I have a good friend by the name of Eddie. He has lived in Costa Rica and survived despite being about eight years away from retirement age. How does he do it? By investing intelligently in the stock market. He is on line reading at least six to eight hours per day studying the market. He doesn’t make millions but enough to have a good lifestyle abroad. On the other hand, lazy investors just turn their money over to their brokers and have them do the investing. Most of these lazy thinks are too busy or just don’t have the energy to study the stock market trends. They end up being the ones who lose money in the market. The same thing happens to the same type of errors when they make real estate investments without doing their homework.
It turns out that many people who decide to retire abroad make poor choices because they choose the easy road instead of really investigating. Here is how it works. Instead of doing extensive research the lazy thinkers get on the Internet and come across one of the high profile sites where they are offered every imaginable service. There is one organization in particular that on the surface looks great to these lazy thinkers. Said company offers daily newsletters with scores of real estate bargains in paradisical destinations. They also conduct large retirement seminars where they guide the attendees to their bargain real estate projects in select countries. Furthermore, they publish magazines with slanted statistics ranking the places where they have vested interests with high ratings. In addition, they bill some of their Central and South American retirement destinations as the ‘new” Costa Rica. The latter together with some parts of Mexico have always been the leaders in retirement south of the border. Costa Rica’s success as a retirement haven can be imitated but never equaled.
Organizations like the one above seem really enticing on the surface to the naïve and lazy thinking retirees who find it easier to be led like blind sheep rather than taking the time to do the proper research. The result is usually a bad choice.
To avoid falling into this trap:
(1) Do your research
(2) Read between lines when being bombarded with propaganda
(3) Be careful of the large conventions and the manipulative techniques that are used to separate you from your money.
(4) Be careful if only a couple of real estate projects are being promoted in the countries theses organizations are hyping. You can be sure they are receiving a juicy commission from the real estate companies with whom they work.
(5) Don’t be naïve. It can end up costing you a lot of money and valuable retirement time trying to rectify your mistake as the result of moving to the wrong country. Your retirement dreams may even be spoiled as a result.