In the United States, the capacity to afford retirement is far from guaranteed; many Americans struggle to make ends meet throughout their golden years. According to the latest Anytime Estimate Retirement Finances Survey, half of all Americans do not have enough retirement savings.
There are several strategies to save for retirement, but for some, there may not be enough time (or sellable assets) to accumulate the necessary liquidity. Furthermore, who wants to scrape by when they can finally enjoy their life free of work?
It might be time to fly to Mexico, where there are many beautiful and affordable places to hang your fedora and sip your margarita.
Here are seven fantastic places to retire in Mexico.
Monthly living expenses are estimated to be $1,600 per person.
Beyond the obvious answers like price, Mérida wins if you want a blend of culture and convenience, Jenita Lawal, a travel curator, and life design expert, said. There is a Costco, Sam’s Club, a Home Depot, a Sears, a Pandora, an OfficeMax, and restaurants such as PF Chang’s, Texas Roadhouse, Friday’s, Chili’s, and even IHOP. Merida is also full of excellent cultural events, music, and baseball. Venues like the Merida English Library and Habla offer activities to bring expatriates and locals together.
San Miguel de Allende
Monthly living expenses are estimated to be $1,700 for a couple.
The majority of Americans who chose to retire in Mexico chose San Miguel Allende because it has a moderate climate all year, stated John Hubbard, founder, and CEO of Urban Dare. There is also access to low-cost, high-quality healthcare. The town is teeming with physicians, dentists, and well-known clinics in the medical sector.
Mazatlán’s estimated monthly cost of living is $1,300 to $1,600 per couple.
Retirees seeking a reduced cost of living and the benefits of a resort region select Mazatlán on the Mexican Riviera, said Joe Cronin, president of International Citizens Insurance. It’s one of Mexico’s safest areas and offers beautiful beaches, fascinating activities, and extensive cultural offerings.
Monthly living expenses are estimated to be $600 per person.
Dave Sayce, CEO of Compare My Move, stated he would advocate retiring to this location since it is culturally rich and not unduly hectic. While there is enough to do, life moves at a slower pace. There are so many beautiful locations to come to here, and it’s also famous for its fantastic fish.
Cozumel’s estimated monthly cost of living is $1,000 to $2,000
Cozumel is ideal for retirees (going abroad for the first time), said Julien Casanova, founder of Cultures Traveled. Because of the established tourism business, there are many home comforts. At the same time, the tropical climate, magnificent beaches, and the hustle of island life ensure that retirees have an incredible journey.
Monthly living expenses are estimated to be $1,200 per couple.
Durango is a vast, innovative city with beautiful weather and a good standard of life but is still relatively unknown to ex-pats, Live and Invest Overseas’ Kathleen Peddicord said. Durango’s surroundings seem like the Old West, nestled in a valley high in Mexico’s western Sierra Madre range, and more than 140 Hollywood movies have been filmed in the environs.
Living expenses range between $1,430 and $1,930 per couple.
Those searching for stunning colonial architecture and vibrant culture that is more Mexico than spring break should head to Oaxaca, Peddicord added. It has a pleasant environment, fair rates, direct flights to the United States, and high-quality healthcare. In its busy Centro, you’ll see bright colonial structures and even more vivid costumes and handicrafts from the area’s numerous indigenous communities. This city is surrounded by mountains, providing a beautiful backdrop and several options for adventure.