2008 marks the beginning of an anticipated wave of retirements by those people known as “baby boomers.” Retirement is a complex decision, based on many factors; health, lifestyle, retirement savings, work history and experience, and the age of children in a family are just a few things that must be accounted for when planning for retirement. With so many workers planning to retire in the coming years, people are now beginning to evaluate their retirement strategies and how they can best meet their retirement goals. A growing trend among the soon-to-retire is retiring in Mexico.
Mexico has surpassed Panama as the world’s favorite retirement destination for a reason! First, retiring in Mexico is attractive to US citizens because Mexico is so close to the US. Prime retirement destinations, like Puerto Vallarta, are within a few hours’ of air travel of many major US cities. You can find daily flights from Puerto Vallarta to just about any major city in the US, Europe and Asia.
Retiring in Mexico is also attractive because the cost of living here is much lower than it is in the US or Canada. European retirees are at a major advantage because the Euro is so much stronger than the peso. Everything seems like a bargain here!
Factor in the side benefits, like high quality medical and dental care, low-cost prescription drugs, affordable personal assistance with tasks like laundry, meals, and landscaping, low gasoline costs, and low taxes, that make retiring in Mexico so attractive and you’ll see why so many people are moving here.
Currently, about 50,000 Americans have chosen to retire here in Puerto Vallarta, and many Europeans and Asians are purchasing land here because they plan on retiring in Mexico, too! If you spend six months per year here for five consecutive years, you’ll also be extended “resident” tax status, which significantly lowers your taxes, although we’re sure you’ll find non-resident Mexican taxes to be a fraction of what you’re paying now!
Retiring in Mexico is easier than it has ever been, and you can buy property with a significant investment potential for a fraction of the cost of comparable real estate in the US or Europe. As you plan for your retirement, you’ll find that adding Mexican real estate to your portfolio will be both a wise and profitable move.
If you’re ready to explore the investment potential of real estate in Puerto Vallarta, please contact a Select Mexico Properties sales representative today. Let us show you how a purchase of Puerto Vallarta real estate can help to secure your financial future.
Photo Credit: Craig Jewell
Relevant Tags:mexico retirement, puerto vallarta, retirement destinations, retiring in mexico
