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My monthly is over 7 million pesos

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noelstreet
  11/30/2018 11:34 EST

I am looking to retire to Cali with my Colombian wife. I receive over 7 million pesos in my retirement check. Can I live a good life on 7 million dollars? All information appreciatted. Thank you, Joe Mancini. We have no children, she does not work. We will be seeking an apartment/house full furnished. In a nice area with reliable internet service. Thank you again.

Elexpatriado
  11/30/2018 11:52 EST

Well I am yhe wrong guy to ask..cuz i spend like a drunken sailor ( after workig 3o years and saving 50% of my savings)..but generally yes, more than enough.

You would have to ask your self the "tax" question though..you know what I am talking about.

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joenancy
  11/30/2018 11:55 EST

Ditto for me. I spend more than that without debts and paid for home/car and rentals. But, I am sure many can live for that amount. Joe

joenancy
  11/30/2018 11:57 EST

elex, I send you private mail on other site. when you have a moment. joe

WhoaNellie
  11/30/2018 12:18 EST

noelstreet, you have been asking the same thing for over 2 years now that I can remember, and probably longer. You have been given answers that YES you can live quite well on that, especially in Cali, and as long as you don't expect to live like a millionaire in USD.

Your Colombian wife should be able to tell you what you need to know.

What exactly is your problem that you keep asking the same thing over and over and over?

ponymalta
  11/30/2018 12:53 EST

i don't know about cali but it cant be much different than Medellin . our household budget for everything is 3 million pesos a month. comfortable with nice place to live, healthy food, all the utilities, gated apartment building with pool and gym, private school for daughter, three bedroom apartment.

would be more if we rented finca.

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Electricista
  11/30/2018 13:03 EST

You can easily live on one million pesos. Your Colombian wife probably can get by on six million pesos. So you are good to go.

joenancy
  11/30/2018 16:35 EST

I think I heard from this guy over 4 years ago. No money, barely surviving. I do not believe he has a colombian wife. He is not a risk taker and broke. Not important really, just thought about it. joe

LaPiranha
  11/30/2018 17:15 EST

Yep, Joe, and Whoa Nellie too. He has been asking these questions for years, and he also tells people you can live on that, so what game is he playing? One minute he has a wife, the next minute she is his girlfriend.

I think this is one to ignore. He is either 10 cents short of a peso, or trying to brag he has 7million a month.

Elexpatriado
  11/30/2018 20:29 EST

Pony malta..

Bit doesnt include paying for furniture to fill the apartment, travel outside of medelin, privste car initial.purchase costs,soat, insurance, maintenance etc.,your wifes shopping sprees, private school for kids.yada yada yadda

Right?

ponymalta
  12/1/2018 03:21 EST

Elexpatriado

Good points, but i was referring to our basic budget.

-furniture : i don't consider that a monthly budget item. we basically years ago bought hand made colombian furniture that will last for life, and my wife every few years gets upholstery changed..
-private school-yes that budget includes but i dont pay gringo prices nor put kids in schools for prestige-been there done that.
- medical insurance-wife has for her and daughter private insurance plus life insurance on me (funny at my age cheaper in colombia,for her cheaper in america). if i get seriously ill i have access to health insurance outside of country,and i wouldnt get serious medical issue handled in colombia anyway . i have no idea what it would cost for me there.my wife has some sort of medical insurance for me i have never used.
- car- yes but one time cost. from budget wife pays gas and insurance.i tend not to drive in medellin.

-wife shopping etc- yes as with any woman can be an issue and extra expense.

all i am saying is for 3 million pesos one can have a comfortable life in colombia and not have to worry about money. sure we may spend more money. at times. every family different- i just give my wife money at beginning of month and she manages. i really dont want to be bothered about monthly expenditures, being a Paisa i let let her deal with- to scheme to save or make money is in their blood.. she gets better for less than i can and we live good life.

but i dont know the monthly medical insurance you mention but how expensive could that be ?

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lpdiver
  12/1/2018 08:19 EST

What you shoud do is go to XE and trend the dollar to peso exchange and then ask yourself, " Can I live comfortably on 3.5 million pesos. I am assuming that your pension is funded in dollars. The peso ranged from 1745 per dollar to 3737 per dollar. If you are funded from another country the same applies.

LPd

cccmedia
  12/1/2018 09:36 EST

Although LPd's other numbers are correct, the dollar never rose to 3737 COP. It has never pierced the 3500-peso line, according to xe.com charting.

Figures in this post are from the longest-term chart of xe.com's online charts, the 10-year USD/COP chart, and data accompanying the chart.

Three years ago, the dollar reached a pinnacle of 3437.6 pesos.

The current exchange-rate in the dollar's latest run-up is 3233.8 pesos to the dollar, as of December 1, 2018.

cccmedia

awalles
  12/1/2018 10:58 EST

I live modestly on 4'500.000 to just over 5'000.000 a month.

lpdiver
  12/1/2018 12:17 EST

Mea culpa

I pfat pfingered the 4 for a 7. It is the general idea that if your money is sourced outside of Colombia it will be a dynamic exchange.

LPd

lpdiver
  12/1/2018 12:20 EST

Elex...could you explain, saving 50% of my savings??? jejeje

LPd

noelstreet
  12/1/2018 12:44 EST

Thank you. I was worried 7 million wouldn't be enough. We will be living in Cali. She is Calena. Once again, thank you Joe Mancini

DallasSteve
  12/1/2018 13:03 EST

I don't know if the original poster has been asking this question over and over, but I'm glad he asked this time. I'm interested in this topic and I have learned a little more by reading this thread.

As for a monthly budget I would never drive in Colombia so I would not have that one time cost or SOAT or license or whatever else. I just jump in a taxi and curl up in a ball in the backseat holding on to the one end of the seat belt that has not been buried under the seat, sort of like riding a bull here in Texas.

DallasSteve
  12/1/2018 13:29 EST

And, I might add, even if he asks this question every month it's a much more interesting and pertinent thread that one about Ivanka Trump using her personal email for government business. And why would a Canadian care anyway, except that The USA is The USA and Canada is not.

WhoaNellie
  12/1/2018 13:43 EST

If your wife is a caleña, ask her - she should be able to tell you that 7 million COP per month is more than 95% of the people there earn.

You've asked this over two years ago, and over and over. You have been answered many times. Why do you keep asking the same thing over and over? Are you just trolling?

noelstreet
  12/1/2018 13:48 EST

No, my memory is shot but it is getting better. Thanks for your advice. And no, I am not a troll. Maybe in AD&D

WhoaNellie
  12/1/2018 15:27 EST

LOL the next time you want to ask, just do a search of this forum for
noelstreet
...and you'll see that it's been asked and answered.

JustSomeGuy
  12/1/2018 15:49 EST

Of course if he forgets he asked…

I feel for you. I once went out to my car to go to the store to return something. Then I had to go back in to get the item I was planning to return. I’m just glad I remembered before I got to the store. I haven’t noticed that that is getting better as I get older.

SunsetSteve
  12/1/2018 15:53 EST

"And why would a Canadian care anyway, except that The USA is The USA and Canada is not."

Canadians are very loving, caring people. We care about people the world over. And we especially worry about our neighbors to the south - they're always getting into trouble!

JustSomeGuy
  12/1/2018 18:45 EST

“Always”? We do sleep occasionally.

A few years ago, we, the US, got in a bind in Iran, they grabbed a bunch of our diplomats and held them captive for a very long time. At the start of the trouble there were a number of US diplomats that were not captured. The Canadians hid them and got them out of the country to safety. I feel a great deal of gratitude to Canada.

I love Dallas’ description of Colombian taxis. Colombia is the only place I have ever been hit by a taxi, while a pedestrian on a sidewalk.

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