Dec 27, 2010, 1:14 PM
Post #6 of 30
This is going to make my next FM2 renewal an interesting experience. Just using a rounded 24,000 pesos per month and a sort of average exchange rate of 12 pesos to the dollar, this is almost US $2000 per month. (Sure shoots a hole in those arguments about living in Mexico on US $500 a month, doesn't it? [Rhetorical question].)
Re: [Rolly] 2011 Minimum Income Required for FM3 and FM2
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I don't make that much per month, so I wonder...what will happen to me and my house here?
Should I expect to be denied a visa renewal? Maybe the local INM would take into consideration that I own, outright, a house here. I really think these amounts are what they expect foreigners to spend in the economy, not a guideline of any sort, for what they think it will cost us per month to live here. Either way, I will not be in compliance.
Will I get deported when I go in to pick up my renewal and find I have been denied?
Will I have to go back to an FM3? Would they permit that?
Maybe it is time to get on the FMN (is that the right acronym for the so-called "Tourist Visa"?) bandwagon.
So, in less than three years I have gone from being told $1000 a month will be required, but it can be done on $500, to a new requirement close to $2000 per month. If the requirement is going to double every three, every five, even every ten years, I will soon run out of all possible options to live here legally.
Add to that the new realization that I would lose 32% of the equity in my house if I could ever find someone stupid enough to buy it, and soon the whole proposition (Retiring in Mexico on Social Security) becomes a real joke. Not that I ever believed it could be done on MY Social Security, alone, but I sure as hell didn't expect the requirement to double in three years. (I admit I switched from an FM3 to an FM2, so that accounts for part of the increase).
I hope some people out there thinking about retiring to Mexico will find these posts and be able to apply these facts and data to their decisions. That is why I am posting about this...I know I am going to catch hell from the usual apologist suspects among you for making these unhelpful remarks. But if I had known these things three years ago, I would still be working in California. Live and learn. Though I don't really have enough time left to be able to use this learning experience in any really directly applicable way.
Considering how many times I have been asked to show a visa of any kind in Mexico in the last five years, I might just become a reverse wetback...without involving any actual rivers.