Retiring in Cartagena,
Colombia
Today, Cartagena, Colombia is a vibrant
growing city with a myriad of new construction projects, hotels,
condominiums, new retail space and private homes. To be sure
it has its problems just like any other growing city, but
the citizens of Cartagena will solve them just as they have
so many times in the past.
You may be saying, to yourself, gee
that’s nice but why would you want to retire and live there?
There
are many reasons to consider Cartagena as a place to retire
or just to visit. Not the least of which is the cost
of living. With an average exchange rate of about 2600
Pesos to 1 U.S. Dollar, your retirement nest egg will go twice
as far and I mean literally twice as far. With the exception
of some imported goods prices are half what they are in the
States or Canada. They manufacture or grow just about everything
here, you will not want for anything. When was the last time
you bought a cart full of groceries for less than a hundred
dollars, I mean everything you need for two for at least a week.
You can take a taxi just about anywhere in the city for less
than $2.00. They brew several brands of local beer; by far the
most popular is Aguila, which sells in the supermarket for around
.40 cents a bottle, .75 to 1.25 in restaurants and on the beach
and it’s a nice beer. Many imported brands are available and
will run in the neighborhood of 2.00 per bottle. Colombia is
famous for the rums that are distilled here. From everyday,
run of the mill white rums to delicious aged golden rums, there
are many brands to choose from and they will cost you between
5.00 and 7.00 a bottle. If you prefer a 12-year-old scotch,
you can pay as high as 30.00 per bottle, imported liquors are
heavily taxed and expensive here. Accommodations are far less
than you would expect in a seaside resort. You can rent a fully
furnished, 3 bedroom 2 bath air-conditioned apartment including
all utilities and cable TV, on or within a block of the beach
and the most you’ll pay in the high season is $850.00. For a
month! That, my friends, is in the high dollar tourist area,
a few blocks off the beaten path you’ll pay 450.00 or less.
If you would prefer a nice hotel and I mean nice, not a dump,
25.00 to 35.00 per day, which usually includes a continental
breakfast with coffee. You can also stay at the 5 star Cartagena
Hilton, that’s here too, but you’ll pay it’s imported.
The
cost of a nice apartment here can range from $30,000 to $150,000
Dollars; this of course is dependent upon location and size.
My wife and I purchased a 3 bedroom 2 bath condominium in a
small, low rise, garden apartment complex. (There are 13 other
units in the building) Our apartment is approximately 1300 square
feet and is located in the heart of Bocagrande. We are literally
blocks from everything and yet our neighborhood is a quiet residential
area. We paid $42,000 and spent another $20,000 to completely
remodel it. Everything is new except the building, which is
about 20 years old and very well maintained. Another plus, there
aren’t any hurricanes here; Cartagena is well out of the hurricane
belt. Let’s make a comparison, an area with similar weather.
South Florida’s Gold Coast, say from Jupiter to Miami Beach
on or near the water. I would conservatively say there is a
90% difference in the cost of housing alone, plus utilities
here are 50% less and taxes are almost non-existent. You can
live on a modest pension here and put money in the bank. Here’s
an example. I took my wife, Mariela, to lunch yesterday, something
we do once or twice a week. We go to different restaurants that
are within walking distance from our home. The Dunia, a two-block
walk, was our choice. When we arrived our favorite waiter Juan
greeted us. He seated us on the patio, under an immense Banyan
tree, I prefer to eat outside, Mariela likes the air-conditioned
dinning room but I prevailed, that doesn’t happen often. We
ordered and Juan brought me an ice-cold Aguila and my wife a
homemade fruit juice while we waited for our food. Mariela ordered
the Special of the Day, meatloaf with rice, vegetables, homemade
cheese soup and salad with avocado dressing. I had one of my
favorites at the Dunia, a filet with black pepper sauce, baked
potato and salad. We had a second round of drinks and thoroughly
enjoyed our lunch. The Dunia is a family owned affair and is
very clean with good service and exceptionally good food. It’s
a medium priced restaurant; our lunch with tip was 27,000 Pesos.
(about $10.50)
The
second reason is personal safety. As I said earlier
Cartagena is a very safe place to live and visit. The city is
surrounded by water on three sides so there is really only one
way in or out if you’re a bad guy and the police and military
heavily patrol the access roads into and out of the city, in
fact they patrol the majority of the northern coast of Colombia
from Cartagena to Santa Marta. The Colombian Navy is headquartered
here on a beautiful historic naval base with a substantial contingent
of Marines. The police and the military are omnipresent in the
city and they don’t put up with any nonsense. All in all it
makes one feel quite safe. Even the Colombians who come here
on vacation marvel at how safe they feel and how tranquil Cartagena
is.
The
third reason is health care, perhaps the most important.
It is a fact of life that as we grow older we require more health
care, wish it wasn’t so but it is. What is the sense of retiring
to a beautiful tropical island or some lush and lovely area
in some far away country and building your dream home if the
closest hospital, with a heart trauma unit is two and a half
hours away over some iffy roads? Or worse, you have to be air
lifted to another island or back to the States. Air medical
evacuation insurance is expensive but if you live in many parts
of the world or on many islands in the Caribbean it is a must.
If you don’t have it and you require the service it will cost
you dearly as much as $25,000.00. That can put a serious dent
in your retirement account not to mention your chances of survival
are greatly diminished. Cartagena has world-class health facilities,
excellent hospitals, clinics and doctors of every discipline,
from brain surgeons to podiatrists and everything in between,
many of them trained in North America and Europe. Need your
teeth fixed? Dental work will cost you 80% less than up north.
Plastic Surgery is peanuts here in comparison to America. Health
insurance is far less expensive, my wife and I pay $32.00US
per month for our family policy and it’s good comprehensive
insurance coverage. Yes, we pay a co-payment when we go to the
doctor, 5,000 Pesos, pocket change! I’ll write a separate article
on health care and elective surgery, if you don’t do anything
else just coming here for your dental work and elective surgery
will save you a fortune.
The
fourth thing is places to go, things to do and the people you
meet. When you retire the worst thing you can do is
sit around the house and vegetate. There are so many things
to do here. My wife has joined a gym, the Body Tech, it’s quite
a place, it takes up half a city block and it has every conceivable
machine plus aerobics and dance classes, everything you could
ever want in a gym. She goes three or four times a week and
she loves it. I prefer to walk; the city has built a walking
path that goes part way around the harbor. It starts at the
Navy Base and goes all the way to the end of Castilogrande.
It takes a little over an hour to make the round trip. I do
this four times a week, grudgingly, but it’s good for my heart
and it keeps the blood flowing so what the heck. We go out to
dinner a couple of times a week, do the happy hour thing once
in a while, spend some time at the beach, we try to go to different
beaches when we go. We walk around the old city (Centro) we
always find a new shop or café or see something we didn’t
know was there.. It’s really a neat place. We have made quite
a few new friends, once you live here for a few months you’ll
find the folks to be quite friendly, you do have to learn a
little Spanish but that can be fun too. All in all, Cartagena
is a great place to live or visit. |