Looking to retire in PR

Member since 14 December 2021

Dactyl DMember14 December 2021 17:05:09

Retired looking to relocate to PR for tax benefits.

I am married with three kids. My wife will retire soon and the kids will be off to college.

Can afford retirement and beach resort style living, but do not want to.

Would like a solid, modern, protected, modest home not on the beach close to convenient retail ex. Walmart, Home Depot etc. yet close to higher end restaurants and recreational activities.

I teach archery to kids and young adults for little to no compensation including mounted archery and would like to continue doing so.

Was looking at Dorado but I am not sure if there is an upper middle class area within the town that I am seeking.

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jenmayodc Active member

Member since 12 October 2021

jenmayodcActive member15 December 2021 14:27:45

Hi! I'm partial to the North Coast (including Dorado and beyond), but other areas to consider might be Humacao, Aguadilla/Cabo Rojo, Caguas area, maybe Ponce? I live in Barceloneta - and have another property nearby in Manatí - and I'm extremely happy here. I do 100% recommend gated communities because I find them to be safer.

There are Walmart, Home Depot, etc stores all over the Island. I have found that outside of San Juan, Manatí has decent medical facilities.

Public schools are awful in PR. If you have children you'll want a good, private, bilingual school. Again, your best bet there are probably San Juan, Dorado, and Humacao. I don't have kids, so others might have better information about this.

Hope this helps, happy to answer any other questions.

wpotvin Active member

Member since 23 April 2014

wpotvinActive member20 December 2021 14:00:24

First, speak to a good law firm re the tax benefits before spending much money. I have done it and it is a lot more difficult to make work than you might think. The key issue is that your income has to become PR income and that is not easy for a retiree with portfolio income.

Dorado housing is 2-4 x more expensive than other comparable good options.

Claudid Active member

Member since 24 November 2019

ClaudidActive member20 December 2021 14:12:37

Hi did you once say you are also a lawyer? Someone asked me if I knew a lawyer in the Rincon area for a home purchase. if not do you recommend anyone? Thanks

Claudid Active member

Member since 24 November 2019

ClaudidActive member20 December 2021 14:17:16

Hi are tax benefits for act 60 and those type of indiviuals only? I understand that if you are not attached to one of those acts and you make your principle adress in PR when you retirement you are tax like any other PR resident at 33% on ira's and 401k income/withdrawers. Is that correct?
Thank you