Retirement in mexico?

Question

how much money do you need to retire if your 30 in mexico? serious answers only.

Answer 1

Depending on where in Mexico.  

You could retire no the interest from $150.000.00

If you are thinking of retiring at 30 then you must have at least that.

Nice apt can be had for $250-$300.00 a month.

normal ling expenses $500.00.

Third all depends on what type of life style you have.

You may need a lot more than the above quotes.

If you have some kind of annuity then you will have to supply your financial details to "La Migra" either a substantial amount in the bank or a multiple of the Mexican minimum wage that is around $1000.00 . Either of these will get you a temporary resident permit(FM3) In most cases this is renewed for five years and then to a (FM2) for five years and then you are considered an "Imigrado" an not have to bother with 'La Mirgra"

Again, depending on your life style $1000.00 to $2000.00 a month should do you up right

Gringo

Answer 2

Retire at 30 .... hmmmm

The retirement age is normally 55 and up for Mexico with an FM3 visa and the required income is now about $1300 a year.  Of course you can do it on any amount if you only have a tourist visa and leave the country every 6 months

Answer 3

It would be extremely difficult to predict future costs in Mexico or anywhere else.Currently however, you would likely need  +/-$800USD per month to duplicate a "modest" U.S.or Canadian lifestyle.There are many people that live/exist on less than $5 a day throughout Mexico and Latin America.

Answer 4

To get an FM3 visa so you can reside in Mexico, you must demonstrate that you have a steady income of at least $1200 a month from the U.S....or at least one years worth in the bank.  This visa must be renewed once a year, and proof of income is required.The previous answerer said you could live on $800...well, maybe...but VERY simply.  $ 1200 a month is more realistic for a modest standard of living. Some people cannot meet this requirement, so do not get an FM3.  They just get a new 6 month tourist visa every 6 months by returning to the border for a day...and they live in Mexico for years.  But, you have no guarantee, that the tourist visa will always be granted.  Also, you CANNOT work in Mexico without a work visa...and they are very difficult to get. Then , even professional jobs pay VERY low wage.  If you have money to invest and start an business, and can provide proof of this, you can get a visa to reside here and do that.    It is wise to work in the states ( at a good salary), save up, have a retirement fund, and retire to Mexico when you  will have that steady retirement income. If you wish to live in a touristy area and live a more than modest life style, it will cost more.