Retirement Planning: Cost of Living

ABOVE: There will always be something fun or exotic to do in your retirement apart from snorkelling, swiming, lounging on the beach or traipsing across the border into neigbouring Mexico or Guatemala. You can explore the interior with its rainforests, mountains, caves and rivers and Mayan villages.

If your preference for retirement is in a tropical paradise, Belize has many options available for access to land for development and construction of your dream home. Folks just starting their retirement planning will find various lifestyle options readily available in any of Belize 's six districts. If you have a relatively simple lifestyle, then you'll find the cost of living inexpensive: imagine the sweet mango juice running down your arm while you bask in either Belizean country air or sea breeze (naturally, you'll screen your windows to keep out mosquitoes in rainy season/low-lying areas).

If you want to ensure you have all available electrical and electronic appliances, run an air-conditioner 24/7 and eat out at restaurants often, then you may find Belize rather expensive. For example, while many Belizeans may well have a washing machine, not many will have a dryer, using instead the traditional clothesline, clothespins and sunshine. Similarly, many Belizeans own a microwave, but hardly any Belizean home will have a dishwasher.

Because Belize blends modern amenities with gently swaying palm trees or quaint rustic settings, prices for this combination may be considered expensive by some standards, particularly because much is imported. So, trying to keep up with the latest model vehicle and state-of-the-art technology will mean paying import taxes, as high as 88% on some types of vehicles. However, one of the reasons Belize is growing in popularity among retirees is because of the attraction of the casual and relaxed lifestyle, luscious Belizean fruits, vegetables and food, tropical climate (it never snows in Belize!) and, of course, the rhythm and diversity of its multicultural population. Belize is affordable, especially if you live outside of the primary resort areas.

A number of satellite communities have emerged in the immediate radius outside of Belize City , the country's commercial center and largest city with some 60,000 residents. A residential lot located just outside the city, in its suburbs if you will, of 75 ft. by 100 ft. will probably cost you between U.S. $15,000. to U.S. $40,000. If you intend to rent, even if just initially after approval of your application, various options and ranges are available. You can rent a three-bedroom, two bathroom house for as little as U.S. $200. per month in some rural areas; this same accommodation may cost you double that in cities and towns. A 1,500 sq. foot concrete house with fenced-in garden area and parking in a spacious neighborhood in or near a downtown area may cost you U.S. $1,000 or more per month.

More recently, a number of retirees have taken advantage of the availability of concrete bungalow 2 to 3-bedroom houses in planned communities such as Los Lagos or Vista del Mar in the Ladyville area of the Belize District. Here, rental ranges between U.S. $300 - $400. per month unfurnished and U.S. $500 - 800. per month furnished. Utilities are separate; without air conditioning and living moderately, a couple can expect to spend between U.S. $150. - $200. monthly for utilities (electricity, water, cable, basic telecommunications).

Best of all, with the Belize dollar being strong, pegged to the U.S. dollar at $2.00 BZ to $1.00 U.S. , you can budget and plan your expenses without fear of fluctuating exchange rates. Your 401K or IRA will be safe and go even further with the favourable exchange rate (and you might not even have to roll over your 401K account). And, even though Belize is geographically on the Central American landmass, it has not suffered from the civil strife and internal conflicts that besieged several of her neighboring Central American countries in the 1980's, when in fact, several thousands fled to Belize seeking escape from such strife. Above all, remember that the whole point of living and retiring in Belize is because you want a different lifestyle.

Perhaps your idea of retirement includes lazy days of fishing or evening strolls through your own personal garden teeming with an abundance of colorful tropical plants. If so, then Belize can definitely be your retirement plan. And if you like a bit of nightlife and easy access to resort areas for when you feel like splurging, then Belize has this too, whether it's a weekend at an exclusive jungle resort, an island weekend adventure or poker, gambling and a midnight cabaret at the main casino located in Belize City. Of course, if you are really ready to enjoy those investments you made earlier on, then opportunities also exist to retire in the heart of several well-known Belizean adventure tourism destinations such as Ambergris Caye, Caye Caulker, Corozal Town or Placencia.

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