RETIRING TO MEXICO
WILLYSGOTAWOMAN
New Jersey
Anyone think of retiring to Mexico? In Northern NJ I'm still a decade a way. But it sounds like in Mexico I'd be wealthy right now.
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Anyone think of retiring to Mexico? In Northern NJ I'm still a decade a way. But it sounds like in Mexico I'd be wealthy right now.
41 comments
I will play along and answer your question.
Q: Anyone think of retiring to Mexico?
A: I discussed this possibility with a colleague professor who is closer to retirement than me, and jokingly told him, ok you should retire to San Miguel de Allende, Guanajuato, Mexico, so when I retire there will be someone there to welcome me, show me around and help me to retire there too...
These are a couple of places that seem good to retire.
“Why foreign retirees are flocking to Mexico?”
PBS NewsHour1,208,880 viewsJul 6, 2015
In Mexico, seniors are traditionally cared for in the homes of relatives. But a boom of foreign retirees, many of them Americans, have begun moving to Mexico to live out their years, paying much less for independent and assisted living than in other countries.
https://m.youtube.com/watch?v=vjAet-Af19…
“Another one of the country’s hidden charms can be found in its interior, about four-hour’s drive northwest of the capital, Mexico City. The town is called San Miguel de Allende, and it’s located in the Colonial Highlands region. It offers a lot of benefits: temperate climate, low cost of living, an active expat community, welcoming locals, charming local cultural traditions, and a focus on the arts.”
Be permanent resident with their universal healthcare.
https://www.nbcnews.com/news/world/ameri…
Other places in Latin America to look into
if you get robbed you then would call the police. once they show up, guess what? the cops rob from you whatever is left over.
TL;DR if your budget is $1,500 a month, you'd likely be happier living on that in Mexico. If your budget is $3,000 a month or higher, it's a complicated trade off. You could probably could keep company with a beautiful woman or two, who'd be very happy to have you in their lives. But the negative trade offs would be in quality of healthcare, security, and many relatively small conveniences we generally take for granted in the US.
Security is better in Chile and Uruguay, but a very long trip every time you want to visit the US. Costa Rica is closer, less secure, but generally more secure than Mexico. Belize is supposed to be good if you want to get by without learning Spanish, but similar security problems to Mexico I think.
There’s lots of expat American communities around the world – Mexico probably has the most given its proximity – Panama has been popular for 2-decades+ but b/c of this it’s not as cheap as it once was although still cheaper than comparable housing/accommodations in the U.S. and your dollar still goes further in Panama and they actually use the U.S. dollar as their currency I believe.
Costa Rica, Colombia (particularly Medellin), Dominican Republic, are other low(er) COL places w/ American expat communities.
As other have said; those are different cultures that often march to a different drum – so along w/ a lower COL there is usually a lower QOL also – it depends on one’s personality and ability to adapt; and also one’s health – i.e. if one’s health is not very-good one is probably better-off staying in the states – but some of those cities do have good health service (e.g. Medellin; etc); and living in a place like Tijuana for example you are steps from San Diego and everything a well-off city like SD has to offer including good health care.
There’s lots of YouTube videos about this – you can just search for “Expat living in ‘X’” (X being the country or more precisely particular city).
~ Rosemary Greyson
~ First British Playboy Centerfold October 1964
~ Retired in Lakeside, Chapala Mexico since 2012
I will play along and answer your question.
Q: What can't you get in Mexico that you can get in the US?
A: You can enjoy better weather, a more relaxed lifestyle, and a host of other benefits—including affordable top-quality health care and a much lower overall cost of living.
And a tight-knit expatriate community provides all manner of comfortable amenities and support to retirees...
Have you ever been to Mexico ? As a tourist or on a business trip ? If so, what did you see while you were there that made you think you'd want to pack up and leave USA to live there ?
Tax avoidance ? If you're keeping US citizenship but living in Mexico, you could only spend 15 days a year in USA. Are you willing to be far away from family/friends just to save some $$ and maybe find a nice young senorita ?
Do you value freedom of mobility that your own automobile has provided for so many decades in good ole USA ? Have you checked into auto insurance rates down there, or even if you can be insured at all ?
You still have time, if you're serious beyond the initial lark stage, I'd take an extended vacation there, and check out how extended day to day living (2 week stay or more) works out for you. That means driving around different towns there. PM shadowcat, he took several trips into Mexico when he still lived in So Cal.
Kamala Harris was charged with finding the “root cause” of illegal immigration from Mexico and Central American countries - and she found it ! :
Turns out the “root cause” is the United States is a better place to live than those countries.
A: Clean drinking water, straight out of the faucet.
According to the internet, the avg social security payment is ~$1500/month – and the average 401K balance for a person 65+ is $216K and the mean is $65K – it is not uncommon for the average worker to often live paycheck to paycheck, even if they make a good salary, and often not be prepared w/ a good nest-egg in retirement – given this, living overseas in a lower COL location for many can mean living in a place where they can either have all their basic needs met w/ just their SS-benefit or actually live a more comfortable life than they would o/w be able to in the U.S. given their retirement savings/income level.
If you're retired and don't have financial worries, then it's a lot easier to think there's no reason to move overseas - but a lot of people are not in that boat and life in the U.S. is getting more expensive each day.
Different mind set than the average social security benefactor.
If you're not worried about travel time and costs I gotta believe there are much better options (i.e. Thailand or Philippines, or pretty much anywhere in SE Asia). Not sure about the economics of living in Greece, Italy, Spain or Portugal, but I sure rather be there than Mexico too.