About Affordable Retirement in Mexico

Affordable retirement in Mexico is largely about location. Living resort-style in Bucerias is going to cost far more than finding a small beach house in Puerto Angel. Buying a split level house ensconced amongst other expatriates in Lake Chapala is pricier than going condo in Cuernavaca. With a little research, you can find a clean, safe and lovely spot without breaking the bank.

Types

There are all types of retirement to Mexico. There is the working retirement, where you maintain a consultant's role or find a part-time job teaching English in Mexico. There is the snowbird's retirement, where you escape to Mexico's warmer climes during the bitter winter months up north. Then there is the full-on, expatriate retirement, where you apply for the legal right to live in Mexico year-round without working. For this last type, you will need to meet minimum income requirements as specified by the Mexican Consulate.

Geography

Affordable retirement to Mexico means choosing carefully. The advantage of living near the border is that you can pop over to the United States for visits, paperwork issues or even shopping trips. The disadvantage is the increased level of crime in many border towns and the higher prices for some goods and services. Beach living can be outrageously expensive if you want a luxury house and the fuel to air-condition it. A small-town beach will have more affordable but less elegant options. Central colonial Mexico is popular for expatriates, particularly San Miguel de Allende, "the San Francisco of Mexico", which has San Francisco prices to match. Nearby Guanajuato is charming and far more affordable. Popular expatriate regions such as Guadalajara, Mexico City, Todos Santos and Merida have ballooned in cost but still have many pockets of affordable places. Further south, Oaxaca and Chiapas have lower prices but are more expensive for frequent travelers.

Benefits

The benefits of affordable retirement in Mexico extend beyond its price tag. Many expatriates cite a more relaxed lifestyle, a family-oriented culture, a less consumerist environment, a fascinating cultural life and year-round beautiful climate as some of Mexico's main enticements. Depending upon your lifestyle, you may be able to get by in Mexico on Social Security benefits.

Considerations

There are some extra costs to consider when planning affordable retirement in Mexico. Transporting your family heirlooms and appliances is prohibitively expensive. Most people recommend selling what you can bear to part with and starting fresh in Mexico. Others buy a van and drive the whole thing down, which requires permits. Health care is cheap but not free as it is in Canada and Europe, and Medicare benefits do not cover care in Mexico. Visas and other permits will be an annual cost. You will have to pay for yearly travel to visit loved ones you left behind. Purified water is a must and thus an additional expense.

Misconceptions

The United States media would have everyone alarmed about safety in Mexico. However, many parts of Mexico are just as safe as, if not safer than, many parts of the United States. Recent State Department warnings about kidnappings and crimes associated with drug trafficking are not to be taken lightly, but Mexico is a big country and it is relatively easy to stay out of trouble.