IT'S TIME TO PLAN YOUR RETIREMENT IN LOS CABOS
For many, Los Cabos, Mexico is at the top of that list. With its beautiful beaches, warm climate, and laid-back lifestyle, it's no wonder so many people are choosing to retire in this fascinating destination. However, like all new beginnings, retiring in Cabo requires careful planning.
In this article, we’ll give you the best tips to start planning your retirement in this beautiful location.
Do your Research
Before deciding to retire here, it’s essential that you do your research!
Start by researching the cost of living there, any local taxes, and health care options for you in the area. Also, consider its different neighborhoods to find which is the most suitable for you.
Create a Retirement Budget
Creating a retirement budget is crucial to making sure you have enough money to sustain you through the next years of your life. Take into account all of your expenses, including housing, medical care, food, transportation, and entertainment.
This budget will help you determine if retiring in Los Cabos is financially feasible for you.
Visit Los Cabos
Before making any drastic decisions, it’s essential that you physically go to Los Cabos to get an idea of what the place is like. Spend some time exploring the town, talking with the residents, and learning about the local culture. This will help you decide if it will be easy for you to adjust to the city and if you really like it as a place to live.
To get the most out of your visit, here are some popular events that take place annually around Cabo, as well as a selection of the best things to do in this beautiful destination.
Learn About Your Medical Care Options
Health care is an essential consideration for retirees, especially those living abroad.
Research and evaluate the medical service options available in Los Cabos and make sure you have access to quality care. Consider purchasing international health insurance to always be covered in an emergency.
We go over this information and other tips that you should know about healthcare in Mexico for foreigners.
Manage Your Finances
In addition to creating your retirement budget, you'll need to figure out how to manage your finances. This includes managing your retirement savings, your income, and taxes.
Consider working with a financial advisor who can help you understand the management of your finances in Mexico.
Consider Cultural Differences
No matter what country you decide to retire in, it’s always important to consider cultural differences and how they can influence your daily life.
This article might prove helpful, where we discuss adapting to the Mexican lifestyle.
Connect with Other Expats
Although it’s important to immerse yourself into the local culture, as an expat it’s also good to connect with other foreigners who’re in the same boat as you of living in a different country.
Los Cabos is an expat paradise, so it will be very easy for you to make friends and build a community. Joining local clubs, activities, and organizations is a great way to meet new people and socialize.