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pensionado requirement

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masdevalia
5/15/2019 15:21 EST

My Soc Sec is $43 short of $1,000 monthly minimum required for a pension visa. Does anyone know if permanent monthly alimony payments would count as a lifetime pension?

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sanjuan
5/15/2019 16:35 EST

outlierlegal.com

Recommended by many on Forum

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ILuvCR
5/15/2019 17:41 EST

consult the professionals,

Study the website, read the blogs and then contact Dawn Drummer & Rafael Valverde for the details.

https://outlierlegal.com/

Pura Vida!

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lindyluvsCR
5/15/2019 20:54 EST

I don't know and of course follow suggestions given - but if you have funds available, if you could perhaps get an annuity to fill in the needed amount. Just a possible solution.

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Kohl
5/15/2019 21:24 EST

From previous, long ago posts I remember reading that alimony is not acceptable to immigration due to the fact that the person paying it, may pass away...

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PombinhaCoco
5/16/2019 16:40 EST

masdevalia
There are other countries that don’t require as much.
Among them, Ecuador, Nicaragua and Honduras.
Nicaragua used to be 600.00 but I read somewhere recently that they had increased the amount.
Maybe someone else here like shermanwc knows more about that.

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shermanwc
5/16/2019 16:56 EST

Nicaragua requires $600 per month for one person, plus $150 per month for a spouse, for pensionado residency. Must be from an established pension or retirement benefits paid by a "competent authority".

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peter2017
5/17/2019 13:55 EST

Follow lindyluvsCR advice. You can get $50/month annuity for about 10-15K

https://www.schwab.com/public/schwab/investing/accounts_products/investment/annuities/income_annuity/fixed_income_annuity_calculator

Don't over complicate things. Get them what they want.

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PombinhaCoco7
5/17/2019 16:28 EST

Hi Peter2017,
Last year a French Canadian was in the same situation and she too said that the government wasn’t accepting her annuities to make up for the difference. Not sure if she got the wrong information.
However is always good to let people know that if that doesn’t work out they have more choices.

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peter2017
5/17/2019 17:18 EST

Hi PombinhaCoco7,

Not sure what her situation/paperwork was, but if you go with a large insurance company and get a letter from them listing the conditions or lack thereof, I see no reason why this would not be accepted.

In Canada, I would go with Sun Life Financial, if I were her.

https://www.sunlife.ca/ca/Learn+and+Plan/Tools+and+Calculators/Annuity+Calculator?vgnLocale=en_CA

It should be as good as a pension from the government, IMHO.

But to retire in CR around beach towns on a $1000/mth will be really hard. She would need to go to a small town in the mountains somewhere. Maybe others can chip in and recommend a good place on a $1000/mth budget.

Peter

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carolvaughn
5/17/2019 17:59 EST

Hi. I was in the exact same situation of
being just a titch short of the $1,000 a
month requirement. I bought an annuity
thru Prudential, and OMG, it actually has paid me over 8% interest. Like alimony,
this was not an in perpetuity $$ source,
but they accepted it, and it got me thru
the goalposts. You'll need to have it
translated, that's the only hard part.

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lindyluvsCR
5/17/2019 18:02 EST

I know a place if available where she could in Grecia. It would mean though living without a car which I do. And desiring to walk here and there at least part of the time. And not much eating out, which I don't. And a bit of a cushion and $1800 or so to get residency.

It is a pura vida and simple life which is what i like, but not everybody does.

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masdevalia
5/17/2019 18:30 EST

Have liquid assets to augment my U.S. social security pension, when needed. Will check into buying a long-term annuity. Thanks for the advise.

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lindyluvsCR
5/17/2019 18:39 EST

If you ever want to visit Grecia, would love to meet you.

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PombinhaCoco7
5/24/2019 07:29 EST

shermanwc
I found the page where I had read that Nicaragua had changed their requirement for Pensionados.
I wonder if this is true.
Here is the link:

https://www.facebook.com/groups/RealNicaExpats/permalink/2272139889664183/?comment_tracking=%7B%22tn%22%3A%22O%22%7D

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shermanwc
5/24/2019 13:38 EST

Thanks for the info PombinhaCoco7. I have not been able to confirm this from any other online sources, but I assume that the writer knows the law. We were going to apply for Nica residency a year ago, but then the violence broke out, so we delayed it. We may start looking into it again soon.

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shermanwc
7/5/2019 17:25 EST

FYI, an update on Nicaraguan requirements for Pensionado Residency: $1000 monthly income for first person and $150 additional for spouse. (Or each can apply separately with $1000 monthly income each.)

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