Where to Retire

Haven't been keeping this blog up to date, but  outside of work it really hasn't been a lot going on.  Johnie and I have really talked a lot about where would be a good place to retire.  The US was first on my list, but the cost of living would leave us strapped financially.  And finances are a real consideration.  Language is not an issue, and this left a continent open to us.  We both liked Argentina, but they offer very little incentive for retirees.  While I was not able to get a definitive answer, it seemed that the Argentinian govt charged taxes on income brought in.  And they tax your furniture etc and you can't bring in some things like tvs.  And since Uncle will also tax my retirement, Argentina had a definite drawback. Long and the short, Argentina was dropped from the list.

So we went looking for other places that had things to do and an agreeable climate.  That pretty much took Panama, my wife's country, out of the running.  The climate is hot and humid.  Volcan has a nice climate, but not much to do.  Boquete is too much like living in the US.  We have decided on Ecuador. Actually, an easy choice as we have lived here (in Quito) since August 2006.

A couple of weeks ago we went to Cuenca to make a last visit before we decided.  We had the opportunity to meet some of the expats there.  Gerard, Larry and Leslie were very helpful.  Had the opportunity to look at a lot of neighborhoods and a couple of houses. Cuenca seems to fit the bill.  And so, Cuenca it is.

In October my wife will go to Cuenca to look for a residence for us and rent it.  We are looking for a house as we are bring our "commadre" and "hijado" with us. 

We will use November to do any painting etc that has to be done and in the beginning of December we will have our pack out.  Some of our stuff will go to the kids and the rest will come with us.

Next, hopes and dreams for retirement.

Health Insurance Increase.

One of the benefits of working for the US Government is that we can carry our healthcare insurance into retirement.  There are a few caveats.  The amount is deducted from the pension in post tax dollars after retirement.  Pre-retirement the cost is deducted pretax.  And it is for the monthly amount. This has made us think long and hard about how to budget for the month.  

As part of the retirement the agency I work for gave me a rough estimate of  my pension and the deductions.  Yesterday they wrote to inform me that there was a change in my health insurance costs.  It went up from $276 to $396.  This is no gold plan, just a standard option for family. 

Of course, what this means is $120 less each month for other expenses.  I want to thank all those representatives and senators who think that my freedom to chose a plan is more important than my ability to pay for the plan.  As we get older our health care needs will increase.  But if the costs keep going up, I won't be able to afford the plan.  Hey, maybe that is the plan...

Moving to Retirement

In August 2006 my wife and I moved from the Atlanta, GA area to Quito. We had lived in the Atlanta area for 10 years. Previous to Atlanta we have lived (and worked) in Guatemala, Virginia and Panamá.

When we moved here we never thought much of retirement. Kinda work till I die mentality. But time and age brings all of us to a point where the work is a chore and other things call to me. So we have begun the process of getting ready for retirement.

First step: Boss, that whole thing about re-upping for two more years...not going to happen. Advertise the job as I am out of here in December 2010. DONE! (Uncle allows his workers the freedom to do that. Not sure about the private sector)

Second Step: Where to retire that will allow us to not be greeters at WALMART and live on dry cat food. At this point not real sure. We have narrowed the field to Cuenca, Mendoza, AR and Chile. Leaning toward Cuenca - but that will be another blog entry.

Third Step: What to do with free time. In the blog, Our Ecuador, Bill and Loretta write about this subject. Hope they keep addressing that question. Others share their lives and tell us how they handle retirement.

Comments are always welcome.

Mike and Johnie