In the wake of the violence at the U.S. Capitol in Washington, January 6, International Living’s editors reported a significant spike in visitors to “The World’s Best Places to Retire in 2021,” which the popular site for Americans considering retiring abroad posted on Jan. 1, 2021.
InternationalLiving.com also said there were Jan. 6 bumps to website traffic on its content related to how one moves out of the U.S., visas and residence, and second passports. Apparently a lot of Americans were seeking a form of escapism from the political turmoil that day, and daydreamed of retiring abroad to countries like Costa Rica, which enjoys the nickname “the Switzerland of Central America” for being a friendly, peace-loving democracy (Costa Rica abolished its army in 1948 and pledged that budget to education and healthcare, resulting in a well-educated population and medical access for all citizens and legal residents).
According to the International Living’s 30th Annual Global Retirement Index, Costa Rica is the world’s best destination for retiring overseas in 2021. The Central American country reclaims the top spot it also held in 2018 after falling to second in 2019 behind Panama and the third spot in 2020 behind both Portugal and Panama. Panama remains in the second spot in 2021, while Portugal dropped to fifth in this year’s rankings. Mexico and Colombia took 2021’s third and fourth spots.
The annual index—created through a combination of statistic crunching and on-the-ground input from in-country correspondents—ranks and rates the world’s top 25 countries for retirement across 10 categories, including cost of living, retiree benefits, climate, healthcare, and more.
High marks in healthcare, fitting in, development, visa and residency, and cost of living categories propelled Costa Rica to the top spot, and it also benefitted from its pleasant tropical climate, friendly and welcoming locals, vast real estate options and its natural beauty.
Also working in Costa Rica’s favor are already well-established expat communities throughout the country. Things are “set up” so to speak, making the transition to a new life easier.
Seniors also enjoy a custom of being treated with respect and special privileges throughout the country. But there is also a government program available to those age 65 or older that gives discounts on a variety of products and services.
“Being ‘Viejo’ or old is a rite of passage, a badge of honor in Costa Rica,” says Kathleen Evans, International Living Costa Rica Correspondent. “And you will see simple things like seniors going to the front of the line—any line, enjoying special early shopping hours, free bus rides, and the Ciudando de Oro or Golden Citizen card.”
“A couple can live comfortably, but not necessarily extravagantly, here for around $2,000 a month,” Evans says. “This includes renting a two-bedroom home with North American amenities, air conditioning, plus groceries, entertainment, transportation, and healthcare. If your monthly budget is closer to $2,500 to $3,000, you will find a relaxed lifestyle with every comfort you require.”
“Pura Vida” is a common Costa Rican phrase. Although it translates to “pure life,” it is often used to convey anything from “hello” and “goodbye,” to “great news,” “cheers!” and countless declarations in between.
“When you approach life with a Pura Vida state of mind, you are opening yourself up to the possibilities of life beyond what you experienced before,” says Expat Nicole Rangel. “What makes Pura Vida such a check-all statement is that it translates to more than just a greeting. It is a solution, an action, and a way of life. That is why so many people come to Costa Rica and find the best version of themselves—they embrace a new appreciation on life. It is just a bonus that it is in such a beautiful setting.”
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
