My family and I (wife and one child) currently live with a very good income in northern Canada but it's very cold and we are looking for a change. We can support ourselves off a passive income (rental properties) of approximately $4000 Canadian a month. My question is, could we live a good lifestyle in DR if we pull the plug and retire early with a small child? I am 35 and my wife is 30, if we have to keep working for a few more years that's not a problem but if we had a lump sum of $200,000 Canadian dollars and a monthly retirement income of $4000, what kind of life style could we expect to have?
Would it be a safe and fulfilling life for our daughter?
We are willing to make some adjustments but we do not want to just "get by". What, if any, sacrifices would we have to make if we are going to live off $4000 a month?
We currently live in an above average home with 3 vehicles and take 2 vacations a year. Is it realistic to think we could still live the same in DR?
Making the move from riches to beachs
First of all welcome to the forum. You will find some very friendly folks here with good information for you.
With that kind of budget you will want for NOTHING here on the north coast. We did not change our "life style" at all and get by on less than that and that includes running a household.
Having said that life here itself is very, very, different than what you are used to and will take some adjustment. To do it right you should come down here for a couple of months and check it out to see if the DR "fits" for you.
Bob K
Thanks Bob,
We understand that life would be different, that's part of the charm. It's just that all I seem to find are blogs and post about minimum living costs and as I had said before, we don't want to just get by. The idea of early retirement is one that most people dream about and we are in a spot now that we think it may actually be possible.
It's simply a question of how well will we retire and would we be doing an injustice to our little girl by making this choice.
We retired here 7.5 years ago and have not looked back for a second. Believe me you won't be just getting by on that budget. Like I said we live just fine, go out to dinner 3-4 times a week, travel around (local and out of the country), support a house, 2 vehicles, 2.5 FTE house staff, and so on and live on less than your budget.
PM me if you want to discuss this further as I do not like discussing finances on an open forum
Bob K
Welcome to the forums. Bob is giving you good information. you can live nicely on that income! Before you cut all ties and make the move, you are best to come down here for an extended stay. Check out various areas of the island. Live the way you want to live when you move. Check it out for yourself.
As Bob says, this place is not for everyone, but for some it is Paradise! I've been here 10 years and I love it still. There is an adjustment period that will challenge you, frustrated you and enlighten you!
I suggest you read as many of the threads here as you can. then come back with more specific questions. And please keep us posted on your plans and we are move then willing to meet up in person when you are here.
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