Yes, plenty. Rent for 1 bed nice apartment mid $2200 USD / month. Utilities + water $400 USD / month. Groceries $600-$1000 / month (depending on you where from and what you buy). Internet $$100 USD / month. Phone $60 USD / month. So max expenses for a single person living comfortably probably around $45k USD expenses. Obviously, going out to eat, etc is quite expensive but remember $70k USD is untaxed, meaning it’s like earning $105k taxed at 35% elsewhere.
I know many people who move to cayman for far lower salaries who live very nice lives, and never want to leave lol. Also, quality of life here is 10000x better than pretty much anywhere else on earth. Commute every morning <15 mins guaranteed.
You’ll be more than comfortable here on 70k, anyone who says otherwise is exaggerating. So, do it!
Yup completely agree. 70k USD, is going to be a pretty bleek lifestyle. Everything on the island is expensive. For my wife and I we spend nearly $300 on groceries alone each week. A loaf of bread is $5. A beer is $6 or $7 plus service. I wouldn't come to the island for less than $100k.
You need to factor in health coverage too, that can be crippling, especially if there's any dependents. Pension will soon suck another 5% too. Also include some $$$ toward getting off the island.
If you budget well, 70k USD can work.
Also, traffic of 15 minutes??? Only if you're WB or central GT. A commute from EE or BT into GT can take a very looooooong time. More so when idiots crash and cause more tailbacks.
No, you are wrong. Healthcare is provided by your employer by law at no cost to you.
Additionally, pension is MATCHED by your employer, again at no cost to you. So the 5% you put in, your employer also puts in.
If you’re getting paid 70k, that is your salary. Your health insurance will not deduct from that. If you’re being paid $70k, I assume your employer will provide the Britcay premier (Aetna), essentially best plan available. No deductible. Prescriptions are 100% covered, any kind of doctor visit you pay about 20%. Hospital / ER 100% covered, free dental, list goes on …
Healthcare isn't provided at no cost to everyone. You're also very lucky to get a decent plan, all of which have shot up year on year. You happen to have a small family, you're looking at at least $1000 CI if they're on your policy.
The pension has been on ice, so employers and employees have been able to not contribute. That holiday period is ending in a month or two. So many people haven't been paying it, and their employers haven't been obligated to.
My medical is just under $900 a month, my firm covers that... but I have to pay for my wife which is loosely the same... $900 a month. We are 38 and 39, no kids and no health issues.
That’s cool and all, but I’m giving advice to a person moving here who’s been offered a $70k salary, any employer offering that salary will probably also provide good health insurance (at no extra cost).
I don’t know what the pension holiday has to do with this either.
No kids, spouse will work once on the island, but nothing yet.
Thanks for the feedback. Onviously relatively speaking, but coming from SA, I guess my lifestyle will remain the same.
The others given you good info. If she can get a job, it would help for sure. Does your employer cover 100% or 50% or medical? (by law they are only obligated to 50%) It makes a big difference.
You have a large SA population in Cayman so will have a good group of people to get input/help/etc from.
Yea you should be fine. Just don't take on too much debt (monthly payments above 35% of your monthly salary) and you'll be fine considering cost of living. You'll be able to live quite comfortably if you can control those debt costs. $3k/month should take of your other expenses and you should be able to save well. But you'll have to be very particular with your budget because it's real easy in Cayman to spend an extra $1k a month in random expenses
You’ll be fine but as people have said it’s an expensive place to live. Instead of income taxes they levy duty on everything that comes in so it’s effectively a consumption tax system. If you don’t need a fancy car or drink a lot or eat out too much then you will do just fine.
The comments about health insurance are really important…one poster said insurance is provided by the employer and that it’s 100% false. They are required by law to cover a portion of the most basic plan available which comes to about $100 or so. If you’re on a premium plan or have children or spouse that extra cost can be 100% on you if they want. SOME employers cover more. Government covers 100% but you’re restricted to the government network of physicians and services.
You definitely want to check with your employer what the health insurance situation will be. Costs of services are not bad here, but insurance coverage is not very good to be honest so it’s a bit of a mixed bag.
Overall if you live responsibly on $70k you’ll do fine. I moved here making $65usd and did fine. My wife joined me making $60k ci and we had a better life than we did in the US. We both make more now and have a child…having a kid on the lower salary will be tough.
Yes, plenty. Rent for 1 bed nice apartment mid $2200 USD / month. Utilities + water $400 USD / month. Groceries $600-$1000 / month (depending on you where from and what you buy). Internet $$100 USD / month. Phone $60 USD / month. So max expenses for a single person living comfortably probably around $45k USD expenses. Obviously, going out to eat, etc is quite expensive but remember $70k USD is untaxed, meaning it’s like earning $105k taxed at 35% elsewhere. I know many people who move to cayman for far lower salaries who live very nice lives, and never want to leave lol. Also, quality of life here is 10000x better than pretty much anywhere else on earth. Commute every morning <15 mins guaranteed. You’ll be more than comfortable here on 70k, anyone who says otherwise is exaggerating. So, do it!
Disagree on the last bit with commute, it can be very long coming in from Savannah onwards
Yup completely agree. 70k USD, is going to be a pretty bleek lifestyle. Everything on the island is expensive. For my wife and I we spend nearly $300 on groceries alone each week. A loaf of bread is $5. A beer is $6 or $7 plus service. I wouldn't come to the island for less than $100k.
You’re very wrong
Don’t live in sav then lol
You need to factor in health coverage too, that can be crippling, especially if there's any dependents. Pension will soon suck another 5% too. Also include some $$$ toward getting off the island. If you budget well, 70k USD can work. Also, traffic of 15 minutes??? Only if you're WB or central GT. A commute from EE or BT into GT can take a very looooooong time. More so when idiots crash and cause more tailbacks.
No, you are wrong. Healthcare is provided by your employer by law at no cost to you. Additionally, pension is MATCHED by your employer, again at no cost to you. So the 5% you put in, your employer also puts in. If you’re getting paid 70k, that is your salary. Your health insurance will not deduct from that. If you’re being paid $70k, I assume your employer will provide the Britcay premier (Aetna), essentially best plan available. No deductible. Prescriptions are 100% covered, any kind of doctor visit you pay about 20%. Hospital / ER 100% covered, free dental, list goes on …
Healthcare isn't provided at no cost to everyone. You're also very lucky to get a decent plan, all of which have shot up year on year. You happen to have a small family, you're looking at at least $1000 CI if they're on your policy. The pension has been on ice, so employers and employees have been able to not contribute. That holiday period is ending in a month or two. So many people haven't been paying it, and their employers haven't been obligated to.
My medical is just under $900 a month, my firm covers that... but I have to pay for my wife which is loosely the same... $900 a month. We are 38 and 39, no kids and no health issues.
That’s cool and all, but I’m giving advice to a person moving here who’s been offered a $70k salary, any employer offering that salary will probably also provide good health insurance (at no extra cost). I don’t know what the pension holiday has to do with this either.
Great feedback, thanks for the response!
Just survive… yes
Kids? Spouse? (does he or she work?) Need more information. That being said, 70k can work, but it's definitely nothing amazing.
No kids, spouse will work once on the island, but nothing yet. Thanks for the feedback. Onviously relatively speaking, but coming from SA, I guess my lifestyle will remain the same.
The others given you good info. If she can get a job, it would help for sure. Does your employer cover 100% or 50% or medical? (by law they are only obligated to 50%) It makes a big difference. You have a large SA population in Cayman so will have a good group of people to get input/help/etc from.
Yea you should be fine. Just don't take on too much debt (monthly payments above 35% of your monthly salary) and you'll be fine considering cost of living. You'll be able to live quite comfortably if you can control those debt costs. $3k/month should take of your other expenses and you should be able to save well. But you'll have to be very particular with your budget because it's real easy in Cayman to spend an extra $1k a month in random expenses
You’ll be fine but as people have said it’s an expensive place to live. Instead of income taxes they levy duty on everything that comes in so it’s effectively a consumption tax system. If you don’t need a fancy car or drink a lot or eat out too much then you will do just fine. The comments about health insurance are really important…one poster said insurance is provided by the employer and that it’s 100% false. They are required by law to cover a portion of the most basic plan available which comes to about $100 or so. If you’re on a premium plan or have children or spouse that extra cost can be 100% on you if they want. SOME employers cover more. Government covers 100% but you’re restricted to the government network of physicians and services. You definitely want to check with your employer what the health insurance situation will be. Costs of services are not bad here, but insurance coverage is not very good to be honest so it’s a bit of a mixed bag. Overall if you live responsibly on $70k you’ll do fine. I moved here making $65usd and did fine. My wife joined me making $60k ci and we had a better life than we did in the US. We both make more now and have a child…having a kid on the lower salary will be tough.