Retiring to Mexico is is an option that should be considered if you are ready to retire. The current economy is not the best and those getting to retirement age may feel retiring won’t happen for them. Let’s look at options that require less money to retire.
You can still retire on less if you take a look at moving out of the country. There are several countries that offer frugal and fun retirement lifestyles within a few hours flying time of the US. Let’s take a look at a country we are all familiar with… Mexico.
There could not be a better time to buy property in Mexico due to the peso being down 30% to the dollar. Simply put if a home cost $100,000 a year ago you could buy it now for $70,000. Depending on location and whether or not you speak Spanish you can rent apartments and houses for $500 a month.
How about health care? After you have lived there for a year you can sign up for the national health insurance plan… $270 a year, that’s right a year not a month. This will cover just about everything including hospital stays. That’s frugal retirement living.
In total you should be able to live quite nicely for $1500 to $2000 a month… depending on location, location, location. That’s a Social Security check for a lot of us. This includes eating out quite a bit and having a maid come in several days a week.
Not speaking Spanish is not as big a deal as you might think, in the larger cities and in the expat compounds you will be fine with English only. If you want to live in a smaller more remote village, where it is really cheap to live, you should be familiar with Spanish. Having said that it is just polite to make an attempt to learn Spanish. The locals will appreciate you so much more if you make the effort to speak their language.
So if the economy has got you down and you think you can’t retire… take a look at retiring to Mexico. Enjoy.
Retiring to Mexico Where it Costs Less to Live
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