How much money do you need to retire? While many people seem to think it's up around $1,000,000, there are more and more experts focusing on the possibility that you can retire comfortably with considerably less; and, in fact, if you consider a Mexico retirement, it becomes much easier to plan for a comfortable retirement on less. Or, on the other hand, if you have that million in savings, it will get you that many more little luxuries in life. In either case, either budget includes year-round warm weather, for free!
Considering retiring in Mexico you will see that retirement in Mexico will help significantly in planning your budget, with both less expensive real estate prices, and a lower cost of living, and make for a more comfortable lifestyle in general.
A favorite for American and Canadian retirees is Lake Chapala real estate. Homes in the two towns of Chapala and Ajijic ideal for retirement typically start around $150,000; while some homes can also be found for less, there are also mid-ranged and high-end priced homes offering greater degrees of luxury, larger lots, etc. Whichever price range you buy in, retirees will enjoy very pleasant weather, yacht clubs, social clubs (the large number of expats who already live here have brought several U.S. clubs with them,) quaint little villages on the lake shore, lush, green natural surroundings, perfect for a relaxing bike ride, or sight-seeing tour, and much much more.
One expert on retirement describes three financial tasks for retirees; the first task is to cover basic needs, such as food and healthcare. In the Lake Chapala area, shopping expenses will be noticeably cheaper (as in much of Mexico) and excellent healthcare is available in these communities for low prices. Even for larger procedures, Lake Chapala is only about 1 hr away from Guadalajara, Mexico's second largest city, and one of the main focal points for "medical tourism;" in Guadalajara world-class healthcare facilities with state-of-the-art equipment, and highly trained doctors (who speak English) provide services for fifty to seventy percent less than in the U.S. The World Health Organization has ranked private Mexican hospitals on par with private hospitals in the U.S.
As for the second task listed by that same expert – non-essential enjoyment expenses, the lower cost of living leaves more cash available for these, which are also available at a lower price. The third task is planning; while planning is always easier when expenses are lower, the prices of Lake Chapala real estate allow retirees to buy ahead of time, making an income on renting the property out until the big day comes.
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Region: Lake Chapala Real Estate Jaime Niembro has served on the board as vice president and treasurer. He also is an active member of the AMPI association having served as president including the Chamber of Commerce. Jaime is the owner broker of Ajijic Real Estate. For more information (512)-879-6546.
