Mar 15, 2009, 11:04 AM
Post #4 of 22
Rolly's site has a wealth of information about moving/living in Mexico. Read it thoroughly. Also, since you have a long horizon before you retire here, read some old posts on this site. How? At the top of any forum you will see a SEARCH POSTS function. Click on it and then enter what you are looking for ( "FM3 Requirements" for example ) in the SEARCH STRING area, then click on SEARCH. This will give you any/all past posts that had anything to do with "FM3 Requirements" for example. (caveat: some posts are old... see the date... and the info might be outdated... i.e. the FM3 Requirments may have changed some from 2003 if that is the date of the past post).
Some quick answers:
Is this enough to qualify for the visa? The requirment for an FM3 is 250 times the daily minimum wage in Mexico City..... currently 54.8 pesos; or about 13,700 for an FM3 for one person.... plus 50% more for the second person, thus 20,550 pesos for the two of you. Different consulates require 'slightly' different amounts and the pesos/dollar rate changes so..... it would appear to me that you are cutting it very close with your $1200 & $40,000, even at today's astronomical peso/dollar rate of around 14.5 to 1. If it were around 9-11, as has been more the norm over the last years, you wouldn't qualify without 'claiming' a very large portion of that $40k each year (20,550 divided by 14.5 = $1417/mo; divided by 10 = $2,055).
Also, would I be better of driving or flying once retirement comes? That of course is up to you. If you are just concerned about bringing a 'few' things like kitchen equipment, clothes, computers, knick-knacks etc etc and not a bunch of furniture and a 'wood-working shop', you could easily bring that down in your car without any or much trouble nor cost. Once here, you don't ever 'need' to pay any car registration/plates/taxes etc. You can keep your old (expired) US plates forever (but you can't sell that car in Mexico).
Cost of Living Estimates Almost impossible to tell since your idea of a 'living standard' and health status is unknown. COL is higher in Ajijic than other outlying villages and even Chapala. You can rent a place, depending on your needs, from $400/mo. up to and well over $1500/mo. Maybe a a good average is $700/mo. If you need to buy a lot of imported U.S. things/food, you'll pay more than you will in the US for them; much less, 'tho, if you buy 'equivalent' things made in Mexico. There are lots of fresh veggies, etc. sold at the weekly markets, and fairly inexpensive too. Dental costs are paltry.... I paid over $1,000 for a crown in the U.S. but my Mexican Dentista in Ajijic charges $1400 pesos ($100 bucks at today's peso rate!). Some medications are cheaper, some are higher; some things that require a prescription in the U.S. are over-the-counter here. Some aren't available. Doctor visits are cheap ($25?). IMSS, a form of Mexican medical care, is cheap and would be available to you 'after a couple of years'. Gasoline is about $2/gal at today's exchange rate and goes up a minuscule amount (annually/monthly?) . Electricity is kind of pricey, but you won't need air conditioning nor (much) heat in the winter. Propane maybe $35/mo. Internet around $40/mo., TV the same or less if you get Mexican cable.
Hope this helps.....
(This post was edited by RickS on Mar 15, 2009, 1:38 PM)