Great article. We experienced a few of these in moving to Costa Rica.
Re furnishing an apartment — really better to rent a furnished place & ship or buy the minimum possible until you’re sure you’re staying. Our first rental included dishes, towels, sheets, everything. It’s actually very liberating to let go of all your old stuff! Or store it, though that’s a money trap of a different sort.
Re bank accounts — CR banks offer accounts in US dollars (our home currency) as well as in colones. Many sales transactions, including real estate, are pegged to the dollar as well. Helps with the currency exchange issue. But your solution to hold target currencies in Wise is a good one too.
Re health insurance, as senior citizens we found the premiums for international policies completely unaffordable at $1100-1200 per month for both of us even with a high deductible. Plus no coverage for pre-existing conditions — & let’s face it, at our age almost everything is pre-existing 😂. We pay cash for private care as needed or use the very good public health system here which costs us $118 per month as residents.
Those are great additions! When it comes to paying cash for private care, I think many ppl would be surprised that this is actually an option in some countries. Many exceptions apply of course. But even at my age (38) I'm choosing the cash option every now and then, since it's so much quicker this way. But healthcare abroad is a whole universe, I'll drop an article on that at some stage, but not sure if it will fit within the Substack post length limit ;)
Thank you for generously sharing your knowledge with us Ben! As a former military “brat”, the allure of living abroad has been a part of my DNA since I was 14 (I’m now 55). Your insights are invaluable as my husband and I figure out what lies ahead for life’s second act.
You're welcome Will! Once you subscribe to Digital Citizen, I'm able to add you to the list (alternatively, you can send me you e-mail via DM). Then I will add you right away ;)
Great article. We experienced a few of these in moving to Costa Rica.
Re furnishing an apartment — really better to rent a furnished place & ship or buy the minimum possible until you’re sure you’re staying. Our first rental included dishes, towels, sheets, everything. It’s actually very liberating to let go of all your old stuff! Or store it, though that’s a money trap of a different sort.
Re bank accounts — CR banks offer accounts in US dollars (our home currency) as well as in colones. Many sales transactions, including real estate, are pegged to the dollar as well. Helps with the currency exchange issue. But your solution to hold target currencies in Wise is a good one too.
Re health insurance, as senior citizens we found the premiums for international policies completely unaffordable at $1100-1200 per month for both of us even with a high deductible. Plus no coverage for pre-existing conditions — & let’s face it, at our age almost everything is pre-existing 😂. We pay cash for private care as needed or use the very good public health system here which costs us $118 per month as residents.
Those are great additions! When it comes to paying cash for private care, I think many ppl would be surprised that this is actually an option in some countries. Many exceptions apply of course. But even at my age (38) I'm choosing the cash option every now and then, since it's so much quicker this way. But healthcare abroad is a whole universe, I'll drop an article on that at some stage, but not sure if it will fit within the Substack post length limit ;)
That would be great! Maybe make it a two-parter?
I think this will need to go intro a structured product, I will work on that soon and try to remind myself to answer here as well :)
RETIRE. This is a great article! All your articles have been incredibly helpful!
Thanks a lot! Comments like this keep me going ;) And added you to the list!
RETIRE
Added you! :)
RETIRE
Added you! :)
RETIRE
Thank you for generously sharing your knowledge with us Ben! As a former military “brat”, the allure of living abroad has been a part of my DNA since I was 14 (I’m now 55). Your insights are invaluable as my husband and I figure out what lies ahead for life’s second act.
Very welcome Cary! I just added you to the list. And 55 is a great age for another adventure! :)
Retire
Thanks George and Franki! Just added you to the list :)
Retire…and thanks for so much great information.
Very welcome Linda! :) Just added you to the list!
Retire
Hey Rae, thanks! Once you subscribe or send me your mail via DM, I can add you ;)
Retire
Added you ;)
Retire
Thanks Rindy, added you!
RETIRE. Thanks for all the great information.
Thanks Jay! Just added you and sent you the inital mail to get started!
Retire
Mailed you!
Retire
Hey Meg, happy to add you, pls subscribe, and I will add you to the list ✌️
Retire. Thanks for the good information.
You're welcome Will! Once you subscribe to Digital Citizen, I'm able to add you to the list (alternatively, you can send me you e-mail via DM). Then I will add you right away ;)
RETIRE
Added you ;)
RETIRE thanks for the article!
Welcome Ella! DM'd you ;)