You’ve hit retirement age and, if we’re honest, the numbers aren’t pretty. Little in savings. A mortgage still hanging around. Maybe $70,000 in equity if you sold the house tomorrow. In the U.S., that picture feels suffocating. In Colombia, it can be the start of a very livable, low-stress, middle-class retirement.
Here’s how to turn a tight U.S. retirement into a calm Colombian life: what to do with the equity, how far Social Security really goes here, where to live, what healthcare costs, and the visa that makes it all legal.
Grab a coffee (make it a tinto) and let’s build your plan.
Part 1: Your Starting Point (and Why It Works Here)
Your numbers (example):
Home sale clears ~$70,000 in equity
Average Social Security check ~$1,800/month
Minimal or no retirement savings
Why this can work in Colombia:
Rents are sane, utilities low, food affordable
Private healthcare is excellent and priced like it’s still 1999
The retirement visa is built for people exactly in your situation
In the U.S., $1,800 often won’t cover rent. In Colombia, $1,800 covers rent, utilities, groceries, healthcare—and leaves room for life. Add a small monthly top-up from that $70k, and you’re comfortably in the $2,000–$2,200/mo range. That’s middle-class living in Medellín, Bogotá, or coastal cities.
Part 2: What to Do With the $70k (Income First, Not “Growth” First)
Your goal isn’t to “beat the market.” It’s reliable cash flow without eating principal.
Common, conservative options (illustrations, not advice):
Lifetime income annuity
Simple: trade a lump sum for a guaranteed monthly check.
Expectation (varies by age/market): roughly $400–$500/mo on $70k for a single-life payout.
Pro: stability you can budget around; con: illiquid.
Dividend ETFs (e.g., SCHD, VYM)
Typical yields ~3–4% → $175–$235/mo on $70k.
Pro: flexible, liquid; con: payouts fluctuate.
Short-term Treasuries/CDs
Yields ~4–5% (change with rates) → $230–$290/mo.
Pro: safer, predictable; con: lower long-term growth.
Small rental unit in Colombia/Mexico (~$70k purchase)
Net $300–$400/mo if well chosen and managed.
Pro: tangible asset; con: management and vacancy risk.
Bottom line: pick one reliable stream or blend a couple. You’re aiming for $200–$450/month on top of Social Security—that’s what flips your lifestyle.
Part 3: What Life Actually Costs (Realistic, Not Instagram)
Housing (long-term, unfurnished or partially furnished):
Simple 1-BR in safe area: $250–$450
Nice modern 1-BR in prime zone: $400–$600
2-BR in a doorman/gym building: $700–$900
(My own benchmark: a penthouse 3-BR in one of Bogotá’s best areas is $850.)
Monthly essentials (solo):
Utilities + high-speed internet: $80–$120
Groceries (local products): $200–$300
Eating out:
Menu del día lunch $3–$5
Mid-range dinner $8–$12
Transport:
Buses/metro < $1/ride, Uber/taxis affordable
Domestic flights often $30–$60
Healthcare:
Private insurance: $60–$100/mo
Specialist visit (cash): $40–$60
MRI (cash): $300–$400
Surgeries: 60–80% less than U.S. prices
With $1,500–$1,700/mo you’re comfortable. With $2,000–$2,200/mo (SS + small top-up), you’re eating out, traveling domestically, and breathing easy.
Part 4: Sample Budgets (Solo, Modern 1-BR in Good Area)
Lean & Comfortable — ~$1,620/mo
Rent (1-BR, good area): $500
Utilities + Internet: $100
Groceries: $240
Eating out (8–10x/mo): $120
Transport (Uber/Metro): $60
Private insurance: $80
Medical cash visits/meds: $60
Cell phone plan: $20
Misc./clothes/home: $120
Fun/travel buffer: $120
Total: $1,420
Add emergencies buffer: $200 → $1,620
Middle-Class Sweet Spot — ~$2,120/mo
Rent (nicer 1-BR or modest 2-BR): $650
Utilities + Internet: $110
Groceries (more imported items): $300
Eating out (2–3x/week): $220
Transport: $80
Private insurance: $90
Medical cash visits/meds: $80
Cell phone: $20
Gym + hobbies: $70
Travel/experiences: $250
Misc./home goods: $150
Total: $2,020
Add cushion: $100 → $2,120
How you fund it:
Social Security $1,800 + income stream $200–$450 = $2,000–$2,250. Done.
Part 5: Where to Live (Starter Shortlist)
Medellín — Spring weather year-round, efficient metro, strong expat scene.
Zones: Laureles (walkable, cafes), El Poblado (green, upscale, hilly).Bogotá — Big-city culture, museums, restaurants; cooler climate.
Zones: Chico, Cedritos, Santa Bárbara, Usaquén.The Coast (Cartagena, Santa Marta, Barranquilla) — Warm, humid, beach energy; higher tourist pricing in Cartagena’s core, better value in residential areas.
Mid-size gems — Bucaramanga, Pereira/Armenia (Coffee Region), Manizales—milder costs, slower pace.
Part 6: Healthcare (Why Retirees Love It)
Colombia routinely ranks high for quality and access (private hospitals in Medellín & Bogotá are internationally accredited). You can mix a low-cost private policy with cash visits for specialists. Appointments are quick, prices transparent, facilities modern.
Typical experiences:
Book a cardiology consult next week for $50.
Get an MRI in days for $350.
Dental, vision, and routine meds are a fraction of U.S. costs.
Peace of mind matters. Here, you can actually use your healthcare.
Part 7: The Visa That Makes It Real (M-11 Retirement Visa)
You likely qualify right now.
Requirement: Stable monthly pension income ≥ 3× Colombian minimum wage (≈ $1,100/mo as a working guide).
Your U.S. Social Security counts.
Validity: 1–3 years, renewable.
Pathway: After 5 years on M-class visas, you can apply for permanent residency (and later, citizenship if you want it).
Documents you’ll prep:
Social Security award/benefit letter
FBI background check
Apostilled birth certificate
Passport + photos
(All recent, translated/apostilled where required.)
It’s paperwork, not a puzzle. Thousands of retirees do it every year.
Part 8: A 90-Day Move Plan (Simple, Doable)
Days 1–30 — Decide & prep
Price out your U.S. sale and estimate net equity
Choose your income stream (annuity/CDs/dividends)
Shortlist 2–3 Colombian cities & neighborhoods
Days 31–60 — Documents & discovery
Order background check, gather/apostille docs
Book a 2–3 week scouting trip—visit neighborhoods at day and night, tour rentals, test transport, visit clinics
Days 61–90 — Secure & settle
List house for sale / close
Open necessary accounts, set up international ATM/credit access
Apply for the M-11 visa, plan your arrival month
Book a 1–3 month furnished rental to start; shop long-term once on the ground
Part 9: Common Mistakes (Skip These)
Chasing “growth” with the $70k instead of creating income you can budget.
Moving all-in without a scouting trip.
Under-insuring—private plans are cheap; get one.
Over-importing—local goods are great; the imported stuff is what’s pricey.
Confusing tourist permit rules with visas—tourism caps at 180 days/year. If you’re retiring, go straight for the M-11.
Part 10: Lifestyle, Safety & Belonging
Colombians are warm. Social circles form around building gyms, Sunday lunches, language exchanges, walking groups, church communities, and hobbies. Learn a little Spanish and you’ll multiply your friendships (and your negotiating power).
Safety? Same rules you use in any major city: pick solid neighborhoods, don’t flash valuables, use rideshare at night. I walk around a lot—comfortably—and I’ve chosen areas that feel like home.
The Bottom Line
If you feel like you “messed up” retirement, Colombia gives you a second shot: real healthcare, dignified housing, daily stability, and breathing room on $1,800–$2,200/mo. Sell the house, make the equity produce income, pair it with Social Security, and step into a slower, friendlier, affordable life.
You don’t have to be rich to retire well—you just have to pick the right map.