New Frugality
May Drive More
Retirees to
Costa Rica
By Christopher
Howard,
Living in
Costa Rica*
Recently I read
an article about
Americans
changing their
spending habits
as a result of
the recent
economic
downturn.
Interviews with
ordinary
Americans
suggest a new
frugality
endures even
though consumer
spending has
risen for five
straight months
and retail sales
for three. In
the AP’s new
quarterly
survey, a
majority of
economists
agreed that a
new frugality
will persist
even as the
recovery gains
firmer footing.
“I would call it
a ‘mini age of
austerity,’”
said an
economics
professor at the
University of
Central Florida.
“It appears
consumers will
not run up
credit card debt
as before.”
This so-called
“new frugality’
may also be
reflected in
Baby Boomer
Retirees
searching to
stretch their
retirement
dollars by
living in a
country like
Costa Rica. One
of the main
benefits to
residing here is
the low cost of
medical care.
Many retirees in
the U.S. can’t
afford the
country’s
exorbitant
health cares
costs. Even if
someone is lucky
enough to have
insurance there
may be many
obstacles in the
road to
receiving
affordable
health care. On
the other hand,
Costa Rica has a
cradle-to-grave
health care
system for its
citizens.
Foreigners who
become residents
are eligible to
join the public
system called
“La Caja.” The
system must work
because Costa
Ricans have a
longevity rate
equal to or
better than most
first-world
countries. The
quality of
medical care is
so good that the
country is
quickly becoming
one of the
world’s
destinations for
medical tourism.
People are
flocking here
for joint
replacements,
cosmetic
surgery,
cosmetic dental
work and eye
surgery.
In addition to
medical care,
labor is
inexpensive as
are local foods,
utilities and
rentals. Taxes
are low in
comparison to
the U.S. with
home prices only
being one
quarter of one
percent or .25.
Public
transportation
is a steal so
you won’t need a
car. There are a
lot more perks,
too.
So it appears
that Costa Rica
is a solution
for frugal
people form the
U.S. and other
countries who
are seeking to
get more for
their money for
their golden
years.
*Live
in Costa Rica.
Expert articles
on how to live,
retire and
invest in Costa
Rica for
retirement.
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