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I'm not sure I fully comprehend your meaning when asking "is it feasible?"
Of course its feasible. People move all over the world, at all ages, every day.
I'll try to narrow it down for you. Personal feasibility depends on three things:
1. Money saved and income in-country to support your move/set up costs and you and your families' lifestyle once you are there. There are a thousand different approaches to this.
2. Your ability to secure a live/work visa. Do your research as to whether you can qualify to legally live and work in country. In mexico, visas are fairly easy.
3. Your psychology.
How will you handle living in a foreign country after the honeymoon period has abated?
How will you handle being a minority?
How will you handle being away from family and friends?
How will you handle having limited communication ability with the natives, on both a language and cultural level?
Granted, the location and culture of Mexico make all of these considerations easier on Americans that most other foreign countries, but they are still issues. You will learn a lot about yourself when living abroad. For some people, its an ideal adventure and lifelong dream in the beginning, but they soon realize what they had and miss at home and they get it out of their system with a short stint away. In most ways, the USA is one of the easiest countries in the world, if not the easiest, in which to live. Its almost too easy. You have to be ready to deal with the higher level of adversity that a foreign country will throw at you on a consistent basis. Much of this will be simply due to the fact that you are a foreigner.
Maybe feasible was not the right word since people do do this on a daily basis. It is just that you always hear about Mexicans seeking coming to the U.S. to live but never about Americans going down there. I really was not sure how difficult the move is and how easily the Mexican government allows this to happen.
As far as your three points go. First, I am looking into the money and income issue. I am hopeful about timeshare sales and it sounds like I could make enough to support my family from that alone. The average salary for a salesmen in their first year is about 45K USD and more experienced sales reps average about 80K USD.
I have a lawyer friend researching the visa issue.
I am not concerned about my psychology. I can handle being away from my family, the language barrier, and all that. It is my wife and kids that I worry about and I plan on discussing this in detail to ensure this will not be an issue. My wife is close to fluent in Spanish so that should help her deal with the language barrier.
Location: where the moss is taking over the villages
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I had a friend at one time who was going to retire in Mexico. She said she had to bring proof of her non-criminal record, proof of lots of money in the bank. And she said she could only lease land there, not really own it - and it had to be paid for in CASH. To bring guns, they dismantle them & smuggle them in.
My impression is that it is a hostile land for Americans if anything goes down...
I had a friend at one time who was going to retire in Mexico. She said she had to bring proof of her non-criminal record, proof of lots of money in the bank. And she said she could only lease land there, not really own it - and it had to be paid for in CASH. To bring guns, they dismantle them & smuggle them in.
My impression is that it is a hostile land for Americans if anything goes down...
Kate
That is misinformation. Here is what I know from my research...someone correct me if I'm wrong.
If you are trying to get a residency visa, you do have to have proof that you can support yourself while living there (i.e. money in the bank, a source of income outside of Mexico like a job or pension) so that you do not take jobs away from Mexican citizens.
Yes, from what I've read, you don't really own land unless you are a Mexican citizen. In other words, when you die you can't pass it down. But while you are alive, it's "yours".
Guns are illegal in Mexico, period. No matter who you are or where you come from.
None of these things are "hostile", it's just the law. And that's for all foreigners, not just Americans.
Guns are illegal in Mexico, period. No matter who you are or where you come from.
This may be part of the problem in Mexico (if anyone wants to start another thread on this subject, i'd be posting like crazy). The only people who have guns in Mexico are the cartels and the criminals... decent people are prohibited from owning guns for their own protection. this leaves the majority of people in Mexico as sitting ducks to criminals, crooked cops, etc.
Just wanted to note that you *can* own titled land through a bank trust for a pre-determined period of time (with renewals built in) and you can pass it down to your children. (This is in the coastal areas - farther inland you can buy outright from what we've been told) We've bought several properties through the years and naming your heirs is part and parcel of all the immense amount of legal paperwork done by a Notario.
You can own land outright in Mexico unless it's in the restricted zone along the beach or border. The land also has to be normalized (removed from Ejido). Most cities and large towns got rid of the Ejido long ago .... altho the surrounding country side still may be (Ejido land is community owned)
I went on a city tour while in Mazatlan and they indicated that certain houses and land had stipulations such as not actually owning the land. Their are also certain houses that have historical protection and you cannot make any changes to the exterior.
Maybe feasible was not the right word since people do do this on a daily basis. It is just that you always hear about Mexicans seeking coming to the U.S. to live but never about Americans going down there. I really was not sure how difficult the move is and how easily the Mexican government allows this to happen.
As far as your three points go. First, I am looking into the money and income issue. I am hopeful about timeshare sales and it sounds like I could make enough to support my family from that alone. The average salary for a salesmen in their first year is about 45K USD and more experienced sales reps average about 80K USD.
I have a lawyer friend researching the visa issue.
I am not concerned about my psychology. I can handle being away from my family, the language barrier, and all that. It is my wife and kids that I worry about and I plan on discussing this in detail to ensure this will not be an issue. My wife is close to fluent in Spanish so that should help her deal with the language barrier.
Having a family to take with you will certainly help a lot. Most people get into psych trouble when they are by themselves, as living abroad can be isolating. Although, this is less likely in the Latin American countries, due to the friendly culture.
I think you'll be fine.
The only thing that I worry about is your dependence on a commission based position such as timeshare sales. 45k is a huge amount of money for Mexico. However, make sure that that is a realistic prediction, and if the company itself told you that than I wouldn't put any trust in that number. Most sales positions have heavy turnover, and companies need to give those inflated salary numbers to keep the newbies coming aboard. For instance, 45-80k is a very common number that companies use around here, except that I know for a fact that people actually making a living in these sales positions is rare. Hence, they are always advertising their "45k-80k per year" positions.
I assume that you have at least a year of expenses saved though, and therefore you can weather the ups and downs until you make it in such a sales position.
Just wanted to note that you *can* own titled land through a bank trust for a pre-determined period of time (with renewals built in) and you can pass it down to your children. (This is in the coastal areas - farther inland you can buy outright from what we've been told) We've bought several properties through the years and naming your heirs is part and parcel of all the immense amount of legal paperwork done by a Notario.
I see in your profile that you spend at least part time in Bucerias. I recently spent 7 months there with an eye to retiring there permanently. I went with an open heart and a decent grounding in the language. I really wanted to love it and become part of the community. I had visited Mexico several times over the years, but only on short vacations. Bottom line is, I didn't love it. I loved many things about it ( the wide open sky, the frigates, the pelicans, the hummingbirds, the Pacific ocean at my feet) but in the end, I missed the seasons, disliked the constant hot sunny weather, the dust, the poverty, the homeless dogs, the noise and even with my fairly good basic Spanish, missed everyday banter with folks I came across. Everyone was very kind and welcoming, but in the end I came home. I have no regrets about going but I do think it takes a special kind of person to adapt to life there. Being single was an additional burden I didn't expect. Here at home it isn't, but I felt very lonely there without someone to share it all with. I agree with other posters that the OP should go and spend some non-vacation time there and see how it really is to live there as a resident.
I will always have a soft spot in my heart for Bucerias, especially since I made a very good and lifelong friendship with an expat woman living there, but I am happy to be home in the Pacific Northwest and. Lift a Maragarita for me next time you are there. And take a drive up to Sayulita and have the beer battered shrimp at Don Pedro's. Heavenly!
Having a family to take with you will certainly help a lot. Most people get into psych trouble when they are by themselves, as living abroad can be isolating. Although, this is less likely in the Latin American countries, due to the friendly culture.
I think you'll be fine.
The only thing that I worry about is your dependence on a commission based position such as timeshare sales. 45k is a huge amount of money for Mexico. However, make sure that that is a realistic prediction, and if the company itself told you that than I wouldn't put any trust in that number. Most sales positions have heavy turnover, and companies need to give those inflated salary numbers to keep the newbies coming aboard. For instance, 45-80k is a very common number that companies use around here, except that I know for a fact that people actually making a living in these sales positions is rare. Hence, they are always advertising their "45k-80k per year" positions.
I assume that you have at least a year of expenses saved though, and therefore you can weather the ups and downs until you make it in such a sales position.
No, those figures did not come from the actual companies. I talked to about a half dozen Americans who were in that job role. I asked them a lot of questions about it and most said that first years sales associates make between 40K and 60K. The lowest figure I heard was that someone had made 30K but they had taken several weeks off during their first year. The highest heard was that one guy made 80K in his first year.
I plan to do extensive research on the true figures. I have worked a 100% commission before and know it can be rough. However, with the timeshare job the potential customers are brought directly to you which makes it really nice. Not many sales jobs do that for you.
My wife and I have increased our savings deposits already in anticipation of this being a possibility.
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