Retiring in Nicaragua

Why retiring in Nicaragua is growing in popularity

After forty some odd years in the workforce, there is nothing people look forward to

more than enjoying a long and happy retirement.

Many people start making retirement plans as soon as they enter the workforce. Luckily, many of these people enjoy the stress-free retirement they have planned for.

Unfortunately, not everyone is that lucky. Some people are faced with troubles and illnesses throughout the years that toss all of their retirement dreams right out the window.

It doesn't have to be this way. Retiring in Nicaragua will allow you to live the carefree lifestyle you have always dreamed of – without any money problems.

Retirees love the benefits of Nicaragua living. Image used under a Creative Commons license with the kind permission of happykatie and Flickr
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Retirees love the benefits of Nicaragua living. Image used under a Creative Commons license with the kind permission of happykatie and Flickr

Don't Give Up Your Dreams

Far too many people are forced to work after the age of sixty-five, because they can not afford not to. For many people, not working means not eating because their pension checks just won't stretch far enough.

This is one of the main reasons why Nicaragua is rapidly becoming the most popular retirement destination in the world.

Americans, Canadians, and Europeans are flocking to this tropical paradise country more and more each year. Not only will every Dollar go ten times farther, but you get live in paradise. Who wouldn't love that?

And because of all of the money you save on everyday expenses, you can afford to visit your children and other relatives as often as you like. Or you can pay for them to come and visit you.

It is not like Nicaragua is on the other side of the world – it is just a short plane ride away.

Aside from living in paradise and enjoying a low cost of living, retiring in Nicaragua means you can also enjoy the country's comprehensive retiree benefit program.

The Nicaragua Retiree Benefit Program

In an attempt to attract more retirees, Nicaragua implemented a "foreign retiree program", similar to the one Costa Rica used in the 1980s. If you are over the age of 45 and have a monthly income of at least $600, you're eligible.

You will enjoy significant tax incentives and investment opportunities that might otherwise not be available.

The majority of benefits are in the form of tax incentives, such as:

  • No taxes on any money earned outside of Nicaragua
  • Up to $20,000 of household goods can be brought into the country duty-free
  • Purchasing or importing one automobile worth up to $25,000 free of duty and tariffs
  • Sell this vehicle after five years, tax-free
  • Import another vehicle every five years with the same duty exemptions

Work-related pensions from most countries will allow you to live and collect your pension from anywhere in the world.

For example, if you have worked in Germany, and decide to retire in Nicaragua, your pension will be sent to you in Nicaragua.

Government, non-work related pensions usually have some stipulations, like you have to live in your home country for a certain number of months per year.

Pensions from jobs you have held usually only have one stipulation – once a year you have to prove that you are still alive. In some cases, your spouse is able to collect a reduced amount of your pension until her death.

As you can see, having an income of more than $600 per month is very doable. However, retiring at 45 is not quite as easy.

Most countries will not allow you to apply for your pension until you are 62 years old. The pension you receive at 62 will be quite a bit less than it would be if you waited until 65, but with the cost of living the way it is in Nicaragua, you will still be living high on the hog.

This video may help to persuade you.

Popular Retiree Locations in Nicaragua

The hottest retiree locations in Nicaragua are in the capital city of Managua, the colonial cities of Granada and Leon, and the San Juan del Sur region on the southwest Nicaraguan coast of the Pacific Ocean.

But, don't worry, there are still plenty of fabulous beachfront locations available.

Prices are on the rise, though, so if you dream of retiring in Nicaragua, you better hurry before this paradise country becomes unaffordable like all of the others.

If you prefer a mountain life, there are places in the Central Platform of Nicaragua, where life is slower-paced, the climate is nicer and more tranquil, houses and food are cheaper, and in most cases you don’t even need a vehicle to move around the city.

Two of the most interesting places if you prefer the mountain styly life and I recommend you to visit are Esteli and Matagalpa.

Most of these places are only a couple of hours from Managua and other principal cities and beaches. Highways are pretty good all around the country.

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