Best Places In The World To Retire

The two natural disasters that are more likely to happen in Puerto Vallarta would be earthquakes and hurricanes. We have had tremors here in Puerto Vallarta, somewhere between a 5 and 5.5 magnitude earthquake, and at that time I was on the 6th floor of the building where I live. The building swayed during the tremor, but there was no damage to the building afterwards. 

 

You often don’t even notice that there has been a shake or an earthquake. We have an...

The two natural disasters that are more likely to happen in Puerto Vallarta would be earthquakes and hurricanes. We have had tremors here in Puerto Vallarta, somewhere between a 5 and 5.5 magnitude earthquake, and at that time I was on the 6th floor of the building where I live. The building swayed during the tremor, but there was no damage to the building afterwards. 

 

You often don’t even notice that there has been a shake or an earthquake. We have an online community here for expats, and oftentimes, everybody starts tweeting, “Did you feel that?” Most people say they didn’t notice it. We haven’t had anything catastrophic, but we certainly have had some swaying from time to time. 

 

For a girl from the prairies who never feels the swells and the tremors, it’s like, “Wow! This is neat! What is that?” It’s a funny thing because you should be afraid, but you’re really not. It’s just this little swaying. First, you’re questioning, “Am I feeling this?” By the time you figure it out, it’s over. Luckily, I have not experienced anything higher than the magnitude 5 or 6. I have a level of comfort here based on how buildings here are built to sway and to not crumble or be problematic. 

 

Hurricanes, on the other hand, are very interesting because when the supposedly largest hurricane of all time was supposed to hit our area in the Bay of Banderas, my husband and I hunkered down thinking that this could be “The Big One,” and had fortified ourselves in a small room. The building in which we live is completely concrete, so we figured we would try and stay at the back where there is no glass. We waited, and we were watching on “The News Channel” that said it was going to be category 6, which I believe is unheard of. 

 

We were watching the news and waiting for the hurricane to hit, but it never did. What was interesting about it is the way that the Bay of Banderas is configured. Hurricanes are unlikely to hit the Bay of Banderas. Because hurricanes tend to spin one direction, and the way the Bay of Banderas is formed is a different configuration that the hurricane would spin into, it would be very unlikely. 

 

There’s an arm on the south part of the bay that is a mountain, and when a hurricane does hit that mountain, the mountain takes the gusto out of the hurricane and out of the winds. 

 

The only big issues that we have had here in Vallarta are some swells of the water when there are hurricanes. We did have some damage back in the 90’s where the water swell had come up, causing the water in the ocean to come up and go into the pools. I remember that the Sheraton Hotel had had some flooding in the main level because it was built low. 

 

The swells from the 90’s caused some damage to the streets of Vallarta from the water coming up. The biggest thing here would be if we had a hurricane and we ended up with a swell that would come up, but in the 8 years that I’ve lived here, I have not seen any swells, and even prior to living here, when I was still visiting Puerto Vallarta, there was only that one swell that had come up. Vallarta was built again within a month after that swell, and we were all back to business.

 

(Costalegre  near Puerto Vallarta, Mexico, pictured.)

My dear Newcomer,

 

If you would like a pretty picture of the Panamanian economy, ask a local economist seeking foreign investments.

 

The Panamanian economy is based on US dollar, as the preferred exchange currency with the Balboa on an even value.  Panama has lower than mainland US labor cost, so it appeals to or lures foreign investors seeking English-speaking employees.

 

But where the rubber meets the road,...

My dear Newcomer,

 

If you would like a pretty picture of the Panamanian economy, ask a local economist seeking foreign investments.

 

The Panamanian economy is based on US dollar, as the preferred exchange currency with the Balboa on an even value.  Panama has lower than mainland US labor cost, so it appeals to or lures foreign investors seeking English-speaking employees.

 

But where the rubber meets the road, Panama has to import more than what it exports, so Panamanians have to pay absurd prices for quality durable goods and they don't get even US minimum wage with a college engineering degree.  The above creates and fuels poverty and despair.

 

With all that said, it all depends on which side of the tracks your are standing financially, like anywhere else.  The Isthmus of Panama has cities rated in the top 10 places to live in the world, which is based on cost of living, quality products & services, friendly people, closeness to  medical centers and an overall quality of life that surpasses anywhere else.

 

(Plaza de Francia, in honor of the workers and the French engineers who participated in the building of the Panama Canal, pictured.)

 

The cost of living in Corozal is widely variable. Living shelter in Corozal is relatively inexpensive. Many expats choose to build a house versus renting one.
 
There is a limited supply of house rentals available that would meet most expat expectations, especially long-term rentals, but this situation is beginning to change. There are more and more rental houses being built. We're in the process of building some ourselves.
 
Property taxes in Belize are miniscule...

The cost of living in Corozal is widely variable. Living shelter in Corozal is relatively inexpensive. Many expats choose to build a house versus renting one.
 
There is a limited supply of house rentals available that would meet most expat expectations, especially long-term rentals, but this situation is beginning to change. There are more and more rental houses being built. We're in the process of building some ourselves.
 
Property taxes in Belize are miniscule compared to the United States. However, this may change because the Belize government is currently looking at different ways to improve revenue growth, which they would need to do to invest in infrastructure development.
 
Once you have a property built in Corozal, then your cost of living is relatively inexpensive because you're only left with utilities. However, electricity cost is fairly expensive because the majority of it is still generated by petrochemical-fired generators, whether diesel or gasoline, but it's mostly diesel. Belize does buy some power from some of the neighboring countries, particularly Mexico.
 
Water in Corozal is not expensive, but the quality is questionable. It's fine for bathing and washing. For drinking water, I would recommend to either filter it or buy purified water.
 
Food is extremely inexpensive in Corozal. You can buy a humongous sack of fresh vegetables at the local market for US $10. Beef is a little more expensive. Chicken and pork are still pretty cheap and the staple of the Belizean diet.
 
They do not have a lot of beef, but this is starting to change as there has been a little bit more beef production that the Mennonites are starting to get into. They're developing cold storage, which will allow the meat to age out properly and be a lot more palatable, too. Guys like me from Texas are used to really good beef.
 
If you're going to be driving around Corozal, gasoline is pretty expensive. Currently, it is around $5 a gallon. I would highly recommend a fuel-efficient vehicle or a diesel one.
 
Getting vehicles fixed in Corozal is pretty cheap, with the exception of some of the parts because they would need to be imported. We often go to Mexico, pick up whatever vehicle parts we need, and bring these back in to Belize, but we pay duty taxes for these parts. The amount of duty tax depends on what the vehicle part is.
 
In Corozal, US $4,000 a month would translate into a very nice lifestyle. You could certainly afford all your basic needs and would have plenty left over for any enjoyment that you may want to do.
 
If you had $2,000 a month, don't go out all the time, and cook most of your meals at home, then you'd certainly live very well in Corozal. You couldn't be a party animal, but you certainly would have some discretionary income left over after you've paid your bills and took care of basics. For $800, you could get a nice, spacious apartment that's not in an older complex that would not have some sketchy people living there as well.
 
In contrast, in Dallas, Texas, $2,000 a month would not be enough. You're going to be living in a tiny apartment somewhere, which is going to cost a minimum of $800 to $900 a month. If you're making car payments, plus the cost of your food, you're not going to have anything left over for any discretionary spending.

 

(Ed Parrish setting up his new house on the beach of Corozal, Belize, pictured. )