Let’s face it,

If you want to

retire in Mexico,

you need to experience the real Mexico first.

A few people who are just beginning to consider moving to Mexico for their retirement years and some who are now ready to decide just what area will fulfill their dreams of retirement have emailed me asking just how, in my opinion, they should best experience Mexico so they can be sure they are choosing the right area for them to live.

Please, don’t just pack up and head down on a tour bus or an “all-in-one” planned tour to Mexico… not for this important venture. Not for your retirement.

Take charge of your trip – do your research first, have a list of places in and things you need to check out. A Mexico tour might be great, but it’s not going to show you what the real Mexico is. In other words, don’t go with the idea that you’re just going on an elaborate vacation. Go realizing you are looking at a potential place to live.

Go shopping for groceries where the natives go. Wal Mart is great, but go to the Mexico native market place, too. You’ll be amazed at the quality and variety of foods offered, fresh, and very reasonable! You’re sure to see lots of things you’re not at all familiar with. That’s all part of the charm and fun of a new location like Mexico. Remember, this is your retirement adventure.

Mexico shopping area

Some of the best information that I didn’t even think of obtaining came from a lady I stopped in a Mexico grocery store. A very kind, and talkative lady and I chatted in the middle of a grocery store isle for 20 minutes. Dick and I received a wealth of information from her and her husband, who finally came walking down the isle, wondering just where she had gone :)

You really want to spend your time talking with the people who live in Mexico. Start up conversations with people at little restaurants where the natives go. Start conversations up with people in the shops. You just may even end up with a new good friend!

Do find the American organizations in the area. I list some that are in Mazatlan in my book, Retire In Luxury.  Talk with the people there …you will be so welcomed!  And you’ll learn all sorts of experiences and problems that have already been experienced and solved.

See what real day-to-day life will be. You don’t want a sanitized version of life in Mexico. Believe me, not everyone who lives in Mexico goes to a fiesta every night.

Learn what the real Mexico is like.

You will probably truly fall in love with it. Just remember, you’ll still have plenty of time to enjoy the beautiful days and your evenings relaxing and having fun later on! Sure, you want to do the sightseeing stuff …just make sure you do your investigating first!

Experience Mexico article by Barbie.

We are all faced with many decisions when

contemplating

retirement!

Logically, and sensibly, your choices for your retirement years should be based primarily on your finances.

Do you want to do a lot of traveling? If you choose that lifestyle, then why would you start looking for a large home, with a lot of upkeep demanded?

You may decide to just stay put – perhaps near family – in the home you’ve been in for years.   Or, have the family already scattered, so you are free to move where you can really make the most of your retirement years, and just enjoy their visits ?

Some of our friends, retirees also, have felt they must have extra bedrooms and baths for the relatives who come to visit (usually once a year). Just contemplate… how much would it cost you to simply rent a motel room for them, compared to the upkeep and expense of having that extra space you’re going to pay for ??

Think of the original cost of the extra room, the extra taxes, the heating, the cooling, and just the upkeep!

You can pay for a lot of overnighters in a motel for what you will pay for that extra room that isn’t even used 95% of the time. And heading to a private motel room is usually a wonderful break – for everyone – to part at the end of the day for some private time and recuperation time!

Do you plan to do a lot of entertaining – either family or friends? Again – why get a humongous home you’ll be constantly cleaning and keeping up, when friends are just as comfortable in a more intimate setting.

Remember, you and your friends are getting older each year, and the wild parties of your 30’s and 40’s possibly are not the evenings you will be experiencing in retirement.

Street in Mexico

Keep your taxes low, keep your utility costs low, and enjoy a higher, more leisurely lifestyle like you can do if you move to Mexico.  We’ve fallen into the nicest concept…It’s called “pupu parties” … I guess it’s Hawaiian for hors d’oeuvres party. You just call a bunch of friends – they each bring a nice snack, your supply the drinks, and it’s a wonderful, easy, inexpensive and casual get together. Not too much work for anyone, and a great reason to get together with friends!

If you have a lot of equity in your home, (I always stress that hopefully by the time you are contemplating retirement, your home is paid for) and you should decide to sell it, buy smaller, have less expenses, put the profit into an investment portfolio and enjoy the interest.

Then, you may decide to just stay put – in the home you’ve been in for years.  Just realize that air conditioners eventually will need replaced and the plumbing – possibly, etc.  And if you have a lot of equity in your home, if you sell it, buy smaller, and put the profit in the bank – voila!  Interest to help with expenses, or to grow for a long desired item!

Don’t overlook renting – an apartment or a condo – everything is secure when you take those trips, and you won’t have to own a lawnmower or snowblower anymore!

Your retirement maybe be just around the corner,

or it may be along way off, but from this day forward it’s up to you – and no one else – to save enough money to live on happily after retirement.

As far as Social Security benefits, the nay-sayers and dooms-dayers say it won’t be there for long – but, if is, then it will be an added bonus!  But, long before your retirement date, you should contact your Social Security office, and get all the information you can – they can tell you when you can start drawing on Social Security, and how much you can expect to receive – invaluable information for planning your life!

Suggestions: If your employer offers retirement savings plans – take advantage of them – they are taken out of your pay before taxes – and the savings will earn interest, and you won’t be taxed until you – usually in retirement – take the distributions.  And, believe me, in retirement, most of us have a lower income – ergo – lower tax ratio.  Win-win – you saved, let it gain interest, and the taxes will be less.

If your employer offers a matching play – take full advantage of it!  Contribute as much as is allowed.  Same scenario as above paragraph, plus you double your savings!

Once you have a retirement plan established, don’t borrow on it!  You’ll find it’s almost impossible to replace the money you already saved – and you’ll be paying back interest too boot! And you may be taxed twice – when it was earned and again when you withdraw it at retirement.  Keep your eyes open for Penalties!  If you take distributions before the qualified age, those withdrawals may have penalties!  So, try to wait until at least you qualify for Social Security and their insurance to retire – you’ll find health insurance can be a huge expense on your own.

Retirement article by Barbie.

We are all

concerned

about safety. 

The following email I recently received emphasizes that very fact – our safety. It’s from Edna and she writes:

Hi Barbie: If I want to go and spend a month in Mexico to test the waters so to speak, do you have any information on that? I’m single female, traveling alone. Would it be safe? Thx,  Edna

Edna has a very good question. My response is: No matter where you go, you need to be careful. That includes anyplace in the U.S., too. You need to be careful in Mexico, in New York City, in San Francisco, and in Small Town, USA.

Early morning

I really think  that no matter where you go, you will enjoy it more if you can talk a friend into going with you. My opinion is – you should never go to a strange place alone.

And remember: Get all the information you can before you go. Know what to expect. I have received so many emails from single guys and gals and they have been just fine – but, know where you’re going – know what to do. Don’t be foolish. Do your research and plan ahead.

Talk about safety…

I just got an email from someone who “had a friend” who was in one of the larger cities in Mexico. They were at a bar and decided to walk to their hotel at 3 AM.  Excuse me, but that now no way thinking of safety - was stupid…anyplace!!!  So, the police pulled them over and fined (” robbed”) them of the cash they had on them – $55. Frankly at 3 AM they were lucky something worse didn’t happen to them.

Anyway, I’ll get off my pulpit and just say: BE CAREFUL. Enjoy yourself  and research, research, research before you go, and always be aware of the safety factor.

Maz to PV and back:

Safety article by Barbie.

So, you want to retire?

Then get your finances in order.

Of course, if  you’re soon going to hit that magic age to retire,

it may seem a bit late to worry about.  But, hopefully, you’ve learned to be a bit frugal along the way – put a little bit aside – learned not even to try to keep up with the Joneses (Like the pitiful guy on the television commercial who shows off his beautiful house, his big new car, the golf club membership and then admits “I’m up to my eyeballs in debt!” – poor guy – no – poor stupid guy.)

My husband, Dick, and I learned years ago it’s not how much money you bring in, it’s how wise you are using whatever that amount is.

So, clear up those credit card balances before you are ready to retire…

… and then make it a practice to always pay your credit card debt off each month.  We also feel you should try your very best to have your home paid off – no mortgage in otherwords.

Remember, you’ll most likely want to downsize when you retire - why worry about having to clean and care for a 4-bedroom home when you really just want to head out and get another round of golf in?  Hopefully you can sell that big money-drainer and get something easy to take care of and then, even put a good chunk of cash in your pocket.

I have a chart in my book , Retire in Luxury, that actually has the figures and compares living expenses where we then lived, with those expenses we would probably experience in Mexico, when we retire.   Actually, during the time Dick and I were exploring, in order to decide to where we would and spend these precious years, we had charts for everything – and we even had a chart about what we wanted in a house - what would be really important to us – what was necessary – and what we’d like but could do without– we really are detail folks, apparently!  Especially in retirement, it works for us!

Retire article by Barbie.

Expat

Social Clubs

When you head to Mazatlan to check things out, a fun and easy way to get info is to visit the expat social clubs.

You’ll get opinions on everything from other expats, from banking in Mexico to hearing about the wonderful theater downtown.

Once you’re here, you’ll probably find even more organizations!  Here are some of the groups to check out:

“What’s Up Amigos”  At “When Pigs Fly” 4:00 p.m., Fridays. When Pigs Fly is located on the malecon, about a half-mile south of Valentino’s Disco.

ROTARY INTERNATIONAL  You won’t have to miss your meeting if you call 69-83-90-37

LION CLUB  Located in Av. Insurgentes #1000.Phone: 69-83-28-00, 69-83-12-56

AA MEETINGS  Monday, Wednesday, Friday at 6:30-7:30 p.m. Sunday 10-11 a.m. #333 Sabalo Suite 6 across from Guadalajara Grill, behind stores, 2nd. row (there’s a sign in the window) Golden Zone

ALANON MEETINGS  Wednesday 5-6 p.m., same address as AA. For information call Expat Mike at 69-13-01-32 or Expat Barbara at 69-88-05-68

Get together

AMERICAN LEGION POST #11  All meetings are held at The Place (El Paraje) restaurant on Sabalo Ave.For more information, you can call Commander A. “Sam” Pelzman at 69-85-20-47;or Adjuntant Jerry Alexson at 69-16-66-03

AMIGOS DE LOS ANIMALES  The Humane Society can be reached at: 69-16-71-07.

HANDS ACROSS THE BORDER  This is a group of English speaking expats in Mazatlan, they meet the 2nd Friday of each month at 9 a.m. at the Playa Mazatlan Hotel

FRIENDS OF MEXICO  Meets the 2nd Tuesday of each month at El Pueblito Restaurant on Av. Camaron Sabalo. Social hour begins at 9:00 am, with the meeting starting at 10:00 am

FRIENDS OF THE AQUARIUM  They meet sporadically. Volunteers are needed. You can call Kittie at 69-83-99-31 or Vicky at 69-16-62-10 for information

PRO MEXICO  It’s a Mazatlan organization dedicated to help people help themselves. Call 69-85-26-11 for more information.

If you’re an expat or a native, there are seven Asociacion’s Mexicana Automovillistica throughout Mexico. 

I had originally thought there were no auto clubs in Mexico that sort of correspond to our AAA, American Automobile Association – but I was wrong.  I have their contact phone numbers as an addition in my book Retire In Luxury.

You will find most of the meetings have a listing in the local newspaper – Pacific Pearl.

Expat Clubs article by Barbie.