On one of the forums I frequent, I was told straight up that I could not afford to retire to Mexico, and that rather than fantasize and obsess, I should engage my energies in improving my situation here north of the border.
Deep down I know that person is right. I just am lost right now. Almost 48, with 20,000 in my IRA, 45% of my gross income going to pay for health insurance and mortgage, no extra money leftover to save for retirement, 28 years left to pay on my modest 1800 sq ft house, and no prospects of a hike in income, all have combined to put me in a real funk.
I know I am better off than most of the people my age, so I really worry about them.
I am starting to realize not only that retiring to Mexico is probably not possibe, just retiring, PERIOD is probably out of the question for me. If I stay here, I will be 75 when my mortgage is paid off, so I will be at least 75 before I can stop working. I figure I will have 5-10 years left on this earth at that time, assuming I make it to 75.
I am really depressed. I need some advice pretty bad on this stuff.
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Mike, I don't know you and have no dog in this fight, but I'm going to try writing you again (never heard after posting below, on 29 May). I refuse to let people take other people's dreams away. I lost everything after 9/11 ... and now am buying a house in Merida. Don't tell me it's not possible. No, I'm not selling anything. Let me know if you want me to run some ideas past you off this blog.
ReplyDeleteSounds good, Sharon! Thanks. Let's do that.
ReplyDeletePlease do not let something like numbers get you down! If your dream has been to retire in Mexico, then you should do it. I know a lot of people who have retired and are living here with limited income. And they couldn't be happier!
ReplyDeleteWe didn't move here to retire, but we moved here with only 1,000 dollars to our name. It was just the amount needed to start our own business. We may not be rich, but we are very happy!
I wish you the very best!
Thanks, Leslie!
ReplyDeleteMy wife and I are working through how it's going to happen. We are in total agreement that we would even live in an Airstream-type trailer if that meant we could retire at 62
Mike, can't remember if I sent this to you or not. But your comment re Airstream made me think of it. As they say, everything's possible:
ReplyDeletehttp://palapalife.blogspot.com
Sharon, looks pretty cool. I found a thread on playa.info from someone who lives there. Those palapas are not cheap! 60k and up. Pay about 7k to lease the land they are on, but that does include utilities.
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