Ten Tips to Ensure a Fulfilling, Enjoyable Life Transition for Retirement in Mexico
- Wed 2 Dec 2020 - 8:32 PM
All the financial consultants, lifestyle coaches and pyschotherapists cannot truly assist American and Canadian prospective retirees in their 50s and 60s, unless they have been there, done that. Whether you've got your sights assail San Miguel de Allende or Oaxaca, Huatulco or Cancun, the simplest advice on Mexican retirement comes from those folks who have taken the leap... then only after several years of thorough, thoughtful introspection.
Healthcare, general affordability, language, and "now what do I do," all seem to top the list of questions those considering becoming ex-patriots in Mexico seem to possess . With 13 years as a frequent visitor to Oaxaca, and now an extra 13 years as a permanent resident transplanted from the great life as a Toronto litigation lawyer, I even have been ready to pondered how and why at 53 years old I did what I did. The answers now come easy. So here are my top ten tips which if considered will ensure a satisfying and enjoyable life wherever in Mexico you decide on .
1- LEARN THE LANGUAGE
Sure, a number of us are linguistically challenged, and such an affliction can certainly put a crimp on our plans. But it's imperative that you simply a minimum of attempt to learn Spanish, and keep at it until you're not embarrassed to open your mouth. There are Spanish language schools in pretty much every major center within the country. And, it's easy to seek out an area who wants to find out or improve his/her English, in order that you'll plan to have an "intercambio" once or twice every week , at no cost, to supplement formal grammar classes. Often the intercambio also is a jumping point towards making new (local) friends.
It's indeed difficult to not gravitate to establishing friendships with primarily other ex-pats, since that's the trail of least effort . But surely one among the explanations you're selecting Mexico is due to the rich and diverse cultural traditions; the simplest thanks to establish them is to start out with the language. By beginning relationships with Mexicans, be they white urbanites or natives from tiny villages whose mother tongue is an indigenous tongue, or anything in between, any way you'll become welcomed into their world are going to be an asset in your quest to be included in their rites of passage; celebrating weddings, birthdays, baptisms and 15 años, and crying at funerals.
2- BUY GOVERNMENT HEALTHCARE
In 2017, the annual cost of shopping for comprehensive federal insurance referred to as IMSS (Instituto Mexicano del Seguro Social), was under 15,000 pesos (well under $1,000 USD) for a few with a minimum of one partner 60 years aged or older. It covers visits to the doctor when you're sick, medication, specialist care and consultation, tests and analyses, surgeries and emergency care. Yes there are delays, the extent of sterility might not be that to which you're accustomed, and you can't select your own practitioner. But you'll mix and match if you're so inclined, that's by using private doctors, labs and hospitals when it suits you, or going with IMSS. the standard of care is extremely good, not without sometimes having to ask around - even as you'd back home.
the purpose is that Mexico trains many good doctors, and actually some have had American experience by taking courses, upgrading, etc. in the US. you do not need to worry about maintaining your Canadian coverage by returning to your home province for X number of days a year, or worry about the value of returning to the US simply because you've got comprehensive coverage there.
3- VISIT YOUR ULTIMATE FINAL DESTINATION a minimum of 3 times BEFORE DECIDING
it's going to seem trite, but don't simply examine a Mexican destination and make the choice to relocate without having even visited. Some people actually roll in the hay that way, believe it or not. My wife and that i visited Oaxaca two or 3 times a year for several years before buying our land and building. I suggest a minimum of three visits before committing to either buying or renting. Get the vibe of the town . Investigate locations for living, and do not simply decide you would like to measure during a particular neighborhood without first having had a short-term rental there.
If getting to sign a lease or buy, confirm you've got a way for the sort of community, and believe proximity to public transit; parking; noise level: services like cable, city water, drainage and garbage pickup; sort of neighbors; nearby restaurants and entertainment; etc., etc., etc. you would possibly like visiting downtown for every week or two, but you ought to believe being there permanently, within the midst of constant din, exhaust , street activity which begins before dawn, and every one the remainder . On the opposite hand, does one want to be thus far faraway from downtown that you simply need to consider about getting to the town center for dinner, drinks or a cappuccino?
4- GET A CAR
If you would like to measure downtown or otherwise on the brink of everything, and are familiar with taxi and/or transportation system , you'll not need a car. But you will probably want to go to neighboring communities on your own, at your own pace, and won't want to believe others to be your chauffeurs. albeit it's an old clunker, it is vital to be mobile.
in fact vehicle rental agencies provide an honest option, but one often thinks twice before spending on a hire car , whereas if the auto is already within the driveway or garage, it is a non-issue. Although insurance could also be optional for vehicle owners, buy it, so on make sure that if you get into an accident you will not find yourself in jail for an extended period of your time .
5- DRESS APPROPRIATELY
Dress because the locals around you are doing . If you reside during a city within the interior of Mexico like Puebla or Oaxaca, you'll notice that men typically don't wear shorts, trainers or t - shirts apart from on some weekends, typically Sundays. you will be treated more as a resident and fewer as a tourist, and presumably that is what you would like , with a view to in due course expanding your social networks to incorporate people that are born and raised in your new home town and environs.
6- CONSIDER BOTH YOUR CURRENT AND ANTICIPATED ASSETS
When considering if you'll afford to retire in Mexico, financial advisors ask about your current assets and liabilities, income, and anticipated costs when living during a new, southern city or beach area. They'll also ask if you've got any dependent children who could also be counting on you for his or her ongoing expenses like university costs. While some people might think it repugnant, it is vital to also mention any anticipated inheritance on the horizon. a few of decades ago three Canadian financial experts were consulted by a newspaper journalist for a story, Mañana Split, about our decide to retire to Oaxaca.
all of them stated that we couldn't afford to try to to it. Our own advisor asked about likely inheritances, ages of our then aging parents, etc., while the opposite three didn't . Our advisor said we could likely afford early retirement, and here we are (although we actually could have done it without inheritances; therefore the experts who had not known us personally for an extended period of your time , did actually catch on wrong).
7- PARTICIPATE IN CHARITABLE ENDEAVORS
the very fact that you're even considering retiring to Mexico suggests that you're willing to think outside of the box, and have interests apart from family, friends and work. Given your personality, then, you will find ways to stay yourself busy in your new life, immersing yourself in cultural activities and finding other innovative ways to stay busy; and maybe even earn a touch of cash . one among the foremost self-fulfilling ways to occupy some time is to become engaged with one or more charities. Virtually every Mexican ex-pat destination has charities which desperately need some time . you've got some quite valuable expertise, whether you know it or not, which will be appreciated. Not only will you be feeling good about yourself, but you will be helping others during a far more direct way than simply donating money to World Wildlife Fund or United Way. Witnessing first-hand how your giving of your time and/or money is positively impacting others is remarkable.
8- BE LAWFUL
Don't simply move to Mexico together with your temporary tourist visa and overstay your welcome. Secure a resident visa early . Confirm with them that you simply can work on the work you would like , and ask the steps you want to take like having the employer write to immigration to allow them to know / seek permission to rent you. Don't start a business without a tax number and getting permission from immigration; once you start , if not sooner, obtain an accountant and learn the law about filing tax returns.
Living in Mexico may be a privilege and not a right. If you break the law, you'll find yourself in jail, and be thrown out of the country, permanently. There could also be some antipathy towards you as a foreigner working in Mexico where there are numerous much poorer people than you without work or underpaid. The resentment doesn't always get away , therefore the best you'll do is follow the law, have all of your permits in situ , and pay your justifiable share of tax.
9- get on BOARD together with your PARTNER
Often one partner is hooked in to moving to Mexico, and really excited about the move and new lifestyle; while the opposite is simply willing to try to to it or a minimum of provides it a try. which will be dangerous. If both partners don't have an equivalent vision for the longer term , there could also be ongoing conflict between the 2 of you, together with your partner but a mere reluctant participant within the new life.
you ought to aim towards a simple transition with no regrets, best achieved with the 2 of you ad idem from the outset.
10- HAVE A CUSHION / CONTINGENCY PLAN
Although this text is meant to attenuate the risks involved in retiring in Mexico, you'll still, a minimum of to some extent, inevitably be taking a leap of religion . If you'll have a contingency or "what if" plan, all the higher . are you able to return if things don't work out? It's something to significantly consider before making the choice.
it is the one thing we didn't really consider before buying those one-way plane tickets, but thankfully all the remainder was thoroughly considered and mapped out , and there are no regrets.