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I am wondering how many forum members are concerned about their future in Costa Rica, especially those pensioners/those retired from investments/social security etc. concerning the upcoming economic situation! Am I the only one? It appears that people are very reluctant to discuss this issue. This morning I got a disturbing E-mail from my "old lady" (Who I haven't seen for over 10 years) concerning persons that I new years ago that seem to have lost their minds! Any coomments or personal messages would be highly appreciated........... Respectfully

 

 

 

 

 

[ This topic moved to Open Forum to facilitate wider discussion. -Moderator ]

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newman: I've thought about what changes might happen to my Social Security benefits that I depend on to live and how I would cope with that. It really isn't a big deal for me because I live a very simple life and if my benefits were cut, I would just go and live with friends or on their property.

 

There's really nothing we can do about the economic situation, other than expressing our concerns to our lawmakers and I, for one, just don't spend any time worrying about it.

 

You can fret over it and read all about it or whatever, but it will only make you feel bad and not change anything. I would think the most constructive thing you could do is have as big a nest egg as you can in the form of savings of some sort and make sure your lifestyle could be cut back if necessary.

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The Costa Rican Central Bank has forcast rapidly increasing prices (inflation) for all of 2013 - how do social security recipients and pensioners (on fixed income) plan to counteract the increasing cost of living? Any ideas from anyone on how to combat this please feel free to discuss them with other forum members.........

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newman: I've thought about what changes might happen to my Social Security benefits that I depend on to live and how I would cope with that. ...

 

Well that has been a concern of mine, too, but so far, so good. What I don't like is the penchant in Washington DC of our elected officials referring to our Social Security pensions as 'entitlements'!

They are simply not 'entitlements' of any sort; I paid for my SSA pension during all my working years. If there is any shortfall in the SSA fund it is because the US Govt repeatedly dipped its greedy finger into that cookie jar and left IOUs which were never repaid!

 

There's really nothing we can do about the economic situation, other than expressing our concerns to our lawmakers and I, for one, just don't spend any time worrying about it.

 

And of course therein lies the rub: All we gringos whether at home or abroad need to be writing to our elected officials to instruct them on what we want them to do on our collective behalf rather than whatever it is that is their (not our) agenda. Unfortunately only a very small percentage will ever write so things continue status quo for those in DC! (sigh)

 

Cheers, Anyway!

 

Paul M.

==

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I have SS disability benefits - not worried about them ending/being reduced, but it sure is it a beating to watch the Congress and Senate debate the issue over and over. As for CR inflation: that is a serious concern to me. I read a link (assume the same one as newman) on how gas prices, utility prices, etc. will increase dramatically in 2013 across Costa Rica. Clearly a huge burden to the citizens/expats.

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The Costa Rican Central Bank has forcast rapidly increasing prices (inflation) for all of 2013 - how do social security recipients and pensioners (on fixed income) plan to counteract the increasing cost of living? Any ideas from anyone on how to combat this please feel free to discuss them with other forum members.........

 

Personally I think the best way to offset inflation in CR is to put as much money as you are willing to into colones. 6 month CDs are earning well above the rate of inflation. The CDs can help hedge against inflation in CR and, if you also have income in $ (social security), that will help to hedge against any major issues with the colon.I realize that you have to take hit to convert, but at 10% interest the cost of conversion is covered pretty rapidly. And if your going to be living in CR, you need the colones anyway.

 

I think the other, and probably more important, strategy has already been mentioned by Eleanor -- live well within you means and make friends.

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I am wondering how many forum members are concerned about their future in Costa Rica, especially those pensioners/those retired from investments/social security etc. concerning the upcoming economic situation! Am I the only one? It appears that people are very reluctant to discuss this issue. This morning I got a disturbing E-mail from my "old lady" (Who I haven't seen for over 10 years) concerning persons that I new years ago that seem to have lost their minds! Any coomments or personal messages would be highly appreciated........... Respectfully

 

Two things to consider is if no one does anything the worst that can happen to SS is that payment go to 75% of what was promised so there won't be a bankruptcy. Any improvement at all will move us closer to 100%. Second, is in a few years a majority?? of the voters will be near SS eligible and I can do see politicians going against those odds or the majority supporting reductions. Personally, I am more afraid of senior citizens using their voting power to increase their benefits at the expense of the younger generation leaving them with an even more bankrupt country.

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The Costa Rican Central Bank has forcast rapidly increasing prices (inflation) for all of 2013 - how do social security recipients and pensioners (on fixed income) plan to counteract the increasing cost of living? Any ideas from anyone on how to combat this please feel free to discuss them with other forum members.........

 

We have gotten out from under all of our old US debt finally - made our last credit card and loan payment in Sept. So our expenses are now much reduced, and we can start saving a little, and with watching out budget carefully, we should be able to get by.

 

But I think that is the biggest thing someone retiring should do: Pay off all your debts like credit cards and STOP USING THEM.

Especially if you are planning retirement on a fixed income. Use the CC only if you really have to, such as for car rentals in the US, if they will not accept your debt card for payment (only a few will). Oh, and pay it off immediately.

But for everything else, we now only use a debit card.

 

Dana

Edited by DanaJ

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