Can I live on my Social Security?

Discussion in 'Living in Cancun & Riviera Maya' started by V, Jul 1, 2010.

  1. V

    V I can choose my own title Registered Member

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    It seems to me that drinking at home is not any more about getting drunk than drinking in bars is- unless perhaps you happen to live alone or have no friends willing to call on you

    In Mexico more parties take place in people's homes than in bars- to the annoyance of some neighbors including me!

    But the focus of this thread is whether it's possible to live on 12000 pesos per month and economizing on drink whether in bars or not- for those who choose to drink- is part of the equation
    ____________________

    Of perhaps greater importance than the cost of alcohol for retirees is the issue of cost and availability of medical care

    IMSS remains one of the best bargains in medical care available to retirees anywhere- being both comprehensive and inexpensive at just 3200 pesos per year for those 60 and over

    For a report of my own recent experiences using the system see-

    http://www.cancuncare.com/forum/living-cancun-riviera-maya/13624-medical-care-retirees-cancun.html
    ___________________
     
    Last edited: Jul 31, 2010
  2. V

    V I can choose my own title Registered Member

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    I mentioned renting a two bedroom apt for 2,500 pesos per month as part of a package that might allow you to live on social security here, but buying a modest priced place could put you in just as advantageous a spot and might, for some, represent a better way to go.

    After considerable searching, we found a condo which was priced right for us, and well situated in the center of town, which has a condo fee smaller than the budget for rent that I suggested in the original post.

    On the subject of cost of electricity, our bill for the last two months was 319 pesos, using two laptops much of the time, and all the usual home appliances plus a/c occasionally, for a few hours.
     
  3. Windknot

    Windknot Regular Registered Member

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    I guess y'all are presuming that the SS retiree wants to live in Cancun. I presently live in Veracruz, and I know from experience, that our costs are similar......BUT ....an SS retiree can live like a king in other parts of Mexico, and still enjoy the diversity of culture not found NOB.

    Unlike many of you who fell in love with Cancun and decided to live there, I have been to many many different cities and pueblos in Mexico where the people are friendly and there are no social hassles. Rent is like 3000 pesos a month for a 3 BR house....to buy the same is less than 500,000 pesos. Predial is always nothing, so no problem there. However, inland, there is no fideicomiso, and that could be significant for an SS pensioner.

    It all depends on what you're after....sun and surf?....you have to pay for that. But inland, things are a whole lot different....and much cheaper.
     
  4. V

    V I can choose my own title Registered Member

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    Without having had the experience of many other Mexican cities, what Windknot has said seems true to me. Last year statistics were released that showed CancunĀ“s cost of living was 105% that of Mexico City.
     
  5. Brewster

    Brewster I can choose my own title Registered Member

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    How would this compare to the cost of living in a place like Bucerias (North of Puerto Vallarta)?

    We have friends that winter in that area.

    I have also heard of an inland lake in the south where many Canadians and Americans retire. However, I think it is in a high altitude area with less than an ideal climate that gets quite cool in the evening.

    We have thought of retiring in Mexico. The concept of owning property in a "foreign" country does concern us though. Not that Mexico is likely to become another Cuba but heck, you never know.
     
  6. V

    V I can choose my own title Registered Member

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    Hey, B., it's not Mexico's Law or stability that I'm concerned about at this point, it's U.S. law. See, for example,

    http://www.cancuncare.com/forum/liv...365-u-s-fideicomiso-reporting.html#post384672

    Further to the point, the U.S. refuses to extend extraterritorial benefits of its national health program for older Americans (Medicare), making it problematical for those with any health problems (and who doesn't have some, as they get older) to have adequate medical coverage- unless money is no object.

    IMSS in Mexico is an alternative, for those who enroll before they are burdened with pre-existing conditions, but those who use it know that it has a lower "quality ceiling" than they might find back home.
     
  7. ChrisnCancun

    ChrisnCancun Enthusiast Registered Member

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    Whoa Whoa Wait a minute....did you say new pool tables? Last time I was in Cancun I had a very hard time finding a decent pool table. Are they 3 cushion tables or regular pocket coin op bar tables. Either way i will have to go check this place out. I will be there in 2 weeks, want to play a game? Pool is an addiction for me.... but a good one! Check out the links in my sig.

    Seriously though Life_N_Cancun, if you would like to play while I am down there let me know.

    Chris
     
  8. Windknot

    Windknot Regular Registered Member

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    Brewster, you're thinking of Lake Chapala. It is essentially an ex-pat area, and you will pay the same price for a house there, as you would for a comparable one in the States. Other services are similarly priced. There is also Guadalajara and San Miguel (de Allende) as other examples. So if you would like to retire in "Little America," these would be your choices. But in none of these places, could you retire on V's 12,000 pesos a month, unless you had sufficient start-up capital to buy a home.

    The climate is more "high desert," meaning that the days are hot, but drier than Cancun, and the nights are cool, but drier than Cancun. Less humidity means you do not feel the effects of heat and cold as much. So it is really quite comfortable in these areas...reminds me a little like So. California.

    V, I was going to take exception to your 105% thing, and then I realized you were talking about just Cancun. But as of a few years ago, Quintana Roo was #18 most expensive of all the States in Mexico. (Yes, I found that hard to believe too, but I think a lot has to do with the fact that your IVA is 5% less than most States) DF was #1, and Veracruz was #3.(We have unusually high real estate prices here....both to rent and to own)
     
  9. KTDLP

    KTDLP Enthusiast Registered Member

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    We just dramatically lowered our gas consumption by purchasing an energy saving gas water heater at Home Depot. We bought the model unit and got a huge discount on it. I don't know if it would make that much of a difference for a smaller place but we have four showers, six sinks, and a washing machine that use it. It is also so much more aesthetically pleasing and compact than it's gas guzzling cousin.
     
  10. V

    V I can choose my own title Registered Member

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    Fruits, vegetables

    One of the good things about living here, aside from the very clean air, is that fruits and vegetables are usually available in good quantities and for prices that, more often than not, are very much lower than we would find at the same time of year in the states. Right now, the supermarkets are loaded with a wide choice of fruits and vegetables costing less than 10 pesos/kg, just about 40 US cents per pound.
     
  11. V

    V I can choose my own title Registered Member

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    In looking over the "budget" that I proposed in the first post, the one thing that stands out is the item for grocery shopping for one person, at 1,600 pesos.

    It's no where near what we're spending, and I just don't know if that's realistic, if you don't stick to beans and tortillas.

    We made an effort to pay attention to what we were spending, recently, and we're coming in more like 3,000 pesos per month per person for our "grocery" shopping trips (which, of course, includes other things like household supplies, but it's "ex" alcohol). We eat at home, more often than not.

    This sounds like a lot to me, but we buy whatever we want, and that includes some items which stand out, like olives, peanut butter, pickled herring, etc., which are a little pricey- but, then again, they last a while, too.

    How's this running for others on this forum?
     
  12. Isla Zina

    Isla Zina Regular Registered Member

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    I am one person buying for myself and t.p. and other supplies for the guest house and I spend about 3000 a month! Let me suggest you are letting money slip through your fingers! Yes, I buy herring (when it's available) and peanut butter, too.
     
  13. V

    V I can choose my own title Registered Member

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    Just call us extravagant!
     
  14. Isla Zina

    Isla Zina Regular Registered Member

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    Yes, the Vita herring is about the same as the peanut butter but only comes by once or twice a a year!
     
  15. V

    V I can choose my own title Registered Member

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    Nothing is easier, Zina, than picking up expensive food/drink habits. For example, we spent eight days in southern Spain during the Christmas holidays, last year, where they routinely serve olives as a snack with drinks.

    We had never been big fans of olives, but olives are really cheap there- in the home of the olive- and you can afford to give them away. Here, they are not so cheap- think pickled herring- but now we keep several jars in the house at all times. There goes the budget, again.

    By the way, the "aceitunas manzanillas" are tasty....
     
  16. violet0905

    violet0905 Enthusiast Registered Member

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    I spend about 4000 at least on grocery shopping and that is just me by myself,you people eat out a lot or something? I dont eat anywhere but my house for the most part ,im too paranoid about ingredients in foods most of the time and i look stupid using paper towels to remove the tons of oil they put on meats and veggies everywhere LOL
     
  17. V

    V I can choose my own title Registered Member

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    I don't know about others, Violet, but here's what I said about it.
    In general, we're disappointed in restaurant food, and eating at home gives us a chance to observe a more healthful diet- less salt, for example (ok, I know, the pickled herring and the olives aside)- than we would have in most restaurants.
     
  18. Isla Zina

    Isla Zina Regular Registered Member

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    I eat out about one a week, drink out twice a week, and cook the rest of the time. I keep a gringo pantry and can feed an army at the drop of a dime. With food wastage factored in, it's still cheaper than having plain tacos out!
     
  19. V

    V I can choose my own title Registered Member

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    Eating out, and Best Days to Shop

    Zina, I've always thought you can eat better, and more cheaply, at home, though I've often heard women say, "Well, my time is worth something, too," in response to this observation. However, my wife recently prepared a very tasty and nutricious meal in a half hour, then remarked that it would have taken that long to get to a restaurant, get seated, order and be served- and that was her time, too! An interesting thought.
    _______________________

    Since this thread is, to a degree, about how to live more cheaply here, I will mention something else my wife told me, recently, that there are, "Best Days to Shop" at the different supermarkets, in which the best produce is put out, and prices are reduced. Each store seems to observe different days, so it pays to know which ones she's talking about. Perhaps some of the readers have noticed this, too.

    Just recently I've noticed what seemed to be a large price difference on produce between Chedraui, corner Av Coba at Av Tulum, and Walmart, with Chedraui being the cheaper. Has anyone else thought so, too?
     
  20. Isla Zina

    Isla Zina Regular Registered Member

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    Big price differences on sale days! Tuesdays at Walmart, Wednesdays at the Mega by Costco. Soriana Tuesday afternoon (after they see Walmart's prices) and Wednesday. Forget which day is Chedraui. On sale days, I buy the loss leaders and leave! Some stores have favorites (Chedraui for manageable sizes of gringo cheeses, for example). Walmart and Mega or Soriana for Alpura sugar/flavor free yogurt) etc.