By Madison Thomson | Real State Investigator
The baby boomer boom in Mexico is clearly underway, and has been for some years now with Mexico becoming a very popular choice with the over 60s from the United States and Canada. What is a ‘baby boomer’? In North America the term “baby boomer” became the popular way to call people who were born during 1946 and 1964, babies who would now be nearing, or well into, their 60s. What characterizes most baby boomers is that their children are now fully grown, finished college etc and the baby boomers are left wondering what to do next with their lives.
The baby boomer boom in Mexico
The baby boomer boom in Mexico has occurred because many baby boomers in North America are now looking for ways to shake up their current living circumstances. Many have been thinking about making a big lifestyle change such as making the move to Mexico either fulltime or part time, which is a choice that generations before them didn’t have
Retirement in Mexico
Some baby boomers have found themselves more financially comfortable and are able to consider buying a second home in Mexico while others consider making the move to Mexico in order to save money on live costs, being that they can afford to live off their pensions or savings in Mexico without a problem. Over the last ten years, the economy has left many people who are ready to retire, and those who are already retired, on low fixed incomes, meaning they have less money to dispose of than they ever have before. Worldwide, and in particular North America, living costs have increased along with taxes, making retirement harder for many people. Therefore, Mexico becomes an attractive option.
When you need to stretch your income further and lower your expenses, downsizing and changing your lifestyle is just one way to cope. Low cost housing, lower property taxes, cheaper maintenance costs and lower cost of living all make Mexico attractive as life in Mexico is so much more affordable than in Europe, Canada, and in the United States.
Downsizing to Mexico
Downsizing is a popular trend among baby boomers that have big family homes they have worked their entire life to pay for. Many choose to purchase a smaller house in their hometown while others choose to move to Mexico where they can purchase a luxury home for much less. Some even downsize in their hometown and purchase a second home in Mexico. Many retired baby boomers want to keep a property in their own country while having a second home abroad, so they can escape the winter months by heading to warmer climate. Many rent their home in their own country when abroad, which is added income, but there are some baby boomers that just want to move abroad permanently, so they can have a fresh and complete break.
Are you looking for a natural and affordable place to retire that has the best climate, affordable health care and activities, and is close enough to jump on a plane and travel home? Then Mexico is the choice for you. Americans and Canadians are choosing Mexico for their new residence and are joining the baby boomer boom!