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11.75% Colones CDs: Answering Your Questions

Many people have written to us asking questions about our local investments at Coopenae, so we thought we would follow up and try to answer some of the most common questions. Usually they have to do with why we chose to invest there and whether or not it’s safe. We met with Marco Ramírez Jiménez, the branch manager of our local Coopenae in San Ramon to get accurate information for this article.

Our bank, Coopenae, is actually not a bank but more like a credit union. Matter of fact, in their logo it says “Coopenae, La Cooperativa del Sector Educacion.” It started as a credit union for the educational sector and in many ways was a credit union for other, smaller, educational credit unions. In 1994, it opened up to anyone who wanted to join and started offering other services, much like a bank.

Question #1: “Why Coopenae?”

1. First of all, it’s growing like crazy, with over 81,000 members
2. It’s a non-profit.
3. It’s been in business 45 years
4. It has 19 branches in Costa Rica and growing
5. It is the biggest Cooperativa in Central America and the 4th largest in Latin America
6. What struck me most was the low-default rate on loans — less than one half of one percent, the lowest of any financial institution in Costa Rica. They are very careful about to whom they lend money, which accounts for their low default rate. The default rate on national banks is just under 3%.

Question #2: “But how can they pay such high interest rates?”

Question #3: “What’s the Exchange Rate?”

Question #4: “Is my money insured by the FDIC?”

Question #5: “Do I have to live in Costa Rica to open a Coopenae account?”

So, is it risky? I don’t know. Is the stock market risky? The U.S. housing markets? How safe are our investments in the U.S., in the richest, most powerful country on earth? With permission of Coopenae, I have put their PowerPoint presentation to Investors below. It is essentially the same presentation I was given 2 years ago, although I didn’t become a client until June 2011.

To read our original article about Coopenae, click here: http://retireforlessincostarica.com/2011/07/investing-in-colones-certificates-of-deposit/

Disclaimer: The articles on this website are intended to provide general information only and have been prepared by RetireforLessinCostaRica.com without taking into account any particular person’s objectives, financial situation, needs or preferences. Our readers should, before acting on this information, consider the appropriateness of this information regarding their personal objectives, financial situation or needs. We recommend investors obtain financial, investment, or legal advice specific to their situation before making any financial investment or relocation decision.

Continue reading »]]>

Paul’s Monthly Tip to Live for Less in Costa Rica: Speak Spanish – Save Money

Learning Spanish to save money tends to be more nebulous than other money-saving tips because it’s hard to put a dollar amount on how much you can actually save every week or month. But I do know that learning a little Spanish can help your life in so many ways, over and above just saving money. By learning a little Spanish, you can have a richer, fuller life in Costa Rica. You’ll be less isolated and not confined to the Expat or English-speaking world. There are a lot of wonderful people out there and 80% don’t speak English.

Even though there is little bargaining in Costa Rica as there is in other countries, like Mexico for example, there is a tendency of some to charge foreigners more. Speaking some Spanish puts you in the know and these events occur less frequently. There may be a “Tico price” and a “Gringo price.” What do you think can make the difference? Speaking Spanish. If they think you’re savvy, you’ll often get the lower price.

So, here are some ways that speaking Spanish may lead to saving money:

• Be able to question prices and ask why.
• Ask for a cash discount at the pharmacy, health food store, restaurant, hotel and many other placesBargain at the feria (weekly farmers’ market)
• Ask questions at the car mechanic and authorize only the work you want done
• Ask for a lower price at hotels and tourist attractions
• Be more well-liked by the locals, therefore taken advantage of less (this one can save you thousands per year)
• Locals are more likely to protect you, and advise you when prices are out of line.
• Have a lot more fun!
• Be more confident

Don’t rob yourself…learn a little Spanish.

In that light, we promote a great online Spanish course. It’s the one I bought for my wife, Gloria. Visual Link Spanish did what it advertised. Within the first hour, Gloria was speaking in complete sentences over a variety of topics. It also appealed to her learning style – it teaches using multi-sensory methods: you see it in pictures, you listen to the words being pronounced, you speak the words, you write them, & you repeat them. It gave her a 750 word vocabulary and allowed her to speak in both present and simple future tenses. It was enough to get her started communicating in a Spanish-speaking country.

For those of you who don’t think you’d be any good at languages, or that you’re too old, then Visual Link Spanish is for you. But don’t take my word for it, try 11 free lessons by clicking here, and then decide.

Continue reading »]]>

Welcome to our RetireForLessInCostaRica.com Newsletter!

Paul & Gloria

In this month’s issue:

• So, what’s up with the Yeatmans? Our monthly update to answer the #1 question people ask us, “What do you DO all day?”
• Paul’s Monthly Tip to Live for Less in Costa Rica: Speak Spanish – Save Money
• Featured Speak Spanish Video: How to Bargain in Spanish
• Paul’s Monthly Weather “Report”
• Feature Article: 11.75% Colones CDs: Answering Your Questions
• What’s New on the Website - New Feature: Translate Our Website into Any Language!

So, what’s up with the Yeatmans?

Is January really over already? Seems like it just flew by! I actually have to take a minute to think…what DID we do all month??

Water, water, everywhere

Well, first of all, we had our beach days at Playa Doña Ana – three of them. The difference in January was that the Costa Rican kids were on their summer vacation. They are off from the middle of December to around February 10th. This means lots of Tico families at the beaches — lots of kids, dogs, and fun. Because we go during the week, the beach wasn’t overcrowded, but on weekends, when parents are usually off of work, we hear the parking lot is packed and every picnic table is taken.

We are always greeted with smiles from the people who work there as well as the Tico beach-goers. It isn’t unusual to see three generations of a family enjoying the beach together. Family is very important in Costa Rica and grandparents are both valued and respected. Children generally are well-behaved and happy. And that all contributes to the wonderful time we have when we visit Playa Doña Ana.

We also organized a couple of trips to Tortuga Island. Early in the month we had a group of 15 and then just the other day had a group of 30, most of whom were employees and family of a local veterinarian. Paul went snorkeling both times and had a blast. The water was crystal clear and he was able to see lots of fish and coral, except for that piece of coral he cut his foot on. Ouch!

We already have two more trips scheduled to Tortuga Island…one on February 5th and the other on March 3rd. What a great way to spend the day!!

Serving the Community

We continue to be busy as Steering Committee members of the Community Action Alliance. In January, we held a seminar featuring representatives from the U.S. Embassy in Costa Rica.  The first hour was directed to Expats and focused on services offered by the U.S. Citizen Services Department in the Consular Section of the U.S. Embassy. In addition to giving us information, they also provided Voter Registration, Passport Renewal, and Notary Services that day, of which many people took advantage.

The second hour was aimed at Costa Rican citizens, with the goal of demystifying the U.S. Visa application process.  The seminar provided an overview of Work and Tourism Visas and was conducted entirely in Spanish. Over sixty Ticos attended this session and our Embassy representatives did a great job answering all of the questions they raised. Afterwards, the Embassy folks told us that this was the best organized event they’ve done in Costa Rica.

Only in Costa Rica

We spent a Sunday driving to the Pacific Coast to hear our friend, Joe Anello, and his jazz quartet perform at Outback Jack’s Restaurant near Tárcoles. They play there every Sunday, so if you enjoy jazz and live in the area, it’s a great way to spend a Sunday afternoon.

But before heading over the the restaurant, we spent some time in Jaco, looking for boogie board flippers for Paul, and we saw a couple of things that made me say, “only in Costa Rica!”

The first was while we were parked on the street and I noticed a couple of signs that seemed odd next to each other. Maybe it’s just me, but it just seemed wrong to see a sign advertising ceviche (a local dish of raw fish or shrimp marinated in lime juice which “cooks” it) next to the Jaco Aquarium:

Then, that same day as we were leaving Playa Hermosa, we came upon a street we thought was blocked to traffic. We sat there in a car for a moment, trying to decide what to do when the Ticos standing nearby waved us forward. It took a minute to understand that the “road block” was actually a line of soda and beer cans placed in the road so that the cars passing that way would crush them. We were happy to oblige!

Day-In, Day-Out

Mostly, in between the activities, we have just been enjoying the beautiful weather and our daily life here at the Cabinas. The air is sweet and clean. Everything is still green and lush. We’ve had a stretch of days with nothing but blue skies and fluffy clouds. The trumpet flowers are in bloom — just spectacular!

We still love our lives here. Recently, some of our friends have decided to move back to the U.S. and that makes us sad because we will miss them. But everyone must follow their own path and we wish them all well. But, for us, we are grateful for each day in this beautiful country, for the friends we have made, and for the rhythm of our days — day-in and day-out.

Paul’s Monthly Tip to Live for Less in Costa Rica: Speak Spanish – Save Money

Learning Spanish to save money tends to be more nebulous than other money-saving tips because it’s hard to put a dollar amount on how much you can actually save every week or month. But I do know that learning a little Spanish can help your life in so many ways, over and above just saving money. By learning a little Spanish, you can have a richer, fuller life in Costa Rica. You’ll be less isolated and not confined to the Expat or English-speaking world. There are a lot of wonderful people out there and 80% don’t speak English.

Even though there is little bargaining in Costa Rica as there is in other countries, like Mexico for example, there is a tendency of some to charge foreigners more. Speaking some Spanish puts you in the know and these events occur less frequently. There may be a “Tico price” and a “Gringo price.” What do you think can make the difference? Speaking Spanish. If they think you’re savvy, you’ll often get the lower price.

So, here are some ways that speaking Spanish may lead to saving money:

• Be able to question prices and ask why.
• Ask for a cash discount at the pharmacy, health food store, restaurant, hotel and many other places\Bargain at the feria (weekly farmers’ market)
• Ask questions at the car mechanic and authorize only the work you want done
• Ask for a lower price at hotels and tourist attractions
• Be more well-liked by the locals, therefore taken advantage of less (this one can save you thousands per year)
• Locals are more likely to protect you, and advise you when prices are out of line.
• Have a lot more fun!
• Be more confident

Don’t rob yourself…learn a little Spanish.

In that light, we promote a great online Spanish course. It’s the one I bought for my wife, Gloria. Visual Link Spanish did what it advertised. Within the first hour, Gloria was speaking in complete sentences over a variety of topics. It also appealed to her learning style – it teaches using multi-sensory methods: you see it in pictures, you listen to the words being pronounced, you speak the words, you write them, & you repeat them. It gave her a 750 word vocabulary and allowed her to speak in both present and simple future tenses. It was enough to get her started communicating in a Spanish-speaking country.

For those of you who don’t think you’d be any good at languages, or that you’re too old, then Visual Link Spanish is for you. But don’t take my word for it, try 11 free lessons by clicking here, and then decide.

Featured Speak Spanish Video: How to Bargain in Spanish

Paul’s Monthly Weather “Report”

Click to enlarge.

Let’s see what happened on our mountain at 3950 feet elevation, four miles west of San Ramon. The dry season is in full swing. Just look at the trend over the last four months:

• October 2011: 35 inches (normal 13-15 inches)
• November 2011: 5 inches
• December 2011: 2 inches
• January 2012: 0 inches

We took the temperature at 6am, mid-day, and 6pm daily, as well as rainfall totals for the previous 24 hours, measured at 6am.

Rain Data from January 1st to January 31st (31 days)

• 0 inches of total rainfall
• 2 days measured trace amounts of rain

Temperature data from January 1st to January 31st (31 days)

• 6am average: 58.3°f (lowest reading was 55°f on 2 days)
• Mid-day average: 72.6°f (high of 78°f & low of 63°f during a 3-day cold snap )
• 6pm average: 63.3°f (lowest reading was 59°f and highest was 65°f on 6 days)

That’s it for this report. We’ll continue the weather info next month.

Featured Article – 11.75% Colones CDs: Answering Your Questions

Many people have written to us asking questions about our local investments at Coopenae, so we thought we would follow up and try to answer some of the most common questions. Usually they have to do with why we chose to invest there and whether or not it’s safe. We met with Marco Ramírez Jiménez, the branch manager of our local Coopenae in San Ramon to get accurate information for this article.

Our bank, Coopenae, is actually not a bank but more like a credit union. Matter of fact, in their logo it says “Coopenae, La Cooperativa del Sector Educacion.” It started as a credit union for the educational sector and in many ways was a credit union for other, smaller, educational credit unions. In 1994, it opened up to anyone who wanted to join and started offering other services, much like a bank.

Question #1: “Why Coopenae?”

1. First of all, it’s growing like crazy, with over 81,000 members
2. It’s a non-profit.
3. It’s been in business 45 years
4. It has 19 branches in Costa Rica and growing
5. It is the biggest Cooperativa in Central America and the 4th largest in Latin America
6. What struck me most was the low-default rate on loans — less than one half of one percent, the lowest of any financial institution in Costa Rica. They are very careful about to whom they lend money, which accounts for their low default rate. The default rate on national banks is over 3%.

Question #2: “But how can they pay such high interest rates?”

Question #3: “What’s the Exchange Rate?”

Question #4: “Is my money insured by the FDIC?”

Question #5: “Do I have to live in Costa Rica to open a Coopenae account?”

So, is it risky? I don’t know. Is the stock market risky? The U.S. housing markets? How safe are our investments in the U.S., in the richest, most powerful country on earth? With permission of Coopenae, I have put their PowerPoint presentation to Investors below. It is essentially the same presentation I was given 2 years ago, although I didn’t become a client until June 2011.

To read our original article about Coopenae, click here: http://retireforlessincostarica.com/2011/07/investing-in-colones-certificates-of-deposit/

Disclaimer: The articles on this website are intended to provide general information only and have been prepared by RetireforLessinCostaRica.com without taking into account any particular person’s objectives, financial situation, needs or preferences. Our readers should, before acting on this information, consider the appropriateness of this information regarding their personal objectives, financial situation or needs. We recommend investors obtain financial, investment, or legal advice specific to their situation before making any financial investment or relocation decision.

Now Shop for Books We Recommend & More
at Our New Amazon Store

Facebook, Twitter, & YouTube

You can now follow us on Facebook and Twitter, so please “like” us on Facebook, “follow” us on Twitter, and watch and share our videos on YouTube.

What’s New on the Website

New Feature: Translate Our Website into Any Language! In the last 30 days alone, RetireforLessinCostaRica.com has been visited by individuals from 46 countries. Cool, huh? To make it easier for our international readers, we have added the Google Translate feature to our website. It is available in the sidebar on every page of our website.

For those of you who are interested in Paul’s Monthly Tip to Live for Less in Costa Rica, we have posted them as separate articles. You can view all of them by clicking on MoneySavingTips in the “Category Tags” box in the right sidebar. As a matter of fact, you can find postings on various topics by clicking on a Category Tag. Within the Category Tags box in the sidebar, the BIGGER THE TAG NAME, THE MORE POSTS related to that category there are.

Also, if you are interested in our weather in this part of Costa Rica (San Ramon de Alajuela), we have taken the statistics from each of our monthly newsletters and posted it in one place in the following article: Our Climate in San Ramon de Alajuela, Costa Rica – Updated.

Check out our newest posts on www.retireforlessincostarica.com:

• The Businessman and the Fisherman – A Parable for Today
• Is Learning Spanish Your New Year’s Resolution?
• Stunning Views, Great Food, & Gracious Hosts – Vista Valverde Bed & Breakfast
• The Gold Card-Don’t Leave Home Without It!
• The 10 Reasons Why We Chose San Ramon de Alajuela
• The 5 Reasons Why We Still Choose San Ramon
• Rural Tranquility at Oasis By The Sea Bed & Breakfast
• Things We Love – Living Outside

That’s all for this month, but we’ll be back in touch soon!  If you enjoy our newsletter, please share it with your friends.  We hope to see you online!

Gloria & Paul Yeatman
San Ramon de Alajuela, Costa Rica

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Is Learning Spanish Your New Year’s Resolution? – How to Learn Spanish in 2012

I don’t know about you, but the goal of learning a new language is daunting. In getting ready for our move to Costa Rica, I knew that knowing some of the language would help me with the huge transition of living in another country and another culture. We read the reviews for various language learning programs and decided on Visual Link Spanish. It gave me a great working foundation of Spanish that helped me in our day-to-day lives and got me speaking in full (though short) sentences with the first lesson. Visual Link Spanish is now producing a series of instructional videos to help you learn the Spanish language, and we will feature one in each of our upcoming newsletters.

Especially for those of you who want to make 2012 the year you learn Spanish, we offer this first video:

If you would like to claim you free Visual Link Spanish lessons, click here or on the “Free Spanish Lessons” image in the top right sidebar of every page on our website.

Continue reading »]]> You may have heard this little story before, but we think it is a great reminder of the joys of a simple life well lived.

The businessman was at the pier of a small coastal Costa Rican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The businessman complimented the Tico on the quality of his fish and asked how long it took to catch them. The Tico replied only a little while.

The businessman then asked why he didn’t stay out longer and catch more fish? The Tico said he had enough to support his family’s immediate needs. The businessman then asked, but what do you do with the rest of your time? The Tico fisherman said, “I sleep late, fish a little, play with my children, take a siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos; I have a full and busy life, señor.”

The businessman scoffed, “I am a Harvard MBA and I could help you. You should spend more time fishing and with the proceeds buy a bigger boat. With the proceeds from the bigger boat you could buy several boats; eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman, you would sell directly to the processor and eventually open your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City where you would run your expanding enterprise.”

The Tico fisherman asked, “But señor, how long will this all take?” To which the businessman replied, “15-20 years.” “But what then, señor?” The businessman laughed and said, “That’s the best part! When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You would make millions.”

“Millions, señor? Then what?” The businessman said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take a siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

The fisherman, still smiling, looked up and said, “Isn’t that what I’m doing right now?”

NOTE: The author of this story is unknown, though it has been reprinted for years with some variations. I must confess that the version I used features a Mexican fisherman, which I changed to a Costa Rican (Tico) fisherman.

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Welcome to our RetireForLessInCostaRica.com Newsletter!

Paul & Gloria

In this issue:

• Is Learning Spanish Your New Year’s Resolution? – How to Learn Spanish in 2012 (Video)
• The Story of the Businessman and the Fisherman – A Parable for Today
• What’s New on the Website

Is Learning Spanish Your New Year’s Resolution? – How to Learn Spanish in 2012

I don’t know about you, but the goal of learning a new language is daunting. In getting ready for our move to Costa Rica, I knew that knowing some of the language would help me with the huge transition of living in another country and another culture. We read the reviews for various language learning programs and decided on Visual Link Spanish. It gave me a great working foundation of Spanish that helped me in our day-to-day lives and got me speaking in full (though short) sentences with the first lesson. Visual Link Spanish is now producing a series of instructional videos to help you learn the Spanish language, and we will feature one in each of our upcoming newsletters.

Especially for those of you who want to make 2012 the year you learn Spanish, we offer this first video:

If you would like to claim you free Visual Link Spanish lessons, click here or on the “Free Spanish Lessons” image in the top right sidebar of every page on our website.

The Story of the Businessman and the Fisherman – A Parable for Today

Now Shop for Books We Recommend & More
at Our New Amazon Store

Facebook, Twitter, & YouTube

You can now follow us on Facebook and Twitter, so please “like” us on Facebook, “follow” us on Twitter, and watch and share our videos on YouTube.

What’s New on the Website

For those of you who are interested in Paul’s Monthly Tip to Live for Less in Costa Rica, we have posted them as separate articles. You can view all of them by clicking on MoneySavingTips in the “Category Tags” box in the right sidebar. As a matter of fact, you can find postings on various topics by clicking on a Category Tag. Within the Category Tags box in the sidebar, the BIGGER THE TAG NAME, THE MORE POSTS related to that category there are.

Also, if you are interested in our weather in this part of Costa Rica (San Ramon de Alajuela), we have taken the statistics from each of our monthly newsletters and posted it in one place in the following article: Our Climate in San Ramon de Alajuela, Costa Rica – Updated.

Check out our newest posts on www.retireforlessincostarica.com:

• Stunning Views, Great Food, & Gracious Hosts – Vista Valverde Bed & Breakfast
• The Gold Card-Don’t Leave Home Without It!
• The 5 Reasons Why We Still Choose San Ramon
• Rural Tranquility at Oasis By The Sea Bed & Breakfast
• Things We Love – Living Outside
• The 10 Reasons Why We Chose San Ramon de Alajuela
• Our Retire for Less in Costa Rica Philosophy
• Warm, Welcoming, & Peaceful – Casa Amanecer B&B
• Less is More
• Video – Stop Thief!
• Retire for Less Tour of the Month – Tortuga Island
• Living the Expat Life
• Video – Tortuga Island Cruise

That’s all for this month, but we’ll be back in touch soon!  If you enjoy our newsletter, please share it with your friends.  We hope to see you online!

Gloria & Paul Yeatman
San Ramon de Alajuela, Costa Rica

Continue reading »]]>

In the States, one of the service businesses that’s recession-proof is beauty and barber services. Everyone needs to have their hair cut (okay, unless you’re bald) and since long hair is not the fashion, most people go to the beauty salon or barber on a regular basis. The same is true in Costa Rica. Ticos may live in a modest home, but when they walk out the door, they are clean, neat, and well-coiffed.  Beauty is very important in the culture. Most women are always styled and color-coordinated; and the guys’ hair is usually styled and gelled.

For men: I get a haircut and a beard trim about every 4-6 weeks. My barber, Jose, who works in a beauty salon, is excellent – very meticulous, thorough, and deliberate. Good grooming is important and Jose knows it. He always trims my eyebrows, the hair in my ears, and even nose-hairs. (God knows why men grow hair in all of these weird places when they get older.) And then it’s on to a very exact beard and moustache trim. He trims above the lip, below the lip, below the nose, gives my beard a great line, and grooms my cheeks with fine clippers. My hair-cut costs $3 and the beard-trim, $1, plus, there is no tipping. The price is the price. In the States, men’s haircuts cost more. I used to pay about $10 to my local barber and, unfortunately, had to change barbers three times my last year in the States. They just wouldn’t listen to what I wanted. So what is your barber’s price in the States?

For women, the savings are even greater. My wife, Gloria, gets a cut, color, and pedicure for only $32 total (haircut: $6, all-over color: $14, and pedicure for $12). Her hairdresser, Janeth, is excellent, and in my view, the best she ever had. Her style is very today. Previously, in the States, the cost for a cut, color, and pedicure in a Salon would be at least $120. We know many expats who have paid even more than that in the States.  Here, hair is really a bargain.

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Main Ropa Americana in San Ramon

Ropa Americana…need I say more? Luckily, there are Ropa Americanas located all over the country. It seems any decent sized town has one, and San Ramon has several. Ropa Americana is like a Goodwill Store in the U.S., mostly men’s, women’s, & children’s clothes, linens, purses, & stuffed animals, at cut-rate prices.  Did I say it was cheap? Most items are used, but clean, and some are new. You’ve got to shop and pick through the items, but most are sorted by size.  Like a Goodwill Store, there can be many surprises, and usually they’re good. You just never know what you’ll find.

Continue reading »]]> Buy local and avoid stores like PriceSmart, AutoMercado, and other stores that carry expensive imported products and throw your food budget out of whack.

Before coming to Costa Rica, we were thrifty food shoppers, spending a little over $400 per month. Our food budget in Costa Rica is $300 per month.  This savings can be attributed to more fruits and vegetables and buying locally. By that I mean, find the Costa Rican substitutes or equivalents for many of your favorite American foods and ingredients.  Sometimes the products are identical but the language barrier can stymie your search.

Gloria is writing a book covering just this area, with over 1000 categorized foods, cooking terms, and more, translated in English and Costa Rican Spanish. This Costa Rica shoppers’ helper will be out before Christmas.  Here’s just a small sample of what’s in the book:

If you avoid the PriceSmarts of the world, your food expenditures will decrease significantly. Not that we don’t ever visit these stores. We still go several times a year, and spend less every time because we’ve found less expensive alternatives.  Where we once spent up to $200 per visit, we now spend $30.