lawman3966 has left 2 comments

lawman3966 comments on Is Medellin Safe for Americans?

Gringoloid (et al) I'm not the original poster, but thank you all for the info nonetheless. I too once harbored thoughts of visiting Medellin, but now know better. While I'd heard about the druff traffickers and terrorists, the dangers of walking the sidewalks and of kidnapping by women is new to me, and I'm very grateful for the warning. At least, I now know to remain in New Jersey where it's safe. Thanks to those of you who've braved all the dangers so that the rest of us could be forewarned.

lawman3966 comments on Can I retire at my age with my savings

For the fun of it I ran your numbers (nest egg and age) through an annuity calculator at Vanguard/AIG. It yielded $816.32 per month, with inflation adjustments, for life. Other calculators might suggest a higher income is obtainable, but may not include inflation adjustments which are critical for getting a useable number. I'm not an expert on Colombia, but have researched the concept of retirement withdrawal rates a lot. There are various theories about how to best pursue it, all of them having some risk. Another issue is that developing nations will likely experience higher inflation than the U.S. (or Canadian) inflation numbers would. Even with the inflation adjustment, there is a possibility of the buying power of the monthly income being eroded over time. (You're 44 and could be there for 45 years - that's a lot of accumulated inflation). The answer depends on whether you can generate income while in Colombia. If it were me, I wouldn't go with your numbers, unless I had some assurance of being able to work and generate some income to offset the volatility in the cost of living and of your investments. But, you know about those options better than me. You haven't mentioned your possible Canadian retirement benefits, by the way. Will you get CPP? OAS? These could be significant. As long as you've lived in Canada for 20 years after the age of 18, you can get about $500 (that's as of 2008, this number will rise over time) per month from OAS, inflation adjusted, starting at the age of 65. This can be received while living overseas, and is independent of your employment history. CPP is yet another possible benefit, but depends on your work history. It could be worth your while to find out what you could do to supplement your income while there, such as teaching English and the like. Even a small income received during retirement can go a long way toward compensating for the insidious effect of inflation on your nest egg. Good luck.