Retiring to another country with a lower cost of living. Moving to Costa Rica Free Online Resources Financial Fast Lane www.financialfastlane.com/ Contact Us martinsenwealth.com/
Greetings from the Philippines 🇵🇭 I’m a Filipina/ Canadian/ American. Yup I totally agree on doing your homework. I decided to have my house built here in the Philippines after 42 yrs living in Canada and the US. Cost of living here is very cheap and affordable coming from the States. I’m frugal so I only spend an average of $500 dollars that’s including groceries and utilities. It is a 3rd world country however it’s also a developing country with lots of new infrastructures.
This is the best description of Costa Rica I have heard. I agree with all you said. I experienced so much of the same since I lived there for 25 years. You sound like you miss it. I miss it right now as well because my daughter and granddaughter still live there. I miss going to the ferria, I miss hiking up the hill, and the most beautiful sunsets in the world!
This is a great video. Great information and well put together, just straight to the point with no fluff. Thank you to you and your family for sharing your experience with us all.
I’m so glad this video popped up on my suggested videos list! That brought back some great memories of my trip to visit you guys in Costa Rica. Still kind of sad that I lost all of those great photos. Losing the pictures definitely stung worse than losing the equipment, which my insurance covered 100%. Those were such fun times!
Hi Josh, yes! Those were fun times. No doubt that if your camera had not been stolen some of those photos would have been in this video. The sting still stings after all this time.
Mostly heavy inflationary forces a declining purchasing power of the US dollar and an incredible crime rate where hangs open fire with machine guns exposing you to a collateral statistic.
Thank you for sharing your experience! It brought back many memories for me. My family lived in Mexico (Oaxaca) for almost 2 years when I was 9 and 10 years old. I used the Spanish I learned on my 2 year church mission to Chile.
ThankYouSo Much❣️for doing this video👍😊 I found it very informative and there was things that you covered that I either never thought of? Or never knew? I love the conclusion on your own personal thoughts and experiences! I also love that you didn't sugar coat things and kept it very truthful and real!👍😘 This has definitely made me more aware of things.
I spent 3 months in CR also in Guanacaste about the same time as you. I liked it a lot too. I rented a car most weekends to go around the country to sightsee but otherwise walked. I did not feel comfortable driving at night with potholes and stray dogs. They delivered the car right to my place which was nice and it was not expensive to rent……but i am sure that has changed. One time I had my running shoes on balcony to dry out and they were stolen and it was hard to find quality replacement. Someone mailed a pair to me. That is difficult too. My mail address was White House on right side of the road 100 meters past the fence so had to get them delivered to PO Box. Loved the warm ocean water and waves.
I have following you for almost six months, I watch many of your videos and am inspired about your quietness and very religious attributes which I respect and love. Both my husband Jim and I are beginning to think about retirement, and I cannot stop thinking about being an expat. There are so many places it's over whelming. but as an American born, and first generation to Cuban parents who came to America to work hard and attain the American dream long to live somewhere else. I have an acquaintance that moved to Costa Rica fall of 2021 and they have never looked back. We are almost both at Retirment and have approximately 5 for my husband and 7.5 hears to go before I can retire. So research is key. Thank you for your inspiring video today on the cost of living. I think I might just call you for Retirement financial help. Thank you Lane.
Great video! Wee really enjoyed watching it. Our family spent 2 summer vacations in Costa Rica in 2011 and 2012, so we could relate to a lot of what you and your family experienced. FYI, we are not clients (yet) but we did attend one of your luncheon seminars last year at Fleming's and I also read your book and subsequently started making Mega back-door Roth conversions. Thanks for the tip!
Great video: I am married to a Tica and been there investing if we can retire there. The cost of living is too high and goes up daily. Also, crime is rising. But the bottom line is that if you have assets of under $500K, you can't live there comfortably in the cities, maybe villages or small towns, yes but the RE cost in big cities is the same or higher that in the USA for the same house compatible.
I also agree with much of what you said, although I'm a new Expat. I've been here about 2 months, permanently, although many times as a tourist. Food and everyday expenses are as expensive if not more so than the United States. Where you really save money, though is on the taxes. Property taxes here are about 1/10% the cost of what you can expect in the US. It's not a significant difference relative to cost then the US, but the lifestyle is something you can't put a price on here. It is so much more tranquil, especially once you are out of the capital of San José. Shopping is definitely more of a challenge for electronics, other 'wants', more so than needs. With all that said, I do not plan on returning to the US. I'm perfectly happy living in my new home in Costa Rica.
You got lucky in the dad department. When he said I want to spend quality time with my children I said to myself now here is a good man. I pray you have him in your life as long as he had his dad.
You didn’t mention health care, including costs to return to the US to see family, or getting help if you experience illness or need in home care/ like physiotherapist or other treatments. I think things have definitely modernized since your experience.
Costa Rica is has both public and private healthcare systems. When you become a resident, you must enroll in the public healthcare system (CAJA). Many expats use the public system for routine healthcare and have private expat health insurance for specialists, surgeries and emergencies
I watched your video and it was very interesting, The most interesting part is that I am from Costa Rica and I saw things that I have never seen in my life, ie the shacks you showed. I've lived in the USA for the last 38 years and I'm retired. Like I said I'm Costa Rican, but I'm not planning to retire there for several reasons, reason numero uno is that my wife is from Wisconsin and she definitely doesn't want to live there. We go there, or I go there quick often to see my family in San Jose; I can live in San Jose almost as comfortable as I live here. However, I do not want to deal with the roads, the traffic and the slow paste of the Costa Ricans. The country is beautiful, I love it, it's my country but I'm spoiled here in Pennsylvania. I'm 64 and who knows I may end up there because the medical health and care of older people are a lot cheaper than here. When my parents were sick, we paid $200 a month for a person from Nicaragua to live in the house and take care of them full time. Health care is cheap and good for the middle class and the lower class but higher middle and higher class do not go to the popular health centers because they are not good. The middle class go to routine private service but when there is a need for hospitalization for a long period or surgery they usually go the the health system hospital and is free. So they avoid paying hundred of thousands of dollars. If you are rich then they have a few private hospital that are very good. If I have to recommend to retire in Costa Rica, I would suggest small towns an hour away from the ugly San Jose traffic and pollution. I would live in San Ramon, Palmares, Atenas, Grecia, Los Santos, Zarcero and other small towns. I don't like the beach and the hot so I will not retire by the ocean but that's up to what people like. Thanks for the video, I enjoyed it.🥰
What do you suggest regarding buying/renting in another country? And where should the funds be taken from to buy? Most of my funds are in various retirement accounts.
What I have yet to see anyone touch on is this. For those on fixed incomes of 841.00 USD SupplimentalSecurityIncome for whatever the reasoning is, who have to get real creative to survive in the states month to month. Example: finding chicken, Beef, on deep sales and pressure canning it, preserving it for 1 up to a year or more, or canning butter and milk. Raising chickens, presercing eggs with mineral oil will keep eggs shelf stable for a year also. Anyway as the price of livings high and going up as ronnie dunn sings here in the states with no sign of slowing. Costa Rica, Equador, mexico, chili all have a certain charm about them. More so since covid opened up the remote work options. I think what keeps those on a small check here is that going a road it would go away. Lets face it not many are willing to be your pal under the poverty line. The luxuries afforded is here are starting to slow down.
Hahaha, my wife pointed out that I pronounced that wrong as well. Yes, I am a Christian and a member of the Church of Jesus Christ of Latter-day Saints.
Corollary… keep more income instead of living cheap. For someone making a good retirement income from taxable investments, Puerto Rico Act 60 makes capital gains tax-free. Still in the US for Medicare and legal.
You can live anywhere you want, it doesn't impact Social Security. However, Medicare is s different story. Medicare will not cover you outside of the U.S.
How much did you pay for electricity, water, gas for the car, to ride the bus, rice, beans, ?did you buy or rent card.? How much to rent house? It seems you were on vacation for a year. There was not much about the cost of living.
I concur with much of what you said. I might have concluded it with... Do you prefer forced austerity or chosen and preferred for. Amongst people used to such or amongst to people who assume they deserve more for ?? Some unknown reason
Costa Rica 🇨🇷 is way different now from 10 years ago, but definitely is more pricey then US, the new apt sells for over $1m and food is over price too but I love it and got me some land in the south (Perez Zeledon) still under value on my opinion, I’m only 37 but I’m working hard to move down there before I turn 50 🤞
It seems to me that older people rho rely much more on basic infrastructure would have a tough time in humid hot weather or in more secluded areas without access to all the medical services. Even just during winter months. And if they're leaving the US, why would people want to rely on imports that serve to undermine the local merchant and production? Maybe younger families and couples would do better there . There's also the ethical issues related to being separated from the local people because of language. And the immense amount of trash in those countries lying around and ending up in rivers and beaches.
There was another American that was planning to stay a couple of years, he purchased the SUV and then something changed with his job and his employer required him to move back to the states. We took over his car. So it worked out well for us and for him. We found the house through a real estate company, Blue Water properties. You can look them up.
We were planning to buy a car locally but another Expat from the States with a 4 wheel drive SUV was required by his employer to return to the states sooner than anticipated. He didn't know what to do with his car so we offered to rent it from him. It worked out well for both of us. After we returned home some other expats wanted the car and he rented it to them.
Thank you！ Most you said is true except internet and road conditions have been greatly improved now since 10 years ago you lived in CR. We lived full time in Guanacaste CR in the beach town after 15 years vacation here. Love the beautiful country, love the people here, and freedom to choose the lifestyle you want! Puerto Vida🏞️🏖️
iT RAINS , THE FOOD IS OVERPRICED AND THE CURRENCY RATE TO USD IS TERRIBLE . oVERPRICED COUNTRY YOU ARE PAYING FOR THE NAME , ITS A TOURIST COUNTRY NOT RECCOMENDED TO LIVE .
Live your program, yes if you have a big family Costa Rica or other country will be more expensive but if you are wife & husband is totally different. Presently I been retired in Thailand, excellent infrastructure and your social security will go a long way. 😀
