Introduce Yourself to the Forum A good place to "dip your toe in the pool". Let the other forums know your connection/interest in Baja... |
03-27-13, 11:20 PM | #21 |
Join Date: 03-19-13
Posts: 18
|
Re: Hi Baja Folks!
BTW, unless you (not you, specifically expect your retirement to last longer than about 20-22 years, generally overall you are better off taking the lower SS amount as soon as possible. In my case it will even out at 22 years. I figured this out on my own and then confirmed it with my financial advisor. You should do the same!
|
03-28-13, 01:33 PM | #22 |
Join Date: 05-24-09
Location: La Paz
Posts: 1,682
|
Re: Hi Baja Folks!
MY retirement damn well better last longer than 20-22 years.....since I've already burned through 15 years of it!! But I figure my chances of success are pretty good since I come from a long-lived line.....at least on one side.....great grandmother made it 3 months past her 100th, great aunt beyond her 106th & Mom's still raising hell.....she turns 96 in April!! Isn't it interesting that it's the female of the species who apparently have the strongest tenacity!
I think I've already outlived my former financial advisor! Yes, owning versus renting is a huge financial advantage. But then, there are some really small places (average 600 - 1,000 sq ft) around here that you can rent on a long-term (1+ year) basis for around $2,500 pesos a month.....if you don't haul a lifetime's accumulations of possessions & furnishing down here with ya! Happy research & planning! |
03-28-13, 08:41 PM | #23 |
Join Date: 12-30-10
Location: San Juan Island, WA
Posts: 226
|
Re: Hi Baja Folks!
Does anyone know if there's a way to work around the minimum pension income requirement? Does owning a home in Mexico help by lowering the monthly amount we need to show coming in?
We will have some supplimental income,over and above SS, but it is from a rental and perhaps our carrying a note when (and if) we're able to sell our business. Not sure if those sources will meet the requirements? A little help? Thank you!! |
03-28-13, 10:43 PM | #24 | |
Status: Moderator
Join Date: 02-19-10
Location: Rosarito Centro
Posts: 1,263
|
Re: Hi Baja Folks!
Quote:
__________________
"Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has." Margaret Mead to JFK (maybe) |
|
03-29-13, 09:25 PM | #25 |
Join Date: 05-24-09
Location: La Paz
Posts: 1,682
|
Re: Hi Baja Folks!
Islander, as Woooosh said, property ownership is one way & sadly.....for you.....the only other I've heard rumblings about is to have entered the Residente Temporal or Residente Permanente process before the new rules were implemented in November; there have been a lot of comments posted to various Mexican forums to the effect that people who were already mid-stream in the Residente Temporal or Residente Permanente process prior to the new requirements will be grandfathered in against the old monetary requirements.....thank GAWD!! If I find that not to be true this coming November, I'll be sure to let you know my forwarding address.....in the states!
|
03-29-13, 10:30 PM | #26 |
Join Date: 01-17-10
Location: Mission Viejo
Posts: 2,523
|
Re: Hi Baja Folks!
Gee, isn't retirement such a happy care free time
__________________
Suicide hot line... please hold |
03-30-13, 07:02 PM | #27 |
Join Date: 03-19-13
Posts: 18
|
Re: Hi Baja Folks!
Ha ha! Thanks, LL. I figure that with my lifestyle (smoker, drinker, red meat eater) I'll be lucky if I make it to 80. I guess I could clean up my act but after watching my folks slowly deteriorate I'm not sure that I actually want to live that long!
|
03-30-13, 08:20 PM | #28 |
Join Date: 12-30-10
Location: San Juan Island, WA
Posts: 226
|
Re: Hi Baja Folks!
Thank you Wooosh and LongLegs for your answers and insights.
I guess I'll have to deal with the reality I face when I get there. I won't have a large enough pension, that's certain, but we may have other sources of monthly income. The only question is whether or not those other sources are acceptable to the Mexican authorities. Also, the home we're interested in is about half the value needed to qualify for the investment exception. So, ......? |
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Heads Up Southermost Folks! | longlegsinlapaz | Baja Roads, Weather & Services | 1 | 10-03-11 10:13 PM |
U.S. Federal Benefits Outreach....For true Southern Folks....La Paz & SJD & CSL | longlegsinlapaz | General Discussion | 8 | 07-27-11 12:31 AM |
Hey folks | soulpatch | General Discussion | 15 | 07-12-11 05:27 PM |
Hey baja folks :) | Jaybo | Introduce Yourself to the Forum | 19 | 03-30-10 10:04 PM |