My tenant - biker through and through - figured he could live for about $12,000 a year on the beach - Mexico Pacific side. That too seems to be allowing for a pretty nice place though.
Had a buddy who is an engineer (civil) chucked it all and sailed down to the Caribbean - hopped from island to island for two years before settling down in Virgin Gorda with a local beauty.
His deal was perfect - each day he landed somewhere he went to the local bar or marina bar and met people - he said it took less than a week before he had work. Engineering good paying work - His profession was needed everywhere he went, as they were in short supply - his destinations were resort and/or growth oriented (lots of development going on) and everyone said.... "You an engineer - damn we need an engineer" he would work for cash and stay for about a month - then cruise on.
Sounded pretty darn good to me.
I also have some family friends - older - who have settled in Panama - supposed to be pretty safe and very very affordable - on the Pacific side.
If I didn't have my son I would have been gone long ago.
Do it and tell us all how you did... I might buy the hut beside you in a few years.