Retiring in Mexico; What To Know
Mexico Retirement News - Baby Boomers are getting into their golden years, and many active seniors are considering retiring abroad in Mexico. Mexico offers a warm climate, low-cost healthcare, beach communities, and exciting activity options that have already attracted 450,000 American expats. If your career is coming to an end, it’s time to start learning about living in Mexico.
To live in Mexico legally, you will need to gather proof of financial stability and show it to immigration. Retirement funds, pensions, and social security reports will do. There is no official amount you will need to prove, as it is looked at on a case-by-case basis.
A recommendation is $1,500 per month, plus $500 for each additional person moving with you. If you own a home in Mexico the amount will be much less. The prospect of rental income is often enough.
Many Americans settle near the beach on the Yucatan Peninsula or on the Pacific Coast near the California border. Sports lovers enjoy Baja California. Others prefer living in the desert but near warm seas, like the Sea of Cortes. Highways go directly there from the States.
There are no import taxes when you bring your car. Acapulco is another fabulous choice because it’s near shops, resorts, and medical facilities.
Retiring in Mexico is much less expensive than in the United States. Without insurance, an overnight hospital stay is $35. There is a universal healthcare program and a variety of private insurances you can choose from. For those hoping for a luxurious retirement that doesn’t drain your savings, Mexico is the place to make the dream come true.