With the current world financial crisis, especially in the Unites States, many people are having to postpone their retirement plans up to five years. In the worst case scenario some people may never be able to retire. Time is so important to everyone and can be our worst enemy.  Because of the current financial crisis thousands of people will have to continue working for a number or years may not live to see their retirement. No telling what people would give to not have to continue working and be able to enjoy their golden years. There is a solution for some of you. It is called  Costa Rica

Investment in emerging markets like Costa Rica is the way many savvy investors have made money.

Costa Rica can be the answer to your problems for a lot of reasons. First, you can down size and live for much less than you did in the States. Those who live on $3,000 per month in the U.S. can probably live on half of that here. The  person living on more can or less can also do the same. Why? Homes, rents, hired help, public transportation and non-imported foods are all more affordable. If you take into account that most Costa Ricans live well for far less than $1000 monthly and seem to be happy, you’ll see why you can live cheaper here without sacrificing your current lifestyle.

Many people can no longer afford medical are in the States. As you age medical care becomes more and more important. Here you can get insurance for under $60 per month in the public system. I belong to the private system and pay less than $2,000 yearly to insure my family. With the financial crisis in the U.S.  An increasing number of  people will have to give up their medical coverage just to make ends meet. I had a couple on one of my recent relocation/retirement tours who decide to more here because they could no longer afford medical care in the U.S. Costa Rica was the logical choice for them. They made the move and are  doing very well living here.

More and more people are investing offshore, especially the ways things are looking in the U.S.  Investment in emerging markets like Costa Rica is the way many savvy investors have made money. Fortunately, there are no sub prime mortgages here. Also, if you buy a home in Costa Rica you will have more money in your pocket  since property taxes are only a quarter of one percent of the declared value of your home. I have a large number of clients on my retirement tours realize good value when they see it and invest in real estate here.

If you take all of the factors I mention above Costa Rica may be solution many Americans are looking for, given world events. It is just are question of realizing the many opportunities  and options that exist here.

October is the worst month for rain

Recently,  a couple of people have written me about Costa Rica’s weather. They are thinking of retiring here but want to know more about the country’s climate. I’d like to start by saying that in the tropics the lower you go the hotter it is. Conversely, the higher you go the cooler it gets. You can choose between the mountains, Central Valley with its spring-like weather, the beach and all of the micro climates in between.

We have about five months of summer that lasts from the middle of November to the middle of April or beginning of May. From May until October is the rainy season or winter as it is sometimes referred to here. During the wet season the mornings are usually sunny with the rain coming in the afternoon or evening. Like other tropical places when it rains it usually pours torrentially. Sometimes the rain is accompanied by a lot of thunder and lightening. At the beach it seems to rain more frequently and harder than inland.

Traditionally October is the worst month for rain. It rains a lot and very hard. Sometimes you’d think you were in a tropical version of Seattle. My sister lives there and it seems to rain all the time. Luckily we only get this kind of weather in October. The rain is not unbearable but at times it does put a damped on one’s plans. When it is pouring  it can be really hard to get enthused about leaving your home. Traffic can be very bad especially if there is an accident during a storm.

The best thing to do when it is rains is curl up in bed with a good book, watch your favorite TV program, cook, go to the mall or rent a DVD. Fortunately, there are a lot of indoor activities in a country that is made for doing things outdoors. So, you should never be bored here during your retirement even when it rains. On my monthly retirement tours I go out of my way to tell my clients about all of the activities that are available here to stay busy and happy.

Lately much has been written and said about Nicaragua and Panama as places for retirement versus Costa Rica. People argue that the latter is too expensive. One of the reasons Costa Rica is seemingly more expensive is demand. It is tops on the list of retirement havens with more Americans per capita living outside of the U.S. than any other country in world. They can’t all be wrong can they?

Regarding the affordability of the country, one you move here and get settled you will be able to find the real bargains. You will also learn how to recognize a value property when you see one if you do your homework.

Costa Rica offer a lifestyle and more choices of places where to live.

The advantages that Costa Rica really has over Nicaragua and Panama are lifestyle and more choices of places where to live. It’s all about lifestyle anyplace you reside. Costa Rica has more options in this area. Just pick up a copy of the Tico Times, the local  English newspaper,  and you’ll see what’s available to keep you busy and happy. Whether its an indoor our outdoor activity, we have it all here. Costa Rica also offer a variety of places to live. You can live at the beach, the Central Valley with its perfect climate, in an alpine like setting on the slope of a mountain or in any of the areas in between.  Costa Rica’s unique geography and many microclimates make this all possible.

Another added plus to Costa Rica is its time-tested affordable healthcare system. Costa Rica has one of the highest longevity rates in the world!

On the other hand, Panama is very hot and air conditioning bills can run a couple of hundred dollars per month. There are some cooler mountain areas like Altos de María and Boquete but they are isolated and down right boring for most folks and getting more expensive all of the time.

Here is what one expatriate who moved from Panama to Costa Rica said about both countries and visited Panama recently. This sums up most of the differences between both places.

“In Cerro Punta and Volcán, which are really the breadbasket of Panama, I could not believe the few vegetables and poor quality of them that I found. They don’t have weekly ferias, and most good quality fruits and vegetables are shipped to Panama City. I went to five supermarkets in Volcán, and three vegetable sellers, and only found a small portion of what I have come to expect in vegetables here in Costa Rica. And in such poor condition that I ended up without tomatoes and lettuce. I couldn’t even find cauliflower, broccoli and leeks. Things were much better there 25 years ago!”
“I would agree that compared to Escazú, prices are lower in most all of Panama except Boquete which has become the playground of a lot of Hollywood stars. But compared to where I live , housing is really on a par with Panama.”
“There may be less problems with thievery in Panama, though having had my house broken into twice in Panama, I wouldn’t say it was that much better. You simply need to protect yourself as with anywhere in the world these days. Counting with thousands of members, 209 gangs nationwide (130 in the capital) are now bigger and deadlier.  One hundred forty-three juveniles were killed in 2006.  The rising murder rate can be directly linked to the soaring drug abuse.  Panamanian juveniles have the highest narcotics consumption rate in Central America.  The average age in which children are introduced to drugs is 12 to 14 years old, but some risk groups are exposed earlier in life.”
“I was amazed to see the changes in Panama City. They have constructed or have in construction over 120 skyscrapers over 40 floors high. 17 are over 50 floors and several will be over 100 stories tall. A large number of these are being constructed on Punta Pacifica which was a landfill when I lived in Panama 25 years ago.  Panama City’s new condos are getting closer or matching the average price of similar dwellings in the Greater Miami, South Florida’s international banking, fashion and film center and the thriving hub for Latin American’s finances and commerce. But what’s more, the worst Miami’s neighborhoods could be considered as peaceful and prosperous towns when compared to El Chorillo, Curundú, Santa Ana, Panama Viejo, Boca la Caja, Mano de Piedra and many other dangerous areas of the Panamanian capital!  Security is one main issue when relocating abroad since well-off foreigners living in poor countries are often preferred targets for criminals.”
“I have friends in both countries, but to me, the Costa Ricans win hands down. I have never seen such open friendliness as here. Perhaps it is because I don’t live in the city, but for whatever reason, I am constantly amazed by them. My daughter and granddaughter have come down and are renting here, also. While I was in Panama, her Costa Rican neighbors got together and brought over a Christmas tree and decorations knowing that she didn’t have a car to go find one. They shared the lights and decorations that they had and helped her set up the tree and decorate it. They have all made them feel welcome and have set up a date to make tamales and gingerbread cookies.
In the 15 years I lived in Panama, I never saw a neighborhood pull together to make virtual strangers feel welcome as I have in Costa Rica.”

Nicaragua is another story. First, the weather and geography can’t match Costa Rica’s for beauty. The largest section of the country on the east is basically uninhabitable.

Unfortunately the country has been really unlucky.  Mother Nature even conspires against the poor country in the form of natural disasters like the devastating earthquake in the 1970s and Hurricane Mitch more recently. The country has also been victimized by a whole string of leaders  from the Samoza family dynasty to the country’s current leader the infamous Daniel Ortega. You should remember him from the past century and his failed socialist revolution. All of this has combines to make Nicaragua the second poorest country in the Western hemisphere after Haiti.  The average monthly salary if you can find work is less than $100 dollars. It is not surprising therefore that over 500 thousand Nicaraguans have fled to a more prosperous Costa Rica to find work and better their lives.

There you have it. Make your choice. You can live in Nicaragua more affordably than Costa Rica or live I Panama which has more advantages than Nicaragua. When you weigh the advantages and disadvantages of living or retiring in all three of these countries, Costa Rica comes out the clear winner.

Real estate investors can still find value properties and bargains.

A lot has been written recently in Internet forums  and in local publications about how Costa Rica will be affected by the world economic crisis which began in the States. Most of what you read is pure speculation by unqualified people. To get the best possible investment advice listed to the real experts here in Costa Rica.

Felix Delgado a Costa Rican economist recently stated, “There have always been losses, but not this large. Some get scared while others take advantage and buy cheaply.” Costa Rica has a surplus of money at this time which makes the economy stable.

Furthermore, the country did not have investments in any of the large firms which went down in the United States. Also high risk sub-prime mortgages do not exist here.  So there is no speculation in that risky market. Felix Castro of the Economic and Financial Advisors (Cefsa) says, “People complain that the banks are not lending like before, well this is because they are protecting their liquidity by limiting their loans to only profitable borrowers and projects.”

Oxford Anallytica, an independent strategic-consulting firm drawing on a network of more than 1,000 scholar experts at Oxford and other leading universities and research institutions around the world, said in Forbes.com, “Latin America’s banking systems appear to be on a relatively strong footing to resist the crisis. As far as is known, they have not invested significantly in U.S. mortgage-backed securities, nor do domestic financial markets have the complex instruments that were at the root of crisis. Overseas credit represents a relatively low percentage of bank funding, and the main international banks operating in the region, such as Santander and HSBC, are generally considered sound.”

Finally, it seems as the economy in industrialized countries becomes unbearable, people with money realize that the stock market and certainly the real estate market in their own countries no longer are safe investments. Smart investors look for new emerging markets to invest their money.

What does all of this mean? Anyone thinking of living or retirement in Costa Rica can still do so. Also, knowledgeable real estate investors can still find value properties and bargains if they buy in right areas and at the right price.

In my past columns I have talk about Costa Rica’s excellent health care system. As you probably Costa Rica has both its “cradle-to-grave” public  health care system and private system available for foreign residents. The country boasts one of the highest longevity rates in the world and many of its doctors have been trained abroad. Best of all medical care is very affordable. Many people retire here for that very reason.

People on my monthly retirement/relocation tours often ask about alternative medicine and  therapies. We have acupuncture, different types of massage therapy, health spas and other alternative treatments.

One of the most recent additions to Costa Rica’s alternative health care field will be the Reserve at Portalon’s partnership with the Chopra Center for Wellbeing. The Chopra Center was recently ranked the #1 Wellness center in the world. Their center will take a holistic approach to health that treats the root issue versus the symptoms. The Chopra Center for Well being brings together the talents of a number of professionals in the conventional, complementary, and alternative medicine fields. They provide  alternative medicine consultations, therapeutic body treatments, health workshops, meditation instruction, hospital program development, and corporate training courses. The emphasis at the Center is on providing guidance to help individuals promote their own longevity, human potential and success, while increasing personal balance, happiness, and fulfillment.

Costa Rica have acupuncture, different types of massage therapy, health spas and other alternative treatments.

The center is based on providing alternative healthcare using the ancient practice of Ayurveda. Ayurveda is a natural and holistic healing system from India , dating back to 5000 BC. Ayurveda attempts to deal with the root cause of the imbalance using several therapies. By using specific herbal supplements, special diet, detoxification therapies, specific yoga exercises and therapies, the body’s imbalances will be treated in multiple ways that help the clients.

The Chopra Center for Wellbeing will be the crown jewel of The Reserve at Portalon. Our center will serve as a platform for world leaders in their respective fields to lead transformative health seminars and workshops. Services for the betterment of the mind and body will be offered and the programs will be changed frequently so as to offer residents the most up-to-date treatments and services.

The Chopra Center for Wellbeing borders a lush primary rain forest reserve. Guest can meditate, stretch, and get massages above flowing water, and in the canopy of a living rain forest. Every facet and aspect of the wellness center will promote the healing process. The wellness center will be located within a 900 acre nature preserve. Chopra Center for Wellbeing is a gateway to enjoy numerous activities, adventures, eco-tours, and extreme sports found uniquely within our development.

The center will also include: Hiking and walking trails,  bird watching trails, mountain Biking trails, meditation Lodges and  English speaking nature guides will be available to help guests explore all the treasures of the rainforest for an educational, thrilling, and unforgettable experience.