Costa Rica (or anywhere in Latin America) is a tempting option for a retirement destination. But don't let the advantages keep you from being practical.
John F. Wasik’s column on Bloomberg.com yesterday is all about retiring to Costa Rica. I have to say, the first time someone told me they were considering retiring to a developing country (in that case, Honduras) I thought, what? Why?
And then I started traveling and actually visited Central America and thought, ah… I see. All the comforts of home plus gorgeous weather and low cost of living. And I can’t pretend that being a worldly expat wouldn’t be pretty cool. I began to picture myself wearing a sundress and strolling through colorful markets with a basket on my arm, selecting fresh exotic fruit.
Wasik points out several reasons why Costa Rica makes such a good choice for retirement: the balmy weather, political stability, the diverse and lovely landscape.
But then he gets into the practicalities of it all, citing taxes, high health care and vehicle insurance costs, and the difficulty for foreigners in buying property. Well, a little realism never hurt anyone, right? It’s certainly important to know exactly what you’re getting into.
Until he suggests looking closer to home, at maybe Denver or Pittsburgh or Portland, calling them lively and vibrant. Pittsburgh? I’m hooked on the thought of ocean breezes and weekend trips to cloud forests and year-round tropical weather and an avocado tree in my yard. Too late for Pittsburgh!
Wasik’s best bit of advice is to rent a place in Costa Rica for a few months and experience the cost of living for yourself before up and retiring there. Try before you buy – always a good plan. Ok, we can compromise. When I'm ready to retire, I’ll be practical. But I’m definitely looking at San Jose, Costa Rica before Pittsburgh.
