JUBILESE EN MEXICO
Nov 2, 2011, 7:20 p.m.
The Spanish word “jubilees,” which means “retire,” looks very similar to the English word “jubilant,” which means great joy and satisfaction...and that is exactly what many Californians are finding by retiring in Mexico.
Over the past decade, more and more Californians have made the decision to head south of the border for retirement, and while Mexico’s initial lure may stem from its offering of a relaxed and more affordable lifestyle, the country also offers fabulous year-round weather, historic culture, arts, sports and great food.
While recent news stories about drug-related violence have many Californians hesitant to even visit Mexico, much less move there, it is important to know that these problems are largely isolated to border cities, and do not affect coastal retirement areas.
If you have ever given thought of “jubilarse en México,” the following five things may just make the idea even more appealing:
UNO) In Mexico, the dream of having beachfront property with an ocean view isn’t just attainable, it’s affordable. Beachfront homes are approximately 50% less in Mexico than comparable homes in the U.S, and the overall cost of living is about 25% less in Mexico than in the States. According to a recent study, 44% of Americans residing in Mexican coastal communities said they live comfortably on less than $1,000 a month for household expenses. In California, a retiree would need between $21,000 and $27,000 a year to maintain the same lifestyle.
DOS) Through a trust agreement called a “fideicomiso”, Americans can easily own beachfront property in Mexico. The bank, as trustee, buys the property for the American and then has the fiduciary obligation to follow instructions given by the foreigner who is the trust beneficiary. The trust beneficiary retains and enjoys all rights of ownership while the bank holds title to the property. The American is entitled to use, enjoy and sell the property held in trust at its market value.
TRES) Mexico’s accessibility to Southern California is a major plus. It’s just a short plane trip to visit family and friends, and vice versa for them to visit Mexico.
CUATRO) Many people are very surprised to learn that Mexico offers high-quality healthcare that provides quality medical care from English-speaking physicians. Many hospitals in Mexico’s costal retirement areas also have a preferred relationship with local U.S. healthcare providers.
CINCO) While many retirees choose Mexico for its simpler lifestyle, it’s still important to many to have access to modern technologies such as television and the Internet. In Mexico, satellite TV can deliver plenty of American channels, high-speed Internet is readily available, and cell phone service abounds in most areas.
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