[beachmouse]

If you're willing to go foreign, I've also heard good things about Panama. Seems to be safer than Mexico right now, sizeable stable native-born middle class, and a US-style health care infrastructure. If you can show you've got a $1,000/month pension or assets that would generate that, their retiree visa and its benefits can work well for some people.

[ACTS Mom]

Maybe you can find something close to your price range by looking into foreclosed homes and properties. I saw some condos on the news the other night for $48k that were selling for $250k a couple of years ago. Have no clue what the maintenance fees per month might be on those though. But $20k is not much for any place...most empty lots cost more than that even in this deep recession.

And it's not always 50 degrees or higher in Central Florida. We had several freezes this year with temps in the 20's. Killed almost everything in our yard, but it's coming back nicely now. At least the cold snaps don't last long.

But the farther south you go, you'll likely pay more for housing. Maybe look at some 'for sale by owner' properties and see what you come up with.

If I were as miserable as you are, I'd be looking for a place to move, too. You only have one life -- live it! But visit before you buy anywhere.

[FlaRan]

There are a ton of bank-owned foreclosures there and if you are willing to do the work, you probably can get a deal. Find an agent that specializes in that area and take a look. I heard about a single family home with a pool on a great street that sold for 40k. A couple from someplace cold drove down in an RV and have been doing the rehab work themselves.

Regarding living on 200k, I am not so sure. There is much to think about. You could potentially live a very long time. Would you have enough to pay for healthcare? How about long-term care? There is forum I like that talks about these very issues. Check out Early Retirement & Financial Independence Community.

Good luck in your journey.

[Southlander]

Originally Posted by linc

By the way, Alabama doesn't have property taxes.

Where did you get that?
Alabama does have property taxes. You can be exempted if you are over a certain age and have a lower income. Can't tell you the exact number, but my 82-year-old mother was NOT exempted because her income (from social security and dividends) was not low enough.

Certain kinds of federal retirement payments are exempted.

BUT - we do have low property taxes.

[linc]

Originally Posted by Southlander

Where did you get that?
Alabama does have property taxes. You can be exempted if you are over a certain age and have a lower income. Can't tell you the exact number, but my 82-year-old mother was NOT exempted because her income (from social security and dividends) was not low enough.

Certain kinds of federal retirement payments are exempted.

BUT - we do have low property taxes.

You're right. Sorry about that. I meant to say Alabama has LOW property taxes, but Florida has no state income tax. I must have been tired.

[After55atlanta]

Atlanta is a warm place that you can retire to. Try this site for more information - It is a new site and will be growing fast!.

After55Atlanta

[xz2y]

Originally Posted by beachmouse

If you're willing to go foreign, I've also heard good things about Panama. Seems to be safer than Mexico right now, sizeable stable native-born middle class, and a US-style health care infrastructure. If you can show you've got a $1,000/month pension or assets that would generate that, their retiree visa and its benefits can work well for some people.

The question is whether you can actually live on $1000/month in Panama. Does anyone know?

[RVlover]

'So, just to warp this up… Am I crazy for entertaining this notion? If you were in my shoes with everything I’ve described, ($200k, single, modest needs, semi old farthood, etc.) where would you go and what would you do? I don’t expect any mind-blowing answers… just curious to hear your thoughts.

Thanks!'

REPLY: Im 55 and just semi retired here in the Florida Panhandle . I have less money than $200 k left over after buying a cheap Mobile Home on an acre of land out in the woods. But, like you., im about to take on a part time job soon for some income and in 7 years hopefully collect SS to the tune of $1600/month. My goal was to buy cheap down here , put a bit of money into fixing it up the way I wanted it, and to have alot of money left over to live off of. Its working out great. Im single like you with no dependants. Homes are pretty darn inexpensive compared to up north and property taxes are silly cheap especially unincorporated out in the woods...which is a SUPER place to live , at least for me. I love my privacy and quiet . Im just 11 miles to a larger town . I too am fed up with 49 Illinois winters where your stuck inside for almost half a year. It was depressing. Im loving it here in Florida and the people are much nicer. Ive adapted very quickly to a new area and things are coming together well.

Id encourage you to take a week or so and visit The Panhandle of Florida where things are cheaper than the rest of the State and the beaches are second to none. Lots to do, see, explore, etc... a great place for a retiree who has some cash behind him. Good luck.

[RVlover]

P.S. I paid $58,500 for my 3 bedroom Mobile Home which needed about $5 k. in misc. things . My property taxes are a measily $99 per year . Thats cheap living ! The area is average..certainly not dumpy . Theres so many great deals to be had here with the economy and youll find your money goes ALOT further here than up north . A conventional 3 bedroom home , incorporated, around here runs about $100,000 if you want something a bit more substantial , just to give you an idea. Im located 1 hour east of Pensacola, Fl.

[impala666]

Originally Posted by xz2y

The question is whether you can actually live on $1000/month in Panama. Does anyone know?

If you want to live like a local probably but as a foreigner you will have to pay the cops every step of the way.
Panama is OK for very rich people.