Important Things to Consider When Retiring in Mexico
Retirement is looming large! What’s the best way to approach it? Obviously, the basics must be dealt with – finances, healthcare, and “what do I do with all that time.”
Presumably, you’ve got things you’d like to do with your new abundance of time – spend it with the grandkids, travel and see some of the places that you haven’t gotten to yet, learn a new __________ (fill in the blank: language, skill, sport, craft, culture . . .), devote more time to your hobby, share your skills and experience, or perhaps, you’d just like to “veg” for a bit before getting serious about retirement.
The foremost concern has to be your financial situation. Although, many people have had a retirement plan in place for years, in the past decade the foibles of the economy and the all-too-human plan managers have diminished, if not totally decimated, too many of those plans. Don’t let the recent economic upheaval ruin your retirement. There are options available.
If you haven’t done it yet, check out our budgeting tools, the Cost of Living Chart and the two interactive budget forms, the Estimate Budget Form and the Budget Planner Form on the Budget Forms page. But, bear in mind that the budgeting process using our forms does not include insurance protection of any kind, nor does it include any regular monthly payments (credit card, auto loan, mortgage), so you will have to factor them into your personalized budget using our “beginning” budget as a starting point.
Obviously, healthcare, car, and home (or renter’s) insurance is very important. If you’d like information specific to your situation, you can check with our friends at www.AmericanInsuranceforExpats.com, who specialize in all kinds of insurance for expats, to see what kind of coverage you can get and for how much. Maybe, you’d like a passive approach to making some additional money.
Articles on Mexico retirement
Five Reasons To Visit Mexico In The Off-SeasonThis time of year many so called snowbirds make their way north to spend the Summer and Fall months North of the border. These are the part time expats that have chosen to live part of the year in Mexico and the remaining time back home, essentially following the good weather, like “snowbirds.” This is […]
Listen To A Podcast On Mexico Featuring Ron BurdineClick This link to listen to the interview now! Also, you can click here to download from iTunes to your device! Get the story from the man himself! Our founder, Ron Burdine was recently featured on the podcast “Choose to Retire in Mexico” with George Puckett. Choose to Retire in Mexico is a podcast that […]
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Filing U.S. Taxes as an ExpatriateWe do not give out specific tax advice but we do recommend using a tax accountant familiar with international tax laws. As a U.S. expatriate, you are responsible for filing your U.S. taxes even if you have a $0.00 filing. This holds true if you are a retired expatriate as well. As long as your […]
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Medicare and International TravelWhen Medicare was originally drafted, international travel was not as prevalent as it is today, and was not drafted into the plan. Today, many more seniors travel internationally, and limited coverage has been drafted into the Medigap policies of C,D,E,F,G,H,I and J. Medicare supplement plans include a specific benefit for Emergency Foreign Travel. However, […]
How Dangerous is Living in Mexico?If you listen to all the news headlines about Mexico’s drug war you might believe the whole country is a drug war zone; then again you probably wouldn’t be reading this, so congratulations on over coming the negative press and doing your own research on Mexico safety! You are smarter than the average person and […]
Buying Real Estate in MexicoBefore you decide you want to buy property in Mexico, we strongly suggest you try renting in your destination of choice and you may want to try a few different areas before you decide where to settle down. Renting a place first is always a good idea. What you are expecting and the reality of life […]