My Plans To Retire With US$1,000 In The Dominican Republic

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/ / My Plans To Retire With US$1,000 In The Dominican Republic

I can’t believe I’m going to talk about my plans publicly, but since this website has had a certain concept in some topics of being a sort of “personal diary”, I don’t mind sharing information, especially when I know it will be of help or guidance to others.

But, I currently live in the Dominican Republic, what do I mean when I say “I want to retire here”?

Well, from a very early age I have dedicated myself to have several jobs in the private sector, I live in the city of Santo Domingo, like any big city, a chaotic city, very stressful.

The traffic jams stress me out, rush hour stresses me out, office hours stress me out…in short, I am planning an escape from all this.

I have discovered in my new profession as a digital publisher, which I love because I love to write, design, and share, that I can earn money without the need to tie myself to work schedules or specific places.

So, I made a few analyses of costs, expenses, locations, plans A, B, and C of how I can retire in the Dominican Republic and live the least stressful life possible.

Why retire in the Dominican Republic?

For me it is evident, I am already here, although other Latin American countries have crossed my mind, many people complain about life in Latin America, yes, I understand that it is not the best, but I feel comfortable here.

I am not interested in living in Europe, nor in North America, I feel comfortable on this side.

But the real reason is that anyone who generates money in dollars can have a relatively inexpensive life in the Dominican Republic.

Yes, money in dollars in the Dominican Republic yields a lot because of the exchange rate, here life is hard for most people because the average salary in a small company is currently about 220 dollars per month.

Yes, 220 dollars for the whole month, with that a family must try to make a living, and they do, in bigger companies, the average monthly salary is around 320 dollars a month in Dominican pesos.

We Dominicans adapt to make a normal life with that amount of money, obviously with some austerity, but I make the comparison so that the concept is understood.

And for a U.S. person, another great reason to retire in the Dominican Republic is that it is very close to the United States, just a few hours by plane, so you will not be far from your home country.

How much money do you need to live comfortably in the Dominican Republic?

I must tell you that the amount you will need will depend a lot on your lifestyle, if you eat out a lot, where you plan to live, how many children you have, how smart you are with your finances, etc.

For me, $1,000 is the minimum amount to maintain my current standard of living, I could even do with less, but I would have to be a little more frugal.

I live in Santo Domingo, which being the capital city is a bit more expensive than the others.

If I lived in the suburbs it would surely be more economical, I could give you a breakdown of all my expenses, but suffice it to say that 1,000 dollars per month are more than enough for me.

In a nutshell, for you to live decently in the Dominican Republic you are going to need (on a monthly basis):

  • 1,000 dollars is a good life
  • 1,500 is a very good life
  • 2,000 dollars is living like a pharaoh king.

Obviously, you must know how to manage and not spend too much on unnecessary things.

Which cities in the Dominican Republic do I have in mind for “my retirement”?

Jarabacoa

Jarabacoa is my number one choice, this city would be my favorite destination, I like its climate, it is not hot, its landscapes are spectacular.

It has rivers, mountains, a beautiful town, and the people of Jarabacoa in itself are very beautiful and friendly, there are so many things to say about this beautiful town, I have been many times, just visiting.

Cabrera/Rio San Juan

Fishermen’s Beach, Rio San Juan

The city of Cabrera in the north of the country has a special place in my heart, it is my father’s hometown, Rio San Juan is a little further from Cabrera, both cities I love.

They are clean, the streets are wide, the people are friendly, many beaches, lots of nature, all quiet, spectacular sunsets.

Santiago

Ok, Santiago is another big city like Santo Domingo, I have only been there twice, but there is a big difference.

Santiago is super organized, clean, very clean, its people are super friendly, I love the personality and the way of speaking of the people of Santiago.

It’s a big city, but maybe I can find somewhere with a small-town feel in Santiago.

Sajoma

Sajoma is another city in the north of the Dominican Republic, near Santiago, honestly, I have never been there, but all the comments I have heard about this city have left me amazed.

Cool climate, quiet town, lots of ecotourism, is one of the towns in the Dominican Republic that has been underestimated, with great potential for tourism.

Final thoughts

Someday, if life allows me to “escape”, my dream is to build a tiny house in a place with lots of nature (I already have the design).

Live simply, visit the city from time to time, and travel a lot, from time to time.

My only concern is that I need a good internet connection, as my work depends on it, but that is not a problem in any town in the Dominican Republic.

I was recently surprised, as I was in Playa Grande in Rio San Juan, and the last thing I thought was that I could find internet on the beach.

I saw myself eating fish, on the shore of the beach, and the internet connection was pretty good, I imagined myself working from there, maybe someday.

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