5 Things To Know Before You Retire In Mexico
5 Things To Know Before You Retire In Mexico
It is a dream that is shared by many. The idea of retiring in Mexico appeals to thousands. There are plenty of reasons to consider before you retire in Mexico. People who are retiring may think that they can easily embrace the excitement that comes when moving to a foreign country. Some may want to enjoy retirement at one of the beach resort areas while others may desire another Mexican community to live in.
There are many benefits to retirement in Mexico. Before you make the final decision and leave your native country behind, it is a good idea to learn a few things about what this decision really means. Here are 5 things to know before you retire in Mexico.
1. You Are Not Alone When You Retire in Mexico…
The first thing that you will find out is that retiring to Mexico is not a new idea. It is actually one of the most popular places for American expats to choose when they retire. There are over 600,000 Americans living in Mexico. That is the largest number of Americans in any foreign country around the world. That means there are plenty of resources for you to call on when you make your move to retire in Mexico.
2. Rent Before You Buy Mexico Real Estate
Moving to Mexico does not mean that you need to buy Mexico real estate right away. In fact, it is better to rent the property before you decide to buy anything. This will give you time to find the neighborhood that you want to live in and to get accustomed to life in Mexico. It will also allow you to figure out how far your money will go to Mexico. It is possible that living in Mexico will be less expensive than you imagined. There are some resort communities where prices are higher, but there are also many communities where the cost of living is lower. You can find places to rent for $400 to $800 a month in many parts of Mexico. Dining out for dinner can cost around $30 and a Doctor’s appointment will run around $30. Take the time to learn the expenses for your basic needs in the area that you are moving to before you go and create a budget you can live with. Read more about the process of renting real estate in Mexico.
3. Crime Is Not Everywhere
There are stories about the crime problems in Mexico and the stories of Mexican jails that can be very scary. Border towns where drugs are a common problem, but the communities that most people are retiring to are actually safer than the communities in the United States. Like anywhere, it is always best to have safe practices to avoid being a victim of crime.
4. Learn The Language To Enjoy Your Mexico Retirement
The different languages may scare many people from retiring in Mexico. It should not be a barrier. The large number of people that retire in Mexico makes it easier to communicate. It is a very good idea to learn the local language, but you can start slowly and still function until you get a better grasp of the Spanish language that is used in Mexico.
My friend Olly Richards has one of the best language learning platforms on the planet. Reach out to him at ICanTeachYouALanguage. He does several with Spanish being his #1 course.
5. Know Your Mexico Health Care Options
In the United States, people look forward to getting Medicare health insurance when they retire. This may not help much if they retire in Mexico. Instead, they will have to purchase health insurance that can be used there.
Fortunately, the cost of this insurance can be around $300 a year and the quality of care is very good. Just like you would in the United States, take the time to find a doctor you trust and that you feel comfortable with to get the health care that you want.
Additionally, you can purchase health insurance in Mexico for Expats – we have a good company that we recommend that is backed by Lloyd’s of London.
Conclusion
It is a good idea to learn what to expect when you retire in Mexico before you go, but you can continue to learn after you move. There is never a time when a person is too old to learn and experience new things and retiring to Mexico is an opportunity to do that.
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