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| *Travel Tips>>>General - Mexico Travel Tips |
Can I emmigrate to and retire young in Mexico? |
Travel Info I am a 40 year old single male who inherited $1 million. Is that enough to retire in Mexico and live there without working? I would want a beach house in a civilized area (restaurants, theatres, etc.) Has anyone else done this? Do I have to give up my US citizenship (I do not want to do so)? Travel Tips Why would you want to go to a country where there is a corrupted Gov't? Mexico's Government has a long ways to go to get things better for all that live there and you'll still have to pay taxes...Why not Panama? That country gets better ratings as THE place to live over Mexico any day. Or maybe New Zealand!? whatever you do...good luck and too bad this poor man doesn't have the luck you have...inheriting moolah like you did. But Congrats and don't let anyone take your last dime, and I mean anyone... Others Just leave. This is most certainly doable and especially so because of your inheritance. Take a look at the following link which gets very deeply into the questions that you have and will give you pointers on what to expect. http://www.mexperience.com/liveandwork/... While Panama is okay, the weather there is in two phases, Hot and Rain. Costa Rica is also worth exploring. We are USA citizens living on Vancouver Island, BC Canada and wouldn't be anywhere else. Well, I sell real estate in Los Cabos, and property on or near the beach is VERY expensive in areas you would like to live. You can spend a million(most likely a lot more)for a beach house. No, you don't give up your citizenship, but you'll need a visa to visit or get your FM3(foreigner who lives in Mexico) from Immigration which must be renewed every 6 months for a fee.( Mexico is very strict about foreigners who wish to live here.) And Immigration will want to see a current bank statement that shows you can support yourself. If your're only 40, a million isn't enough to support you the rest of your life. Of course, if you invest it, maybe you can live off the interest. But, I doubt it. Those days are long gone, my friend. I would think that you could live off a million dollars for quite a while in a remote location in Mexico. It would last you quite a while in a place like Puerto Angel, Oaxaca. Someplace more "civilized" (Puerto Vallarta?), you would have to watch your money more closely. Listen to the guy who told you to invest your money. See how much of an annual income you could expect, then plan accordingly. If I had a million $, I would first explore the entire Pacific coast to see which area I like the best. Then I would buy a house and run a business (vacation rentals, for example). If you want to hire someone to scout locations for you, I'd me more than happy! I am a retired American living in Mexico on way less than a million dollars!! Yes you can do it. But one word of caution...I seen other people who, when they retire,(especially if they retire early), become bored and depressed. You need a purpose in life, a goal, something to do that keeps you busy but is not just busy work. You need to set up a foundation or get very involved in charity work...something you can love and that will give purpose to your life...money is great, the beach is great, but without purpose and responsibilities in your life...you may not be happy in your retirement. Some of these people are WAY far out there! Of course you can retire with a million! Good grief, I know plenty of Mexicans who "retire' back to their homeland and live quite comfortably on their $700 a month SS check! Define civilized for me. Have you been to San Felipe, Baja? PLENTY of gringo's there, you can get a house on the beach built to your specifications for about $375G ( depending on size, of course!) You have SO many options! Why don't you travel for a bit first and see which places you like? I'm an American woman with a Mexican partner. We have land in Michoacan and are looking for property in San Felipe and Zirahuen. If I can help you with anything or information, you can email me also, I'll tell you what I know. |
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