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Old 04-28-2015, 01:00 PM
 
13 posts, read 13,370 times
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After being laid off my job of over 25 years and getting the bad news that the job market for professional people is lousy if you are pushing 60, my desire for a new career type job is slowly going away.

My wife and I just may retire on shoe string until we can collect Social Security in a few years.

We figure we can liquidate all our assets by selling our home and lots of our possessions and come out with enough money that we can live on $2000 a month between us by taking an annual 5% distribution. It is not much money but maybe we can do it in a small town or maybe overseas.

How about Costa Rica or Ecuador? Can we live well in places like that for $2000 a month? Or could we have a similar standard of living in a place like Ocala FL or other low cost of living southern town? Please advise.
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Old 04-28-2015, 01:36 PM
 
2,296 posts, read 1,563,546 times
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Living overseas is a possibility, but is way oversold and can be difficult on many, many levels.
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Old 04-28-2015, 01:49 PM
 
519 posts, read 431,200 times
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At your budget, I would think the moving/one time start up expenses for a short period of time (you mentioned until SS) could be a real damper. Unless you are literally moving with a suit case...
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Old 04-28-2015, 02:17 PM
 
2,296 posts, read 1,563,546 times
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On the other hand if you are looking for a little adventure for just two years but plan on moving back to the US then (or stay in the foreign country if you like it)...sure...try it..but I'd go for like a month or two first to check out if that's what you REALLY want to do. Those places can be nice and novel to visit for a few weeks or a month, but that can change if you are doing it longer term. The novelty can really wear off.
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Old 04-28-2015, 03:48 PM
 
Location: Great State of Texas
86,093 posts, read 72,544,616 times
Reputation: 27566
Quote:
Originally Posted by great discussion View Post
After being laid off my job of over 25 years and getting the bad news that the job market for professional people is lousy if you are pushing 60, my desire for a new career type job is slowly going away.

My wife and I just may retire on shoe string until we can collect Social Security in a few years.

We figure we can liquidate all our assets by selling our home and lots of our possessions and come out with enough money that we can live on $2000 a month between us by taking an annual 5% distribution. It is not much money but maybe we can do it in a small town or maybe overseas.

How about Costa Rica or Ecuador? Can we live well in places like that for $2000 a month? Or could we have a similar standard of living in a place like Ocala FL or other low cost of living southern town? Please advise.
I would look for cheaper towns in the US first.

Start with states that have no income taxes.
Then with cities within those states that have never been mentioned on the "Top 10" places lists.

There are places you can live comfortably on $24K a year.
They are just off the beaten path.
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Old 04-28-2015, 03:50 PM
 
2,296 posts, read 1,563,546 times
Reputation: 2737
Quote:
Originally Posted by HappyTexan View Post
I would look for cheaper towns in the US first.

Start with states that have no income taxes.
Then with cities within those states that have never been mentioned on the "Top 10" places lists.

There are places you can live comfortably on $24K a year.
They are just off the beaten path.
Totally agree. Unless you want to use these two years to explore another country and don't necessarily plan on living there forever, there are plenty of places in the US you can live frugally for a couple of years. Places like Costa Rica are not cheap either and particularly if you want any kind of Western lifestyle even places like Thailand and SE Asia aren't that cheap necessarily. I know. Been there many times.
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Old 04-28-2015, 06:40 PM
 
Location: Orlando
2,002 posts, read 2,642,528 times
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You could certainly live on that amount in many Florida towns. Whether or not you could live WELL depends on your definition of living WELL.

This list gives you the median income of a number of Florida cities and towns. It's somewhat misleading, though, because it indicates that the median income of Tallahassee is under $19k, but having lived there I can tell you it would be tough getting by on that amount.

Florida locations by per capita income - Wikipedia, the free encyclopedia
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Old 04-28-2015, 06:59 PM
 
Location: USA
271 posts, read 315,124 times
Reputation: 153
Quote:
Originally Posted by great discussion View Post
After being laid off my job of over 25 years and getting the bad news that the job market for professional people is lousy if you are pushing 60, my desire for a new career type job is slowly going away.

My wife and I just may retire on shoe string until we can collect Social Security in a few years.

We figure we can liquidate all our assets by selling our home and lots of our possessions and come out with enough money that we can live on $2000 a month between us by taking an annual 5% distribution. It is not much money but maybe we can do it in a small town or maybe overseas.

How about Costa Rica or Ecuador? Can we live well in places like that for $2000 a month? Or could we have a similar standard of living in a place like Ocala FL or other low cost of living southern town? Please advise.

Equador is cheap Costa Rica is not
Overall Ocala will probably work the best just need to get the health care worked out.
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Old 04-28-2015, 08:51 PM
 
Location: CT
3,461 posts, read 1,858,038 times
Reputation: 4614
Quote:
Originally Posted by great discussion View Post
After being laid off my job of over 25 years and getting the bad news that the job market for professional people is lousy if you are pushing 60, my desire for a new career type job is slowly going away.

My wife and I just may retire on shoe string until we can collect Social Security in a few years.

We figure we can liquidate all our assets by selling our home and lots of our possessions and come out with enough money that we can live on $2000 a month between us by taking an annual 5% distribution. It is not much money but maybe we can do it in a small town or maybe overseas.

How about Costa Rica or Ecuador? Can we live well in places like that for $2000 a month? Or could we have a similar standard of living in a place like Ocala FL or other low cost of living southern town? Please advise.
Most of those "cheap" countries have pretty large parts of their population in poverty too, to live at a western standard of living costs western prices. I agree with others here, look within US, no language problems, you know how things work, closer to family(?). Both coasts, forget it, I'd look middle America in towns or cities that hold an interest for you. Good luck.
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Old 04-28-2015, 10:12 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,632 posts, read 39,998,659 times
Reputation: 23790
go for Ecuador or Columbia (while you are young and able / flexible / adaptable / adventurous / resilient).


I did 8 months in Thailand last yr (work related)

It is VERY ez to live there for $2k USD / month.

I was 2-3 hrs from Bangkok and in a beach rental for $400USD/ month (and traveled A LOT!... every weekend). Asia Air $25

Food is pretty cheap (for an expat living like a local)

I have NO IDEA how locals can afford to eat in many countries (Very high % of monthly spend is on food / cell phones...).

I really enjoy living overseas in a 'local' lifestyle. (Shopping / eating / transportation)

food MAY be cheaper in USA (ingredients / not eating out).

We have always ate / fed family for $100/ month. (when $100 food envelope gets empty, we get creative!)

BTW: 90% of the responses you get on C-D retirement forum are form people who have no interest / desire / need to economize and move overseas.. The C-D posters are those with enough time to post due to having a Gravy Train pension / retirement.

There are A LOT of very bitter souls here. (many ex fed / state workers)
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