$1600 /mo enough to live in south america?

Travel Forums Central/South America & The Caribbean $1600 /mo enough to live in south america?

Page
  • 1
  • 2
Last Post
1. Posted by qmuddy2 (Budding Member 3 posts) 6y Star this if you like it!

$1600 /mo social security: is this enough to retire on in south america ? thanks exchange rate ?

2. Posted by karazyal (Travel Guru 4768 posts) 6y Star this if you like it!

South America is pretty big! You must first do some research for what country in S.A. you want to stay in. Then you must look into the visa requirements for that country. You just can't show up and stay as long as you want!

Each country has their own currency. Decide on a country and then do a Google search for exchange rates.

You can start with something as simple as a Google search. Samples for "cheapest and safest country in south america for expat" below:
http://vivatropical.com/nicaragua/where-expats-live-in-central-america/
http://www.southamericaliving.com/where-in-south-america-can-i-live-on-650-usd-per-month/
Etc.

Always keep safety in mind. Don't burn your bridges behind you. Have more than one debit card for spending money. Have credit cards for emergencies that may come up and look into some sort of health insurance for when you get seriously sick. For many countries there are usually Expat Forums you can look over. Sample for Costa Rica below:
http://www.expatfocus.com/expatriate-forums-costa-rica

My guess is that at retirement age you also have some savings to fall back on and perhaps another retirement pension other than just the SS money.

Always think safety first! My advice is to visit first and talk to other expats and see what they say. Maybe visit more than one country then decide.

  • * I have never lived in South America. At various times in the military and retired I have lived in several other countries. Most recently living in Thailand off and on for 20 years.

3. Posted by OldPro (Inactive 400 posts) 6y Star this if you like it!

Quoting qmuddy2

$1600 /mo social security: is this enough to retire on in south america ? thanks exchange rate ?

Define 'live'.

The answer is yes, people live on $1600 or less in some parts of S. America. Just as some in N. America do. The question is do you want to live the way they do. Your question is far too simplistic.

As for exchange rates, you do know they vary every day right? So what does a rate that is applicable today tell you about what a rate might be next year? Answer, absolutely nothing. If you look up HISTORICAL exchange rates you will find that lots of currencies fluctuate by large percentages over periods of time. Just look at the US to Canada exchange rates over the last 10 years or the UK to Euro rates as examples. So let's say your $1600 gets you 2000 X today, it could get you 1500 x this time next year. In other words a 25% drop in income. That is a factor that anyone moving to another country has to prepare for. In the last year as a result of Brexit, the UK pound has lost 15% in value and is likely to continue to decline for the next several years. What do retirees from there do about that?

The closer to the bone someone is living, the less room to maneuver they have in all ways.

4. Posted by CheersT (Inactive 2578 posts) 6y Star this if you like it!

Quoting qmuddy2

$1600 /mo social security: is this enough to retire on in south america ? thanks exchange rate ?

South America is not a country. It's a continent made up of 12 different and distinct countries, all with their own currencies and exchange rates and a cost of living that can vary wildly between different locations.

You need to do a lot of Googling and hanging out on ex-pat forums.

Good luck with your research.

Post 5 was removed by a moderator
6. Posted by karazyal (Travel Guru 4768 posts) 6y Star this if you like it!

So, have you narrowed down any particular country to visit/retire/live in yet?

7. Posted by Utrecht (Moderator 5777 posts) 6y Star this if you like it!

It's still the same here and on many other forums: people come here with one stupid question, too lazy to just make complete sentences.

And then after several good replies of people who make an effort: no replies or answers whatsoever. These new 'members' can just be inactivated completely, totally useless selfish characters.

8. Posted by OldPro (Inactive 400 posts) 6y Star this if you like it!

I wonder sometimes, how many don't know that a forum is not a chat room. They expect instant answers and don't plan on returning at all to begin with.

I've also started wondering if there is really any point to forums any more. All the answers and all the questions have already been answered and asked many times. All that is needed is a good Google search and some reading. Asking the questions yet again is indeed simply a selfish way of avoiding finding the answers for yourself. Of course that also makes the people who answer them yet again, pretty stupid to be doing so. UNLESS of course the reason for being here is a SELFISH reason as well. Think about it.;)

9. Posted by hummingbird500 (Budding Member 40 posts) 6y Star this if you like it!

This question of money is something I have also been wondering about.

I have wanted to live in South America for a year or more since I was a girl. I may finally see this opportunity... I have applied for numerous fellowships and programs across the region. I think I could feel peaceful in the Dominican Republic but I also have several contacts in Colombia that I could have a job with. Which is best, do you think?...

As far as the money, do you believe $600 USD / month is enough to live in Bogota or Santo Domingo? This is the general stipend from the programs I have applied for. Should I bring much extra money?

Thanks,

Hummingbird

...Tanto lo quería,
Que, tardé, en aprender
a olvidarlo, diecinueve días
Y infinitas noches...

[ Edit: Edited on 07-Nov-2016, at 19:08 by hummingbird500 ]

10. Posted by hummingbird500 (Budding Member 40 posts) 6y Star this if you like it!

Anyone can help?