Nov 3, 2016

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Why Baby Boomers are Choosing Costa Rica as Their Retirement Haven

Why Baby Boomers are Choosing Costa Rica as Their Retirement Haven

According to the U.S. Census Bureau, the Baby Boomers are individuals who were born between the dates of January 1, 1946 and December 31, 1964. Starting in January of 2011, more than 10,000 baby boomers began turning 65 every single day, which is a pattern that will continue until the year 2030. There is no doubt that there will be a large number of people retiring, but the question that many people are asking is where they will retire. With more and more government debt and increasing taxes, there are quite a few people who are looking outside of the U.S. for a great retirement location.

The Pensionado

Individuals who are retired or semi-retired from Europe, Canada, and the U.S. have always been drawn to Costa Rica. In fact, there are currently around 100,000 foreign residents in the region. However, there are still many expats who are living as perpetual tourists or who have a residency that is “in process” which allows them to avoid having to leave.

However, if you want to qualify for retired status as a pensionado, the applicant has to prove that they earn $1,000 per month from a pension plan that is qualified. For married couples, they only have to prove that one of the people earn this each month. A pensionado agrees to live in Costa Rica for a minimum of 121 days (about four months) each year, with no max. Since the majority of people who are trying to retire want to reside in the area for more than four months of the year, meeting the requirement is not that difficult.

Living an Adventure Every Day

In the past decade, Costa Rica has risen to the top when it comes to retirement destinations. Spectacular properties, such as a beachside condominium for rent in Costa Rica are available, excellent weather, nice people and less stress are all the benefits that this region has to offer. As a result, it is no question why so many people want to retire to this destination.

If you are ready to make a move, finding a real estate agent should be your first step. They will help you find a property that is ideal for your retirement years.

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