Looking into expatriation

gy_expat wrote:

Thinking of retiring in Costa Rica in 5 to 7 years (or earlier if possible), Looking for info, places to live, taxation on income from US (social security, 401K and rental ). Taxation in Costa Rica. Life in general.

Hola gy,

Welcome to Expat.com!

I would suggest first reading through the various forums here.  They will give you a lot of information and answer many if not most of your questions.

As to taxes, you are not taxed on Social Security and your 401(k) will be taxed at the same rate by the long arm of the U.S. government the same as if you were in the States.  Property taxes are MUCH LESS here than in the States.  Importation taxes are high, i.e., on a vehicle and goods.  At the same time that vehicle and those goods will sell for much more here so the high taxation is offset by this.

You need to visit and spend as much time here as possible before deciding to actually move down.  With this said, you need to look at it as a place to live rather than a vacation spot.  That would be two different worlds.

Life in general is much different here than North America.  And unfortunately it can't really be explained as it's a different experience for each individual.  I like and enjoy my life here.  For others it is a struggle to assimilate.  I myself cannot imagine living back in the U.S.  Too fast paced, too many angry people and the lack of compassion is not something I would enjoy.  Each person has to find what makes them happy and content.

Best of luck to you on your search.

- Expat Dave
Expat.com Team Member

Thank you for kind words. I grew up in ester Europe with a lot more compassion and probably a slower pace than hare in the US. With all that said I enjoy my life here but looking for a more relaxed retirement or reduced workload.

I looked into taxation and understand most of it including exceptions and such. I am planning my first visit in 2019 for a month or so and will try to meet people who expatriated from here and get some real answers about how to transfer money, rent, buy, living expenses, work opportunity (if needed)  etc.

I am also interested in a place where I can continue to bike,  swim,  run etc. in order to keep active and in shape.

As I am looking forward to the future beyond 55 years I would like an active life around mountain and hiking (more towards Central Valley) 

I perfectly understand your statement about the difference between visiting and living in one place. I tell many people who visit my birthplace,  Hungary it is a beautiful place ... to visit.

Thank you again for your reply and looking forward finding out more on this forum .