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    Tips for Comfortably Retiring on a Tight Income

Baby Boomers can still retire, even on a tight income, by taking steps to stretch their dollars! 

Tips, ideas and advice for making Baby Boomer retirement income go further!

 

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Baby Boomer Retirement in Ecuador

 

by Kathleen Peddicord

 

Everything you've heard about Ecuador is true. The country offers perennial springtime in the mountains...a land of longevity in Vilcabamba...and Spanish-colonial charm in Cuenca...all of which can be enjoyed on even an extremely modest budget.

Ecuador is not known for its beaches, and its coast remains relatively undeveloped. Current talk of a new beach road, though, is bringing investor attention to one particular stretch of coast, giving our editors reason to return Ecuador to our active radar screen.

 

Learn more at "Live and Invest Overseas

 

If you retire in Ecuador, you can rent a condo in the beautiful colonial city of Cuenca for $300 a month, according to International Living magazine, which gave the country its No. 1 spot in its 2009 World’s Top Retirement Havens. Plus, it states, retirees never have to wait on line!

  • Activities: Hiking in tropical cloud forests, beaches, bird watching, shopping, UNESCO World Heritage sites, visits to the Galapagos Islands

  • Health care: Adequate, inexpensive medical care is available in the major cities, but services are limited beyond that.

  • Human development index: 80.6

  • Weather: Tropical to temperate

Source: GlobalPost.

 

The Best Place to Retire on a Budget

 

Cuenca is perhaps the most affordable place in the world to retire comfortably. You could retire here on less than $800 per month.

 


View Larger Map

 

Ecuador at a Glance

 

Population 13.7 million (July 2007)
Gross Domestic Product (GDP) $98.28 billion (2007)
GDP Per Capita $7,100 (2007)
Inflation Rate 3.3% (2007)
Currency U.S. Dollar
Exchange Rate Versus U.S. Dollar N/A
Language Spanish (official)
Capital Quito
Population of Capital City 1.8 million (2001)
Time Zone GMT minus 5
Seasons Coastal area is tropical--wet, warm/hot year-round Andean Highlands is temperate--four seasons
International Dialing Code 593
Electricity 120-127 V/60 Hz; Plug Types: A & B (U.S. style)
Presidential Republic
Name and Party Affiliation
of Current Leader
Rafael Correa, Alianza PAIS
Income Tax Rate for Residents 5% to 25%
Property Tax 0.025% to 0.5%
Capital Gains Tax 25% of the increase in assessed value
Inheritance Tax 0% to 35%
Rental Income Tax Taxed as regular income
Transfer Tax 1%
Sales Tax 12%
Restrictions on Foreign
Ownership of Property
Permisson needed (usually granted) to acquire land within 30 miles of the coast
Local Chamber of Commerce www.ccq.org.ec
Av. Republica y Amozonas
Edif. De las Camaras, Pisos 5 y 6
Quito, Ecuador
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
American Chamber of Commerce www.ecamcham.com
Av. 6 de Diciembre y La Nina
Edf. Multicentro, Piso 4
Quito, Ecuador
Tel: (593-2)507-450
Primary Exports Petroleum, bananas, cut flowers, shrimp, cacao,coffee, hemp, wood, fish
Residency and Visa Requirements Tourist Visa: automatic 90 days upon entry
Residency: Retirement, Real Estate/Securities Investor, Industry Export Investor, Executive
Citizenship: Three uninterrupted years of legal residency
Special Benefits for Foreign Residents or Retirees None
National Airline TAME
www.tame.com.ec

 

Argentina

Belize

Brazil

Costa Rica

Dominican Republic

Ecuador

Mexico

Nicaragua

Panama

Uruguay

   

 

Information on this page is provided in partnership with Kathleen Peddicord, Publisher of Live and Invest Overseas.

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