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| By Richard Kiy and Anne McEnany |
| U.S. Retirement Trends in Mexico's Coastal Communities |
According to U.S. State Department estimates, in 1999 an estimated 1 million Americans
were living in Mexico on either a part-time or full-time basis, although a 2004 survey
estimated that the number of Americans residing in-country at between 500,000 and 600,000.
Though no reliable estimate exists for the number of American retirees now residing in
Mexico, over the past decade the number of Americans has noticeably increased as measured
by the rapid growth of large-scale real estate projects, particularly in Mexico's coastal
communities targeted specifically at 50+ U.S. and Canadian second homebuyers and retirees.
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 U.S. retirees in Mexico are relatively young and well-educated. Nearly 53% are under 65 years of age (and, in fact, 80% are 69 years or younger), perhaps indicating that Mexico may not be as attractive for older Americans that require additional medical care. In addition, almost two-thirds have at least a college degree, and another 28% had attended at least one-year of college. |
| The respondents chose Mexico for retirement due to its proximity to the United States and its affordability relative to other U.S. retirement destinations. |
| U.S. retirees residing in Mexico continue to maintain strong ties to the U.S.: 50% consider the U.S. their primary country of residency, and almost 22% return to the U.S. on a monthly basis. 85% remain in contact with friends and family in the U.S. through the internet, 64% used the telephone, and 33% used Skype. |
| Retirees living in Mexico are worldly and world-wise. Of those that had considered retirement locations other than Mexico, 41% considered retiring in Central America or the Caribbean; 19% considered other non-U.S. destinations as possible retirement locations. Should quality of life decline in Mexico, those that are financially able could begin to look elsewhere. |
| Mexico may become an alternative for those U.S. retirees facing economic challenges in the future. While survey results and focus group participants clearly express that economic reasons were a major factor in leading them south of the U.S.-Mexico border, the potential is likely greater than is being realized. In 2007, the California Elder Economic Security Standard Index (a financial measure that indicates basic financial needs for seniors in California) ranged from $21,000-$27,500 as the minimum needed for major California cities. The survey results show that nearly 44% of U.S. coastal retirees in Mexico live comfortably on less than $1,000 per month – an amount which underscores the potential demand for retirement options for low and middle income retirees in Mexico. |
| Source of Information |
| Kiy, Richard and McEnany, Anne. "U.S. Retirement Trends in Mexico's Coastal Communities." March 2010. International Community Foundation. 10 March 2010 http://www.icfdn.org/publications/retireeresearch/. |
| About the International Community Foundation |
| Established in 1990, International Community Foundation is a public charity working to foster lasting philanthropy to benefit under-served communities throughout the Americas and Asia. With over 70% of International Community Foundation’s recent grantmaking benefiting charitable causes along the Baja California peninsula, International Community Foundation is committed to assisting US donors with charitable giving needs from Tijuana to Los Cabos. |
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