Reasons people choose Costa Rica for
Retirement
One of the most obvious reasons is the
climate.
Folks are tired of freezing winters, scorching summers and the high
utility bills that go with them. In Costa Rica they can enjoy one of
the best year-round climates in the world (72 degrees average in the
Central Valley.) There are only two seasons here, dry and rainy,
both with an abundance of sunshine. We rarely need air conditioning
and never need heat. Costa Rica has more winter sunshine than Hawaii
or Florida and fewer people.
Lifestyle is
a big one. Costa Rica fits the bill for anyone sick of the hustle
and bustle, seeking a more laid-back way of life. One of the tour
participants remarked, "Costa Rica reminds me of the U.S. about 40
years ago when everything was unspoiled, unhurried and less
crowded." It will also appeal to people of all ages seeking to move
to a new and exotic land outside the States and Canada, as well as
the energetic entrepreneur, the burned-out baby boomer, those sick
of long rush-hour commutes and anyone seeking an alternative way of
life.
Costa Rica has been
tagged “the Switzerland of the Americas” by many due to its
neutral political status and spectacular mountains. From the huge,
curling waves of the Pacific coast, to the sight of molten rock
tumbling down the sides of a volcano, Costa Rica’s natural beauty
has something for everyone. This unique little country offers a real
paradise for the nature lover, fishing enthusiast and water sports
fanatic as well as the retiree.
Is the Country Affordable?
Although much has
been written about the high cost of living here, what you spend
depends on your lifestyle. If you must have a luxurious home, drive
a late model car and buy imported goods, you will spend as much or
more than you would in North America. But if you live more like the
locals and watch your spending, you will spend considerably less.
Many Americans
living below the poverty line in the United States can live in
moderate luxury on a modest retirement or investment income in Costa
Rica.
The cost of food,
utilities and entertainment are all substantially lower than in the
United States.
In most areas
housing costs are less than what you would be accustomed to paying
in the United States. I just purchased a new three-bedroom home in
San Francisco de Heredia, about five miles from downtown San José,
for $85,000. It has a cathedral ceiling, sits on a 270-square- meter
lot and is very comfortable for three people and a dog. I have a
15-year mortgage and pay $600 monthly including insurance, with a
nine percent loan from a Costa Rican state bank.
Besides our home, I
have two cars and a full-time maid. Household help makes life
easier. (You can hire a full-time maid for as little as $200 per
month or $1 per hour.) My son goes to one of the best private
schools in the country. I eat out a few times a week and enjoy
various types of entertainment. We spend a week at the beach during
Easter and go to the United States every Christmas. Our monthly
expenses are about $2,500.
Costa Rica’s
affordable medical care is among the best anywhere. The quality of
health care is comparable to North America but the prices are one
half or less. Considered by many to be the healthiest country south
of Canada, Costa Rica has a longer life-expectancy than the United
States (76.3 for men, 79.8 for women), rumored to be the third
longest in the world.
Costa Rica’s
inexpensive medical care, affordable housing, excellent
transportation and communication networks, and abundance of
activities with which to stay busy and happy, all contribute to the
country’s appeal and place it at the top of the list of retirement
and expatriate havens.
How is Costa Rica Different from
the Other Countries in the Region?
Nicaragua, Belize,
Honduras and Guatemala have lower living costs, but you get what you
pay for. The quality of life and lack of infrastructure in those
countries leave a lot to be desired. Safety is a concern, especially
where paramilitary police have power or where police are corrupt, as
in Mexico. Costa Rica is politically stable and is unique in having
no army. Although theft occurs, violent crime is minimal.
One expatriate said
about Costa Rica. “Costa Rica has one of the most pacifist cultures
in the world. Think of it: it has been almost 60 years since Costa
Rica outlawed the army. This is the reason that I always return to
Costa Rica its lack of an army. When I first arrived here in 1978,
they used to boast that they had more teachers than policemen. I
don't know if that is still true but they still put more emphasis on
education and health than any other Central American country, not to
mention the States and many European countries.
So to the person
who is wondering about retiring to Costa Rica because it is more
expensive than Panama or Belize, I would say research more than just
economics because other things in my mind are more important.”
Good Investment Opportunities -
Costa Rica has one of the five best real estate markets in the
world!
Costa Rica has a
myriad of business opportunities awaiting creative, hard-working
individuals. You can run a global business from here by using
Internet access, fax machines and cell phones. It is also relatively
easy to start a small business on a shoestring. Tax incentives and a
government that encourages investments and affords investors the
same rights as citizens contribute to a propitious business climate.
Many countries either do not permit non-citizens to own property or
place restrictions on foreign-owned real estate, but this is not the
case in Costa Rica. Anyone may buy real estate with all the legal
rights of citizens. Actually, an investment in Costa Rica today is
much better than an investment in California real estate was 30
years ago.
What gets people
excited about Costa Rica is that it offers some of the best real
estate on the planet at affordable prices. The price will eventually
go up as the rest of the world catches on. There’s only so much
beautiful beachfront and prime real estate left in the world. When
you consider that almost every bit of coastline in the United States
is becoming overcrowded and overpriced, Costa Rica seems like a
bargain.
A burgeoning global
economy and the Internet communications revolution have created
unlimited possibilities for doing business in Central and South
America. Furthermore, trade pacts between Costa Rica, the United
States, Mexico and South America will soon become a reality. These
free-trade treaties promise to link all of the nations in the
hemisphere in to one trading block.
Costa Rica’s
current prosperity is being fueled by the immigration of affluent
baby boomers from around the world seeking their own piece of
paradise and the same engine that has fueled the growth in
California for the last 30 years, technology. When Intel decided it
needed more capacity, they looked all over the western hemisphere
and chose Costa Rica for the very same reasons you will.
Word is getting out
about Costa Rica. And that’s why now is such a good time to invest.
Why People Move Abroad?
Most citizens of
the United States and Canada feel comfortable living where they have
always resided. Some are lucky enough to have invested in property
and have good retirement programs, affordable health insurance,
stocks, bonds or IRAs to ensure a good quality of life during their
retirement years.
Others may not have
been as fortunate. They realize that they may have not planned well
and may be a little short on money to maintain their present
lifestyle. A simple solution is to try to lower their standard of
living and be more frugal in their own country to compensate for
poor financial planning and/or bad investments. They can downsize to
a smaller home, move to a more affordable but less suitable area,
give up their yearly vacations, fire the gardener and cut back on
other areas of their life to just scrape by. But what if they could
move to another country with the same amount of income and improve
their lifestyle dramatically instead of reducing it?
Living in the right
country outside the United States. can make all the difference in
the world between just subsisting and maintaining the lifestyle to
which you are accustomed. Costa Rica may offer a viable alternative.
The idea of living
overseas is not new. The huge number of Americans due to retire is
staggering. Currently almost 40 percent of the population of the
United States is over 50. By 2020, half the U.S. population will be
over 50. Most Americans ages 41 to 59 say they will move when they
retire.
You Can Change Your Life Here
Some move here to
start over and seek adventure in an exotic land. They are tired of
dead-end jobs or the rat race and want new challenges, a chance to
pursue their dreams and achieve greater personal growth. As a
foreigner, you have the challenge of immersing yourself in a new
culture and, if you choose, the rewards of learning a foreign
language.
Newcomers can make
friends easily because foreigners gravitate towards one another. One
transplant from Florida told us he had lived in Florida for 20 years
and hardly ever had contact with his neighbors. He claims not to be
the most sociable person in the world, nevertheless he has made more
than a hundred friends in Costa Rica. He proudly says, “Everywhere I
go I bump into people I know.”
You Won’t Be Bored Here
Adjustment to a new
way of life can take many months. However, an open mind, a positive
attitude and a willingness to seek out new experiences can make the
transition relatively painless.
Costa Rica has come
a long way in the last decade. Satellite and Direct TV, private mail
service and the Internet make it easier to stay in touch with family
and friends in the United States and keep up with what is going on
all over the world. If you don't own a computer, you can go to an
Internet café.
Costa Rica’s
modern technology has made life easy for foreign residents. In most
areas of the country you can get cash at a local ATM, manage your
investments online and read almost any major newspaper in the world
the day it comes out.
A friend of ours,
a 20-year resident of Costa Rica, said, " My days are so filled with
exciting activities and interesting experiences that each day seems
like a whole lifetime. I really feel that I have discovered the
fountain of youth."
Single men are
attracted to the country because it has the reputation of having the
most beautiful, flirtatious and accessible women in Latin America.
It comes as no surprise that Costa Rican women are highly sought as
companions by foreign men of all ages. Single men will have no
problem finding love, romance and a second chance in life with a
devoted Costa Rican woman.
You will never be
bored here unless you choose to be. Costa Rica has something for
everyone. In The Tico Times, the weekly English-language newspaper,
you can find hundreds of interesting activities: movies in English,
support groups, computer and bridge clubs — you name it, Costa Rica
has it.
Living in Costa
Rica can open the door to a new and exciting life. Who knows? You
may never want to return home.
Reasons the Author Moved to Costa
Rica
About 32 years ago
I spent a year as an exchange student in Puebla, Mexico. It proved
to be the best experience I ever had and the turning point of my
life. I truly became enamored with the Latin culture and decided I
really wanted to live in a Spanish-speaking country.
I was barely 20
years old and still had to finish my last year of undergraduate work
at UCLA. Nevertheless, I did not give up on my dream. After
graduating, I obtained a teaching credential so I would have three
months of vacation each year to explore Mexico and the rest of Latin
America.
My journey began
with Guatemala. Every country I visited in Central and South America
had something to offer. But as a whole Costa Rica was by far the
leader of the pack. Brazil had Rio and its vibrant culture.
Argentina had cosmopolitan Buenos Aires, Mendoza, the Pampas,
Patagonia and Bariloche. Chile had its Switzerland-like lake region
in the south and Santiago in the center of the country set against
the backdrop of the Andes. Peru had Lake Titicaca, pre-colonial
Cuzco and Machu Picchu with its rich Incan culture. Ecuador had the
Galapagos Islands and colonial Quito. But none of these countries,
including beautiful Mexico to the north, came close to Costa Rica as
a whole. So, after extensive research and travel I decided the
country where I really wanted to live was Costa Rica.
I began to return
to Costa Rica every chance I had. My first trip was for two weeks.
My next visit was for a month. Each time I found a way to protract
my stay. I was living in the San Francisco Bay Area but found myself
spending most of my time thinking about Costa Rica. I really felt
more at home there than in the United States. Consequently, I
decided to follow my heart and move to Costa Rica to pursue my
dream. I did not want to wait until I was 65 years old and retired
to make the move.
All of my friends
and relatives said I was crazy to give up a secure teaching position
and move abroad. They just couldn’t understand why I would leave the
comforts of the good old U.S.A to move to a third world country.
Some even asked me if there was a revolution going on in Costa Rica.
Obviously they were confusing Costa Rica with Nicaragua and El
Salvador of the 1980s.
Needless to say, I
made my move twenty-five years ago and have never looked back. I
love the country, the culture and the people. My adopted country has
been very good to me and I have found success and happiness here.
On Foreigner’s View of
This Special Country
Michael Pierpont,
the founder of Sunburst Coffee, fell in love with Costa Rica a few
years ago and knew right away that this was where he wanted to live.
You, too, may find that you want to spend more than just a few weeks
every year in this delightful country.
“People ask me all
the time why I chose Costa Rica,” says Michael. “I like this country
for several reasons. First, it is a spectacularly beautiful place.
Along the Pacific coast you will find rocky outcrops and pounding
surf. The beaches look just like those in California, which is where
I am from. But you can buy here for one-tenth the cost of
California. Inland you’ll find a lush jungle Lake Arenal, the Irazú
Volcano and coffee plantations and the most beautiful rain forests
in the world. In the northwest you will find white-sand beaches,
many declared turtle reserves, one of the numerous areas in this
country set aside for wildlife research and preservation.
“Second, and
important to me, is the cost of living. I can live well in this
country on as little as $1,500 per month. You can rent a comfortable
house in San José, where I chose to settle, for $500 per month. You
can employ a full-time maid for $185 monthly. You will spend $300
per month on groceries, $65 per month on electricity. You can see a
movie for $3 and have a nice dinner with drinks for $15.
“ Third, I was
smitten by the people. Costa Ricans are good-natured and kind,
trusting and friendly and extremely beautiful. I knew I’d be happy
living and making friends here.”
“A few more notes
on why I came to Costa Rica: the weather is great, the Spanish
colonial history and architecture is delightful, the small
expatriate community is welcoming and an extremely interesting
bunch. Everyone’s got a story. And best of all the taxes are low and
easy to deal with.”
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