PR Bankruptcy: to move or not to move..

Long term prospects for gringos with (enough) money are very good in my opinion. Puerto is part of the USA so there will not be a cataclysmic implosion. Prospects for gringos starting small businesses are bad and  personally I wouldn't do it unless the business was online and not brick and mortar

The biggest problem, in my opinion, is medical treatment, and this is a problem that existed before the current economic problems. Please search the blog for info on this as it has been discussed extensively. In regards to medical it is a good idea to get one's ducks in row in case of a serious or cataclysmic problem. This involves determining which hospitals are the best, how to get to them, and which physicians are excellent, and maintaining an emergency fund of money in case getting to an off island facility is necessary (and which one you want).

For me, I wouldn't want to live anywhere on the island except the northwest because it's layed back culture, cheap housing, (surfing) beaches. I live in Rincon and it has a great atmosphere and gringo community. I am not the gated community type. Hope this helps, go for it!

Victor:  Thank you!  In fact I have been focusing quite a bit on Rincon.  Finding housing seems a bit difficult but do-able.  Re medical:  yes, I've read several articles this morning indicating an eminent healthcare crisis is raising its ugly head.  This is regrettable as the cost of healthcare in the US is one of the largest motivating factors for expatriation among aging Americans.  It's never been something that guided my own decisions but then I've always enjoyed good health.  Which can't last forever! 

The skill I refer to is pet grooming which Ive been doing for almost ten years and am very good at.  A small room in a house is all I'd need to work.  That said I AM concerned re taking employment away from locals and am struggling with possible ethical conflicts about this.  Still the bottom line is that like so many Americans these days, retiring in the US is rapidly becoming a non-option if one expects to live beyond 70 years of age!

Your encouraging reply is very welcome however as I'm much more inclined to try to make my decision re moving to PR based on positive feedback over negative.  Just trying to move forward with real facts and not wishful thinking.

In answer to your concerns I just retired on a modest pension from New York here to Puert Rico and I think you should go with your instincts if you love PR !  I'm on the Northeast side of the island and love it! The economic situation is what is around the world, the sales tax has increased here but overall with other savings I've encountered it all balances out. Live a simple peaceful happy life on this beautiful island and God bless you!!!

And god bless you Mr. Hulk!  What a simple, elegant reply.  Thank you..

You'll be fine so long as your income comes form outside PR. If you want to be really careful, don't run money through a PR bank account (although this precaution isn't really necessary - it would be in Greece but not in an FDIC-insured PR bank).

we moved here a year ago.   we are moving to rincon next month its the best place in puerto rico.    i agree about the healthcare  its horrible.     i had to drive from our currently place in arecibo to san juan because my husband is 100% disbale veteran and as his spouse i have champva   which any place that accepts medicare or medicaid by law suppose to accept the insurance. well in pr they do whatever they want.  so have dyas on the phone with the va etc  i finally got a person to tell me 1 hospital in san juan will see me. so i took the 2 hr drive there    i waited in the lobby of the hospital for a total of 13 hrs. when i was done there they couldnt even give me my test results and told me i would have to come back and go to records dept to pick them up.    ok so 2 hrs there 13hrs in the hospital waiting area and 2 hrs back. do they really think iam going to drive back.  they coudnt even send my record to a local primary doctor here. oh and by the way you have to pay to park your car in the hospitals parking lots.  i never heard of such a crazy thing.   so i am hoping to get better treatment out of pocket when we move to rincon. please feel free to contact me.    we know lots of people in rincon and can help you find a place, so you the ropes, meet people etc.  and not get stuck paying gringo prices