“Kathleen, in one newsletter you mentioned Las Terrenas in the Dominican Republic as a great place to retire with income of US$2,000 per month. I will have about US$1,350 per month income in retirement. Could that work for me?”
–Deborah D., United States
If you have the capital to buy an apartment, then, yes, that could work. A budget of US$1,350 per month would be too tight in Las Terrenas if it had to cover all expenses including housing. However, if your housing cost is covered (because you own your own home), then, yes, you’d be ok.
This is true anywhere. Housing is typically your biggest expense in retirement. If you’re able to purchase a place to live in the location where you eventually want to settle, then you can rent it out between the time you buy and the time you’re ready to retire. Then you can settle in for a rent-free retirement.
The Dominican Republic is one of the destinations we’ll be featuring in Orlando next week. Our woman on the ground in Las Terrenas, Helen Mitchell, will be among the more than 70 experts, expats, correspondents, and colleagues joining us for this year’s Retire Overseas Conference, the biggest event in our history.
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