The Baby Boomers are coming! Over 76 million babies were born between 1946 and 1964. So today the first wave of boomers are 63 years old and they are on the brink of retiring. Some experts predict a vast migration to warmer and cheaper climates. And Mexico is where the majority of them will be going!
They can’t afford to stay in the U.S. It is sad, but true. The recent economic breakdown in the U.S. has propelled boomers to think clearly about what is important to them and to be creative about how they can stretch what is left in their IRAs.
Let’s face it:
*Housing costs are a dream come true.
*Property taxes in Mexico are equivalent to the cost of two nights out on the town in Cleveland or Seattle.
*Rarely in Mexico do people have heat or air conditioning
*In most communities in which Americans are settling there is no need for an automobile.
*Low labor costs reduce anxiety. Your computer is down? How about $17 per hour to have it fixed? You need help cleaning your garden or doing all the chores you hate? How about $3 per hour for a wonderful, competent helper who will be grateful for the work?
*Fruits and vegetables are gorgeous, fresh and inexpensive. Flowers, too!
Climate is the second biggest draw for Boomers to move to Mexico. There is sun almost every day. No snow. No snow shoveling. No raking leaves. Flowers everywhere. I rest my case.
The modernization of Mexico is another draw for retiring in Mexico. Life in Mexico is now more appealing with the amenities of the first world: WiFi, satellite TV, cafes with latte and cappuccino, interesting restaurants—all of these amenities are in communities where expats congregate.
Isn’t it ironic that as Mexicans cross the border in search of a better life, Americans are doing the same-except they are going in the opposite direction!