Nov 21, 2005, 9:59 AM
Post #58 of 62
A quick introduction as this is my first post. I am 56 and my husband is 59. We live in a suburb of Portland, Oregon. My husband is tired and needs to retire now. We have set a date of September 1, 2006. With our retirement income potential we cannot reasonably expect to retire NOB without severe cutbacks in our lifestyle, and I do not think we have a grand lifestyle as it is. I spent much time looking at retiring in the Dominican Republic, but finally decided against it because of the country's electricity supply problems and costs. Two weeks ago I started looking at Mexico, though it does not have the tax advantages that the DR (and many other countries) has.
The figures included here are much more useful than those I found on a DR site because they are from this year and not years ago. I think I can cull the cost of living from the various postings. What I did not see here was the cost of Mexican income taxes. I am still a bit confused about this.
We will be in PV in two weeks to go exploring. We have never been to Mexico, or anywhere for that matter, but feel we have enough of an adventurous spirit to handle a very different culture. In considering a move to Mexico or any where, I cannot consider the mountains. I hate the mountains and love the ocean. So, it appears we may not be able to make Mexico our choice, but we still have much more to explore.
Someone asked about renting condos that have all the services. There is a new one being built in PV that will meet those requirements. A friend of a friend bought one of the units in it for about $200k USD and it is 1400 sq ft.
People are also asking about costs NOB, here is part of my budget. All figures are USD.
Average Metro Portland, Oregon
Natural Gas 125.00
Verizon DSL 33.00
City Water 60.00
Comcast Cable 48.00
Nextel (1) 66.00
Property Taxes 204.00
Home Ins 41.00
Car insurance 102.00
Insurance co-pay 115.00
Dr Appt co-pay 15.00
Dental co-pay 35.00
Rx co-pay 60.00
The housing cost is based on a 2020 sq ft home. The value is about $335,000. A 1250 sq ft home around the corner this week sold for $227,500.
US health insurance for my husband and I (until he is eligible for Medicare 5 years after we retire) would be around $1,000 per month, and then I will have to pay for health insurance another 4 years before I am eligible for Medicare. That is if we can get health insurance.
What is not included is the $1,100+ my husband spent on his truck last week and the $600 on my vehicle the same day. Also, the $1,000+ we spent on one of our pets in September who was deathly ill. This year we had to replace the dishwasher for nearly $500 and I cannot remember all the other unusual expenses, except I was in an accident in February and had Dr visits, therapy visits, and prescriptions that exceed the averages mentioned above. The $50k hospital bills was 100% covered by Kaiser.
Presently, I do not know how much we spend on cigarettes, groceries, and clothing. A wild guess is about $1,000. Gasoline was a high of $2.89 a few months ago down to $2.35 last week. I do not drive much any longer and my husband's gas is provided by his company so I do not have an estimate on that cost.
One of the things I am trying to figure out is what do we move and what do we buy upon arrival. We are thinking that my '97 Explorer with 76,000 miles would be good to move, but my husband's F150 SC 4x with 120,000 miles is not a good idea. We think we can probably do with one vehicle when we move.
As a side note here, I am going to start another thread and ask about golf. That is my husband's passion and we need a location that has several inexpensive golf courses.
Thank you for all the information.
Is anyone in or around PV who would like to meet for a cocktail in a couple of weeks?
Metro Portland, Oregon