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tagman787

Dec 25, 2009, 3:36 PM

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3 mos to travel, looking for retirement on soc sec

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Hi, I'm John and my wife and I are going on a 3 month tour of mexico with our jeep and small camper. Our goal is to find a small place to buy so we can retire in a couple years. In a perfect world we would prefer to spend $25 k or under, live in a mountainous area ( we live at 7000 ft in Colo now) and be able to exist on under $1500 per month. We have lived rural most of our lives so big cities are not important. We need suggestions on where to explore. Any ideas? John

tagman787

Dec 26, 2009, 5:55 AM

Post #2 of 12 (6709 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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I should add that as a lifetime homebuilder I plan on buying a fixer upper. I have mucho experience in concrete and ceramic. John

jerezano

Dec 26, 2009, 6:55 AM

Post #3 of 12 (6698 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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Hello John,

You might consider the high valleys around Saltillo, Coahuila. There is a small burg named Huachachil in the apple orchard
country up the Los Charcos Canyon (near the summit of the quota from Ramos Arizpe to Matehuala highway). You should
be able to find a place at your price on land not suitable for apples. Or a bit earlier near Los Lirios etc. Those altitudes while
not at 7000 feet ought to be around 5000+ feet. I don't know if you can find them on Google Earth or not.

A bit drier and perhaps not so pricey might be around Galeana at the top of the San Roberto Canyon on the highway from
Linares to the Ramos Arizpe to Matahuala highway.

Both locations can be reached in one day from the USA border (Hidalgo-McAllen, Texas or Laredo, Texas) by car.

Somebody has mentioned the problem of ejido land in small burgs. Usually once a town reaches sufficient size, the properties
have been converted from ejido to fee simple. But be sure and check. Ejido land has many problems. Ejidos are cooperatives
and as memberships require permission from the members to join. Even then there are usually many restrictions.

Enjoy your 3 month tour of Mexico. jerezano.

(This post was edited by jerezano on Dec 26, 2009, 6:59 AM)

sparks

Dec 26, 2009, 7:28 AM

Post #4 of 12 (6678 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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Rent, rent, rent until you know the area inside and out. Country property may well be Ejido and you would need a Presta Nombre (Mexican borrowed name) to control but not own it. Some Ejidos are much better than others as far as respecting a Presta Nombre and Power of Attorney (carta de poder)

1500 a month may not be enough to qualify for an FM3 (depending on exchange rate), owning a home may not result in a reduction of your income requirement ... and Ejido land will not qualify you at all

Sparks Mexico - Sparks Costalegre

tagman787

Dec 26, 2009, 7:52 AM

Post #5 of 12 (6669 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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Thanks for your replies, We will certainly rent for a while in any area we find to settle. We will need to sell our home in Colo before we can purchase any property. Being from Colo we have only spent time from puerto penasco to bahi de kino. We have flown to various tourist destinations and know that these are not the places we want to live. We are definately going to ck out the Sautillo area although we don't mind being 2 or 3 days from the US. We have so much to learn but that is why we are going on this 3 month adventure. Keep your suggestions coming, we need all the input we can get. John

Peter

Dec 26, 2009, 10:22 AM

Post #6 of 12 (6624 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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$1500 a month is completely reasonable to live on in many places here, especially if you have a bit of savings to fall back on and a bit to spend on getting settled. The only problem is that it may not be enough for two people to qualify for their long-term visas. It is in the right ballpark though and just a bit more would probably put you over the hump.

You may find a complete change of lifestyle here is what you will prefer, just be open to other ideas that what you now imagine. Most seem to find themselves living quite differently now after a few years and being quite happy than what they first had in mind and trying that. A large city here can have a very "town" feel to it and rural living here is just not the same.

Many places in the central highland have very mild climates and may satisfy your desire to live in mountainous terrain while on or near the coast can be hotter than blazes. You might find your ideal place being closer to a 3-4 day drive but many of those mid-sized cities have international airports and it comes to a 3-4 hour flight back to the US. Such is so where I live in Michoacán.

A good question to ask you is, how is your Spanish? If not great then you may need to settle first in an area where there is a large expat community until you come up to speed. These are not "tourist" spots but places like Chapala/Ajijic. If you are considering going rural you need to have some Spanish skills or know some people there already.

A good many people find Mexico a wonderful place to retire, there seems to be someplace that is just about right for just about everybody. But what many have found is that what is right for you may be something completely different that what you now have in mind, and it may take a few years to discover that.

nopogayle

Dec 26, 2009, 10:43 AM

Post #7 of 12 (6613 views)

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Re: [Peter] 3 mos to travel, looking for retirement on soc sec

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Peter, et.al ...

I read a forum thread last summer where people from several towns/cities in Mexico posted average monthly expenses. That was extremely helpful in evaluating whether or not I could live there 'comfortably'. I would take local transportation, shop at markets, go 'native'. I would ask that someone start that thread again for the current time period? A listing of every item needed to LIVE would be great (bottled water, propane, etc.)

My spanish is fairly fluent (definitely needs daily practice), have lived briefly in Mexico as a teen, have visited over the years but only to resort areas, love everything about Mexico - especially the people. I have friends who are building a home in Oaxaca out in Teotitlan and they love the high desert area. My plan is the coast in winter, inland in summer - renting for the first 2 or 3 years (or longer, maybe never owning a house again, for that matter). I'm still working here NOB, but my friends say I'd live 'LIKE A QUEEN' on $5000/month pension. It scares me that it won't be enough for 2 people.

Thoughts?

Rolly

Dec 26, 2009, 11:00 AM

Post #8 of 12 (6603 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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The monthly income requirement for an FM3 is 250 times the basic minimum wage. This is for ONE person. For a dependent (spouse, child) the amount increases by 50%.

For 2009 the minimum wage is $54.80 pesos, so the monthly income requirement is $13,700 pesos. The government has announced that the basic wage will increase by 4.85% beginning 1 Jan 2010. Thus the monthly requirement in 2010 will be about $14,365 pesos. A married couple will need to show a monthly income 1.5 times that -- about $21,546 pesos. If we assume an exchange rate of 12.5, the dollar requirement will be about $1,724 dollars for a couple.

You said you might move in a couple of years. By then the income requirement is almost certain to be higher because the government increases the minimum wage by a small amount each year.

Not all Mexican consulates or INM offices within México adhere strictly to these minimum requirements. Some offices will use a lower figure, some will require more. Who knows what exchange rate they may use?

The bottom line is your monthly $1,500 is not likely to get you an FM3. You can still come as a tourist (FMT visa), but you will have to drive back to a land border crossing every 180 days to get an new FMT and a new vehicle permit.

If you own your own home, you may be able to get a 50% reduction in the income requirement. This optional reduction can only be granted at an INM office in México. If you really plan to buy, come as a tourist, buy your home, and then apply for an FM3.

You will find more information here: http://rollybrook.com/...o_move_to_mexico.htm

Rolly Pirate

(This post was edited by Rolly on Dec 26, 2009, 11:10 AM)

wendy devlin

Dec 26, 2009, 11:58 AM

Post #9 of 12 (6581 views)

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Re: [tagman787] 3 mos to travel, looking for retirement on soc sec

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Below is an archived thread, from a discussion between Aug/-Oct. 08 detailing processes and pitfalls regarding the purchase of ejido land. In my opinion, a must read. Wendy

http://www.mexconnect.com/...t_reply;so=ASC;mh=25;

RickS

Dec 26, 2009, 12:01 PM

Post #10 of 12 (6581 views)

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Re: [nopogayle] 3 mos to travel, looking for retirement on soc sec

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Gayle, with $5,000/month you won't have to worry about itemizing 'every item needed to live', as that would be a waste of 'our' time and yours! With that level of pension and especially if you are going to 'go native', your biggest problem will be finding a bank large enough to store your unused income..... :>)

(This post was edited by RickS on Dec 26, 2009, 12:02 PM)

sparks

Dec 26, 2009, 12:03 PM

Post #11 of 12 (6579 views)

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Re: [nopogayle] 3 mos to travel, looking for retirement on soc sec

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>>>> 'LIKE A QUEEN' on $5000/month pension. It scares me that it won't be enough for 2 people.

That's enough for a family of ten .... and you sure don't need an itemized list of living costs with that

The easiest way to boost your income to meet FM3 requirements is to transfer from a second account for the 3 months previous to your application. Similar to "bill payer", it's free, online and you can transfer back and forth

Sparks Mexico - Sparks Costalegre

sparks

Dec 26, 2009, 12:43 PM

Post #12 of 12 (6553 views)

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Re: [wendy devlin] 3 mos to travel, looking for retirement on soc sec

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Excellent thread Wendy and I don't want to clutter it up at a late date. However it kinda left you with the fear of god when it comes to a Presta Nombre and Power of Attorney.

I was able to transfer/change my Presta Nombre without the consent of the original but with the help of the Ejido, their lawyer and Notario #1 (and more than pocket change). They ruled that by signing the Power of Attorney the original had given up all rights.

Sparks Mexico - Sparks Costalegre