Living Abroad Solutions to Scary Retirement Facts

Even in the best of times saving for retirement is often a monumental and difficult task, now with middle class opportunity shrinking, economic “cliffs” and austerity measures, it can be not just daunting but scary.

Many Americans are starting to look at options to make their finances for retirement more assured.

Here are five hard facts on retirement and how living abroad can provide viable solutions.

1. Americans live for approximately 19 more years after retirement

This represents 20-25% of your entire life and further, approximately half the population will live longer than average life expectancy.

Many American (especially baby boomers) have realized that apart from declining middle class opportunities, a potential bankrupt social security system and other economic disasters and woes, their savings are simple not going to last. Many have discovered that living aboard can significantly increase their odds of having sufficient money in their Golden Years.

2. Real estate values

Many retirees are expecting to cash in on their number one asset, their home/property.

The survey conducted by the Professional Risk Managers’ International Association for FICO found that home prices in the united Sates are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers.

The report, Emerging Trends in Real Estate from the Urban Land Institute, predict above-average growth for Latin America, well ahead of that for the United States and Europe, and other survey’s from across the global predict Latina America and specifically Central America, will see significant growth in real estate value, as more and more investors jump into the largest emerging market on the planet.

If you are looking at improving your asset value, living abroad on your own real estate is increasing attractive.

3. Medical cost will continue to rise, as well as your need for medical attention

It is a well known fact that US medical costs will continue to rise as will insurance costs. The aging population in US will also require more medical treatments as they age.

It is also a fact that medical and dental treatments and procedures in places like Costa Rica will save you from 30% to 85% compared to the USA. (See TCRNs Health section for numerous article medical tourism)

4. Currently, the average Social Security retirement payment is just $1,220 a month

How far does $1220 go? Not far in North America. There are several areas in Central America, like Costa Rica where $1200 covers your monthly cost of living expenses, rent utilities, food and even leaves a little extra.

For example in Costa Rica, outside of the densely populate urban centers or tourist traps, a nice 2 or 3 bedroom house is around $400/month, utilities including cable and internet will run you around $150/month, food is$450/month approximately.

5. The average cost of an assisted living facility is approximately $40,000 a year in the U.S.

Projections estimate that about 3 million US expats will join the million+ already in Mexico and Central America within the next 10 years. Other estimates place the number closer to 10 million by 2025.

That, added to the shortage of affordable assisted living facilities in the US, creates a huge opportunity for investors and developers. When you search the news online you can find numerous investors, developers and existing assisted living facility businesses already moving south of the border, to take advantage of cheaper development costs, lower cost of living, less expensive but still highly skilled labor, and the growing number of baby boomer expats moving to Central America.

Living abroad for retirement has become a reality for many Americas and is projected to become a major consideration for the baby boomers population which are now hitting retirement age at a rate of 10,000 per day in the US.

For more information visit www.costadevelopers.com and retirement in Costa Rica, contact us on the form below and one of our Customer Service Experts will be glad to help you.

Posted by Costa Developers

What do “baby boomers” wished to have when going on vacation?

There’s no question that comfort and price are two important elements when going on vacation, and people between ages of 48-69, that have been called the baby boomer generation, become more demanding bout what they look for when traveling for leisure and pleasure.

A recent survey conducted by WatchBoom.com an online magazine with 7000 subscribers, revealed interesting suggestions to resort and vacation centers on the world.

One of the most important things, of course is the price, but curiously 60% of people who responded to the survey said they’d be willing to pay a few extra dollars if they’re promised to have a time to remember, even if that is on high season.

Travelers also prefer all-inclusive hotels, giving them the choice to not pay anything extra for food or drinks. “Knowing that your tab for food and drink is covered takes a lot of unknowns out of budgeting for a vacation, especially for (Boomers) who foot the bill for family reunions and the like.”

More than 50% of respondents say they would prefer a “garden view” room at beach resorts because of pricey “ocean view” rooms at some resorts, and one of the subscribers said that “you can’t always get a front-on view of the ocean” from an ocean view room.

Boomers were also asked which the top five foreign destinations to vacation were; the results of those places are 1.Mexico, 2.Hawaii and the Caribbean, 3.Spain, 4.Costa Rica and 5.Canada.

The most important reference to choose a place is the experiences of others; the best way to find out how good or bad is a place is from the previous travel of relatives or friends. But online reviews are also very important, some say they’d rather see some good and bad reference instead of only wonderful things, “When I see a whole string of reports saying a hotel is really wonderful, and nothing ever goes wrong there, I get a feeling that the reviews have been ‘planted’ by the hotel.”

On the other hand some do rely on what others have said about the places on the web, “I rely on reviews by people who’ve actually stayed at hotels to steer me away from noisy, dirty and otherwise awful places…things I’d never have known from pictures of hotels on the websites.”

All inclusive hotels have a challenge of pleasing baby boomers’ visitors around the world, Costa Rica is no exception of it is surely a place where you will find everything you’re looking for to have a great time.

Posted by Costa Developers

6.9% more tourists came to Costa Rica on the third trimester of 2012

According to statistics of the Central Bank of Costa Rica (BCCR) and the Directorate General of Civil Aviation (DGAC) between January and September 2012 the income of tourists to the country, rose at a 6.9% leaving as the balance $ 1.7 billion to the State.

These figures show that in the first nine months of the previous year (2012), a total of 1.635.348 people entered the country by airway, while in the previous year (2011) the same figure was 1.593.999 which reflects growth of 2.5%. The authorities even scanned the last quarter of 2012.

In addition to the income by air, is added the entry of tourists who arrived in the country by land, which were 1.799.000.

According to the corresponding authorities, since 2008 the number of tourists entering the country is maintained between 2,000,000 and 2.100.000 per year, which shows a clear change in the figures that were presented between 2004 and 2007.

The Minister of tourism, Allan Flores indicated that data are still needed "I have information that the airport Juan Santa María closed in a significant way, as well as the International Airport Daniel Oduber." You have to wait to have the data for the fourth quarter of 2012 ".

The country has made strong efforts to issue of marketing and exposure of the benefits and attractions to visit the country, which is expected to translate into the increase in the number of tourists entering the country. Tourism is one of the main economic activities of the country. Costa Rica plans to invest 17 million dollars for the promotion of tourism in 2013.

As the Minister of tourism, the overall expectation for the year 2012 correspond to an income of more than two million tourists, is however too early to make approximations. However, if indicated that most of the recorded tourists come from the United States and Canada.

"What I can tell you is that we are increasing the budget in promotion and marketing and our participation in international fairs; "also hope to have completed the National Convention Center, which will attract another form of tourism this year", said Flores.

Posted by Costa Developers