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Old 25-06-2019, 14:19   #331
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Re: Places Where You Can Retire on $200,000 and Feel Rich

I see a lot of comments (all good comments) about financials and some about doctors, etc. I don't however see a lot about adapting to the local way of doing things. Often it is a very different way of doing things and that can be difficult for some people to deal with.


A friend of mine retired to Costa Rican and married a local woman who was a school teacher. He enjoyed himself however it was very difficult for him to deal with the pace of doing business. He wanted to start a business and he said not just the pace of getting things done, but the way things were handled were very difficult to deal with.


While he enjoyed Costa Rica, he and his family now live in Florida where things are familiar. This is not to say that one cannot adapt, but one must be prepared to change. When I was in the Army in Germany, there were differences I had to deal with even though it was a western first world nation. I adapted and loved it, however I was prepared to make changes and wasn't going to demand they adapt to me.
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Old 25-06-2019, 15:17   #332
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Completely agree. I speak from a Canadian perspective. Given American healthcare insurance costs, Iím amazed any middle class person can chose a cruising life.

Hi Mike. It is scary enough from an individual perspective, but even scarier for the nation as a whole. In 1930, Americans spent $23 per person and 3.5 percent of the Gross Domestic Product. In 2015 we spent about $9,536 per person and 15 percent of GDP. Adjusted for inflation, this means that per capita medical costs in the United States have risen by a factor of 30 in 90 years. Ouch!
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Old 25-06-2019, 15:25   #333
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Re: Places Where You Can Retire on $200,000 and Feel Rich

Very true, cultural adaptation can be a challenge. Ive seen many wannabe expats not make the transition. When I lived in Belize, which can be an especially frustrating place, it was pretty common for new expats to flame out in a year or less and pack it up.

Ive lived in several countries and each required different adaptations. If you cant roll with it, you will just get frustrated and leave...many do.
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Old 25-06-2019, 15:39   #334
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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While collateral is important, there are still significant risks to the lender. In particular, the collateral may not be available to seize at the time of default. Additionally, the value of the collateral may be greatly reduced. The collateral is usually worth more to the borrower than to the lender.
True, which is why banks Iíve dealt with demand that people who take out major loans also purchase default insurance ó at the borrowerís cost. When I bought my last boat my lender (a credit union) insisted I purchase default insurance. I refused, and eventually succeeded in getting the loan without it. But it was only b/c I was such a good customer, and was willing to walk away.

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Well that's me!!!!! I have carried a balance on my credit cards for 30+ years. Yet I consider myself debt free the last 10 years as I pay off the statement balance every month. But that doesn't make my current balance 0. It does however result in $0 interest charges and free cash back and an 830+ score.
The data is for people who carry balances over the grace period. In other words people who pay interest on their CC purchases. You (and I) are the exception, not the rule.
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Old 25-06-2019, 15:52   #335
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Spot on. We just won a major victory here in NY State. We are now allowed to charge different prices for cash versus credit cards. People using credit cards cost me a significant amount of money. What many don't realize is that Visa/MC are often as expensive to the vendor as AMEX. Yes, Visa?MC can be 1.75% but if it is a corporate card, then it is the same as AMEX or 3.5%. This doesn't include charge backs, costs directly to Visa/MC and other expenses. The reality is it can be well over 5%.
Glad to hear of the victories Dave. As far as Iíve heard, up here the credit card companies have successfully fought off most attempts by consumers and retailers to offer different prices. I know some smaller, independent retailers do manage to offer a cash price and a credit card price, but this is the exception.

Itís utterly ridiculous that I, as a non-high end credit card user, should have to pay a higher cost just so some people can collect all the points, or miles, or cash-backs. You want those things ó you should have to pay for them.

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Hi Mike. It is scary enough from an individual perspective, but even scarier for the nation as a whole. In 1930, Americans spent $23 per person and 3.5 percent of the Gross Domestic Product. In 2015 we spent about $9,536 per person and 15 percent of GDP. Adjusted for inflation, this means that per capita medical costs in the United States have risen by a factor of 30 in 90 years. Ouch!
Scary indeed. Like I said, I really donít know how the average American ever goes cruising. The typical healthcare insurance costs I routinely see quoted here seem astronomical to me. There is no way I could live my current vagabond lifestyle if I had to pay these costs.
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Old 25-06-2019, 16:06   #336
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Re: Places Where You Can Retire on $200,000 and Feel Rich

When I owned a business I hated the lost money due to credit fees I got charged. But I hated those less than when someone wrote me a bad check and I lost money PLUS a bank fee.
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Old 25-06-2019, 16:10   #337
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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When I owned a business I hated the lost money due to credit fees I got charged. But I hated those less than when someone wrote me a bad check and I lost money PLUS a bank fee.
Very true. The good news is that today the debit card has mostly removed the bad check issue since it deposits cash (Well, not really cash. It is a credit and a promise to pay me cash when I ask for it.) into my account directly.
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Old 25-06-2019, 16:13   #338
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Places Where You Can Retire on $200,000 and Feel Rich

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Originally Posted by Mike OReilly View Post

Scary indeed. Like I said, I really donít know how the average American ever goes cruising. The typical healthcare insurance costs I routinely see quoted here seem astronomical to me. There is no way I could live my current vagabond lifestyle if I had to pay these costs.


Mike, you bring this up a lot, I think your a victim of the ďfake newsĒ.
There are ways around that, many ways.
I did it with a Military Retirement, many do it other Government retirements, then finally ask SB what his Health Insurence costs are, and for those over 65, there is Medicare, which Iím not familiar with as Iím not there yet.

Itís like a College education, again the news would have you believe you canít get one without a huge loan, which is nonsense, true you canít live a high standard of living, driving a new expensive car and wear expensive clothes and not work if you donít borrow a huge amount of money.

I have a daughter in College, she is a Jr this year, she drives our 10 yr old Prius, and works full time and lives in the cheap closet sized dorm room, and goes to an inexpensive in state tuition school and keeps her grades up so that she can get the Hope Scholarship and she gets the Pell grant.
She has no debt and we ďhelpĒ her really not all that much.
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Old 25-06-2019, 16:16   #339
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Mike, you bring this up a lot, I think your a victim of the ďfake newsĒ.
There are ways around that, many ways.
Could be Ö I get this news from CF after all .
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Old 25-06-2019, 16:20   #340
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Could be Ö I get this news from CF after all .
Well it MUST be true then as itís on the Internet plus a boating forum
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Old 25-06-2019, 16:30   #341
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Well it MUST be true then as itís on the Internet plus a boating forum
ButÖ this is CF. Are you suggesting contributors arenít telling the truth about how much they pay for health insurance?? Couldnít be .
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Old 25-06-2019, 16:41   #342
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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ButÖ this is CF. Are you suggesting contributors arenít telling the truth about how much they pay for health insurance?? Couldnít be .
No itís true, ..........for them
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Old 25-06-2019, 17:30   #343
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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It is true that the banks reap the majority of the reward, but they are assuming all of the risk.

Really? As far as I remember from the GFC the banks were bailed out with $700 Billion of US Tax payers money! All with no accountability for how it was used.



That was the biggest robbery in history in plain site!
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Old 25-06-2019, 17:39   #344
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Really? As far as I remember from the GFC the banks were bailed out with $700 Billion of US Tax payers money! All with no accountability for how it was used.

That was the biggest robbery in history in plain site!

You are absolutely correct that it was an astounding robbery of the taxpayers and was a colossal waste of money.


Having said that, the bank typically assumes the risk in normal situations and in a truly free market. The BS excuse for the bailout was that it was an extraordinary situation and it was needed to prevent total financial collapse. That was not true, since a total collapse could have been prevented without rewarded bad loan approvals by the banks, and bad decisions by the borrowers.


Again, you are correct and I should have clarified my statement a little more. In NORMAL lending situations, the bank assumes the risk. I apologize for any confusion.


I should also add that today, often banks make the loans, begin to collect payments, collect the fees, and then at some point, sell off some or all of the loans to a third party, which sometimes is another bank.
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Old 25-06-2019, 20:08   #345
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Re: Places Where You Can Retire on $200,000 and Feel Rich

They have now got around using taxpayers money,
They can now take it straight out of the deposits you have with the banks,
Win Win for the banks that stuff up,
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