Sales Manager / Retirement Consultant
Boomer in Mexico Coaching Boomers
About The Author:
Gretchen Ellinger considers herself blessed with the privilege of living and working Cholla Bay, which she thinks is one of the most inviting areas of Puerto Peñasco. As a respected Cholla Bay realtor since 2003, Gretchen has earned the respect of the real estate community, where it is known that she can be depended upon and trusted; her numerous clients have come to depend on her for experienced counsel and exemplary customer service. Gretchen bought her beach home, and then successfully processed her own title/bank trust. She owns and operates Casa Monica B & B in Cholla Bay, Puerto Penasco, Mexico, and aspires to speak fluent Spanish. BOOMERS RETIRING IN MEXICO - PUERTO PENASCO / ROCKY POINT IS A PLACE THAT MUST BE CONSIDERED
Retirement is a serious matter -- your choice of locale will be central to your happiness in your retirement years. Nice weather and ocean views, as well as activities and lifestyle are important considerations as you think about retirement home choices. Unfortunately, for most of us, another important factor is cost. Many Americans and Canadians, even those who have planned carefully and saved consistently for their retirement years, find the constantly soaring costs associated with retirement in the United States or Canada discouraging.
As retirement costs have skyrocketed, often to the point of causing people to postpone full retirement, many citizens of the United States and Canada have looked south, and found in Mexico uniquely appealing and affordable real estate ownership, investment, and retirement options. If you have not considered retiring abroad, we suggest you re-think, and give serious consideration to retirement in Mexico!
Affordable Real Estate: Why spend your retirement years cash poor? Your retirement home needs to be everything you want in a home, but its cost needs to bear an appropriate relationship to your overall assets, allowing you to comfortably afford the leisure activities you have earned. Quality-built Mexican homes are, without a doubt, dramatically less expensive than comparable homes in the United States or Canada. Countless statistics attempt to quantify this, but seeing is believing. There is a high likelihood that those reading this are not located in Puerto Penasco, also known as Rocky Point, Sonora, Mexico. We suggest you visit an AMPI brokerage, meet an agent, go shopping, and see how far your money will go in Rocky Point! www.century21penasco.com
Overall Cost of Living: Many daily expenses are far lower in Mexico than in either the United States or Canada. You will find wonderful fresh produce for pennies on the dollar, and here in Puerto Penasco / Rocky Point, exquisite fresh fish and seafood is readily available for a fraction of what you pay in the United States or Canada. Inexpensive meals at lovely seaside restaurants that would cost a fortune in California are the rule. The list is long, and now, notably, includes gasoline, which Mexico -- with its plentiful oil reserves -- has chosen to keep at a stable price throughout the wild price fluctuations experienced by Americans and Canadians in the past several years. In addition, property taxes, even on swank beachside properties, are a fraction of what they would be in the United States and Canada.
Political Stability: Over the past 20 or so years, Mexican leaders have worked hard to achieve political stability. Current President, Felipe Calderon, is a Harvard-educated economist, and a strong believer in open markets. His election in 2006 made him the second president in a row from the PAN "opposition" party to the long-ruling PRI party, and confirms Mexico's status as a healthy and vibrant multi-party democracy. There has long been political consensus across party lines that immigration by retirees is in Mexico's best interests, and as a result, Mexico has long been a "user-friendly" retirement destination for Americans, Canadians, and citizens of the European Union countries. Retirement visas are available with no complications.
Financial Stability: The Mexican peso is a fully convertible currency, is backed up by Mexican assets, which include oil reserves, gold, Euros and US Dollars, and has generally held its value against major world currencies over many years. US Dollar accounts are available from virtually every bank, and major international banks such as ScotiaBank Inverlat, HSBC, Santander Serfin and our close friends at Grupo Financiero Monex provide our friends retiring in Mexico with world-class financial services and account management tools.
Quality Medical Services: Mexico has long been a destination for quality dental care and affordable prescription medications, and Americans and Canadians are now discovering the excellent low-cost medical care that is available in Mexico. Puerto Penasco / Rocky Point is home to a number of excellent and affordable doctors and clinics. It is worth noting that there are medical insurance plans that are specifically designed to cover Americans who do NOT reside in the United States, and these plans are remarkably affordable compared to comparable coverage for those residing in the United States. Many of these insurance plans cover the cost of treatment in the United States if the patient chooses not to be treated in Mexico. A great deal of information about medical insurance for Americans living abroad, as well as online insurance premium estimating tools, can be found at globalinsurancenet.com.
Even if you are 45 years of age or younger, now is a good time to start thinking about retirement. I started this process years ago, and am now a happy owner of a beach home in Cholla Bay. I've encouraged my children to plan early for retirement, because it is never too early to start planning, and while on the one hand retirement may seem years away, on the other it sneaks up, and BOOM! It's here! Regardless of where you are on the road to retirement, some steps can be taken right now. It is never too early to shop for the community and home you know will be perfect for your retirement life. If you can buy, and perhaps even enjoy your retirement home part-time while you are still working, you will be perfectly positioned when that last day of work finally arrives!
For someone planning to retire today in Rocky Point, a property budget from $150K is perfect. Rarely has pricing and availability been kinder to buyers, and there currently exists on the market an abundance of exceptional properties at very competitive prices. If retirement is a few years away, a purchase now is a good idea for planners-ahead, too, even though they will have to wait to move to Mexico full-time. The plan may very well be to buy a home with savings, rent it, and let both rental income and appreciation of the value of the property improve the financial position. Once retirement age is reached, there will be options...move into the retirement home or sell the property and buy a better one!
It could be very useful to know that the strategy of purchasing with intent to rent, and a view to retiring either to that house or to another in the same community, even if that community is in Mexico, is exactly what self-directed IRA real estate investment is designed to facilitate. At our website, there is a number of articles and resources about buying Mexican real estate with IRA / 401(k) funds, notably "Buying Property in Mexico with Your IRA / 401(k)" by our friend Carl Fischer, Principal & Senior Self-directed IRA Administrator of Entrust CAMA. Beyond the use of IRA / 401(k) funds to invest in Mexican real estate, Century 21 Sun & Sand also offers a broad spectrum of services and advice for Baby Boomers retiring or planning to soon, such as helping foreigners to Mexico to buy Mexican real estate in their language, help with understanding the process of Mexican real estate purchases, introduction to the community, cultural advice, and "living in Mexico coaching" that will help you to enjoy you new life.
How to find the retirement home of your dreams? The main options are to go online and shop from the comfort of home, or tour the city on your own and chat with realtors and developers, keeping in mind that the agent representing the development works for the developer. These approaches are valid for early research, but when you are ready to seriously look at property with a goal of purchasing, make a point of selecting an agent from a well-known real estate company. Members of AMPI (the Mexican professional real estate organization affiliated to NAR and CREA) are qualified to represent you, and must adhere to the code of ethics for realtors. An expert realtor, with experience in Mexico, as well as expertise with retirement and lifestyle changes, will be able to protect your interests, and help you to choose the property that is truly the right property for you.
The precise completion of the documentation relating to your Mexican real estate purchase is the foundation of your ownership security. An excellent option is a retirement package that integrates a suite of services including bank trust, estate planning, IRA investment structures when required, medical emergency package, immigration processing and other services that you will make your retirement along Mexico's coasts effortless (Wouldn't you rather be at the beach?) and secure your investment for your children and grandchildren.
Many other parts of Mexico, such as Guadalajara, Chapala, Ajijic, San Miguel de Allende, Puerto Vallarta, Cuernavaca and Queretaro, have large flourishing retirement communities of non-Mexicans. Each of these vibrant communities offers a distinct lifestyle and unique investment/retirement opportunities, including the option of fee-simple ownership off the coasts. We are experienced in structuring real estate acquisition and retirement planning strategies in these markets, as well as in Puerto Penasco / Rocky Point. Whether you are interested in retiring on or off Mexico's coast, we are always available to answer questions you have about retirement in Mexico.
Note: Gretchen is always available to respond personally to questions or comments from our readers, and can be easily reached via email at email@example.com
A Happy Puerto Penasco Resident Says ....
What I Love About Mexico
Happy Monday! Yesterday afternoon, after work, was filled with friends sharing my beachside patio, delicious carne asada, tortillas, salsas, marinated onions, frijoles, coal-roasted potatoes, beer and CocaCola, rinsing sand off tired children, adults cleaning up in the dark, laughing and chatting in two languages. As I walked the beach along Cholla Bay's beautiful estuary this morning, I was thinking of how my life has changed since moving to Puerto Penasco 6 1/2 years ago. The local people have taught me so much, and the more I learn, the more I want to learn about Mexico! Then I opened up my e-mail to the Penasco Recreation Photo of the Week, and a fun article about Mexican music, which was heard yesterday afternoon, up and down the beach...all different sorts of Mexican music. My teachers are everywhere...thank you, Naomi!
WE ARE YOUR GATEWAY TO RETIRE IN MEXICO
STRESS FREE ENJOYING THIS MOMENT YOU
HAVE BEEN WAITING FOR YEARS!
DO YOU WANT TO SEE AND LIVE THIS COMMUNITY ? MEET THE COMMUNITY CLICKING HERE