Costa Rica is the "richest country on earth." That's the conclusion we've reached over the last three days of discussion here at the 2010 International Living Live & Invest in Costa Rica Seminar.
Nowhere else can you live as well, as long, or as happily... for as little money. Today was especially eye opening.
I'm Suzan Haskins, reporting to you from San Jose, Costa Rica, where the conference is taking place.
Over coffee this morning, I found myself talking to Geraldo and his wife, Carolyne, from Decatur, Georgia.
He's a former attorney and educator, easing his way into retirement. He's also a diabetic. And a few years ago, he had open-heart surgery. Today, he's fit and trim and raring to go. Go south, that is...to Costa Rica.
It's not health issues that are killing him, he says, it's health care costs in the U.S.
At home in the States, he's covered by Medicare. And that's not all bad. "But every time I go see a doctor, I have a co-pay," he says. "And I have to pay partial costs for the tests they're always doing. It ends up costing me at least $170 every time."
And if something major were to happen, it would be a big bite financially. After his heart surgery, for example, he had a bill of several thousand dollars.
So he's looking to move to Costa Rica, where his overall cost of living will be less...especially when it comes to health care.
At age 72, Geraldo isn't eligible for private insurance in Costa Rica. But he learned at the conference this week that if he becomes a resident here, he automatically qualifies for CAJA, Costa Rica's public health insurance system.
"I'll pay out of pocket to see the very best doctors in this country," Geraldo says. "And I'll save at least 1/3 over what I'm paying in the States."
And if anything catastrophic happens, Geraldo's medical care in Costa Rica will be 100% covered through CAJA.
Geraldo has already done the research on the quality of the medical care available here. And what he learned at the conference this week only made him more certain that he and Carolyne are making the right decision. (Several speakers mentioned that the World Health Organization has ranked the quality of health care in Costa Rica as higher than that of the U.S.!)
Geraldo and Carolyne were all smiles as they discussed their plans for the future. They have kids in Miami...and Costa Rica is a quick (just two hours) and inexpensive flight from there. Geraldo wants to buy some land and build a house here...maybe a big enough property where they can do a little farming.
"The cost of labor is low here," he said, "so I figure we can easily afford to hire
some helpers...both inside and outside the house."
Before they buy any property, though, Geraldo and Carolyne will "try the country out" for a while. They plan to come down and rent for three months or so.
For $600 a month, there are lots of rental options for quality living in Costa Rica, we learned this week. We heard from expats here who paid $600 a month to rent a brand-new, fully furnished three-bedroom home – with lawn service and internet included. They've now moved to the beach where they pay $1,000 a month for a home with a swimming pool and a big yard for their dogs.
In the last three days of this conference, we've learned exactly where and how to find the very best rental deals. Or, for that matter, where the best markets are to buy an income-producing rental property.
But to get back to where I started... if prices are so low and labor is so inexpensive, why do those of us in the audience at the Live & Invest in Costa Rica Seminar agree that this may very well be the "richest" country on earth?
Here's what the experts say...
5 Things That Contribute to a "Rich" Life in Costa Rica:
- This country is rich in biodiversity, which means GREAT weather. It offers just about every landscape, temperature, and topography (except snowscapes and who wants that?). From the cool temperate climate of the capital city and suburbs of San Jose to mountain cloud forests, pristine volcanic lakes, lush rainforests, and the world's most beautiful beaches...you'll find it all in Costa Rica.
- It's one of the "greenest, cleanest" countries in the world with little pollution and lots of clean water and fresh air. (Costa Rica is one of the only countries in the world to actually reverse deforestation!) You will be healthier here, I can practically guarantee it.
- A staggering 99% of Costa Rica's energy comes from renewable sources. I don't have to tell you what that means in terms of dollars...and sense!
- Costa Ricans are rich with happiness. According to sociologists, Ticos are the happiest people on the planet. The Happy Planet Index, an independent think tank founded to study environmental impact and human well-being, says: "Costa Ricans report the highest life satisfaction in the world and have the second-highest average life expectancy of the Americas (second only to Canada)."
- Maybe Costa Ricans are so happy because they have all the modern amenities anyone could want or need -- modern shopping malls, world-class hospitals, reliable high-speed Internet, you name it...
- And, importantly... despite the fact that this is one of the world's most peaceful countries, with one of the world's longest-standing and most stable democracies, Costa Rica has no military. Instead of spending money on wars and armies, they spend it on education (adult literacy is practically 100%) and on universal health care, which, as I mentioned, every resident qualifies for. (Free health care is provided to 86.8% of the population!)
But, of course, there's more. Costa Rica (which literally means the "rich coast") isn't called one of the world's richest countries in the world for just these reasons. Despite all the fortune of Costa Rica's land, culture, and people, it may just be a place that allows you to live a fuller, richer life...on so many levels.
4 MORE Things That Will Contribute to Your Own Personal Richer Life in Costa Rica:
- Low taxes. Costa Rica assesses no (zero) income taxes on foreign-earned income... and annual property taxes are laughably low...no more than a few hundred dollars in most cases. And there's no capital gains tax!
- Affordable real estate. Despite what you may think... real estate prices in Costa Rica are low -- just as low, in fact, as in Mexico and other popular Central American countries like Belize and Panama. You can still find properties with an ocean view, for instance, for one-half to 1/10th what you'd pay for a similar property at home.
- A low cost of living. Most expats report that they live quite happily and without sacrifices on a monthly budget of $1,500 to $2,500.
- It's easy to start a business here. So said speaker after speaker today at the Live & Invest in Costa Rica Seminar.
Starting a business in Costa Rica was one of our important topics today. Two expert speakers addressed that very issue.
John Collins, an expat from California, told us why he thinks Costa Rica is one of the best places in Latin America (if not the world) to start a business right now. He's successfully done just that...on Costa Rica's emerging southern coast.
In his presentation, he offered up seven "must-do" steps for starting a business in Costa Rica. These aren't legal things...they're tips John learned along the way. (Experience is everything, after all, and John was generous in sharing his.)
He also shared his top 10 ways to promote your business -- both locally and internationally. (Don't start a business anywhere today without understanding all this...like how to use new social media to your advantage.)
Juan Sostheim also shared his experiences. I have to say, this man is my hero. He's created an intentional, self-sustainable community in Costa Rica that has become a new world standard. If you don't know what that means, you need to listen to Juan explain his vision. I so wanted to speak to him after his presentation and congratulate him on what he's doing, but he had a huge crowd around him. Everybody, it seems, wanted to pick his brain.
But no worries, I have his contact info... And you can have it, too, by the way...along with contact details for every single speaker at this historic conference. And every single presentation, for that matter.
Today, for example, we learned more about the property-purchase process in Costa Rica. We learned about our options for moving our household goods here. We received a tutorial on all the little details that sometimes slip though the cracks...like traveling with our pets, how to best maintain daily communications with our family back home, how to handle paying our credit card bills, getting our mail...
