Mexico retirement is a great idea for American citizens who are brave enough to take such a dramatic but potentially rewarding step. Of course, it would not be a good idea to rush south of the American border into Mexico. Rather, it will be in the interest of the person considering the idea of relocation to learn some things about the country first before moving to Mexico for good.
From the point of view of economics, it has to be pointed out that Mexico is the 13th largest economy in the world. This country also happens to be the 11th largest economy in the world in terms of purchasing power. Still, retirement in Mexico can be considered a great idea because of differences between the American dollar and the Mexican peso.
It is important to note that the cost of living in Mexico has risen dramatically over the past decade. This is due to the influx of American companies into the country and the fact that the country is also developing very fast.
This development means a dramatic rise in the population of expatriates in Mexico and most of these expatriates happen to be Americans.
Advantages of Living in Mexico
Therefore, living in Mexico may not really feel like living in a foreign land. In fact, Americans do not need to give up their American citizenship in order to live in Mexico.
Of course, a working knowledge of Spanish will make things much easier. But then Spanish is spoken in some parts of America and most American children are taught Spanish in American schools. Language barrier does not really have to be an impediment to Americans who are considering Mexico retirement.
Risk Factors of Living in Mexico
There is nothing particularly dangerous about retiring in Mexico. The capital city of Mexico is Mexico City. It has a population of over 21 million people and like most big cities; it has a relatively high crime rate. Other places like Monterrey also have high crime rates. However, this fact does not make the country dangerous for Americans in particular. In any case, the some parts of Mexico like Guadalajara are quite safe. Another possible disadvantage of retiring in Mexico is that things may not always work as smoothly as they do in America.
In spite of all these, moving to Mexico is still a sound idea. Over six hundred thousand Americans live in this country and most of them are very happy. With a better climate and a lower cost of living, among other things, Mexico retirement is definitely a sound idea for Americans. More to the point, an American living in Mexico will not lose his or her American citizenship. Americans can simply live in Mexico as legal residents for as long as they want.
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