Have you ever considered retiring to Colombia? It’s not all what you see in the movies. There is much to learn and enjoy in Colombia. We will take a quick look at why you may want to consider Colombia for retirement.
Medellin, Colombia is fast becoming a great place for baby boomers to retire. It’s living costs are about the same as those in Panama City, which is to say they’re not terribly bargain-basement.
For example, a meal in a restaurant, taxi ride or movie ticket will cost about what they would cost in the Panamanian capital. However be aware that the cost of everything tends to fluctuate in US dollar terms almost every day.
Is Colombia Safer to Live than New York?
While Colombia might be known for its cocaine trade, life in Medellin is safer probably then in New York and drug consumption is lower than in Europe. Jamaica, Brazil and Venezuela have more gun murders then Colombia. In short, it is a much safer place to live than the media might have you believe.
Colombia lies in the northwest corner of South America and has coasts on the Pacific and Caribbean. The country is beautiful and diverse. It has colonial cities in its Highlands and world-famous resorts along the Caribbean. One of Spanish America’s most beautiful enclaves is Cartagena, a walled colonial city.
It is only about a 3-hour flight from Miami to Bogota, Cali or Medellin. The country has a diverse climate, and given its cost of living, you should be able to live there with more luxuries than you’re accustomed to because prices are so economical.
Invest or start your own business
Foreigners can purchase homes, invest and run any business they would like with no limitations other than those that locals experience. And they can obtain full ownership titles.
Colombia has both tropical and subtropical regions. It produces all kinds of fruits and vegetables, which are available daily in markets around the country.
Private healthcare infrastructure
The country has a modern private healthcare infrastructure. You will need private health insurance but you can buy it for about half of what it costs in the US. Hospitals and clinics in Colombia have trained doctors, and up-to-date technology and equipment. Barraquer Clinic is where was first created an internationally recognized laser technology for surgical purposes.
Cost of living in Colombia compared to the United States
A 3-course meal for two in a mid-range restaurant in Medellin costs about $26. You can buy a liter of milk for $.92 and a loaf of fresh white bread for a $1.10. A monthly bus pass costs $27 and a taxi ride of about $1.72. Gasoline is $1.06 per liter and you can buy a Volkswagen Golf or equivalent new car for about $25,000.
Basic utilities (electricity, water, gas garbage) are roughly $116 a month. Membership in a health club would be $65 a month and the cost of going to a movie is around $5.30.
What it costs to rent an apartment in Colombia
The cost of renting a one-bedroom apartment in City Center is about $232 while a three-bedroom apartment costs an average of $350. Outside of City Center, a one-bedroom apartment rents for roughly $463, while the 3-bedroom variety rents for $633. If you want to buy an apartment, the price per square meter for an apartment in City Center is $550 and outside of Center around $1200.
Many areas are safely accessible
A decades’ long civil war in Colombia has made some of its rural areas dangerous. However, a surprisingly high portion of its breathtaking mountains and sierras are safely accessible. If you would rather not venture out into the countryside, you might stroll through the Saturday market in Malaga or just enjoy the sands of Colombia’s Caribbean coast.
A museum devoted to gold
In terms of things to see, Bogota is home to Museo de Ora which is a museum devoted to gold. It has an impressive collection of pre-Hispanic works and offers an interactive experience in its Exploration Gallery. Cartagena hosts the Donde Fidel Salsa Club, where you can dance the night away to a selection of hot Salsa music.
And Medellin’s Piedra de Penol is a formation that was once used as a place of worship by the Native Americans who used to inhabit the area. You will have to be a bit adventurous to climb the Piedra de Penol but it can be worth it because when you get to the top you will be rewarded with amazing views of Medellin.
Colombia is as beautiful, diverse and dramatic as just about any other country you can think of, making it definitely one of the ten best places in the world to retire.
There is so much more to learn about living and retiring in Colombia. You can find out for yourself by planning a mini vacation or mini retirement and discovering the people, lifestyle, weather and more for yourself.
As a baby boomer you owe it to yourself to learn more about Colombia.
Learn more about traveling, living and possibly retiring to Colombia:
http://wikitravel.org/en/Colombia
http://www.lonelyplanet.com/colombia
http://www.state.gov/r/pa/ei/bgn/35754.htm
https://www.cia.gov/library/publications/the-world-factbook/geos/co.html