Moving To Costa Rica. What I would have done differently
Like many expats, I raised lofty perceptions in my head about the opportunities my wife and I would have in Costa Rica, long before we arrived. Before owning and operating our pizzeria, “PIZAA&CO,” here in Tamarindo.
Our journey was predicated on conversation had in 2009, where my (still) good friend Gustavo, a Costa Rican (still) living in the US, told us we “could open a bar in Costa Rica for $10,000. And for $20,000 we could open a really nice bar.”
That idea was the guiding force that eventually led me out of my career, and into the last 11-months of adventure and personal discovery, a path too long to describe here, but one I could never regret, even for a nanosecond of Tico-time.
As the one year mark approaches our time here, it stands to reason I look back over the last several years of planning and execution and see, had I the wisdom of experience, how I would have done a few things differently, starting with the money we came with and ending with the network we have finally started to build down here.
I knew two things about money coming down here: nobody was going to be able to tell me how much money we needed to make our dreams come true, as the number is different for everybody, and no amount of money was going to ever feel like enough.
That said, looking back I think we were off the “comfortable” mark a bit, although I believe things will turn out fine in the long run.
Like many expats moving here in our age range, we were coming from successful careers, looking for a push and more life-balance. In our story we took two years to plot and plan, which involved selling our already “underwater” LA condo immediately, moving into less costly digs, and saving like we had never saved before.
In the rearview, I would have moved us to more inexpensive living accommodations in LA to save more, and I would have done more to cut my spending budget at the time.
It is here that the time-travel paradox of reviewing past decisions becomes irreconcilable, and likely more a concept what I would do going forward if we had to move back, rather than what we would do if we could travel back in time.
To better explain, what I mean is, I don’t really believe we could have reduced our spending any more than we did at the time, based on the lifestyle we had grown accustomed to, and in the way that we were wired to make life work for us at the time.
Sure, from the comfort of my reduced-comfort lifestyle in Costa Rica, it’s easy to judge my former self, but harder to walk in his shoes. I now have slightly adjusted values and would, at least at first, go back to my former life needing less.
However who is to say my future self wouldn’t laugh at the me of today, with all my naive presumptions about how I could avoid going back to being the man I was once before, wandering malls and Target stores, collecting purchases like they would somehow fill my life with value?
Simply put, looking back, if I could, I would have spent less and saved more.
So, how much money, really? With no kids, just our dog, we could have lived on and paid for travel, food, rent, utilities, lawyers, residency submission, and all other unforeseeable expenses for comfortably for $60,000 for the year, with leftover after 12 months.
If we had another $100,000.00 stashed for buying a business, that would have been my optimal starting place. In total we would have left LA with $160-$200,000.
More money would have allowed my wife and I more time to shop business options once we arrived in Costa Rica. Saying “more time” is really like saying “more money.” Keeping it simple, the less money you come with, the less time you have to consider your options.
How much time? A year would have been good. A year and six month might have been even better but two years would have surely been too long without something to work on. I think 12 months would have been the sweet spot.
In those 12 months, or beforehand, I believe that we would have been better served by setting some clear outlines for our dreams. We went into our search without knowing if we wanted to try to finance, to buy or to rent, to build new or to buy an existing business.
In our efforts to keep our options wide open we undermined our ability to plan our time more specifically. Had these decisions been more firm before leaving our lives in the States, the preceding two consideration may have been more clear. In our case we kind of got luck but have not survived the first year yet so time will tell.
At this point we are working backwards through my mind. A better, more concise idea of what we wanted, would have meant better appropriated time spent in exploring options, and more efficient use of money towards that time spent.
It would be short-sighted for me just to point the finger at money, although a lot of money could make up for a lot of mistakes; I imagine those who are in that category are not reading this, not at this point.
In the year or so that we travelled there is one more thing I would have made a point to do: interview and talk to more lawyers. I would have talked to 10-12 lawyers in any town I was in, asking them open-ended questions about their practice, performing due-diligence online of their reputations, and asking other business owners about their respective experiences with those attorneys.
I believe after a year of talking to lawyers, living for 2-3 months in different areas, I could have made a more educated decision on what triggers to pull and where. If my wife and I should fail in our mission down here I will read this piece and remind myself of what the new plan could be, but I doubt that will be necessary, I think we will be okay.
I have learned to forgive my past self for the lavish lifestyle he once lived, and for that same reason I must give my future self the freedom to live the life he must live, because I couldn’t possibly understand the world as he understands it.
One more thing… watch this video:http://youtu.be/6K_n0FNqDg4. It really captures my thoughts looking back. May it bring you value and a message I wish I heard, before rushing off to chase my dreams. May you chase your dreams always and may you do it more wisely than those before you.
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Written by VIP Member Damon Mitchell who spent over 10 years in the fitness industry before he moved to Costa Rica in search of a better work/life balance. Currently he lives in Playa Tamarindo in Guanacaste, where he and his wife Cristina are owner-operators of Pizza&Co pizza express, located in Plaza Conchal 2.
Daily, Damon runs on the beach or works out at Tamarindo Fitness Center, keeping fit by doing a combination of old-school weight lifting, calisthenics, TRX, stability ball work and just about anything he can do to create new and fun exercises. Most recently he is learning to surf.
You can email Damon here if there is anything specific about staying fit and healthy in Costa Rica you would like him to cover in his next article.
Moving To Costa Rica. What I would have done differently
Article/Property ID Number 4406
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Andrew Makarik
to@welovecostarica.comAndrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.
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