# Retirement Savings/Earnings



## lat19n (Aug 19, 2017)

Anyone want to discuss what affect this BLM/Covid/massive stimulus situation has had on their retirement expectations/situations ? Do you see any distractions ?


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## PatrickMurtha (Feb 26, 2011)

I’ll go there! I changed my plans completely and am taking my Social Security retirement early, on my 62nd birthday this August. My private English teaching business here in Querétaro has been decimated by the crisis, after I built it up carefully over five years. I lost my major corporate client, an aviation company (no surprise there!), and many individual students as well. I don’t think a bounce-back would be likely in the foreseeable future, so I’m hanging it up. Fortunately I’m already Residente Permanente, and my SS benefit will be a little shy of $1,200 USD / month, which is more than adequate.


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## hyracer (Aug 14, 2011)

This is the first I've heard of an Expat qualifying for Mexican SS. 
In my mind a Permanent Resident is not the same as a Citizen. If so you would also be able to vote in Mexican elections, etc. Am I missing something here? I have been wrong before...


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## PatrickMurtha (Feb 26, 2011)

hyracer said:


> This is the first I've heard of an Expat qualifying for Mexican SS.
> In my mind a Permanent Resident is not the same as a Citizen. If so you would also be able to vote in Mexican elections, etc. Am I missing something here? I have been wrong before...


I didn’t say that I was applying for MEXICAN Social Security. Of course I am applying for my US Social Security benefit.


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## lat19n (Aug 19, 2017)

PatrickMurtha said:


> I’ll go there! I changed my plans completely and am taking my Social Security retirement early, on my 62nd birthday this August. My private English teaching business here in Querétaro has been decimated by the crisis, after I built it up carefully over five years. I lost my major corporate client, an aviation company (no surprise there!), and many individual students as well. I don’t think a bounce-back would be likely in the foreseeable future, so I’m hanging it up. Fortunately I’m already Residente Permanente, and my SS benefit will be a little shy of $1,200 USD / month, which is more than adequate.


I would think an english teacher could get online work, either through a firm or solo. Perhaps not enough to live on but to supplement your SS. We didn't yet need it but at 62 my wife wanted to start collecting her SS just for the satisfaction of getting something back out of the system. I'm going to try and make it to 70. In the mean time I am converting some IRA money into Roth IRA.

I guess when I started this thread my thoughts were how so many things are in the news that seem to distract away from just exactly how much money has been created this year and how little accounting there seems to be for it. How many trillions is it now ? I can't help thinking that they are quietly now finally trying to clean up the last financial crises with no one noticing. All the credit default swaps etc that I'll bet are still on some banks books...

When we were both still working we had decent salaries but just as important we were earning like 5% on our money market accts. Now we are no longer working and I find myself investing in 1 year t-bills earning 0.10 %. I bought a AAA rated 3 year bond last week and it will earn 0.30 %. We will be alright but if we were both still working we might think twice before leaving our jobs today.


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## PatrickMurtha (Feb 26, 2011)

I am pretty tired of teaching (and I actively dislike teaching online), so I am taking the unexpected development of the coronavirus as my opportunity to retire early and live la vida loca now. I was originally intending to press on to 70 and my maximum SS retirement benefit, but I am actually very happy with this change of course. My minimum benefit is quite sufficient in itself, especially with the exchange rate as it is. I never travel and I don’t have any family to worry about. It’s just me and my pets in lovely Querétaro. I am going to move from my overpriced apartment in Centro to cheaper lodgings - a small house, I hope - on the fringe of the city, or even further out in the state. There I’ll read, listen to music, take care of the animals, maybe even garden! A modest but rewarding retirement.


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## dwwhiteside (Apr 17, 2013)

At this point I am still working online for a U.S. company while living here in lovely Colima, COL. I have thought several times about taking early retirement; I turned 64 this past February. But, the money is just better if I wait until full retirement age. For me that is now 66 years and 4 months, so almost exactly 2 years from now.

There are also some restrictions on how much I could earn if I take early retirement. I have already spoken with my employer about doing some contract work on a part time basis after I retire. If I retire early and then want to participate in a project, I could create some undue headaches for myself.

But, if things get really slow at work, as they have from time to time, I might reconsider. Most of my work is for banks, and the kinds of things going on right now cause banks to stop spending on almost any kind of technology expansion. Still, I only need about 15 hours of work per week to make it better to keep working than retire.

So for now, it is _status quo_ for me. I will keep working as long as I get enough hours to make it practical, and hope I can keep going for another two years. Then I can take my FULL Social Security retirement, and still work a few part time hours if the opportunity presents itself.


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## otghoyt (Jun 7, 2020)

*Ssdi $$*

Hi Folks;

I need to get established in BCS before I turn 65 as my SSDI will drop to about 1300.00USD a mo. That would be Nov. 2022 when that goes into effect.

I could get the job done fairly soon but I really don't have anything lined up. This entire year has been a disaster for most people and I can't get anything going because of COVID.. I feel like opportunity is dissolving right before my eyes.

I am in desperate need of a pen-pal in the Todos Santos area to obtain some insights to dwell upon before I make a poor decision. Anybody up for some dialog?

otghoyt


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## otghoyt (Jun 7, 2020)

Review what happened between E/W Germany monies after the wall came down. I am thinking a repeat is in order with USMCA.


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