Since events in the U.S. economy have negatively impacted the Baby Boomers’ retirement accounts, many nearing retirement age may have decided to put their retirement plans on hold. But there is another option: retiring off-shore. The lower cost of living in Mexico will allow you to retire in the lifestyle you had envisioned even with reduced assets. Mexico offers a convenient, secure and affordable alternative.

Only a few hours by air from anywhere in the United States and Canada, with numerous flights daily from most major cities Mexico is an accessible retirement destination. Whether you are looking for a charming colonial city, laid-back beach resort, or a world class golf destination Mexico has an option that will suit your needs. It doesn’t matter if your retirement dream is enjoying the warm breezes on a secluded beach or world class dining in a sophisticated setting you’re sure to find the retirement home you’ve always dreamed of south of the border. Mexico has options for every lifestyle and budget.

With one of the world’s fastest growing economies Mexico has a well developed infrastructure. From technology to banking to medical care you will find services here second to none. Medical care in particular is state of the art and offered at surprisingly affordable costs. A house call by a board-certified specialist costs only about $55 USD. In-home help, including skilled nursing if needed, is also quite affordable and in the means of most should the need arise. If your family includes pets our veterinarian services are excellent and pets are welcomed in many businesses and restaurants.

Communications are also a highly evolved industry in Mexico with most, if not all, of the services a modern retiree expects available easily. Those who are not quite ready to retire completely are able to telecommute for substantial portions of the year, generally the winter months.

Although Spanish is the official language of Mexico many people in tourist and retirement areas are fluent in English and many companies such as the telephone company, electric company and many grocery stores have English-speaking customer service departments and English versions of their websites. In fact, in my part of Mexico (Cabo San Lucas) it’s difficult to find an opportunity to practice your Spanish!

American and Canadian retirees feel comfortable in their new surroundings, quickly making friends and becoming involved in community service and social organizations. The ex-patriot community in most cities is extremely supportive and quick to help new-comers adapt. We are generally so proud of our towns that we’ll take any opportunity to show it off. Churches are often bi-lingual and a large part of many people’s social circle.

Home ownership in Mexico is secure. Article 27 of the Constitution of the United Mexican States guarantees foreign owners the rights, privileges and benefits of home ownership. If the property in question in within 50 km of the ocean (about 30 miles) or 100 km of the border (about 60 miles) the title will be held in trust with a Mexican bank; the trust permit issued by congress guarantees the foreign owner the same rights of a Mexican citizen as pertain to this property. Title insurance is available from Stewart, Fidelity and First American; U.S.-based escrow is also commonly used. Cross-border financing from U.S. lenders is available, interest rates recently were reduced and for qualifying buyers financing can be had for rates as low as 6%.

The US and Canadian dollar are especially strong against the peso right now. Today’s economic forecast predicts this will continue at least until mid-2011, making a smaller IRA go farther than ever before.

The cost of living in Mexico varies by region. My town, Cabo San Lucas, is considered one of the highest costs of living (as well as one of the highest standards of living) in the country. But even here day-to-day prices are less than in the United States. These are a few expenses I’ve encountered today:

• My maid is paid $23 USD per day, which includes cleaning, laundry and ironing. My friends complain I overpay, but I want her to be very happy.
• My gardener receives $38 USD every two weeks, he makes three visits per week.
• We had lunch with a friend today, the bill for three of us at our favorite taqueria was $13 USD.
• Doggie Day Care comes to about $6 per dog for a full day.
• A one-hour massage at the spa school is $11 USD, at any one of the local day spas or a home appointment you’ll pay about $45 USD.
• Extra-lean ground beef is $42 pesos per kilo: or about $1.45 USD per pound.
• Cantaloupe is less than 50 cents a pound.
• Gasoline, which is a government monopoly, comes to about $2.00 a gallon last time we bothered to convert pesos to dollars and liters to gallons.

Of course, you can pay more. Step into a resort hotel and prices jump like, well, Mexican Jumping Beans. Still we enjoy an enviable life at affordable prices. Quite frankly, I’m not sure why everyone isn’t retiring to Mexico!

Carol Billups is Broker/Owner of REALTY EXECUTIVES Los Cabos. A Certified Home Marketing Specialist, she has enjoyed working with both buyers and sellers for nine years and still thinks hers is the best job on earth. She is also the real estate columnist for Los Cabos Magazine. You can read more of her articles on www.reloscabos.com. You can reach her from the U.S. or Canada at 1-760-481-7694, or in Cabo at 044-624-147-7541.

Search more than 2000 listings on the new www.lovecabo.net

© 2009 Carol S. Billups