February 8, 2010

What do I need to retire in Mexico?

sln asked:


I want to start planning my semi retirement, planning on 2012, what will I need to do to have everything ready by then?

Jada
Permalink Print

Comments on What do I need to retire in Mexico?

February 9, 2010

Andrew S @ 3:24 am

Jon

Start collecting guns now if I were you.

dipstick @ 2:39 pm

Felipe

Well, learn Mexican, how to build a bullet-proof house, how to shoot a semi-automatic rifle and pistol, and how to survive in a country that is in a civil war that will never end.

Other than that, should be pretty easy.

February 12, 2010

rhino72032 @ 8:01 pm

Finley

Read some books like:
Head for Mexico: The Renegade Guide by Don Adams
The Plain Truth About Living in Mexico: The Expatriate’s Guide to Moving, Retiring, or Just Hanging Out by Doug Bower
Living Abroad in Mexico by Ken Luboff

Then to get a FM-3 (retiree) visa, you’ll have to show $1300 monthly income from Social Security and IRAs.
Make as many trips to Mexico as you can. There are 31 states and each is a little different. You can narrow your search some be deciding whether you want to be by the shore or in the mountains,
Search in Google for “full immersion spanish guadalajara” (or just about any other city) to take lessons to improve your Spanish.

February 14, 2010

Alexander @ 1:57 am

Lacey

Ok is so stupid to say that you should collect guns if you move to mexico, then if I move to USA should I be worry because in the schools there are children who kill people??? or should I carry my parachute because probably another World Trade center will be attacked?
Think and please be informed to answer this kind of questions. The media is not always right!!!!

Answering this question:
Only you need to be prepared to face a totally new culture, new language, new people.
You will learn a lot ¡¡¡¡¡ You will like it¡¡¡¡
The people is so friendly, warm, you will discover new landscapes, towns, beaches, ruins….
Best wishes.

February 17, 2010

Mich @ 2:04 am

Jamir

I moved to Cancun when I was 23, bought real estate on the beach with money I inherited (75,000 Canadian) .
Worked part time (4 hours a day) in the resorts that surround my home.
And at 38 my husband and I travel the world and quietly enjoy the peaceful life in Cancun.
Mexico is much quieter and easy going and there is less crime than in the USA so we feel very safe here. In fact, in the 14 years we have been here I took the bus every single night home at 1130pm from the party center area (where the 5 diamond hotel was where I worked on this tiny island) and never ever had a problem
We are surrounded by tourists, and the Mayan people are very quiet.

I know you must have looked on the internet for the best places to retire or had friends that retired here.
Do it…..you buy a condo (there is one for sale now for 125,000) and then you live on the beach in a resort forever.
It is so easy.
Our property tax is 100usd a year and we have no debt because Mexico did not model itself after the USA….everyone is happy here!
In other words, all you need is a good attitude,come, and it all works itself out. Bring enough money to cash out a property…at 125,000 ish.

February 18, 2010

sloopy @ 7:51 am

Donovan

New regulations require an address to apply for an FM-3, Residente Immigrante. So you’ll have to establish some sort of residence and then be able to prove you live there (i.e. rent receipts, electric and water bills, etc.) Besides that you’ll need six months bank statements showing income of $1,000 for yourself and $500 a month for your spouse. Few other minor things and you’re o.k. Get detailed info on website for Mexican Consulate near you.
Drug violence is generally near border towns and in certain states (i.e, Baja North, Sinoloa, Sonoroa, etc).
Baja South, Nayarit, Jalisco are pretty nice areas. We drive down to Puerto Vallarta once a year and stay about 3-4 mos. Nuevo Vallarta, just north of the PV airport is nice as are many other areas near there.
Learn some Spanish..it’s not too hard. The culture is quite different so if you are able to go with the flow, have lots of patience and just want to enjoy life, there are several places to live in or near by. Your choice of mountains, plains or seashore areas will obviously decide where you may want to live. Several areas have large American/Canadian ex-pat populations so check the many websites available for info from those that actually live there year round.
We started a checking account with (now a CitiBank) in L.A. and then opened one at a Banamex bank in Puerto Vallarta. That way we simply transfer (free) any US dollars we need while we are there to our Mexican bank account.
Your FM-3 is good for a year and can be renewed locally in most large cities. After five years you can get a permanent visa.
Make friends as locals are the best source for mechanics, markets, shopping, places to se and visit, etc.
If you don’t maintain a US health plan they have IMSS which is o.k. but depending on your situation a cash nestegg for emergencies could do as well. Guadalajara has excellent medical facilities and doctors, for example. Or you can obtain International Health Care plans from an outfit in England…designed for ex-pats from various countires that live all over the world.
Check out Sayulita, Bucerias, Nuevo Vallarta, La Paz, Mazatlan, Puerto Vallarta (all near the sea) or Ajijic, Lake Chapala area, Mescota Valley for inland places.
I’m not familiar with eastern or southern Mexico so can’t really comment.
Personally, I love Baja South but the Puerto Vallarta area is where we plan on living for our retirement later this year.

This site is for information purposes only. You should always seek qualified advice for your retirement planning.