Is there any chance for a retired American to survive on $80,000 in Peru?

Question

Peru's financial situation is changing....North Americans can buy a lot of properties there now...Things are cheap and the crime rate is getting lower. I was wondering if a retired American can survive on $80,000 in this country.

Answer 1

yes, ofcourse.

www.peru.info

Answer 2

There, are of course, advantages and disadvantages to living in a Third World Country. First, your money will go along way provided that Peru's  financial instituion does not collapse as it did during the 1980's. There is also the risk of Cival War (which is occationally common in Latin American Countries). You must also be aware that  Latin American legal systems are quite different from American Legal Systems. Basically, if you get arrested in Peru your going too have very big problems. Peru does not have a jury system and the police are notoriously corrupt. You can bribe anyone for anything in Peru. But the people are wonderful, genuine, sincere, and giving. It all depends on what your risk factors are. Living comfortable in another nation does not always mean living well in the long term

Answer 3

US$80,000 a yr. will get you a more than decent lifestyle. An income like that puts you in the top tier of earners in Peru. To put it in perspective, you would be making what a CFO of a small to medium company in Peru probably earns in a year.

Answer 4

If you want to have the same lifestyle you will have to buy an apartment in good place to live in Lima. An apartment will cost you around $30,000. With the rest or your money you should invest in a small business, so you can get some money back without being worried about your expenses.  You can do many things.

Answer 5

Do you mean $80K in savings or $80K a year? Why Peru?It's a long way from the US.and there are,in my opinion,other places closer that have better health care services available.I understand that Peru and Colombia's economies and investment climates are changing for the better, but is it a permanent change? I happen to think it is, but only time will tell. I like Peru as a place to visit,but not as a place to reside.I lived there for almost three months not long ago.Mexico or Panama would be my choices.Good inexpensive medical care and insurance is available as well as plenty of investment/business opportunities.Also the proximity to the US is worth noting...Just my humble opinion...Buena Suerte!!

juan23

Answer 6

More than enough to live on, you could do well with 1000 a month.

Answer 7

Ok about your question living in peru  the best place where you can buy a house is  in  the sierra or noth of peru, there is not to many people  and is not a clutter of garbage like lima and bad smoke.  i believe the best places to live can be piura tumbes, cuzco is fullof tourists but is beutifull maybe arequipa, or huaraz.  with 80 000 dollar's a year you can live very good, with 80 000   investment you can do it so specially with tourism Peru is very rich in ancient cultures  and many tourist travel over there .  you can do it  and have a very nice life there. I don't recomend lima for retirees

Answer 8

It depends on where you are at and what you will be doing.

The mountains are cheaper than in Lima.

The main thing is what kind of visa you have.  You either need to have a business visa (which requires $25,000 investment per person) or have $1,000 a month income for the rentista visa, which has to come from a guarenteed source (SSI).

For the business visa, you need to buy or start a business that will create 5 jobs for Peruvians within 2 years.  

Getting through the red tape and the general hassle of getting both types of visas takes a lot of time and patience.

The prices of real estate are going up in Peru, just like they have here.  It is still cheaper than in the USA, but not as cheap as it was 3 years ago.

I would really look into what type of visa you can get before planning on living in Peru long term.  Make sure this is what you really want to do, because once you buy real estate in Peru, it might be difficult to sell if you need to go back.

EDIT: I am not sure if you have JUST 80K or you have 80K coming in per year.  That makes a big difference.

Answer 9

If 80K is your yearly income, of course you can. You can live decently with only half that much in Lima, and consider Lima to be more expensive than the provinces.

Now if you want to invest 80K and live with your social security check, there are two choices to pick from:

1.- Buy some place for that amount in Lima, in the Miraflores district. It's full of foreign residents, tourist and above all, you don't need a car. For driving inside our capital is nerve breaking. This district also has the best security systems and very low crime rate.

2.- Buy a house in the provinces, in a touristic destination like Mancora Beach in the north, The Callejon de Huaylas in central mountains, Urubamba valley in Cuzco or maybe Arequipa. My personal choice would be in the town of Caraz or in the near sorroundings (inside the Callejon the Huaylas). this is a beautifull landscape with the tallest mountains and it's cheap to turn a big house into a Hostel and have only 5 employees running the place for you. You can live there during the winter and go to Lima during the summer, you'll never get bored. Of all the places I mentioned, this one has less competition and there's always people going there for mountain climbing and trecking. There's also a famous ruin nearby, the Chavin de Huantar.

Answer 10

I agree with Latina R and I am Peruvian.

Answer 11

Yes, Peru is changing and its economy is getting better.

$80,000 will get you a decent apartment in the capital Lima and with your social security check, you would be ok.

Now if you go to provinces, then you can buy a better, bigger apartment.

depends of your life style, but social security checks won't make you rich there but you won't dye of hunger either.

Some people there live a very confortable life with big houses with swimming pool by the beach. Get to go to the best restaurants and kids go to private school and they usually pay for good clothes, nice cars and nice lifestyle overall.

Some others live a simple life. Buy menus at restaurants to save money, take the bus, don't have a car. Kids go to public school, buy unknown brand of clothes.......

it all depends on what u want.