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I’ve been reading as much as possible about CR over the past few days, this site seems to be the best. My wife and I are thinking about moving out of the US for retirement. I am a retired Navy man with a $1,500/m pention, I’m an average guy with average debt. My wife is a Registered Respiratory Therapist (RRT), My big question is: can we move to CR as an average “blue collar” couple or does it take a considerable bank roll? We were looking at Belize but I believe CR would be more within our means. Thanks for your time.
Pete and Lydia
There are certainly plenty of ‘average’ retirees living happily in Costa Rica on less than you will have… Would we be safe in assuming that your wife will have some retirement income too? Maybe some SS?
However, you did not mention anything about your home? Whether you would be in a position to buy a home here or whether you would prefer to rent…
Even though your pension is equal to the average income for three Costa Rican families, I would suggest that your $1,500 per month Navy pension income would give both of you a comfortable lifestyle after your accommodation costs have been met.
Just to make that crystal clear, if you own your own home in Costa Rica – it’s paid for with no mortgage – and you still have $1,500 per month coming in, then you’ll live well…
If you need to rent or buy a home with that income then it’s still doable but certainly more of a challenge.
Scott Oliver – Founder
WeLoveCostaRica.comScott,
We are 49/50, still well within the working class. If we chose to move we are both expecting to earn some type of income. My first thought would be to rent until we find an area that we feel comfortable in. For conversation sake, I am a retired Navy Boiler Technician, I have a degree in Occupational Safety but have been working in Hospital maintenance for the past 5-6 years. My wife would like to continue working in her medical field. I haven’t research employment yet so I have no idea what is available. We are both quite healthy and able to work.
Pete
You can retire to Costa Rica but you cannot relocate to CR and work. CR laws prohibit those without citizenship from holding a job that could otherwise be performed by a Costa Rican. You can own a business and direct operation of same, but you can’t do any work, as example you couldn’t cook, serve, take orders or clean up in your own restaurant, you could schmooze the patrons though—-of course there are many that violate the law and get a job and get away with it, but they face deportation if caught.
You could own a B & B and hire a desk clerk, a cook and a maid.
Or if you have enough cash to buy a home and car, say a minimum $100-$150K, you could retire early and enjoy the rest of your lives in more leisurely pursuits. Keep in mind that it is much cheaper to rent than buy in the current market, with some effort and luck you could likely rent a nice home worth around $200K for around $400 to 500 per month.
Scotts web site is full of valueable info and provides a needed service to the community. Another good source is the ARCR forum, http://forums.arcr.net/
Search the archive there for residency and citizenship info.
good luck
ed f
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