According to a report in the Wall Street Journal a couple of months ago, some Baby Boomers in the United States are beginning to discover that their 401(k) retirement savings plans will not deliver nearly enough for them to live-out their retirement. The global financial crisis which began in the autumn of 2007, coupled with extraordinary rises in basic living costs are forcing many to rethink their retirement plans and work longer, because the savings which they built-up are now proving insufficient.
The rise in living costs has been a catalyst behind the influx of baby boomers moving to Mexico in recent years. Here, property taxes and property maintenance (if you buy) are lower; property rental rates (if you rent) are lower; and staple food prices are lower, too, than they are in the U.S., Canada and Europe.
A move to Mexico can reduce your everyday living costs and make your pension income stretch further, provided that you plan ahead and structure your choices wisely.
There are countless case studies of foreigners who have migrated here and who are finding that they can live a more simple life in Mexico: by simplifying their situations in lower-cost environment, their retirement incomes are stretching further, allowing those savings investments to deliver what they were always intended for: covering living costs in retirement.
The successful migrants are the ones who took the opportunity to simplify their life situation and, instead of attempting to transplant their home-country situations to Mexico, they instead arranged their affairs so as to avail themselves of things including good health, agreeable climates, and life quality; eschewing overly-consumptive habits—the ‘trappings’ of materialism are so-called for a reason—and, in return, gained new perspectives on life: more personal time, less complexity, less stress, wholesome fresh foods, more exercise, and a more gentle pace of living.
The rise in living costs has been a catalyst behind the influx of baby boomers moving to Mexico in recent years. Here, property taxes and property maintenance (if you buy) are lower; property rental rates (if you rent) are lower; and staple food prices are lower, too, than they are in the U.S., Canada and Europe.
A move to Mexico can reduce your everyday living costs and make your pension income stretch further, provided that you plan ahead and structure your choices wisely.
There are countless case studies of foreigners who have migrated here and who are finding that they can live a more simple life in Mexico: by simplifying their situations in lower-cost environment, their retirement incomes are stretching further, allowing those savings investments to deliver what they were always intended for: covering living costs in retirement.
The successful migrants are the ones who took the opportunity to simplify their life situation and, instead of attempting to transplant their home-country situations to Mexico, they instead arranged their affairs so as to avail themselves of things including good health, agreeable climates, and life quality; eschewing overly-consumptive habits—the ‘trappings’ of materialism are so-called for a reason—and, in return, gained new perspectives on life: more personal time, less complexity, less stress, wholesome fresh foods, more exercise, and a more gentle pace of living.
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