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Thought I'd introduce myself. I'm planning my retirement in La Paz and hope to meet many of you in...oh, about 4 years! I'm glad to have found this site!

Hi... we enjoyed visiting La Paz last summer... for a city, it was quite pleasant. Lots of La Paz and area photos in my July, 2012 trip report here.

La Paz is a great place to live if you don't mind the warmer summers. There is a strong expat community there, pleasant winters, good shopping, restaurants and fishing.

And welcome to the forum...

Welcome!

Originally Posted by KGryfon

Thought I'd introduce myself. I'm planning my retirement in La Paz and hope to meet many of you in...oh, about 4 years! I'm glad to have found this site!

to the board. Too hot is not a problem we ever have in Rosarito Beach. I wish... :)

I will take a look! Thanks!

Thank you! I've been to La Paz a couple of times...hot summers are a good thing!

I guess I didn't give much of an intro...Other than La Paz I've been to Estero Beach, Punta Banda, Rosarito Beach, and San Felipe, and took a bit of a road trip through Baja Alta once. I'm planning my retirement and looked at Baja, then Costa Rica took my fancy for a minute, then Progreso, MX. I keep coming back around to La Paz so I have made it my retirement goal. I plan on coming down next year for an extended trip to look around as a potential resident rather than as a tourist. In the meantime you are all making me check my retirement accounts daily to see if there has been an overnight miracle and I can leave even sooner!

Thank you!

David K, I looked but didn't see your La Paz trip photos! Nice site! I bookmarked it : )

Originally Posted by KGryfon

David K, I looked but didn't see your La Paz trip photos! Nice site! I bookmarked it : )

To really be his friend, you need to buy his book. (A must if you are interested in the history of the Missions for your road-trip to La Paz)

Hah! I'll keep that in mind

Originally Posted by KGryfon

I plan on coming down next year for an extended trip to look around as a potential resident rather than as a tourist. In the meantime you are all making me check my retirement accounts daily to see if there has been an overnight miracle and I can leave even sooner!

You might not necessarily need a miracle, it may already be built into the equation.....just hidden from view.....if you're using your NOB thought-processes based on your current NOB lifestyle!!

Look at your present monthly expenditures. How many of them are are strictly tied to your current NOB lifestyle & requirements? How many of them are work-related? Daily/weekly/monthly/annual outlay in gas, car maintenance, car insurance, licensing fees, uniforms or wardrobe required by your current job. What's your current outlay for utilities & what are they? Your profile here doesn't mention your current NOB location, but I'd be willing to bet that heating costs play a hefty role in your annual expenses. You can virtually wipe that one off the board & move that amount into the "Found Miracles" column right now! Most likely, car insurance will be more affordable SOB. What else is in your monthly expenditures that will either go away or possibly be more affordable SOB? Gasoline, for example is cheaper here, as is medical, most medications, dental, etc.

Do you plan to bring your present life-style intact across the border with you? If not, move any current outlay for membership fees, theater tickets, seasonal sporting events, union dues, mortgage, etc., etc., etc., over to the "Found Miracles" column!

Seasonal clothing requirements....heavy coats, boots, umbrellas.....move that amount over to the "Found Miracles" column!

When I lived in the US & was working, what I'd call a moderate, but comfortable life-style, it cost me approximately $3,000 USD month.....in La Paz, I own & comfortably get by on $1,000 - 1,200 a month.....without feeling deprived! For example, my US property taxes were around $3,000 a year.....here, for a comparable size home & much more laid-back, comfortable life-style, they're $1,012 pesos (approximately $97 USD).

Starting to get the picture? If you realistically envision your life-style changes & the associated costs, you just may discover that you're wasting valuable time & money by waiting.....in fact, you could quite possibly be reducing your financial coffers by delaying your move & spending more for longer, rather than moving sooner & reducing your outlay sooner.....i.e., the sooner you move, quite possibly the more you can start saving in pure cost avoidance!!

Will you be getting retirement/pension benefits at some point in time? Social Security benefits? Those amounts can actually be considered to be "raises" in your monthly income!

I know that this may be over-simplified & the examples I've used may not apply to you personally, but this was simply an effort to get you started in thinking of your own personal circumstances/requirements/wish list & get you to begin a shift in your thought-processes from NOB mentality to SOB mentality.

Maybe we'll be seeing you in La Paz THIS summer rather than next for your exploratory visit?

FABULOUSLY encouraging post! Thanks, Longlegs!

Originally Posted by longlegsinlapaz

You might not necessarily need a miracle, it may already be built into the equation.....just hidden from view.....if you're using your NOB thought-processes based on your current NOB lifestyle!!

Look at your present monthly expenditures. How many of them are are strictly tied to your current NOB lifestyle & requirements? How many of them are work-related? Daily/weekly/monthly/annual outlay in gas, car maintenance, car insurance, licensing fees, uniforms or wardrobe required by your current job. What's your current outlay for utilities & what are they? Your profile here doesn't mention your current NOB location, but I'd be willing to bet that heating costs play a hefty role in your annual expenses. You can virtually wipe that one off the board & move that amount into the "Found Miracles" column right now! Most likely, car insurance will be more affordable SOB. What else is in your monthly expenditures that will either go away or possibly be more affordable SOB? Gasoline, for example is cheaper here, as is medical, most medications, dental, etc.

Do you plan to bring your present life-style intact across the border with you? If not, move any current outlay for membership fees, theater tickets, seasonal sporting events, union dues, mortgage, etc., etc., etc., over to the "Found Miracles" column!

Seasonal clothing requirements....heavy coats, boots, umbrellas.....move that amount over to the "Found Miracles" column!

When I lived in the US & was working, what I'd call a moderate, but comfortable life-style, it cost me approximately $3,000 USD month.....in La Paz, I own & comfortably get by on $1,000 - 1,200 a month.....without feeling deprived! For example, my US property taxes were around $3,000 a year.....here, for a comparable size home & much more laid-back, comfortable life-style, they're $1,012 pesos (approximately $97 USD).

Starting to get the picture? If you realistically envision your life-style changes & the associated costs, you just may discover that you're wasting valuable time & money by waiting.....in fact, you could quite possibly be reducing your financial coffers by delaying your move & spending more for longer, rather than moving sooner & reducing your outlay sooner.....i.e., the sooner you move, quite possibly the more you can start saving in pure cost avoidance!!

Will you be getting retirement/pension benefits at some point in time? Social Security benefits? Those amounts can actually be considered to be "raises" in your monthly income!

I know that this may be over-simplified & the examples I've used may not apply to you personally, but this was simply an effort to get you started in thinking of your own personal circumstances/requirements/wish list & get you to begin a shift in your thought-processes from NOB mentality to SOB mentality.

Maybe we'll be seeing you in La Paz THIS summer rather than next for your exploratory visit?

Thank you LL, for your thought provoking post! We have actually made an offer on a home in Baja, and was thinking that we needed to be on a 5-year plan so I can retire with full SS benefits. Perhaps there's a way to get there a bit sooner.
Time to go back to excel and run a parallel budget for Baja life!

Gracias DebMer!

Islander.....think of "The Little Engine That Could"......"I think I can, I think I can, I think I can."....."I thought I could, I thought I could."

I KNEW I could!

Care to share which area you're going to call your home on dry land? One or the other of the "L" towns?

There's a worksheet page that you can go on the SS website that tells you your benefits eligibility & how much your monthly payments will be if your retire @ age 62.....65.....& various partial year/age increments in between! And don't forget that you'll most likely receive (small) cost-of-living increases on an annual basis. My first year was the FIRST year in "eons" that did NOT have an increase! But the following year made up for it!

Once you start analyzing your funds, maybe the $100 - $300 a month difference might seem like a nit in the overall scheme of things! Or possibly you can stretch your present finances to allow leaving SS alone until you hit 65 before you decide to draw. Look at both yours & S's....if there is a large enough difference between each of your benefit amounts, maybe think about starting on the one with the smallest difference/loss @ age 62 & leave the other/higher benefits account alone until it's eligible for maximum benefits. There are more possible options than most people think of, or may be aware of. You married folks have more possible options to play with!

LongLegs, It's still a bit early to share too much info about the house, because we still have to do an inspection and sign the deal. This all happens on April 13th, so after that I'll tell the story.

Our retirement financial planning is mostly reacting rather than actual planning. We have a couple of rental houses, but have to at least try and sell one of them at what I know is the very bottom of the market cycle in order to reduce our debt load. My thinking is that we have a chance of keeping at least one rental in retirement, but only if we can pay down our debts significantly while we're still running our business. The only way I can see doing that is to stop paying thousands per month in interest, and start paying the same amount against the outstanding principle.

Of course, if we could agree to live full time in Baja it would make a big difference, but so far mi esposa is not willing to consider doing that.

Perhaps after spending a few months at the new place she'll feel more confortable. She's concerned that if I "go" first that she'll be trapped in a relatively strange place far from old friends and family. My thought is that working this hard for another 5 years will pretty much insure that I'll "go" first!

I really appreciate your points LL, please keep it going! A lot of us admire you for what you've been able to do, and your views and advice are both helpful and encouraging.

Yeah.....the benefits of that dual income scenario, combined with wedded bliss, CAN occasionally be offset by the fact that TWO minds have to reach MUTUAL agreement!

No sweat on the house location, I was just curious.

The other questions I asked, I don't want, nor expect answers.....it's just my way of jump starting the thought processes in the fairly uninitiated. I've discovered that many people don't make any allowances for a myriad of potential life-style changes that naturally occur for most people. Many just expect to carry their current lifestyle over the border with them, without doing much/any research to discover the realities of cultural & climate differences. I've met several couples who moved down here lock, stock & barrel.....only to pack up their toys & decide this sandbox wasn't what they thought it was going to be & move back NOB.....within the first year!

Naturally, my personal situation & financial state are unique & most couples won't parallel my experiences, but I figure sharing my knowledge is a good way to start nudging them toward discovering the realities of a huge lifestyle change & once they start doing some research, they'll hopefully discover additional things which apply to them that I didn't experience.

Having met you guys, I'm confident that you'll do a thorough job with your due diligence! You each ask meaningful questions!

Slow down & take a little time to smell the roses & get that debt paid off.....pace yourself so you can both enjoy your working "retirement" together for the long haul!!

Thanks Legs ........ spot on

And, learned the "Little Engine that Could" from my mother when very young and applied the concept throughout my life ......

And welcome aboard KGryfon

Originally Posted by Woooosh

To really be his friend, you need to buy his book. (A must if you are interested in the history of the Missions for your road-trip to La Paz)

Now don't say stuff like that... you need to buy TWO!

LOL

Here is my 15 Days in Baja trip report from July 2012... CLICK: BAJA CALIFORNIA JULY 2012: 15 Days of fun! - TalkBaja.com

Thanks, LL! You make some excellent points! Part of the reason, I think, that $1000-$1200 works for you is that you own your home, yes? (I read your construction post I need 4 years to recoup the loss on my current home, assuming the market continues to improve at current rates. I'll then have money to buy a house, and my retirement and eventually SS. No spouse for a back-up plan here! I live in N. Ca and have re-done my budget based on what I know about Baja cost-of-living and lifestyle differences, excellent advice.

So, unfortunately I'm not making it down this year. Going to visit a sister and then taking a well-deserved and much needed solo vacation to the Keys to fish and scuba and drink rum drinks and just generally be a tourist. My folks just died within a couple of months of each other and I need some off time! Next year I will be in a much better place to start with a serious scouting expedition. In the meantime I can dream! Thank you for your thoughtful response; hope to meet you on my next Baja trip!

Thank you all for your warm welcome!