Living in Mexico is not universally cheap, and costs can vary, especially in tourist hotspots. Research beyond tourist areas to understand living expenses.
Moving to Mexico doesn't eliminate tax concerns. Consult with a tax advisor knowledgeable about U.S. and Mexican tax laws to understand your obligations.
While Mexico offers affordable healthcare, the quality can vary between urban and rural areas. Consider health insurance and research healthcare options in your chosen area.
The value of U.S. dollars in Mexico can fluctuate. Diversify income sources, consider savings in Mexican pesos, and be mindful of currency risks.
Real estate in Mexico isn't always a guaranteed win. Research thoroughly, understand legalities for foreign buyers, and hire local experts.
Working or starting a business in Mexico during retirement involves legal hurdles. Understand the requirements for work permits and business licenses.
Mexico faces economic challenges that can impact savings. Diversify income, consult with financial advisors, and stay informed about the economic climate in Mexico.