Expat Advice: Retiring in Lima, Peru
What is the name of the city or town that you are reporting on?
Lima
Why did you choose to retire abroad?
Wanted to live in an affordable large city on the Pacific or Atlantic Ocean
Are you retired abroad all year or part of the year?
I live here year round
Why did you choose the country you retired to?
I think the country chose me! I came here on Vacation, fell in love and would dread the 2-3 months I spent home in NYC before I could return again.
Did you ever live abroad before you retired abroad?
No
How long have you lived abroad since you retired abroad?
8 Years
How many countries (other than your home country) have you lived in as a retiree?
1
What have been the most challenging aspects of being retired abroad?
Language & Bureaucratic entanglements.
What have been the most rewarding aspects of being retired abroad?
The food,people,weather,culture and relaxed way of life.
What would you do differently if you were just starting the retire abroad process?
Come about 10 years earlier.
What is life like for a retiree in your city and its surroundings? (Is there an active expat community? Cultural Attractions? Recreation? Nightlife?)
We have a very active ex-pat community here. Besides all of the famous cultural sites here, we have amazing restaurants, good health clinics, movie theaters, grocery stores, Surfing beaches, parasailing and anything else I could want just a few minutes walk from my front door.
What residency documents or visas did you need to obtain to retire in your host country? How difficult was this process? (Please describe)
Fairly easy you need a pension or SSI of $1,000.00 a month for your self and $500.00 more for each dependent.
Did you buy a home or apartment, or rent one? Is this a difficult process? (Please describe)
I rented a house (Miraflores) for the first year from a gringo who actually took a USA check for the years rent. I also bought his car and sold it 6 years later for the same price.
I bought a Penthouse apartment overlooking the Pacific (for a song)on my tourist visa with only $500.00 deposit and a photocopy of my passport.
Financially, has living abroad in your host country met your expectations? Exceeded them?
Exceeded them by a mile! Like most of Latin America when the Financial crisis started in the USA and Europe, prices of land tripled.
Inflation has been low and and prices of most things are about a third of NYC. Lunch for 2 in a nice Cafe was $12 eight years ago and now is about $20.00 Our currency has appreciated from 3.6-1 to 2.7-1 over the same time frame.
What are the most important financial considerations for retiring to your host country?
Obviously, that you have a secure income and you have adequately budgeted your expenses (including travel). Are not dependent on medications that may not be available
How much can a retiree live on comfortably in your host country?
Minimum for 1 person would be about $2,000.00 per month
Do you have access to quality medical care? (Please describe - is it close? Expensive?)
I live 2 blocks from a famous clinic and pay about $85.00 a month for a family of 3. A major health policy with a multi-national insurer would probably be under $2,000 per year.
Retiring in Peru? Choosing an expat health insurance provider is an important decision. Take a minute to get a quote from our trusted expat health insurance partner, CIGNA. Sponsored by CIGNA.Describe available transportation where you live. Do you need a car? Is there access to safe public transportation?
No car necessary, taxi's and buses available if you must leave the area. Taxi's are normally a dollar to go anywhere in the immediate area and a 20 min drive would cost $3-$4
Is there high-speed internet access where you live?
Yes, It is all over in the cafes/restaurants/Mc Donalds/Starbucks etc. I have a 3G dongle which I can carry with me and use anywhere in the country.
More Expat Advice about Retiring in Peru
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Comments about this Report
guestIf you need $2000 a month minimum you must have expensive tastes, the average Peruvian makes less than $400 a month!
guestI agree... having been to Lima 4 times for multi week stays, it would appear to me that one should be able to live reasonably comfortable for about $1000 per month. Excellent article, would like to hear more about the residency requirements and, perhaps, a breakdown of anticipated monthly expenses.
guestIf you can live in Lima on $400.00 a month, I think you should go for it and "bank" the extra $600.00 a month required for the Visa Rentista!
guestWhat about posting the requirements for a retiree visa ?
guestI have been visiting Lima or travel in Peru for the past 8 years. I mostly spend from 2 - 3 weeks there about 2 or 3 times a year. I am now 60 and thinking of retiring to Lima (Miraflores, San Isidro, San Borja - any of these areas) when I am 62. Retiring January 2014. How are things changing? I will rely on my pension and SS check which will be about $390,000 before tax. I only have a few $$000 savings. Any advise especially about buying now as an investment rental?
coastwalker3this gives me some good information. I would like to read more about housing and mingling with other expats. Big ?? are americans accepted by locals or are they looked upon as too rich outsiders. I've been told that in panama having $$ or dressing nicely can get you in trouble. comments?
EcuadorDeanWow you must have quite a life with a $2000 a month budget, you are living the same or better standards of the USA since most Peruvians would only dream of making $1000 between two people working. I bet you can even shop at the Wong stores!
guestHow comfortable could I live on full VA benefits in Peru which is $2769 per month for 2? Thanks.
rianmiThank you for bringing me down to earth. I presumed for many years I have been visiting Peru, (mostly Lima) that the main grocery store are Wong or Vandidades! Although previous visits my friend and his mother would take me to shop at a local market near Santa Anita roundabout in Lima - I loved the experience and it made me to love the people and country. Just like I was used to in the old days in England.
Lu36I am peruvian living in the US, I took my husband to Lima once and he hated the traffic and how crowded the streets were. He said no gringos will ever live there!.. He said Costa Rica is better than Peru.. I love my country, the culture, the food, the people and everything about it.. One day I will go back to stay..
guestI don't know when this was written but living in Miraflores is much more expensive than what the writer says. Real estate prices are through the roof there. It is safe and very pretty area but many other neighborhoods in Lima are very depressed and dangerous to go into.
AlpineprinceI wrote this about 5 years ago and costs have certainly gone up. Current spend for family of 4 is now about 4,000/mth. A nice 1-2 bedroom apt in miraflores is 600-800/mth + expenses, housekeeper runs about 400/mth, good quality lunch can be found for 5-6usd per person. Real estate has stablized and a nice apartment can be had for 200,000 usd.
