Move to Mexico? $2k a Month?

Dear Billy & Akaisha,

My wife and I have become enamored with the idea of moving to Progresso, MX when we are retired (5 more years for me). We are very much homebodies, that like to eat the local cuisine when we travel. Mexico has always been one of our favorite places.

Naturally we would rent first to ensure this is where we would like to relocate to. Our preference would be to live on the beach as opposed to living in Merida or another large city, nightlife is not a factor. We really enjoy each other’s company and don’t need to be entertained..

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I have been reading extensively about Mexico for the past few years, so I’m comfortable with the healthcare, shopping and home buying aspects of this move. My wife does have a hard time believing the statements about living well for $2,000.00 a month though.

We would appreciate very much any input from you regarding Progreso.

Thanks and happy travels,
Trevor and Carrie

 

Hi Trevor and Carrie,

Thanks for taking the time to write. We appreciate it!

Billy and I visited Progresso earlier this year.  There is an Expat Community there but we didn’t stay long enough to really check it out thoroughly.

The area of Progresso where we wandered around is was fairly touristy with prices reflecting that focus. We could easily have gotten items (lunch, a beer, a massage, souvenirs) at half the price at other locations in Mexico. But just like any place, once you get to know the ins and outs of your location, you find the best places to buy your staples.

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Unless you have your heart set on Progresso, you might try researching other beach locations like Tulum (where you can purchase a brand new condo for $25k USD) or Caleta de Campos, Puerto Escondido or even Zihuatanejo.

Your idea of renting first to be sure you like a location is excellent. There is nothing like living in a town to determine whether or not you would want to be there full time. And once you get into the swing of things, your options open up. Not making a permanent choice for the location of your retirement home right off the bat is a good thing. Take your time.

RE: living on $2,000 a month – of course that is entirely up to you. It is absolutely possible however, the more you try to import an encumbered life from North of the Border to Mexico, the more money you will spend to maintain it.

Remember the categories of highest spending are housing, Transportation, Taxes and Food. If your $2,000 a month budget is eaten up by your house obligations, your car maintenance, insurance and fuel and your desire for eating in only Gringo locations, you will not have any money left over for travel, entertainment, gifts or anything else.

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And of course, those choices are entirely up to you. If you are keeping your Cost Per Day average current, you will know in what categories you must cut back, if you want to keep that goal of $2k a month.

Stay flexible and open minded and you will find that you can manage that amount per month easily without feeling any hardship.

I hope this information helps you and please do feel free to write any time with your questions.

Best,
Akaisha

About Retire Early Lifestyle

Billy and Akaisha Kaderli retired two decades ago at the age of 38 and began traveling the world. As recognized retirement experts and internationally published authors on topics of finance and world travel, they have been interviewed about retirement issues by The Wall Street Journal, Kiplinger's Personal Finance Magazine, The Motley Fool Rule Your Retirement newsletter, nationally syndicated radio talk shows and countless newspapers and TV shows nationally and worldwide. They wrote the popular books The Adventurer's Guide to Early Retirement and Your Retirement Dream IS Possible.
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