Born in 1970
I’m not sure what generation I am. Is it X or Y or Z? I know I’m not a baby boomer as I’m still in my 40s. But one thing I do know for sure is that retirement is going to be far harder for my generation than the generations that have gone before.
You’re probably tired of seeing all the talk in the press. How large percentages of us have not saved enough for our retirement. How we’re going to have to work into our 70s or older. How our pension numbers just don’t work. The bad press rumbles on.
Quite frankly I’m bored with it. Sure my retirement nest egg was ravaged in the financial crisis. Yes the cost of living is going up and good jobs are harder to find, but one thing is certain: I’m not going to scale down my retirement dreams.
I’m just going to have to get a bit creative.
For as long as I can remember I’ve dreamed of an ocean side retirement home that’s close to a golf course. Even thought real estate prices have fallen across many states, I’ll still not sure that I can afford the kind of property that I am after in the US. I also cringe at how expensive it is to live here.
So I’m broadening my perspective overseas. I’ve got Central America in my sights. I’ve been reading sites like International Living and Reveal Real Estate and run some numbers. Not only is real estate far more affordable but so is the cost of living. In Nicaragua for example a number of expats kept a close eye on their monthly living costs and reported back that they can live a life of luxury for less than $1,000 a month.
And I do mean a life of luxury. Most of them have a full time maid or gardener (yes full time). They don’t scrimp on eating out (after all a fish dinner for two with a view of the ocean is often less than $10) or going to the movies (a first run movie release for $2 anyone?). Entertainment, utility costs and transport are all far cheaper than in the US. So are real estate taxes for that matter.
My next step: Heading to Central America to check things out for myself.
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