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How much can you live on a fixed income?
Do it’s crucial that you downsize your lifestyle to get to be able to afford it?
Where should you live, and can you fulfill your post-work dreams in that location?
For many retirees, the cost of living in the United States has become way too expensive.
Use Wise or Revolut or asimilar international bankthat wont charge transfer fees, currency conversion fees, etc.
when living in Costa Rica, suggested Bexon.
$30 international wire transfer fees and 1%-2% exchange rates fees sum up over a year.
This way you might send one transfer a month and not paymultiple international fees.
Do not close down the bank accounts or credit cards in your own country, Bexon advised.
We have seen many people do this and then require them later.
Saving money in retirement while living in Costa Rica requires that you have a financial footing in the country.
Transportation Costs
Most people need a car when relocating to Costa Rica, according to Bexon.
We suggest using an import specialist.
Investing in the right property in the right location is key.
We suggest to rent a property for the first year, Bexon explained.
Typically, property demand and supply are governed by tourism to the area, added Bexon.
Therefore, understanding the tourism season and demand is vital.
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