How to retire in Mexico

How to retire in Mexico should be on your frugal radar.

Of all the countries that Americans and Canadians should consider for frugal retirement living, it is Mexico.

Why?

Everyone in real estate will tell you that the three most important considerations in their industry is...

 
Location, location, location

It is a surprise to most folks of how close, and how small, Mexico is in comparison with the US.  

The US is 5 times as big, in area, as Mexico.  It is less than 600 miles from Guadalajara to Brownsville Texas.


The roads are not near as bad as you might think or have heard.

One couple spent three years pulling their travel trailer, looking for the perfect place to retire in Mexico.

If returning "home" quickly is an issue it shouldn't be. Airline service is cheap and quick to the US and Canada from Mexico.

How to retire in Mexico and do it cheaply

It depends on where you want to retire. The tourist towns, Puerto Vallarta, Acapulco, Cancun are going to be the most expensive. They have economies geared to tourism and everything in a tourist town is going to be more expensive than a town "off the beaten path".

On the other end of the spectrum would be a small village with not many ex-pats, gringos, etc. You won't find a Marriott and you may find very few English speakers. This where the living is the cheapest.

Remember the average Mexican family lives on $500 a month or less, and their families tend to be large.  I am not saying you want to live on $500 a month, but it is done every day.

The one glaring difference in these two extremes is the ability to speak Spanish...

If you do speak Spanish, you will not be limited in your choice of location or how much you spend. If you don't and feel more comfortable being surrounded by Americans and or Canadians, you will gravitate to the towns with a large gringo community...Lake Chapala, San Miguel de Allende, Merida.


Here is an shot overlooking San Miguel de Allende, a very popular spot for frugal retirees.

In year round spring like temperatures you can enjoy art, culture in one of Mexico's premier colonial cities.

It's your choice...speaking Spanish is not necessary here...and you would have lots of Americans to hang with if that is your choice.
 
However, if kicking back on the beach is more your style, and you speak Spanish...a sleepy fishing village will offer you an answer of how to retire in Mexico.

By speaking Spanish I don't mean perfect by any stretch...we proved that by living in Venezuela...right attitude you will be understood, no problem.
 
How to retire in Mexico and relax
 
One thing that will become apparent retiring in Mexico is the way the Mexicans enjoy life. They don't have much, don't spend much, but you will like them immensely.

 It is like living in the US 50 years ago. Strong family values and ties are the centerpiece of Mexican life. It is a slower pace for sure, but isn't that what retirement should be anyway?

Bet you didn't know

You are three times more likely to be a crime victim in the US vs Mexico...
that is a fact, the border towns do have a lot of drug related problems now, kind of like Detroit, LA, and say Chicago... you are 3 times safer living in Mexico.

The Mexican economy is now the 12th largest in the world, recently passing Canada. The Mexican middle class is growing at a very fast rate.

There are currently in Mexico 98 Walmarts and 31 Costcos. These companies are not fools. If there was not a viable market for their goods they would not be here.

In 2009 the Mexican government embarked on a $250 billion infrastructure program to improve roads, airports and seaports.

First visit, then rent, do not buy right away

To be prudent about how to retire in Mexico, first plan a trip to where you think you might want to go. Whether or not you need the company of familiar faces will usually determine where.

Then get an apartment, not a hotel, and live like you would everyday...do laundry, do dishes, go to the bank, have coffee in the morning with the locals. And ask as many questions as you can from people who live there now...their likes, their dislikes...get informed.

Lastly, do not buy right away, always rent first. It is the prudent thing to do. After a several months in Mexico, and you are sure it is for you, then think about buying a home. You will have acquired a lot of knowledge about the area, met some realtors, etc.

Enjoy Mexico and frugal retirement living.

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