6 Best, Most Affordable Places To Retire in Mexico
Retiring comfortably in the U.S. is far from guaranteed, but is that the case south of the border? While more and more people are struggling to reach their retirement savings goals, it raises the question of where they can afford to stop working and live off of their nest egg.
While there are plenty of ways to boost income, not everyone has the time or assets needed to close the gap. After decades of work, few people want to spend retirement scraping by, which is why Mexico has emerged as one of the best and most affordable places to retire.
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With its low cost of living, excellent healthcare, established expat communities and warm climate, Mexico offers retirees the chance to stretch their savings while enjoying a high quality of life. Here are six of the best places to retire in Mexico if you're ready to stop working and start enjoying life.
1. Mérida
Estimated cost of living per month (USD): $1,200 to $1,600
Often considered the safest city in Mexico, Mérida (Yucatán) offers a high standard of living, excellent healthcare and a blend of colonial and Mayan culture. It definitely wins if you want a mix of culture and conveniences in your retirement. It has everything from modern grocery chains like Costco to popular restaurants like Chili's so you won't get too home sick as an expat.
2. San Miguel de Allende
Estimated cost of living per month (USD): $2,000 to $3,000 per couple
Though it's inland, many Americans who choose to retire in Mexico opt for San Miguel Allende. They love its thriving art scene and temperate climate all year round, along with its low-cost and high-quality healthcare. The town is full of doctors, dentists, artisans and clinics that are well respected with a world-class food scene to boot.
3. Mazatlán
Estimated cost of living per month (USD): $1,300 to $1,600 per couple
Financially savvy retirees looking for a lower cost of living as well as the perks of a resort area often choose Mazatlán, which happens to be on the Mexican Riviera. Joe Cronin, president of International Citizens Insurance, said, “It’s one of the safest places in Mexico. It has great beaches, exciting activities and expansive cultural amenities.”
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4. Puerto Vallarta
Estimated cost of living per month (USD): $1,300 to $1,600 per couple
If you are searching for a seaside expat haven, a top choice for retirees is Puerto Vallarta. It offers a resort-city feel with modern amenities, direct flights just a few hours from the U.S. and a diverse community. You'll see why in the last 60 years it has gone from a small Mexican village to a popular international resort.
5. Lake Chapala
Estimated cost of living per month (USD): $1,200 to $2,000 per person
Even though it has pretty stiff competition on this list, Lake Chapala (Jalisco) still offers not only Mexico's largest lake, but also the world's largest U.S. and Canadian expat community. That is more than likely thanks to its spring-like weather, ample affordable real estate and a supportive, slower-paced lifestyle.
6. Oaxaca
Estimated cost of living per month (USD): $900 to $1500 per person
There is no shortage of charming colonial architecture that feels more like Mexico than spring break than Oaxaca. It offers a moderate climate, cheap and cheerful prices, snappy flight connections to the States and high-quality healthcare.
In its bustling and vivacious Centro, you'll find colorful clothing and wares from the various indigenous groups that call the area home. This city is surrounded by mountains, making for a stunning backdrop and plenty of opportunities for adventure.
Nicole Spector contributed to the reporting for this article.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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