The Advantages of Living, Retiring or Investing Abroad
Recently I had the pleasure of leading a group of potential residents on a week-long trip around Costa Rica. I would venture to say their ages ranged from 45 to 60 years old. Most came here to explore the country with the goal of eventually relocating. After a week of traveling all over the country, viewing mother nature’s wonders, and attending a series of informative seminars, the majority of the participants had decided they wanted to live here for at least part of the year. After reading this you may ask yourself, “What would anyone find attractive about living in another country?”
Let’s look at why a tropical paradise like Costa Rica is so appealing to North Americans. The most obvious reason is the weather. People are tired of freezing winters, scorching summers, and the high utility bills that go with them. There are only two seasons in Costa Rica the dry and rainy. Both times of year are blessed with an abundance of sunshine. According to National Geographic, Grecia – one of the towns in Costa Rica’s Central Valley – purportedly has one of the best climates in the world.
Even those who are fortunate enough to live in warm weather areas like Florida or Southern California dislike the fast-paced lifestyles of both places. Costa Rica really fits the bill for anyone who is sick of hustle and bustle and wants to live in a country with a more laid-back way of life. One of the participants on our tour remarked, “Costa Rica reminds me of the U.S. about 40 years ago when everything was unspoiled, unhurried, and uncrowded.”
Another plus to living south of the border is that you can get more for your money. This seems to be the primary concern and determining factor when contemplating making the move to another country. In Costa Rica, a favorable exchange rate and lack of mega-inflation enable you to stretch your dollars. The cost of medical care, food, utilities, and entertainment are substantially lower than in the states. Housing in most areas is a fraction of the cost you are accustomed to paying. A full-time maid may even be hired for as little as $200 monthly – a luxury reserved for only the wealthy back home.
Equally enticing is the myriad of business opportunities awaiting creative hard-working individuals. It is also relatively easy to run a global business from abroad taking advantage of easy Internet access, fax machines, cell phones, and other improved means of communication. Small-time entrepreneurs are enamored with the prospect of being able to start a business on a shoestring. They could never dream of doing this back home. There are even tax breaks for U.S. citizens residing in foreign countries. Passive investors can find higher-yielding C.D.s, second mortgages, and other lucrative investments that don’t exist in the U.S. or Canada.
Others choose to move outside of the U.S. to start over and seek adventure in an exotic land. Fitting into this category are people tired of being stuck in dead-end jobs and the ‘rat race’ who want new challenges, the chance to pursue their dreams, and to achieve greater personal growth. Whatever their motives, moving to another country will afford them these opportunities and much more. People will most certainly make new friends since foreigners tend to gravitate towards one another when living overseas. Expats are also afforded the chance to immerse themselves in a new culture and enjoy the rewards of learning a foreign language.
Initially living in another country can prove to be difficult. Adjustment to a new way of life can sometimes take many months for those who are very set in their ways. However, with an open mind, positive attitude, and the willingness to seek out new experiences the transition can be relatively painless. Countries like Costa Rica and Mexico have come a long way in the last decade and to a certain extent have become microcosms of U.S. culture. There are cable TV, malls, imported U.S. food products, brand-name American clothing, and English language movies and bookstores – all of which facilitate living abroad. Improved telephone service, the availability of both satellite and Direct TV, private mail service, and the internet make it easier to stay in touch with relatives, close friends and keep up with what is going on back home, virtually eliminating homesickness.
Nevertheless, the expatriate lifestyle is not for everyone. It is best to test the waters and try living in the country of your choice for a trial period before you make the big move. If you are the type of person who is used to all of the comforts of home – efficient bureaucracy, first-class service, punctuality, etc. – then living in a country like Costa Rica will probably prove to be a frustrating experience. However, with a little more patience than usual, an understanding of the culture and people of the country, and an open mind, you will surely enjoy all of the rewards living abroad has to offer. Wayne Davis, an old friend of ours and 20 year resident of Costa Rica, once remarked when questioned about his lifestyle here, “My days are so jam-packed with exciting activities and interesting experiences that each day seems like a whole lifetime. I really feel like I have discovered the fountain of youth here.”
Living abroad will open the door to a new and exciting lifestyle. Unfortunately, many of us never consider it as an alternative. Who knows? If you decide to take the plunge you may never want to return home.
