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Why Not Nicaragua?

Kathleen Peddicord by Kathleen Peddicord
May 27, 2009
in Nicaragua, Retirement/Living
0
aerial view of the lush coastline of Nicaragua

Why Not Nicaragua?

“Kathleen, you write much about Nicaragua as a possibility for retirement,” writes reader David M. from the United States.

“I am in agreement for the most part. However, as opposed to Panama, about which you are very frank concerning the downsides, I have not read anything about the problems in Nicaragua.

“Most prominent in my mind is the shortage of electricity. The country’s electrical system is a mess. Before the Sandinistas came to power, the electrical system was sold to a Spanish transnational. The last time I was in the country, there were random blackouts, unannounced and sometimes lasting many hours.

“Friends who live in Nicaragua say that the situation has improved somewhat. There are still blackouts, but they are scheduled, which at least allows people to make alternative arrangements…”

Should you live, retire, or invest in Nicaragua?

And, if not…why not?

I’ve been investing in Nicaragua for more than a dozen years. I own several pieces of land in the country, as well as a little house overlooking the lake outside Granada. And I’d invest further today if presented with the right opportunity.

Furthermore, Nicaragua figures in our long-term plan. It’s one of the places we’ve put on our “retirement radar”…one of the places Lief and I plan to return to regularly once we’ve flipped the switch to the retirement phase of our lives.

In other words, I’m sold on this little country with such a big heart…this land of lakes and volcanoes that also boasts a beautiful Pacific coast and the most romantic city in the Americas (colonial Granada).

But here are good reasons why you might take a different position:

  • As the dear reader above explains, the infrastructure in Nicaragua is unreliable and under-developed. Not only the electricity (the supply of which, as your fellow readers points out, is cut off with some regularity), but also telephone and Internet. Don’t move to Nicaragua to be a day-trader.
  • Many of the roads in Nicaragua are dirt. And rutted. And impassable when it rains. Some of our best “Do you remember the time…” stories have to do with trying to travel Nicaragua’s dirt roads during the rainy season.
  • Nicaragua is a little country. Its capital and biggest city, Managua, is a small town. You can get what you need…but you can’t always get what you want.
  • That is to say, don’t move to Nicaragua for a life of luxury. In Nicaragua, you’ll enjoy a life of adventure in a land of beauty. But this is one place where you can’t live the high life, no matter how much you’re willing to spend trying.

These are reasons you might not enjoy living (in retirement or otherwise) in Nicaragua. Here are two more why you might not want to invest in this country either:

  • Clean title. The piece of real estate the guy you met in the bar in San Juan del Sur is trying to sell you might not have it. Before you buy any piece of property in this country, make sure you understand the history of its ownership. Was it ever cooperativa land, for example? Bottom line, if you decide you’re comfortable investing in this country, don’t do it without investing, as well, in title insurance. (For this, I recommend First American Title, www.firstam.com.)
  • President Daniel Ortega. Sandinista Danny makes people nervous. When he was re-elected in 2006, foreign investors pulled out quick and have taken a sidelines position since. So far, El Presidente hasn’t done anything to cause any trouble…except buddy up publicly with Hugo Chavez. Again, some foreign investors see this as cause for concern. If the Ortega Factor keeps you up at night, put your money elsewhere until he’s out of office (in about 2 ½ more years).

Kathleen Peddicord

P.S. As I said, I’ve been infatuated unashamedly with Nicaragua since I first laid eyes on the place, power outages and Sandinista politics notwithstanding. In fact, following my most recent visit, I was smitten all over again…

Discover An Incredible Opportunity To Invest In Colombia's Dynamic And Growing Tourism Capital Of Cartagena

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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