How to Retire Comfortably for Under $1,500 a Month

Yahoo! Finance ^ | 8/10/2010 | Kathleen Peddicord

[cll]

Jason and Elizabeth Pearce moved from Canada to Belize three years ago. They bought a piece of property on the sea. A year later, they built a house. Today, they live in a beautiful Santa Fe adobe-style home with gardens all around.

The pair lives very comfortably, without wants or financial worries. They've had no trouble making friends in their new community because the folks in Belize speak English. They eat out three or four times a week. They barbecue lobster and filet mignon at home. They have reliable Internet to keep them connected to the outside world.

By choice, they do not have a television. "I used to think that the news was important," Jason explains. "But not anymore." The retired couple has a maid and a gardener, each of whom visit once a week. And here's the best part. Jason and his wife are living on their Social Security income alone.

In fact, they're living on Jason's Social Security income alone. Elizabeth's Social Security check goes into savings each month. Everyone's spending habits are different, but here's a sample monthly budget for a couple living a comfortable expatriate lifestyle in Belize:

--Rent: $300

--Utilities, telephone, and Internet: $500 (Your biggest expense in this country.)

--Groceries: $150

--Health insurance: $50

--Entertainment: $100

--Car expenses: $300

One of the most appealing things about Belize as an overseas retirement choice is that it can make sense even if you're nowhere near conventional retirement age. Through Belize's Qualified Retired Persons program you can establish foreign residency as young as age 40. Belize is a beautiful little country. It's a peaceful, eco-tourist retreat home to more than 540 species of birds, 4,000 species of flowering plants, and 700 kinds of trees.

[EBH]

I have just a really dumb question...

what happens when the bottom falls out of America?

What happens to this couple in Belize living off their Social Security Checks, when the checks stop coming?

[maddog55]

Phillipines

[AlexW]

“what happens when the bottom falls out of America?”

That is a normal question, and one that plays on my mind
all the time.
If Social Security crashes, I am in far better shape here, then I would be in America.
I have $5000 backup money, and I could actually start living like the locals on $100 per month, or less.
Here, I have zero energy cost, other then electricity
at about $40 per month.
Here, people take care of each other.

I gather that you are not on Social Security, or you would be answering your own question.

[GGpaX4DumpedTea]

I think my brother and his wife have their property in the Sebu area.

[Cheetahcat]

“I think my brother and his wife have their property in the Sebu area.”

When I married my Wife, I also got a very large very close family in the bargain and anything we need there is some aunt or uncle in that business ,they made me feel well at home there,she likes the mountains and it is cool up there.