retirement as a perpetual, fully appointed vacation.

Who Should Retire To El Cangrejo, Panama?

El Cangrejo is the expat hub of Panama City and a top choice for a comfortable, affordable, downtown-city-living experience. In El Cangrejo, you're smack-dab in the middle of everything Panama City has to offer.

This is one of the few neighborhoods in this city that is walkable and where you could get by without a car. It's also the only neighborhood in this city I'd describe as "cool." Over the years, El Cangrejo residents I've known have included a Chilean artist, a corporate transplant from Canada, many young Panamanians bucking the tradition of living with their parents through their 20s, retired hippies from the States, an entrepreneur from Serbia, and an Irish writer.

Panama City is the region's melting pot, and El Cangrejo is where the most interesting of the many transplants to this town choose to settle.

It's also Panama City's red-light district, the center of its prostitution (legal in this country) and casino trades. El Cangrejo's streets are lined with nightclubs and cafes, restaurants and pubs, plus low- and mid-rise apartment buildings. This isn't flashy Panama City (you find that in the high-rises along Avenida Balboa and in Punta Pacifico) and it isn't power Panama City (that's in Altos de Golf). El Cangrejo could be called the soul of this city, a good choice for the retiree with an open mind...

Who doesn't mind heat and humidity, congestion and traffic, noise and litter. These things, too, are all a part of the scene here.

Kathleen Peddicord
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Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

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