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Retire in Mexico: Why Baby Boomers Are Attracted to Mexico

11 April 2008 919 views 2 Comments

By: Charles Sipe
Many Baby Boomers are excited about the possibility to retire in Mexico, and the transition is becoming easier than ever. Real estate and health care in Mexico are much cheaper than most of America and may be a key to reducing the stress on the US economy and health care system from the huge numbers of aging Baby Boomers. There are several reasons that Mexico is a great place to retire: Mexico Offers Seniors Increased Buying Power Real estate is a great bargain in many parts of Mexico, especially the less developed areas. This can help seniors make their retirement dollars go a lot further. Most everyday items are a fraction of the cost of their US counterparts in Mexico. In addition health care, which is one of the biggest expenses for Seniors, is much less expensive in Mexico. In 2006, Fidelity estimated that the average couple would spend $200,000 on out-of-pocket medical expenses during their retirement. This could force retirees who didn't save enough to seek health care in Mexico, thus creating a huge export market for Mexico's health care industry. Retired Americans are also eligible to receive their social security benefits while living abroad. (1) Mexico Has Relatively Strong Infrastructure Mexico has a good telecommunications infrastructure thanks to $60 billion dollar man, Carlos Slim, the telecom mogul who has a virtual monopoly on telecommunications in Mexico. The infrastructure is more established in popular tourist destinations and places where Americans have been settled for the past few decades. Mexico is a Hop Skip and a Jump Away from the US Mexico has the benefits of a exotic island like a hot sunny climate, a foreign culture, and beautiful ocean views without having to be a million miles away. Part of the allure of living in Mexico is that you don't have to take a long international plane flight to visit friends and family in the state, but can easily drive to the US if you miss it. As more Americans look to retire in Mexico, there is great promise for strong growth in the Mexico real estate market.

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