Countdown to Caribbean
Warning: I feel like ranting a bit...
Our vacation home purchase has been a sometimes frustrating and almost always exciting endeavor. Once my husband and I determined that we wanted to try living on a tropical island, we enacted a plan to make it happen. We aren't there yet and we see different paths forward but it always boils down to money. Here are our options with pros and cons:
Option A: Cash it all in and go for it!
Option B: Use the house when we can, rent it when we're not there, retire in 8 years with my teacher pension (if it's there for me...) and a maintain the 3 rental houses for passive income.
Option C: Semi-retire in 2 to 3 years, take whatever savings we have to buy and renovate 3 to 5 more rental homes in lieu of my pension, and have the passive income now instead of later.
I would love to do option A. But, I have children in school and although I want my children to experience another country and really get an international perspective, I don't think their father who lives in Florida would allow me to move them if they don't want to. My daughter is open to the idea while my son is not. I don't want to force either of them to move with us against their will. So, option A isn't really realistic. In all honesty option B isn't any more viable as I am not even sure a pension is in my future the way things are going with teacher pensions in our state. I work for the pay check. I have been saying for a while that we're fools to think the legislature couldn't deny us a pension by running it out before any of us 20+ years in can retire. Sadly, my colleagues are slowly coming around to my point of view.
All griping aside, we are so blessed to have found Cabrera and our little neighborhood above the town and a house within budget that is essentially cost free. If we HAD TO, we could live off of what our three rental homes make every month. Not in luxury, mind you. But, we could pay for health insurance, gas, food and occasional trips back to the US (where we would then be broke)...all of which means we've already achieved a modicum of retirement security with the house there to live in and our present income properties...so, not all bad. We can keep building the passive income a few more years and who knows? Maybe we'll be there sooner rather than later?
I know, I know. We are relatively young and many other couples aren't even to the point we are in the Retire-to-the-Caribbean playbook. But, dag nabbit! (pardon my French!) I watch all these vlogs and read all these blogs about young people choosing a different path from their parents and they are living their lives where they want to. I don't think I ever wanted to live in Metro Detroit... neither did my husband... but life deals us the hand and we have to play it. Blech.
Like so many others out there, we are so ready to give it a go. But, reality and responsibility keep us chained to the North. I know our time will come eventually. Until then this whole process is a test of our ability to stay 'present' in our current lives while laying the foundation for our future life in the Caribbean. I have no doubt that there are frustrations and a myriad of annoyances and issues that come with life in the Dominican Republic, but frankly, I have nothing but stress here too. Why not change the scenery a bit?
Our vacation home purchase has been a sometimes frustrating and almost always exciting endeavor. Once my husband and I determined that we wanted to try living on a tropical island, we enacted a plan to make it happen. We aren't there yet and we see different paths forward but it always boils down to money. Here are our options with pros and cons:
Option A: Cash it all in and go for it!
Option B: Use the house when we can, rent it when we're not there, retire in 8 years with my teacher pension (if it's there for me...) and a maintain the 3 rental houses for passive income.
Option C: Semi-retire in 2 to 3 years, take whatever savings we have to buy and renovate 3 to 5 more rental homes in lieu of my pension, and have the passive income now instead of later.
I would love to do option A. But, I have children in school and although I want my children to experience another country and really get an international perspective, I don't think their father who lives in Florida would allow me to move them if they don't want to. My daughter is open to the idea while my son is not. I don't want to force either of them to move with us against their will. So, option A isn't really realistic. In all honesty option B isn't any more viable as I am not even sure a pension is in my future the way things are going with teacher pensions in our state. I work for the pay check. I have been saying for a while that we're fools to think the legislature couldn't deny us a pension by running it out before any of us 20+ years in can retire. Sadly, my colleagues are slowly coming around to my point of view.
All griping aside, we are so blessed to have found Cabrera and our little neighborhood above the town and a house within budget that is essentially cost free. If we HAD TO, we could live off of what our three rental homes make every month. Not in luxury, mind you. But, we could pay for health insurance, gas, food and occasional trips back to the US (where we would then be broke)...all of which means we've already achieved a modicum of retirement security with the house there to live in and our present income properties...so, not all bad. We can keep building the passive income a few more years and who knows? Maybe we'll be there sooner rather than later?
 |
| less and less view...but, more and more palms and flowers... |
Like so many others out there, we are so ready to give it a go. But, reality and responsibility keep us chained to the North. I know our time will come eventually. Until then this whole process is a test of our ability to stay 'present' in our current lives while laying the foundation for our future life in the Caribbean. I have no doubt that there are frustrations and a myriad of annoyances and issues that come with life in the Dominican Republic, but frankly, I have nothing but stress here too. Why not change the scenery a bit?
 |
| Aaahhhhhh.... |
Comments
Post a Comment