Costa Rica Retirement – Dan Prescher from International Living says Costa Rica ranks as their number 1 spot for the “World’s Best Places to Retire” Index in 2018.
“It just has almost everything going for it,” Prescher said. “It’s a very peaceful place. The character of the Costa Rican people is cooperative, non-confrontational, and just pleasant to get along with.”
And, most importantly, for those looking to lower their cost of living, it’s “very affordable,” he told Financial Sense Newshour listeners last week.
Deciding on Living Abroad
Moving out of the United States for retirement isn’t for everyone, Prescher noted. There are three things anyone should do to figure out if the choice is right for them.
First, those considering the move need to research everything exhaustively. The Internet has changed the entire equation, Prescher noted. Now, retirees have a massive amount of resources to help with research and can figure out how much it will likely cost to live in various areas within a new country.
Second, potential ex-pats also need to profile themselves and take into account the logistics of living abroad. One of the attractive aspects of Costa Rica is the relative logistical ease of returning to the United States, should a trip back become necessary.
Those considering a move abroad need to figure out if making the move is right for them. Can they tolerate the change in conditions? Will they miss anything that’s vital to their happiness if they move abroad?
After these questions are answered, the third step is to try before you buy, meaning retirees need to have a trial run living in-country for a period of time before they elect to buy property or become full-time residents.
Ultimately, though, the opportunities of economic arbitrage can give retirees a chance to live in relative comfort and stretch their retirement dollars much farther than they would if they remained in the United States.
After Costa Rica, International Living listed Mexico, Panama, Ecuador, and Malaysia as the top 5 Best Places to Retire in 2018.