Retiring To Mexico? Financial Considerations + Video

Posted by Barbie on March 14th, 2008 at 11:15pm

If you’re even contemplating retirement – get all your finances under control. Pay off all credit card debts and keep them paid in full monthly. Get your home paid for, even if that means moving to a smaller –more modest home. Save every penny you can…believe me, worry-free retirement is worth every penny you’ll squeeze. And remember, your money can go a lot further in Mexico, as you’ll read in my book, Retire In Luxury.

I found these statistics so interesting, and they confirm Dick’s and my theory: before you retire, clear up all your debts and your dollars will go so far that it’s hard to believe!

Age 50+ Head of household (still working): Gross income $56,281, and their discretionary income is $19,828.

Compared to a RETIRED Head of household: Gross income $32,411, and their discretionary income is almost the same as the worker at $14,065!

The working individual is bringing in over $24,000 more a year, but only has $5,500 more discretionary income than the Retiree! When you work, you just naturally have more expenses!

There are 15.2 million people aged 50+ who live only on their Social Security.

There are 6.6 million people aged 50+ who own second homes.

Also sort of confirms our thoughts about both people working in a household unless it’s truly necessary. By the time you pay for extra clothes, possibly help with the housework, going out to eat a lot more, needing two automobiles, the extra cost of that, from upkeep to insurance – then, if you have kids – and pay for daycare??? Don’t think the end result helps the family that much. Oh well – that’s our theory.

And before I go… here’s another video I thought you might enjoy — just to give you another taste of Mazatlan. You can see that Mazatlan has just about everything we “gringos” have come to appreciate including Dairy Queen, Burger King, Subway, shops, VIPS and — as usual — a lot of our dashboard :)  

Driving, familiar fast foods on Camaron Sabalo:

Under