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We lived in Mexico full-time 2008-2012, but returned to the US to take care of an elderly parent. That chapter of our lives is over and we are heading back to Mexico.
We like the challenge of living outside the US....I think it keeps us young, having to learn some Spanglish, local customs, etc.
We will keep our US house for awhile, but eventually we will live out our days in Mexico. We purposely bought a home with a separate casita for caregivers, if it comes to that.
We did consider Spain for a nano-second, but decided it was too far (to get back to US for non-emergency medical care) and too expensive health care (Spain requires proof of local health insurance before issuing a permanent visa and it was pricey since one of us has a pre-existing condition), plus our fave places in Spain are cities and we weren't willing live in an apartment. We will continue to visit Spain, though.
Here's a link to the Top 2017 picks by International Living. And yes I realize these lists are rather vague but I consider them Food For Thought.
Good ole International Living! They guided us to Ecuador, which I see is behind you in Mexico, at #3.
We literally could not retire in the U.S. Here, we are in a new condo right on the beach. Our "regular" expenses are from $1,000 to $1,500 a month. No car, but we take the bus into town for $1 to shop, then taxi back for around $7, with all our stuff. We can live on our paltry SS.
I think Mexico, along with the other destinations mentioned, may speak more English than here. Hardly anyone does, so that presents its own challenges. Yesterday I was picking up some liquor for the weekend at the local supermarket, and the cashier looked embarrassed and put my bottles away, gesturing "no". I was non-plussed until a friendly bilingual customer explained that this was election weekend, so no buying booze from Friday 1 pm until Monday 1 pm. OK....(actually this happened in Utah, too, on election day!
Then, we went with a translator to open a local bank account. WOW. 3 hours later and a stack of paperwork higher than my house sale paperwork, we were waiting in an interminable line to deposit our first check. They are not into online banking here yet. No one takes checks so its cash and more cash.
It's fun in retirement to witness these differences in culture. I was aware of many of them prior due to family living here previously. And learning Spanish at this age, will keep some mental synapsis firing.
And like you, DotheTwist, we hope to have in-home care from the locals if/when we get to that point. Could never afford a nursing home back in the U.S. After all, I have a maid for $3 an hour!
Funny...we had the same Election Day issue at a restaurant on our first Election Day in Mexico (though my kind waiter later brought me some wine in a Solo cup, telling me, Porque no, you aren't voting).
Our Spanish got a jump start when we bought our first home in 2008 and had months of renovations done. While the maestro (contractor) spoke fairly good English, none of his workers did. At Lake Chapala, the amount of Spanish you need depends on how and where you live. Our homes are/will be in the village with Mexican neighbors on either side of us. We shop at the smaller tiendas (many are simply the front room of a Mexican family's home). While most of the restaurants have English speaking staff, the hardware stores, paint stores and post office do not. It's just enough of a challenge to keep us on our toes.
I would rate my Spanish vocabulary at a grade B- but my grammar is horrendous. We managed to gallivant all of MX by car (and plane) and make ourselves understood, usually. Of course our stories about being unable to communicate, are the funniest.
If you could afford to live in the USA with the same level of accomodations would you?
We can actually afford to live pretty much anywhere (we know we are very lucky).
But what bugs us in the US is the cost to carry a nice home. Yes, we can afford to pay those taxes, insurance, flood insurance, etc. but it's money out the window.
Our new home in MX is 1 block from MX's largest lake with view; 3800 sq. ft. on a 10K sq. ft. lot. Has a big inground pool, soaring stone interior walls (some are over 16 feet). A separate 1BR 1BA casita.
In FL we have a much smaller home, no pool at 1800 sq. ft. on 10K lot in a beach town, one block from bay, but no view.
Here's what our annual expenses will be house to house:
Taxes: $3200 in FL; $300 in MX
Homeowners ins.: $3500 in FL; $200 in MX
Flood Ins.: 780 in FL; not needed MX (Note: Flood insurance is skyrocketing, going to market rates and we guess ours will be over 2K in another few years).
After 10 years, we will have paid $75,000 to carry the FL home (and that doesn't include increases); in MX, the cost will be $5,000. If we were to upgrade our FL home to something more similar in size, with pool, etc., our overhead could easily double. We wouldn't consider living in FL without being within a block of the water/beach, so that's where we get hit with higher insurance, flood insurance and higher taxes.
We will keep the FL house for a few more years because my DH wants to have a residence in the US for a while longer. If it was solely up to me I'd go all-in with Mexico now.
I should also say that we LOVE the Mexican culture and the weather, it just suits both of us.
Last edited by dothetwist; 04-01-2017 at 11:43 AM..
Some places, like Nicaragua, are actually much cheaper (and safer!) than Mexico. El Salvador has some crime issues, though, and the capital San Salvador is considered one of the most unsafe cities in the world ... yet some American Gringo ex-pats swear by the smaller towns they live in.
Costa Rica was the first choice for ex-pats, but I hear it is no longer cheap. Prices going up in Panama too.
I have considered living outside the USA but get concerned about medical care and the ability to make friends. I worry we'll be socially isolated and if/when one of us becomes very ill or dies the other will have no real support system.
I have considered living outside the USA but get concerned about medical care and the ability to make friends. I worry we'll be socially isolated and if/when one of us becomes very ill or dies the other will have no real support system.
Those are very real concerns. That is why some Americans opt for the most popular destinations - although they are NOT the bargain destinations - like San Miguel de Allende in Mexico. Very large American ex-pat community that tends to be tight knit.
There are a few places where medical infrastructure is superb: as good as the very best American hospitals. One place is Bangkok, Thailand, with it's famous Bumrungrad Hospital or Chulalongkorn University Hospital ... at costs much, much less than their American counterparts like Johns Hopkins or Cleveland Clinic or Barnes Jewish.
The idea of retiring abroad is doable for me because I have very little family ties that are still alive here; no kids; not that close to my siblings. On the other hand I am an extremely friendly and outgoing person and make friends easily. When I travel abroad for pleasure I make friends without difficulty. I have friends in India that I keep in touch with via Facebook.
Good ole International Living! They guided us to Ecuador, which I see is behind you in Mexico, at #3.
We literally could not retire in the U.S. Here, we are in a new condo right on the beach. Our "regular" expenses are from $1,000 to $1,500 a month. No car, but we take the bus into town for $1 to shop, then taxi back for around $7, with all our stuff. We can live on our paltry SS.
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I budget $1,945
Without my morgtage and insurance on the airstream this would be below $1,500 already.
I typically have $100-$300 remaining at the end of the month.
Eat steak 1x/week
2 vehicles on insurance
Date
Many other things I could cut.
(It's already ~ half my income, so I don't watch it closely.)
Right here in the US.
(On 80 acres, 2k sqft house) In the ozarks.
2 year round waterfalls on my property
Taxes are $200/year.... before homestead exemption (which is higher) etc.
Not knocking living elsewhere, just addressing the "can't"
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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OUTSIDE the box / ie. w/ medical...one of the few homes that have views facing the Tetons would be one of my first choices, but since USA is not an option for me (no HC)...
Mtns in Central America are nice, but (while we are out of the box...) I really did like living in Switzerland, less than an hour to France or Italy. The QoL for active retirees is quite nice. Trains to most villages, can ski right to chalet from the lift. Church chiming down in the village (amidst the snowflakes), cow bells next door, Rachlette grill all warmed up... (We brought one home!) . ...
NZ is pretty sweet too, but high Cost of Admission for USA / elderly / W/O HC.
I'm sure there are plenty of great places, South Pacific if I liked beaches. (which I don't)
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