Cheap living costs make Ecuador ideal retirement destination?

The Movechannel.com recently spoke about the International Living conference in Quito, Ecuador. The article mentions one of the presenters stating you can retire in Ecuador for as little at $500 dollars per month.

“Than $500 a Month Expat John Curran watered that seed when he took the stage a bit later. He explained how he and his partner, Sue, are living happy, fulfilling lives in Ecuador’s Vilcabamba Valley (also known as the Valley of Longevity). Their monthly expenses are less than $500/month.”

We believe that this figure is very low and overly optimistic with current costs in Ecuador for most expats. It is our opinion that for most people considering a move to Ecuador, that the $500 number may not be realistic in most cases no purchase a lifestyle that most may be accustomed to.

The current minimum wage in Ecuador is $264.00. Taking two people at this amount would just be over the $500.00. The basket of basic goods for a family of four in 2010 was just under $500.00.

While there are some expatriates that may be very skilled at living a frugal lifesytle, one should look very carefully at the costs in Ecuador in order to maintain the lifestyle they are currently accustomed to. We believe the $500 amount per month for two is the exception and not the rule for living a comfortable lifestyle in Ecuador.

Example: If you only have $500 a month to live on and move to Ecuador and want to visit home in the U.S. once a year, you can expect your ticket will be at least $1200.00. That is a $100 dollars a month for one person. For two, and had to save the money out of your $500.00 a month you would be down to $300.00 a month to live on. Also, items such as refrigerators and other household items are more expensive then in the U.S.
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