Retirement - Wildly Different Things to Different People

Financial planning is the traditional method used to determine one's monetary situation and plan accordingly for the future. However a new style of planning is beginning to take root, most often referred to as life planning. Where financial planning takes a traditional, one might say conservative and boring approach to finances, life planning takes a more active and varied approach.

Not solely content to ensure you're adequately prepared for retirement, life planning is devised to let you live out your dreams, both now and in the future. After all, while ensuring you have a proper fund set aside for the future is important, living for the present is also just as important. Financial planning too often leaves us with nothing to look forward to but that distant future, while life planning is about a total approach or change to one's lifestyle that brings positivity for the both the present and future.

Life planning as a concept has only gained prominence recently, and is believed to have been developed by the baby boomers, those fun-loving, free-wheeling hippies who had a connection to spirituality and creativity that has been somewhat lost since. Those same free-spirits are now cooped up in offices across America, nearing the age when they can finally get out of that grind and get back to something more surreal. Where life planning truly differs though is that many aim to escape the grind much earlier than traditional retirement plans would allow.

To these people, the end result is about much less than how much money one had or many expensive gadgets and gizmos, but instead about who gained the most out of their experiences. This is an immeasurable value that is uniquely defined by each person.

Retirement is less about reaching the end of the line and living it up, and more about continuing to live on, doing something one always had a connection with or dream of doing. The creativity they had in their younger years is what is most often cited as a prime motivator, be it becoming an artist, poet or author. Even something as simple as a cabin in the woods with a nice little stream gurgling nearby.

Like traditional retirement plans, these ideals do require money as well, and there's only so far that money can stretch, depending on the funding needing for one's ambitions. For many this may require a change in lifestyle and the foregoing of present day amenities. Sure you could always work harder, but that goes against the philosophy of the life you're trying to live. Instead trade in that high priced house or car and live with something more modest. Give up the expensive trips and exotic meals at expensive restaurants.

The trade-off of being able to reach one's dreams at an earlier age is worth it for many Americans, and is being seen in increasing numbers across the country. This is a much brighter picture than trying to fix poor buying options of a bad spender. Taking a cut in pay and financial freedom to live the way one wants to do, doing something they love is a reward that few experience.

So instead of planning for the future, why not plan for the present? Your dreams don't need to wait until your 65 and past your prime. They can be enjoyed as soon as you want to, as soon as you're willing to let yourself do so. With a little planning, making the transition from 10-15 more years of repetitive, soul-sucking work for the benefit of a few good waning years to living your dream now instead really is easier than you may think. It's all up to you and how you want to live your life.

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A Fresh Look at Costa Rica for Retirement & Investment: Debunking Popular Myths

For many years, Costa Rica has been touted as one of the top retirement havens in the world. With a stable democracy, growing economy government friendly to foreigners and tropical climate, as well as incredible natural beauty, it rightly earned the phrase, the Switzerland of Latin America.

Is this still true today?

Is it as expensive as Switzerland?

Are retirees still coming here?

Should they still consider Costa Rica?

To many people, there appear to be less expensive retirement destinations such as Panama or Nicaragua. To others, Costa Rica has become too touristy. Still others believe Costa Rica is overrun with gringos.

I want to debunk these notions, and others, and suggest that Costa Rica is still a terrific place to retire, or to start new life in if you are not yet retired, particularly if you choose your location and activities carefully.

Costa Rica is too expensive!

I have been living in Costa Rica for about two years but have been in and out the country frequently since 1989 and based my extensive travel throughout the country in conjunction with my Boomers in Costa Rica Retirement Tours, Ive found that there are still inexpensive areas in which to live, particularly if you stay away from the close-in suburbs of San Jose.

Take, for example, the wonderful city of San Ramon, an agricultural town of 70,000, situated on the northwest edge of the Central Valley. Home to three former presidents including Don Pepe, who abolished the army in 1948 and set in motion the basis for todays robust democracy, San Ramon offers a peaceful environment in which to live yet it offers all of the services of a larger city including numerous supermarkets, a mall with a three-screen theater, numerous outstanding restaurants and warm, welcoming locals. It is also only 40 minutes to the international airport in Alajuela, one hour to San Jose and 40 minutes to the Pacific Coast.

San Ramon also offers a wide variety of lots for building ones retirement dream home, either in the mountains which the Tico Times calls the Tuscany or Provence of Central America, or stunning ocean view properties in which one can see the Nicoya Peninsula, the Pacific Ocean and the bustling port city of Puntarenas.

Prices for land still remain low with some lots as inexpensive as $15,000 for a one-half acre lot, to $75,000 for an incredible ocean-view lot on 2.25 acres. With another $60,000 to $75,000, you can have an incredible ocean view lot and house, complete with all the services you need, for under $200,000. If you decide you dont want ocean views, youll pay even less, perhaps around $100,000 for a nice lot and home.

Property taxes are very low, only .25% of the registered value of your home/land. I paid $66 in property taxes for an entire year! The local government office even asked me if I wanted to pay my taxes quarterly!

If renting is more your style, you can still find nice two-bedroom, modest homes for rent for under $200/month. Low housing costs combined with very low prices on food and utilities makes San Ramon an excellent bargain. The towns of Grecia, Sarchi, Atenas and Naranjo offer excellent value as well; you just need to know where to look or link up with an experienced and knowledgeable local or gringo to help you out.

I also eat inexpensively, perhaps a $1.50 for breakfast, $2.00 for lunch, and then I splurge for dinner, perhaps $4-$6, and this is if I go out to eat! Of course, if you visit some of this countrys wonderful outdoor markets, youll find the freshest meats, fruits and vegetables, and can cook for yourself and spend even less.

I need good and convenient medical care!

Some foreigners living in Costa Rica complain that the medical system here is overcrowded and it often takes hours to see a doctor. Yes, in some areas there are less doctors per capita than in the United States but this generally applies to people living in the San Jose area, and often times relates to people who have elected to get on the CAJA system, which is the most basic health insurance program, run by the government, to which most Ticos belong.

Once you leave the San Jose area, even if you are on the CAJA, the lines lessen and more often than not, youll form a great relationship with an English-speaking doctor who is well-trained, and in some cases, will even make house calls. There are also other privately-run programs that allow you to see any doctor and even these programs are much less expensive than insurance programs in the states.

Costa Rica also has several outstanding hospitals that provide the same level and quality of service that you would find in the United States. CIMA Hospital San Jose, which is affiliated with Baylor Medical Center in Houston, is a brand new facility with all of the new technologies you would find in any top hospital in the United States. In fact, my doctor at CIMA has more advanced technology in his office than my doctor in New York City. Clinica Biblica, also near San Jose, is also another top hospital, with the same quality of service you would find at CIMA.

There are too many tourists!

Costa Rica certainly is a well-traveled tourist destination and sees over 1 million holiday makers a year. If you visit the beaches at Manuel Antonio, the rain forest of Monteverde or Arenal Volcano during the dry season, yes, you will see many North Americans and Europeans. However, living here, particularly in towns such as San Ramon or Grecia, you would hardly know it is the tourist season. These towns, and others, see few tourists and move at their own leisurely but consistent pace year round.

Actually, visiting tourist destinations during the off season is a significant benefit of living here, particularly given that prices are significantly less than during the high season.

Costa Rica does count among its residents some 40,000 North Americans, mostly from the United States. They come for a variety of reasons from wanting to leave their corporate careers for more meaningful work to just wanting to retire and enjoy a slower, relaxed pace of life that Costa Rica offers.

While these expatriates are scattered throughout Costa Rica, most of them live in the suburbs surrounding San Jose such as Escazu, Santa Ana and Cuidad Colon. Quite a few ex-pats live in beach communities up and down the Pacific Coast while a smaller number of people live on the Caribbean coast. However, many people are beginning to take note of the smaller towns in the Central Valley such as Grecia, Sarchi, Naranjo and San Ramon as well as even smaller pueblos surrounding these towns. These towns and pueblos offer a relaxed pace of life, reasonable property prices and an overall lower cost of living.

So, you can live in Costa Rica and not feel overrun by gringos or the high prices in other parts of the country. However, if you want to live among your own kind, you can do that too!

Historically, Costa Rica was a country primarily attractive to retirees; those people in their late 50s or early 60s (and in some cases much older) who wanted a small house, and could live much less inexpensively than in North America or Europe. However, Costa Rica is also beginning to attract a fair number of baby boomers, particularly people not yet ready to retire.

Beyond living a quieter, simpler life, these people are certainly not done working yet. They may own businesses they can run from virtually anywhere. They may also be writers or artists. Still others are coming here to invest their time and money in new businesses. Many people have made the successful transition from a corporate career in the states to running a bed and breakfast, managing a surf shop, offering tours, investing in real estate, and more much. Costa Rica is a very business-friendly country and the opportunities here are still endless.

The roads are terrible!

Like any developing country, particularly one with a rainy season for part of the year, and with trucks and cars sharing the same, often two-lane road, it can be hard to maintain the roads in perfect condition all the time.

Fortunately, under the new administration of Nobel Prize winner, President Oscar Arias, significant steps are being taken to address these concerns. Millions of dollars have been allocated to new road construction and repair. Costa Rica has come a long way in infrastructure improvements, and it is only getting better.

No hablo espanol!

While one can get by without knowing much Spanish, youll have a better experience if you try to learn at least some key words, phrases and sentences. In addition, befriending a Tico (hopefully a bilingual one!) will go a long way in helping you get things done here.

On our retirement tours, for example, we provide a post-tour relocation service where we link up our clients with a Tico to help with some critical post-move tasks such as getting a drivers license, hooking up electricity, phone, and Internet services, and a variety of other things. I couldnt get by without my Tico connections and my Spanish is getting better all the time.

But Costa Rica is in Central America!

Central America does have a reputation for being very poor, and historically, a region chock full political chaos, dictators, communists, and meddling by foreign countries. Costa Rica, however, has had a continuous and stable democracy since 1948 and the transition to new administrations have been as peaceful as they are in the United States. Yes, there are poor people here but it is nothing like the abject poverty found, for example, in Nicaragua or Honduras.

Costa Rica also has not experienced the gang warfare that is rampant in El Salvador, Nicaragua, and Honduras. It remains somewhat dangerous in these countries and the political systems are still not completely stable. Housing and land may be much cheaper, but is it worth paying less to live if you experience power cuts for six to eight hours each day (as is the case in Nicaragua lately) or more importantly, live in fear?

Ive also found that the people are much more welcoming to us gringos than in other countries in the region, and dont just befriend us for our money. They are very hard working, genuinely interested in learning about North Americans, and for us, it is not hard to integrate into Costa Rica society. I cannot tell you just how many parties and dinners Ive been invited to in Tico homes since moving here. They are friendly people indeed!

With millions of baby boomers in North Americaover 70 million of themretiring now or over the next 20 years, and living longer than previous generations, it will take a lot of money to live well in retirement, particularly in the United States. Is Costa Rica still a good alternative? Yes! Will you do well here and enjoy yourself? Absolutely! Come visit and introduce yourself to the wonderful people and natural environment that we still call paradise. Were here, living our dreams, and happy to help you! You can even email me at: boomersincostarica@gmail.com.

Andrew Mastrandonas is an American living in Costa Rica where he owns a relocation tour company designed to provide an introduction to Costa Rica for retirees considering moving here. He also owns a bed & breakfast and writes about travel, community issues, and culture for a variety of publications, including the Tico Times. For more information: http://www.boomersincostarica.com and http://www.AngelValleyFarmBandB.com

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