First things first, how is your nest egg looking these days? For most Americans nearing retirement, investments and pension funds have been greatly reduced over the last few years thanks to the financial and housing market meltdowns. So where does a Baby Boomer turn now when it’s time to retire and the funds aren’t what they used to be? There are a growing number of Americans and Canadians finding their way south of the border these days and it is with good reason. According to the folks at Gringos in Paradise it’s a move that makes real financial sense and the weather is great too.
Most people have a definite perception that life in Mexico is cheaper and it is for the most part. Excluding tourist zones like Cancun, Cabo San Lucas, Puerto Vallarta and other well traveled tourist areas, once you get outside those areas, even just a few miles, you will find the rumors of big savings to be true.
Food costs in Mexico as compared to the US and Canada are 30-40% less. Real estate in Mexico is also 20-40% cheaper in comparable markets and can be much better than that depending on location and title terms. Gas prices have also remained stable in Mexico over the last 4 years at just under $3 a gallon. Mexico has the world’s 3rd largest oil reserves and is a member of OPEC. There’s more to it than even those enticing savings.
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