www.CostaRicaTicas.com

and please don't say marriage. also, i am not anywhere close to retirement age so no pension or SSI. the only way i have read about is putting $60k into CR bank that i have to take out $1,000 per month. any other ways?

NO

Yes. Knock up a little tica and let her drop the frog, then claim it. Residency will be the least of your problems...

_________________
"Your love gives me such a thrill
but your love don't pay my bills,
I NEED THE MONEY!" - John Lee Hooker

Disclaimer: The above is merely the opinion of the author unless specific scientific data is included.
Your mileage may vary. https://costaricaticas.com/phpBB2/viewto ... 978#206978

do you at least get some interest on your $60k as you are taking it out?

Making a 60K deposit in a bank would be a much cheaper way to go

For a quick overview of various type residencies try

http://www.arcr.net/residencyincostarica.html

This is not an endorsement of using ARCR to obtain residency but rather just using it to get some information in an easy format.

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

In your situation the 60k is the easiest and most practical.


BKTUNA
I am never going home

do you know if the 60K i depsoit gains any interest? i would hope so having to lock it up for 5 years

Based on this article, you may not find it that much cheaper to live in Costa Rica for much longer. The fall of the dollar is making our living in Panama and Costa Rica a lot more costly than it was. Add to that the costs and ridiculous bureacracies involved in getting residency...it will turn off a lot of people from wanting to move to these countries...

http://www.costaricapages.com/blog/trav ... e-rise/794

_________________
All that a man achieves and all that he fails to achieve is the direct result of his own thoughts...

The answer is yes, it gets a pretty decent rate of interest, around 7% I believe. I am in the 2nd year of this approach and it works pretty well. I have an atm card for the monthly xfers and can also draw on the interest accumulated if I want it. I did my residency through ARCR and they have been pretty good, and above all, successful.

_________________
"The only normal people are those you don't know very well." Joe Ancis

Since Panama is based on the dollar, how does the rise or fall of our currency affect Americans living there?

Historically Panama has had the lowest inflation in all of Central America because of the dollarization and lack of fluctuating local currencies. For decades the dollar was the most stable currency in the Americas and much of the world. Unforunately, all that has changed.

The dollar HELPS Panama (and America I suppose) on one level of making our goods and services more affordable to other countries and currencies. So...we can sell more globally...and our wage base is no longer so expensive for international companies to work and produce in the USA. But for a country like Panama that imports 90% if its durable and non durable goods...costs are going up dramatically and quickly. Basic food items imported are in some cases twice the price they were 2 years ago. Even locally produced goods are exported instead of sold here because they can get more money for them...therefore the local prices go up to export standards as well. And no matter where you live (outside of maybe Venezuela), gas is taking a huge chunk out of disposable income. Yet the wages here are hardly going up a bit. And the govt is needing more revenue to keep up as they have the same issues as consumers and citizens have.

Even on the real estate side...the Europeans and Asians are buying into Panama and pushing up the prices so rapidly...our US Dollars cant keep up in buying power. So right now, Panama marketers are writing off north american buyers and selling direct to Europe and other markets with stronger economies and currencies. I have to imagine Costa Rica is experiencing much the same. It would be interesting to compare REAL data from the 2 countries at the end of this year to see who has the highest REAL inflation...both in pricing and currency fluctuation. For sure, Colombia has become MUCH more expensive for Americans because you get so many fewer pesos for the dollar than just 2 years ago. A $60 room in Bogota is now going for about $100. OUCH. I actually have heard some chicas are only charging in pesos or peso equivalents now .

So that is a short and incomplete answer to a complicated question.

_________________
All that a man achieves and all that he fails to achieve is the direct result of his own thoughts...

Tman,

Great Answer!!!!

I had not thought of all of the moving parts.

In short, expatriates suffer from an increase in the costs of imports as well as real estate (a large cost of those moving), the latter becoming more expensive due to an increase in demand from foreigners who now have greater purchasing power.

Thanks again,
Harv

Anyone spent enough time in both Costa Rica and Panama to offer some cost of living comparisons?, and/or even quality of life comparisons?

All views valued....just lookin for info. 4 LONG years to go so I imagine things change but looking to retire someplace with a sunny climate, generally relaxed lifestyle and reasonable cost of living relative to US.

https://costaricaticas.com/phpBB2/viewto ... c&start=15
https://costaricaticas.com/phpBB2/viewtopic.php?t=19925

_________________

Living well is the best revenge
http://www.youtube.com/watch?v=MwUtj_YnNoY

You can choose the bank where you want to deposit the money and choose the bank with the best interest rates.