Budgeting in Retirement in Ecuador

Budgeting in Ecuador
Since the income requirements for a VISA in Ecuador has been raised from $425 to $1275, a lot of fixed income retirees can hardly afford to live here. They simply don't have enough income in their pension to qualify for a Retirement VISA here in Ecuador.
The harsh reality though is that if you are worried about making it on $1275, you probably should not come here because truth be known, to live a reasonably comfort lifestyle here, you need more than $1275 per month.
This video covers my budget samples and an example of a typical budget that is needed to live here.
Me:
Instagram: @shaderdon
Facebook: / don.shader
If you can't walk on water, freeze it
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The views expressed in this video are in no way intended to be taken as advice on retirement, migrating to Ecuador, investing, buying insurance, or getting your immigration documentation.
I am not responsible for any decision you make after watching my videos.
I don't give advice and I don't recommend anything unless it is based on my own personal, verifiable experience.
I want to be sure that the information I provide is accurate information and I don't want people to make a poor choice based on anything I say.
If one person comes here based on my influence and doesn't like it at all, then has to return to start all over again, I have failed.

[@marktanney3347]

Don, I think it is important for people to be realistic and what you are saying is helpful and useful. And I do agree that if a person does not have the basic minimum to get a pensioner's visa, it's going to be tight here in Ecuador. Probably too tight for most. But in my experience, you can live well on that $1275 figure. You won't be visiting home often on the budget, but you can have good life here. Don, the lifestyle you enjoy is getting pretty close to a US lifestyle in a lot of ways, and you live in a relatively expensive town. But if a person is willing to live in a less expensive beach town, or a small to medium mountain town, or if they love nature, it can be done well on the $1275. Life in the US is true poverty for many if they live on only Social Security. When a person is faced with true poverty, and they have an alternative like a modest life in Ecuador, a person can find a lot of happiness in Ecuador for $1275. So I agree completely with what you are saying about keeping expectations realistic. A person is going to have to deal with real culture shock to live in Ecuador for $1275. But if their other option is genuine poverty in the US, it is good to have this option.

[@tomcorridan5236]

Hi Don. Great information...I wouldn't expect anything less....health insurance cost us $850 a month here in the states.....that is one of the main reasons. For hoping Ecuador is an option....

[@jeanniebennett3708]

We are also going to Ecuador for the same reason …

[@exportrus1]

Thank you for all this great information. I also copied your spreadsheet. My wife and I are seriously looking at Ecuador when we retire in a few years.

[@churchofpos2279]

When we retire, it comes down to making financial decisions and learning the difference between wants and needs. If you are not willing to reassess your wants and needs on a regular basis, then you will continue to have financial struggles.

[@DonShader]

Agreed.

[@tmcdon]

Don! ALWAYS great to see you! Thank you for your candor, as always. I appreciate your perspective, insight, and willingness to share your personal experiences.

[@jerrygarcia4390]

Excellent video, Don. Thanks for sharing the spreadsheet.

[@DoubleOld7]

Thanks for your candor. Many KZbinrs paint a rosy picture of life that is just not practical for most of us.

[@DonShader]

You got it!

[@562yankees2008]

The beauty about my country Ecuador is that when i retired God willing in five years, i can buy a house cash and paid around $300 dls a year on property Taxes instead of $5k plus a year.

[@booboo5244]

Hi Don: I think everyone has a different way of being happy. There are many happy Ecuadorians who live below $1200. Because they compromise. No eating out, no alcohol, no private driver etc. They spend 30% of their income on housing. Obviously this may not work in Monta. But there are so many beautiful cities in Ecuador. People find a way to live within their budget. Same is true in the U.S. I agree with you on getting rid of your debt.

[@andresloaysa4283]

Man, I can live with only 500 per month 🤣 ....

[@jeanniepeters5341]

Don, please don't feel bad, nothing like the truth. I'm sure there are other places/opportunities elsewhere for those who can't afford living there. Thanks for putting things into perspective by sharing that spreadsheet.

[@herculepoirot3825]

First off thank you Don I appreciate all of your efforts and insights. Secondly you’re living your reality. Thirdly one should take your information and insight and figure out their life and lifestyle from there. I enjoy your candor and look forward to whatever information that you provide. Stay safe, enjoy life, and rest assured that there is people out here in the world that enjoy the content that you provide.

[@sherrym2337]

This was the most sensible video I have seen for what it's really going to cost to live in Ecuador and other retirement countries as well. I shake my head when I see those videos for how to live in, fill in the blank, for a few hundred dollars. It's just not going to be reality for most people. The local people from these countries have to live on that because that's all they earn. They live extremely modest, in a way that people from highly developed countries have not had to. That doesn't mean it won't be cheaper than USA or fill in the blank. It just means that you have to investigate, plan, ask questions, and be realistic about your expectations now and for the years ahead. Great video!

[@DonShader]

Well said. Thank you Sherry. -ds

[@nellie...]

Oh my! Didn't imagine it was going to go that hi. Thanks Don for the update.

[@tennisisphysical]

Hey Don. Good advice!! A single person needs $1,300 / month to live well anywhere!

[@tomtaylor3523]

Everyone has their own preferences and different people will spend $$ on items they prefer. Imagine the cost in the US to have an ocean view from their apt.? Don, Thanks for your videos and the information you provide.

[@adyh3004]

Yeah ocean view in the US $ 3,500 Monthly easy ....

[@562yankees2008]

I live in South orange county and the cost just to see a LITTLE of the ocean is $5k @@adyh3004

[@pauladuncanadams1750]

Thank you for being honest about your experience. Other influencers might not be as candid because thety are being paid to promote. So, I understand how someone with almost no funds would think they can live like a king for nothing. But cheap is relative. You are paying less for a better environment than most. Yes, it's true, you can pay as much as you are willing to pay for that. I live on the Monterey Peninsula, Central Coast, California. I live about a mile from the beach, less if I walk and take shortcuts. I live in a mobile home park. All the homes in the park are actually owned by the landlord. They were all built in 1985 and are literally falling apart. They leak, have mold and other issues. They aren't fixed, they are poorly maintained to a bare minimum. Our 800 sf unit is over $2300 per month. Yes, we live in an exclusive resort area that is environmentally protected. Everything is expensive here. Both water and housing is at a premium. Median home prices in my aree (cheapside) is about 800k. Median rent is $2625. Sure, I could live in Florida for cheaper, except that I would have to constantly file for FEMA funds. I don't know how many hurricanes in Ecuador but I know Coast Rica has only had one recorded in their whole history. So there is that. I'm just trying to put things in perspective a bit as you are for us. Things are expensive all over. People need to be realistic and set their values and expectations accordingly,

[@pauladuncanadams1750]

Monthly spread sheet: Rent $2355 (increases annually); Internet $100 unlimited; Water (tap not bottled) and sewer $50-100 depending on season; Gas/electric (heat, air-conditioning, washer, dryer, dishwasher, oven and stove) $200-250 per month; Transportation $50-100 per Tank Fillup (not including vehicle, registration, insurance or maintenance); groceries $1000 ($250/wk); Insurance 1×Medicare A&B+ insurance and 1× insurance $425; Cell phone x2 unlimited + 1x land line $150. Dropped Dish when my husband retired from AT&T. We had employee plan. Price increased from $35/mo to over $100/mo. So, Ecuador isn't free but maybe affordable.

[@whacked00]

Great discussion, Don. So important to have realistic expectations. Of course, living in north Denver, even $2000 a month sounds cheap! Some people are phenomenal at managing their money, some of us are not. I don't think we could expect to suddenly become frugal and efficient in our spending when we retire if during our life we have not been that person. Having a realistic plan that includes all of those extra items you mentioned as well as occasional trips home if you have family is important. I totally agree and eliminating debt before moving. But I would say eliminating debt before retiring is key no matter where you live.

[@susywilliams9217]

Don, once thank you for your honesty. perhaps the Philippines for those who need to be very frugal. Great work my friend!

[@DonShader]

Thanks for watching

[@therehastobesomethingmoore]

It seems like Ecuador and Colombia are fairly close in cost of living, with Colombia coming in a bit less expensive. We are looking at both among many others. Thanks for the info….good video !

[@allisonmeyer4521]

Some other often overlooked costs are a mail scanning service for mail from your home country and a VPN. Appreciate you trying to keep things real as a lot of Ecuador cost of living videos skip entire categories of expenses - particularly the ones that occur sometimes but not every month.

[@tomsaxton970]

Very true. And we still pay taxes in the US too.

[@DonShader]

Thanks for the info!

[@ThePeacevine]

Thank you Don. Reality is that it costs to live anywhere. I plan on going the work visa route after I get my certification. Hope to share a nice bottle of red with you by Christmas.

[@brirags]

Ecuador looking better by the day

[@tomsaxton970]

I've lived in the Riobamba area almost 3 years. I agree with everything Don is saying except housing. I'm not saying it's incorrect in Manta, but I am saying there are many nice places to live with 1/2 that rent. In Riobamba, you could get a 5 bedroom super nice furnished house for $600 per month. Very nice 3 bedroom 2.5 bath townhouse in a gated community about $350 (unfurnished). But, in order to live in less expensive areas, you need to be better able to communicate in Spanish. You need to expect fewer if any gringos. I love where I live, but my wife is Ecuadorian. I could not have made it here my first couple of years without her because my Spanish is bad and just paying bills is very complicated. But you can have a higher standard of living off the beaten path. However, I totally agree with Don, it would be very uncomfortable to lock yourself in a hut in a foreign country and try to survive on less than or equal to the visa required income.

[@tomsaxton970]

@@elgringoec El Altar

[@DonShader]

Bueno para ti y bendiciones para ti también.

[@robbies2604]

Thanks for doing this video! I tell people all the time about your move to Ecuador and now I can update the facts based on what I just learned. Of course, I always refer them to your YT channel🤗.

[@antonioescobar1335]

You need to make a comission of expats and ask for an audience with the authorities and expose this to the media. We need you expats and you help our economy.

[@tinak3271]

The more I learned about Ecuador I realized that all those videos you are talking about were putting that figure of how much it would cost to live there too low. Luckily, my husband I did pay off all our debt and always lived below our means so that we could have a good retirement. Ecuador is about a third the cost of what we spend in the US so it is a bargain to us, still. I guess we are lucky that we can still live fine in the US so I don't expect it to be too much of a shock. You may want to check one fact. I have heard if you have a married couple it's 1275 for the first person and then 250 for the second, but you'll have to research that because I may be wrong. I really appreciate the fact that you are truthful about things. It makes it easier to plan and get expectations to a reasonable degree. I now expect that it will cost more than I anticipated. I guess I have more negative expectations. Like, will I learn enough Spanish before I move there to communicate or will I be able to navigate the bureaucracy etc. One thing I have good expectations is that the weather will be good. Thank you for being truthful. And I love your videos.

[@DonShader]

Thank you Tina. I appreciate you. -ds

[@susanmarling2079]

Thanks for another great video, Don. I really appreciate your truthful evaluation of the costs in Manta. While we enjoyed our snowbird adventure in Manta, I can't say I would consider living there full time. There just isn't enough to do.

[@DonShader]

You are SO right about that. I'm reasonably sure I'm going to leave Manta within the next couple months just because of shear boredom.

[@larry4477]

@@DonShader Hey Don, love your videos and your honest comments. My wife and I are planning a near future trip to Ecuador and would love to meet you.

[@tone5052]

I doubt I'll ever make my way down there, but gotta say your videos are super informative. Thank you.

[@glenbirbeck4098]

Anyone put off by your description shouldn't come....they would not last anyway. This is too much like how long is a piece of string. And, at 14:01.....I didn't know Clairol marketed cell phones as well as shampoo. Thanks for the overview. Makes me feel really frugal. Back in Vilcabamba next week, gracias a Dios!

[@DonShader]

Wrong company, Claro is a cell phone compnay here. NOT Clairol.

[@blainebradley1833]

Hi Don. Another great video. I did have trouble seeing the spreadsheet. Maybe next time you could increase the font to 150 or 200% for us old guys. lol Missing Manta already!

[@DonShader]

Noted! I agree. I should have made it full screen but for some reason, it slipped my mind. Believe it or not, this is the very first time I ever recorded straight off my computer like this. Hope you guys are doing ok now that you're back home. Next year, you might be getting an invite from me, from Queretero, Mexico. -ds

[@markwysierski8903]

Helps if you change the video to HD (1440) or higher. At lower resolution is not readable.

[@chanceofd]

Thanks for the video. Enjoyed the data and the attitude!

[@DonShader]

Glad you enjoyed it!

[@lesliedavid1244]

I’ve been looking at Cuenca and I want to rent a 1 or 2 BR which will allow my declawed cat. She can’t scratch but she does shed. Don’t really want to drive. I’ll have my SS, whatever is in my 401k and my IRA, plus my VA disability.

[@olgalucanu8513]

HI Don, Love, love, love your videos! The videos are made very professionally, in a humorous, artistic mod and it just made my heart smile! Even the news not so good are easily digestible due to your style! Congratulations! We would love to meet you when in Ecuador next year!

[@DonShader]

I hope I get the opportunity to meet. Please be safe and stay healthy.

[@thaimaxcan]

You doing a great job telling as it is. Ecuador is still cheaper than Thailand. Here retirement extension require 65 000 THB per month. 1940 $ USD at the actual exchange rate or a deposit of 800 000 THB in a local bank.23,877 $ USD At today exchange rate. I follow your channel in case I need a plan B if I have to leave Thailand if they increase the retirement amount.

[@joann5157]

Don, don't ever feel bad for telling the truth! We love that you tell it like it is versus spinning a fairytale. Keep up your wonderful videos!!

[@DonShader]

Thank you, I will

[@LB-ty6ks]

Wherever you think you might like to relocate you take a big chance if you don't first visit and get a first hand idea of what your income will get you. What's possible may not be what is acceptable.

[@peterallen6726]

Excellent Reality based video. Thankyou Don !

[@cliffordmarkell40]

I live in barrier Hawkeye. My rent is two hundred dollars with internet water and electricity I'm wonderful neighbor.

[@marite135]

US$1,275 wil not by any means allow you to live in the states for sure. You would probably live much better in Ecuador than the states if you choose a place away from the beach.

[@pamelahaskin9738]

I so appreciate your honesty. Thanks for sharing all this info. My husband and I are planning a survey trip this fall.

[@DonShader]

Glad it was helpful! Good luck to you and please be safe.

[@dugfriendly]

Tremendous public service, Don. Funny enough, I live on less than your budget in in Southern Oregon. But I'm very simple. About 45% of my wages are for living, the rest goes into savings. That's after taxes and 401k. But I imagine you're right on the money here. The $1275/mo is a prudent move. Of course, it's possible to come in with investment or degree certification and only have to show $425/mo. But that doesn't mean a person could get by. And it isn't fair to Ecuadorian people to come down and take from their social safety net. Once again, great video!

[@DonShader]

Thanks so much. You are dead on right. -ds

[@ecuadorhusker2449]

I like your truthfulness Don so you have a little silver spoon in your mouth LOL that's ok. The truth is you can live here easily on $850 a month. My wife and I own a big beautiful home on the ocean no debt. With health insurance and eating and yes we use the bus and local taxi service to go everywhere still maintain under $850 a month spending. And we do live on the higher side. Very comfortable love the people love this area I love this lifestyle. Manta is a higher price of living than here in the coastal towns

[@markwysierski8903]

Your argument makes no sense. It actually confirms his budget. You wrote that you OWN your house AND that it is not in a city and has lower costs. His budget includes rent. Including his (low) rent cost with your claimed cost that would be $1450/ month. Basically you confirm his budget.

[@kathyandthedogs626]

Don, this is an excellent video with great information. Thank you!

[@DonShader]

Glad it was helpful!

[@kellybrown1860]

Thanks for keeping it real Don and telling it like it is people need to here this

[@DonShader]

You're most welcome. Thanks for watching.

[@merrillkingston8807]

Very interesting and informative video. I moved to Colombia 16 years ago and haven't looked back but, recently, my wife (Colombian) and I have been looking into Ecuador. However, Ecuador seems to be somewhat less attractive and certainly more expensive than Colombia. Thank you very much for your frank presentation.

[@DonShader]

I've met several people from Columbia and they mostly all say they like Columbia better than here. I think the city you land in is more important than anything else. Manta is where I'm at and while it's great for many, it's not for about the same number of people.

[@MrJx4000]

Thanks Don. That's an eye opener for sure; it just confirmed for me that I won't be going there anytime soon.

[@DonShader]

Glad to help

[@jimshomecomforts8505]

Thanks Don, I believe that they've raised the minimum income is because there trying to attract a different type of gringos. They want people to be able to add value to Equador.

[@DonShader]

I don't necessarily agree with that but thanks for your opinion anyway. -ds

[@DonShader]

Someone told me they want to eliminate bottom feeders. I mentioned that to another viewer and he got all bent out of shape but there ARE some people that come here looking for super cheap accommodations and when they discover that it's not as easy as that, they become a problem to everyone and most leave. I question whether its a strategic move by EC to weed out the lower, non-contributing expats and attract more higher income expats that have money to spend. Doesn't really seem fair to me.

[@kellierulla1735]

Great subject to cover! A realistic view of costs is very important. It is a lot of effort and cost to make the move only to find out that it is not as cheap as you thought. The new income requirements seem reasonable.

[@DonShader]

We agree!

[@evelyngolden2272]

Thanks for sharing. Great content.

[@DonShader]

Thanks for watching!

[@comrade916]

There is a saying that the grass always looks greener on the other side of the fence.. I have been doing a lot of research the past year about the possibility of retiring abroad. There are so many things to consider when making this decision. Many individuals make the move only to find out the hard way and lose a lot of money. Countries around the world are making it more difficult to obtain residency visas.. One would think that after the difficult impact the Covid pandemic caused on world economies, many countries would be making easier for individuals to obtain residency.. Personally, I have still not decided on where I plan to retire, especially since I plan to retire well before the official retirement age in the U.S. My suggestion to anyone thinking about going abroad for good, is to go there first for an extended visit. Think about the tax implications as well. Believe or not, but many countries will tax U.S. paid social security benefits and most countries have a very low exemption threshold. For example, Portugal will tax all Social security and pension at an income rate of up to 48 percent and I believe the exemption is about 5,000 dollars per person per year. The U.S. has an exemption of about 12,000 dollars per person per year. Thus with an average social security payment of 1500, one could easily pay 25 percent income tax to the government of Portugal. The good thing is that Portugal does offer first time residents a reduction in income tax at rate of 10 percent (10 years only), but after the ten years, look out!

[@sluiceboxcharlie9836]

Once again thank you Don.

[@dodgerblue7381]

Cuenca still sounds nice to me. Everyone has a different spending pattern and budget. It still sounds like you have a good life Don.

[@DonShader]

I think I have a very good life. I have a GF that I love very much, I have more than enough money to live comfortably on, and my health is reasonably good. I have a lot to be grateful for.

[@dodgerblue7381]

@@DonShader Certainly you do have a lot to be grateful for but also my friend, you have earned it.

[@BigSlimyBlob]

The monthly income requirement being tripled is a major obstacle to retirees aiming for Ecuador, I'll fully agree with that. Triple! Still, the actual cost of things really depends on your wants. I don't want much, so I spend about 1,214 USD a month to live... in Canada. I expect, in Ecuador, I would be spending between 500 and 600 USD a month. Not discouraged at all.

[@DonShader]

I personally don't see how you would do it. But if you chose to live in a hut in the forest or some shack in the poorest of neighborhoods, you could probably rent something pretty cheap, not affordable, but CHEAP, I think your life will be miserable and you won't be staying here long. Good luck to you.

[@BigSlimyBlob]

@@DonShader Thanks. Most people don't understand how I live on my budget in Canada either, many don't even believe it's possible to live on that much! The reality is, I still have way too much wasteful luxury. I hate that my house is twice as big as I wanted, I hate that I have to own a car. Between the lower prices in Ecuador and the option to own far less than is mandatory here in Canada, I know I can get a much simpler life for less than half the cost. It's possible that I don't realize how lucky I am that I love cheap ways of living and despise expensive ones.

[@sandrafulcher7611]

Hello, I agree it can & will be as expensive as you want or need it to be! I also know it would be hard press to find a place to rent in Washington State (that's desent) for under 1300.00! Thanks for your info.

[@Robertsdogs]

Thanks for your perspective! It's always valuable. I've had friends believe the MYTH, that you can "Live like a king" in other countries, and then need to come back to the US, and realize, there are no government programs to help them get back. Our biggest issue as seniors, is our income in the US, will go further than in the US, sad, but true. But living like a King, you'd be living like that in the US.

[@DonShader]

I couldn't agree more Robert. Thanks for you feedback.

[@fabianserrano9371]

wow Don $375 for food just for one. but its ok you choose thant kind of lifestyle. As you said In Cuenca and here in Quito rent is chepear. I pay 300 per month for 100 square mts with 30 mts balcony for a 5 years old building. 3 bedrooms . my living room has space for 7 seats , dining table for 8 .

[@petermark8976]

Is there any available units for rent there? Where can I look?

[@fabianserrano9371]

@@petermark8976 Sorry no. where do you live?

[@tourguideecuador2764]

Specially if you buy at Supermaxi things would cost you 50% + more , buying at local farmer markets that most neighborhoods have , prices are way cheaper

[@Resmith18SR]

Thanks for bragging about your place there for us Fabian.

[@haroldwaynejackson7880]

That all makes sense, Don. The $1275 even makes sense. If Ecuador wants to attract people who actually can actually afford to live there, so be it. I'm setting down roots in Cuenca and vacationing in Manta (very often) or where ever my fancy takes me.

[@DonShader]

Cuenca is a good spot and you have a lot of choices to make. Good luck to you.

[@rosariociancanelli2192]

A Budget is a tool to help you live your life. A Budget tells you what you can afford and what you can't afford.

[@DonShader]

I wouldn't have any money saved up were it not for budgeting. It's AMAZING to me how so many people don't bother with one.

[@rorybellamy2533]

maybe time to live in Cuenca or Loja for $300. Rent

[@DonShader]

If I could handle the altitude, that's exactly what I would do but I have COPD and it's pretty difficult for me.

[@melisherwood5300]

I think a lot of these people making YT vidoes tend to give an idealistic view to potentil expats, including the small businesses that offer relocation tours. Another factor that a lot of people may not realise is the cost of having a pet (or two). I am in Mexico with my dog and being in a new place, I had to deal with her getting into things that she was not faced with before and I was constantly seeing vets, getting meds etc. It is reasonably priced, but still it is one more thing that you have to be prepared for. The same thing for people dealing with unexpected events because everything is different.

[@trevorwhite5127]

Great video Don, thanks for your honesty 👍

[@DonShader]

You bet

[@eugenepetitt7840]

The hell with the beach how many times looking at the same spot and paying all that money

[@DonShader]

What money?

[@albertconstant203]

Thanks for your advice Don. Great Work

[@DonShader]

Very welcome

[@RickFidelisReed]

NOW, Twice that much in Mexico 🇲🇽.

[@jlynnburton9718]

I would think by raising the amount that will prevent allot of broke foreigners from being in their country when 10% of the native citizens already live on less than $3.20 USD per day. so they already have enough of their own to help out. So i don't blame any country for have an amount in the range of $1200-1500 for a Visa requirement. I would had done the same thing If I was in charge of setting the Amount.

[@tinak3271]

I couldn't understand it when I first learned that Ecuador only had a requirement of $425. How is that possible? Just moving is going to be expensive by anyone's standard. So when they changed it, it seemed more reasonable. And I can certainly understand if the country wants to attracts residents who can improve their economy. I do feel bad for the people who were planning on moving here and can't now though. Because some of those people do have enough money to retire in Ecuador but can't show an income.

[@reiniergarcia]

You are a cruel person.

[@anonymousinvestigates3942]

I want to thank you for your honesty its really refreshing. Take care and God bless.

[@DonShader]

You are so welcome

[@rvdareyet7201]

Excellent video and sage advice. Thank you very much!

[@DonShader]

You are so welcome

[@peterlessard]

Hey Don, appreciate your videos and the realistic expectations your setting. Wife and I enjoy the finer things in life and having paid for them in some of the most expensive locations in the world, for us Equador is a no brainer.... Two quick questions when time allows. 1. In your estimation would cost of living change much in Salinas Vs Manta? 2. I work online, you mentioned internet having issues when streaming. Do you suffer frequent outages where it totally disconnects? or more so up and down speed issues? thanks! Peter

[@DonShader]

Peter, I honestly can't answer for Salinas other than I wouldn't live there under any circumstances. Salina is a party city and too close to Guayaquil for my comfort. As far as cost of living, Manta is probably to more expensive coastal city to live in. No, I don't have many issues with my Internet. I use Netlife and they have been very reliable so far. -ds

[@peterlessard]

@@DonShader much appreciated! We are looking for a party city on the weekends that becomes quiet during the week and my understanding is that’s the case there. Do you feel that crime and issues associated with guayaquil affect Salinas? If so we may rethink and go for Manta. Thank you.

[@MisterGrumpalicious]

Investor Visa. 45,500 you need to give you 2 years of living in Ecuador then apply for permanent residency after 21 months. I'll have 80-90k so no big deal, plus 1100 a month in SS. Just live in a small town. I was there for 6 weeks a few months ago. Lots of opportunity there to build a small business. I'm not giving away exactly what I figured out but I found 4 small business ideas that are missing there that I could do and hire locals to work for me. I can bet you the 1275 will be lowered next year. 1000 most likely. They will lose too many expats who won't even consider going there, and the US housing will collapse soon, it's kinda doomed. Too many homes now being built with no buyers and lots of canceled contracts are coming in the next few months because of the rapid rise of interest rates. Our economy affects the world, including Ecuador.

[@DonShader]

No offense James but why do you think they will lower the income requirement to 1000? Ecuador is already losing expats.

[@RonJonesReports]

Great info!! Not a lot of fluff and Propaganda. Much appreciated sir

[@DonShader]

Glad it was helpful!

[@eprohoda]

good morning! insane video-workk! mr~

[@timmartin4188]

Thanks for being realistic Don!

[@DonShader]

Always!

[@edshipe2555]

Thanks for all the info Don your a big help. No matter how I do the math it still looks like I'd be able to save at the minimum 20 % a month over here near Pittsburgh PA. For 2 people in most of the US you need social security plus at least a million saved not to worry about running out. I'm not quite that rich lol. Inflation overpriced healthcare / insurance and here in PA property taxes / rents

[@DonShader]

I hear ya brother. I don't see how people make it in the US any more without a substantial savings and a healthy pension. Good luck to you.

[@johnportilla4978]

Mr. Don I would agree with you the cost of living is going up everywhere in the world. I live in Mexico used to hard for me to spend 1000 U.S. per mouth. I spend about 1200. U.S. now, still must cheaper than U.S. I think the lifestyle is much beter in Mexico for me than U.S. Thank you for being so honest!

[@DonShader]

John, please drop me a line at my email address, I'd like to pick your brain about some things if you don't mind. [e-mail]

[@overlandecuador8893]

Do not come unless you have $2000 a month plus an income. That is my suggestion for top quality on a budget.

[@frankkluz9787]

Hey Don --- '''If''' - we presume to use $1275 (which they now require) - I suggest a 30% max for rent - & that's $382.50 - as a place to begin a 'hypothetical' budget - perhaps a better fit for Cuenca's cost of living ? (cheaper than Manta) Seems more achievable (?) for this "hypothetical" Ecudor budget ? -- Trying to fit the so called "requirement" into the real world ! ---?--- This - perhaps - helps to see why it is what it is ? --- Cuenca - now - '''might''' be a good fit for the current average SS check of $1688.69 ? - This would allow some room for saving a little and maybe for some occasional travel. Over 65 gets some nicely discounted travel rates ! ---?--- What do you think ??? - - - All those $500 - $1000/month retirement video's are a pipe dream which few could do.

[@DonShader]

You’re absolutely right about the pipe dream part. In my estimation, $2,000 net per month is minimum for a comfortable lifestyle in Manta, $1,500 anywhere else. But of course everything is dependent on one’s lifestyle. I know people living here on less money but they’re not as happy as I am and I’m hardly happy at all here.

[@Robinsvideos2011]

Why aren't you happy there? @@DonShader

[@DonShader]

Tired of being a victim here. @@Robinsvideos2011

[@annthrockmorton1517]

Manta is looking more and more like the best option, especially, as you point out, now that Mexico has raised its financial requirements for a Residente Temporal Visa. Thanks for a realistic look at the numbers.

[@tomsaxton970]

Manta is actually quite expensive compared to other locations in Ecuador.

[@DonShader]

That is true.

[@theseniorthrifter9994]

Excellent video as usual. Can a person on a retirement visa run a busines?. I am a dog trainer and walker and would like to work after I move to Ecuador. Curious as to whether or not there are any restrictions on working. Thanks much!

[@juicebox853]

If your budget is $1200 a month, there may not be many options elsewhere in the world. On $1200 minimizing housing costs is key. I think someone could live pretty well in Cuenca on that. Paul

[@DonShader]

Very possible but there will be a few limitations on things one could do. A lot of things come up that we all don't think about. I wouldn't be comfortable with that amount.

[@reiniergarcia]

Not everybody gets 1275 usd from the social security. Ecuador is out of the picture now.

[@DonShader]

Everybody's circumstances are different. Most people I know that are recieving SSA benefits earn a lot more than $1275.

[@eugenepetitt7840]

At 2500 a mount i dont have to live in Ecuador [3 world country] you can live in a lot of European countries.

[@DonShader]

No thanks. Have a great time.

[@christopherhouse7937]

Hi Don! In Cuenca Ecuador do you know or hear of studio’s or a 1 bedroom apartments going for under $250-$300USD per month?. Great Video like all the rest! 😁👍🏻

[@DonShader]

Hi Christopher, I don't know of any but I know you can rent a house outside the city proper that's a .50 cent bus ride to downtown for about $350. The best starting point for finding these more than affordable rentals is GringoPost.com.

[@captainmorgan7809]

The VISA income price hike may have just made the move to Ecuador less attractive to some and placed them on the fence over taking the plunge. Tripling the amount sounds more like Government greed (and may backfire). How does that old saying go "You can catch more flies with honey than with vinegar." When greed is afoot it's never a good sign.

[@davidc1961utube]

Greed? Think for a moment how Americans react to broke immigrants coming into the US. No country wants indigent immigrants burdening the limited social services system.

[@DonShader]

Like David said.

[@barnabyjara4751]

If you want to bring your American lifestyle to Ecuador it is expensive. Just think that the average Ecuadorian family lives on 700 dollars a month. And NO, they don't live in huts where they get wet if it rains. But they do not pay 700 for a luxury apartment either.

[@DonShader]

Well hallelujah! And it's amazing to me how these poor people can afford all that sound equipment.

[@egreene59]

I think it's important, especially in retirement, to think about what you enjoy doing and how you want to spend your time (in addition to cost of living). Then, determine if these activities are available where you are considering living. You might be able to find a very cheap place to live in Ecuador (or in some other country) in a small town somewhere, where the cost of living is very low, but if you can't engage in activities or pursue interests that you enjoy to occupy your time, you're going to be miserable, no matter how cheap it is to live there. It's not just about paying the rent, utilities and buying food. In my case, for example, participating in community theatre is a passion of mine. I don't want to live anywhere where I can't be involved with theatre, regardless of how beautiful the location is or how easy it is on my wallet. I did my research and found that Cuenca has a very active ex-pat community theatre group. It's one of the reasons I am planning on going down there in late November for a visit for a few days to check the city out, because I am planning on retiring for real in a year or two.

[@DonShader]

Good point Earle. That's one of the reasons why I'm not such a great fan of Manta, and will be leaving soon. I'm not a beach person and I don't like the damage the salt air is doing to my gear. Plan on more than just a few days to visit Cuenca. You should be there at least a couple months. Cuenca is awesome but it's not for everyone because of the climate and the altitude. Just sayin.

[@egreene59]

@@DonShader This trip in November is just a vacation, combined with a few days in Quito, my old stomping ground. I do plan to return at a later date for a longer visit. I’m sure I can deal with the altitude, however, since I lived in Quito for 3 years and that is higher elevation than Cuenca.

[@DonShader]

@@egreene59 Oh then you should be just fine. Glad for you.

[@tourguideecuador2764]

Come on Mr. Shader , you GOT the Answer , dropping , beach front rent from $850 per month to Cuenca s apartment $450 per month beautiful flat .... those $400 savings would be your monthly groceries , play smart , All the Best 👋👋😃👍

[@DonShader]

But there's only one issue, I have to breathe. :-)

[@thereishope5676]

I guess these are Bankster rules, because they own the Tax Departements as well. They lost a few countries, and have to make up for this.

[@monicahiatt]

Another thing people forget to budget for is for traveling back to their original/home country. It costs a chunk.

[@DonShader]

I believe I mentioned that. One thing I didn't mention because I just didn't think about it till after posting the video is Pet care for those that are bringing them. I guess if I wait long enough, I can probably come up with more budget items to add because many people have many different lifestyles and requirements.

[@monicahiatt]

@@DonShader I appreciate your covering that, I missed hearing it. 🙃

[@DonShader]

@@monicahiatt My pleasure.

[@wetcatfud6108]

Thanks for keeping it real.

[@DonShader]

Always!

[@perfectlylonely]

Thanks for the honesty

[@DonShader]

Always!

[@robertsimmons5575]

thank you for your honesty

[@DonShader]

My pleasure!

[@davidc1961utube]

In the "other" category I would suggest pets. Although you do not have any, many people do, and they should therefore budget for care and feeding of fur babies. The coast is also a relatively expensive part of Ecuador, based on my fairly diverse sampling of AirBnBs, and local restaurants. The thing is, a much cheaper city is only going to be 200-400/month cheaper, because the numbers for food and rent are so low already. Could be a big quality of life sacrifice for a small dollar amount in savings. I am certain there are small towns in rural Oregon, Montana, Oklahoma, Kentucky and Alabama that are about as cheap as Manta, or Quito, as long as you are OK with Medicare. The question folks with limited means have to ask themselves is which do they prefer?

[@DonShader]

I totally forgot about pets but that's a good point. Thanks David. Hope you're staying safe. -ds

[@rantasia360]

Hi Don, thank you again for your candid advice, however, as your speaking I'm thinking, but IF I only had only $1275/mo, and CAN'T afford Ecuador, then how could I possibly afford the US? Just thinking...

[@DonShader]

You can't. That's all there is to it. I don't see how anyone make less than six figures can live a quality life in the US. Things have got to change. If I moved back, I'd be out on the streets.

[@new289]

In for a penny in for a pound, looks like you're stuck there.

[@DonShader]

@@new289 You again? I'm not stuck here. Why are you saying that? Are you trying to start a fight?

[@michaelcroom2601]

Enjoy the video Don. Think Ecuador is doing a favor not letting people come with 500.dollars a month.

[@DonShader]

I agree completely.

[@therehastobesomethingmoore]

$1275 is doubled for a retired couple to $2550 ? I think for a spouse/dependent it is just another $250. Does that sound right ? Thx !

[@DonShader]

I honestly don't know any more. You'd have to talk to a facilitator or immigration attorney to get an accurate answer.

[@therehastobesomethingmoore]

@@DonShader I found it. An extra $250 for spouse or dependents .not bad at all ! Thx

[@valarieknight7990]

Thank you for this! Helps me to plan so much better. Quick question, you were adamant about not coming to Ecuador with debt? I'm curious as to why? I've been debt free for more than 20 years. Hardest part of this is establishing credit, so I can get a Schwab account, because I've never used credit. Always pay cash. But am curious about your debt comment. Thanks!

[@DonShader]

Debt is bad. Under any circumstances. I lived with it for years. The problem with debt is that it was always a drain on my wealth. In my case, my income dropped dramatically when I retired. My SS, my investments and my other income from KZbin can only go so far which is why I chose to retire outside the money suckin US. I didn't want to be burdened with debt when I came here because even after watching all the KZbin "experts" talk about how affordable it is to live here, once I got here, I found out it wasn't as affordable as I was led to believe, especially based on MY lifestyle. Even at that though, I still manage to feed my reserve fund every month and life is good. Well, except for the frickin dogs barking. I monitor my credit score even though I can't imagine why, I guess it's a morbid curiosity but my score increased tremendously after I paid off all my debt, which was a mortgage, car payment, a couple credit cards, etc. Now that I'm not in debt, I notice that the score inches downward slowly but I just make a couple purchases on one of my credit cards and it goes back up.

[@robertofarias7423]

Don, great content so thank you for that. Now that I got that out of the way I have a question, you mention that you have been there basically a year. Did you file your Income Taxes in Ecuador? Can you elaborate or even better do a video on Income Taxes in Ecuador as an Expat and all relevant requirements? Taking it a step further are there any or do you have any insight as to who to go to get that done in Ecuador? Many thanks Don, keep up the great work, love the vids!

[@robertofarias7423]

@@proyectonuevo7487 I don't earn income in Ecuador. I am referencing as a retiree Expat living in Ecuador.

[@tomsaxton970]

You only pay tax in ecuador on money earned in ecuador. Your US money is only taxed in the US. Recommend you get residency in a state that doesn't have income tax before coming to Ecuador. I did this and saves me $2k per year.

[@DonShader]

You only have to pay EC income tax on money earned here and you need to earn more than $10k before you have to pay any income tax (here in EC)

[@robertofarias7423]

@@tomsaxton970 can you elaborate on residency in a state that doesn't have income tax? Are you referring to a state in Ecuador? All states in the U.S. have income tax.

[@robertofarias7423]

@@DonShader Awesome that makes me feel better about potential residency in Ecuador.

[@stevev707]

If you were living in the US with the same lifestyle, then your living cost would be 4 or 5 times more than you are currently living. Not sure what is your gripe, I can say this because I have been to Ecuador.

[@DonShader]

Who the hell is gripping?

[@Switzerleando]

Living in Latinamerica in general is expensive but services are not so good.

[@DonShader]

Did you mean inexpensive?

[@Switzerleando]

@@DonShader I meant expensive. For example, Venezuela is super expensive and yet services are pretty bad. Also politically speaking the majority of Latinamerica is unstable, that's why I moved to Switzerland. You never know when the next Chavez might arise.

[@DonShader]

@@Switzerleando OK, thank you.

[@DonShader]

Okay well it may be super expensive, but at least services are pretty bad. Makes sense to me.

[@Switzerleando]

@@DonShader that’s not what I said, exactly. When you pay for a service or product you usually expect it to be good, to have quality either in the physical product or customer service experience, especially if is on the dear side. Nevertheless, in South America you have to be mentally prepared to pay a lot of money for things and services that are simply not good.

[@danrobrish3664]

Thanks for this. Just wondering: Why did you choose Manta over Cuenca if it's so much cheaper in Cuenca? You seem to like Cuenca.

[@DonShader]

I loved Cuenca but the altitude is a problem for me. I started in Manta because that's where I chose to get my dental work done.

[@goldgeologist5320]

I will pitch in here. Cuenca is moderate altitude but high for most U.S.A. and European citizens. Also rains and is colder. Buildings are cold as concrete construction and you just cannot afford to heat. Manta is a more commercial city with oil, fishing and import industry. So the good Ecuadorian jobs exist and they they have money. So it costs more. But the good thing is high level good and services.

[@markwysierski8903]

Moderate altitude? Compared to what? Mountain peaks? Of all the cities in the ENTIRE world Cuenca and Quito are near the top of the list. And by the way it's elevation not altitude