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More than 125,000 readers throughout Greater Baltimore
Retiring south of the border
I N S I D E …
I N N OVAT I O N S
Tech tools that ease travel; plus, online investment advisors, and protecting yourself with better passwords page 4
Paul and Gloria Yeatman retired to Costa Rica in 2009, where they enjoy the low cost of living and mild temperatures. The number of older Americans moving to other countries has more than doubled since 2002.
Not a bit homesick Do they miss life in Baltimore? Let’s put it this way: Other than returning earlier this year to sell their home, they haven’t been back here since they moved about five years ago. The Yeatmans admit that they are relatively unencumbered, having neither children nor grandchildren. They do each have a sister and numerous friends, though. But one of Costa Rica’s attractions is that it’s only a 2-1/2 hour flight from Miami and another couple of hours to fly from Miami to Baltimore. They can get home quickly if they need to, and they’re not too far away for visitors to come to them. So enamored are they of their lifestyle there, they have recently applied for permanent residency — which does not entail
NOVEMBER 2014
PHOTO COURTESY OF PAUL AND GLORIA YEATMAN
By Carol Sorgen With a 10-year age difference between them, Paul and Gloria Yeatman decided that retirement should be on their radar earlier rather than later. “We’ve been together for 13 years, and early in our relationship we talked about retiring early,” said Paul, 68. But they realized his post-retirement income alone wouldn’t cover all of their expenses, and Gloria would have to wait a decade longer than Paul to qualify for Social Security. So they turned their sights from their Northeastern Baltimore County home in Nottingham to more far-flung options. Their top priority was saving money on heating and air conditioning, which right away would knock $300 to $400 off their monthly expenses. Paul had been fascinated with Latin America since he was a teenager and attended college in Mexico, and Gloria fell in love with that country on their honeymoon. They strongly considered relocating to Mexico, but concerns about crime and drug culture made them apprehensive. Looking for an alternative, Gloria recalled how taken she had been with Costa Rica when she attended a conference there in 1996. So after two years of research — and four visits to make sure they were making the right choice — the Yeatmans rented out their house, packed 10 suitcases, two laptops and one cat, and moved to Costa Rica.
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forfeiting their American citizenship. Furthermore, Paul offers “Retire for Less in Costa Rica” tours to other prospective expats. And Gloria is a contributor to InternationalLiving.com which, first in print and later additionally online, has been helping people move abroad for more than 30 years. The Yeatmans said, “We consistently live on less than $2,000 a month here.” In addition to spending far less to live than they would back in Baltimore, they love the climate — 60 to 80 degrees, with no need for heat or air conditioning — learning a new culture, and the easy pace of life. They also appreciate the fact that Costa Rica has been a stable democracy since 1821, and there is no anti-American sentiment. (On the other hand, Paul wishes
some of his fellow American expats would be less “ethnocentric.” “We’re visitors in their country!” he noted.) Which is not to say there aren’t things they miss. “I miss theater,” said Paul. “And I miss Trader Joe’s!” added Gloria. And they both miss their weekly dinners at their favorite Chinese restaurant in Lutherville. Some people might think the Yeatmans are living in paradise, but they are quick to dispel that notion. “You have to build your life here just as you would anywhere else, even in Baltimore,” Paul said. “The beginning is the hardest part, but if you have a sense of humor, are flexible and can go with the flow, you’ll live a pretty See RETIRING ABROAD, page 21
L E I S U R E & T R AV E L
Cancun offers resort life and fascinating Mayan ruins; plus, Civil War sites for recreation and contemplation page 23
FITNESS & HEALTH k You may need more protein k What’s new with flu shots?
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LAW & MONEY k Time to ditch stocks? k Mutual funds falter
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ARTS & STYLE k New Hippodrome classes k An unsung Baltimore hero
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PLUS CROSSWORD, BEACON BITS, CLASSIFIEDS & MORE