Don’t Kill the Golden Goose! – How NOT To Retire Cheaply In Mexico
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For some retirees, the answer is “beauty”, culture, ambiance…but for the vast majority of Americans and Canadians, the number-one reason is “affordability”. Meaning: “Cheap retirement”.
You see, the wage scale and cost of living in Mexico is why retirees want to live there.
While American dollars can be a tremendous boon to the local economies of many retirement havens and enclaves, our dollars can also backfire on us if we are not careful.
Many retirees and tourists make the mistake of showing off their dollars. They want to feel “rich and powerful” or they feel guilty because they aren’t paying enough. How do they do this? By leaving huge tips. By over-paying. By flaunting their money or giving it away in exchange for common courtesy — something which has always been free in any culture.
And when prices increase, retirees aren’t the only ones who suffer. What about the natives who are “priced-out” of the basic neccessities of life? Expats and retirees aren’t the only ones who need to live cheaply!
Let me present a story you need to read before you retire:
The first year Jim went to Mexico, he felt embarrassed by the extremely affordable meals, goods, and rentals available — so he covered his discomfort by leaving large tips everywhere.
The next year he went back, and found the prices had risen, but still affordable. He continued leaving large tips that year, still assuaging his guilt over the still very inexpensive prices.
Jim struck up a friendship with a restaurant owner and eventually broached the subject regarding the seemingly never-ending increase in the cost of groceries, the cost of renting, the price of meals and prices in general. The restaurant owner frankly replied, “As long as you Americans want to pay a lot, we can accommodate that. We will find out just how much you are willing to pay for your apparent embarrassment for being rich – when you stop buying!”