'Retirement.....not 'til 2020, but still retiring there. ' Retirement

Scot from Hell Angeles....ooops, Los Angeles (Contact Member) -

Looking to talk to Americans who have retired to Peru or who are considering retirement there.

I've worked for the City of Los Angeles for 22 years (I'm 42 now) and can retire at age 55 (because I'll the minimum requirement of service years - 30 - by then, I will have 35 years of City service). Because I'll have 35 years of service, I will receive about 85% of my salary instead of only 70%.

I'm thinking a City pension will go really far in Peru (if the dollar remains strong). It has fallen a little in the past 2 years. I was there in 2006 and the exchange rate was 3.3 X 1. It was 3.2 X 1 earlier this year and my girlfriend (a Peruvian National) says the dollar is now around 2.9 X 1. Kinda scary.

Her mom is retired (she's a Peruvian National too, of course) and they live well on 1000 soles a month (about $344 US). IF, I could retire today, my pension would pay me approximately $2400 a month. Sounds like enough for two people to live comofortably on in Peru. In 2020, I estimate I'd receive $3800 and all things being relative, I hope that's enough in 2020.

Americans who have already retired there, did you buy property? Did you buy it BEFORE retirement? Do you rent? What are other things to consider?

I've been to Peru twice in 2 years and I found it was really easy access my money from ATMs (at no charge, no less). I was on Peruvian soil and my money remained on U.S. soil (I kinda like that). I fell in love with Miraflores.

Any tips, pointers, things to help me consider a move there (or not) would be greatly appreciated. I have an MSN hotmail account: sirjabalot@hotmail.com if you'd like to add me to your messenger or just send a personal reply.

Comment #1 Kevin (147.9.22.229) -

I, too, look forward to retiring in Peru. I love it there! My wife is from the Lima area (I am from the USA) and we have been there 3 times in the last 2 1/2 years or so. We just came back from there over the Christmas break. And yes, the exchange rate is down to about 2.9-1.

Yes, money goes a long way there. And the food is great!

We are also looking for homes/condos in the Miraflores or San Isidro area.

Hope to see you there!

Comment #2 Beth Ramos (74.241.237.247) - 02/28/10 17:12

"Retirement in Miraflores"

We presently own a Condo in Miraflores with Ocean view (3 bedrooms, 2 1/2baths). We would like to rent our property until the time that we are ready to retire. Is anyone familiar with an agency who could manage our condo for rental property? Please pass on any information you may have for such an agency.

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