# income requirements for moving???



## fromnewmexicoto??? (Nov 20, 2016)

I currently live in the US and just recently I have been thinking of moving out for a better quality of life..i am disabled and in the next 2 years I will be losing some other financial supports and only living on measely disability check..however, i just read that in order to establish residency in mexico you need 2k if you are not retired...as a former social worker here I can tell you that most on disability do NOT make 2k...

Issue is..right now, I do fulfill that requirment as I also have an alimony check so my income comes in at 2200 a month...i wanted to ask...once you establish residency do you have to recertify every year?? If that is the case I could qualify to live there now but then they can kick me out in 2 years when I am living on 1200 a month???

Pardon my ignorance,,,i currently know NOTHING about moving abroad but it seems that some of the countries are not allowing americans with a low income to move in.

Thanks for any advise...i don't even know where i would move..somewhere in mexico might be a good choice...

thank you


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## TundraGreen (Jul 15, 2010)

First of all, I don't believe INM (Mexico's immigration agency) cares whether you are "retired". They care whether you will be able to support yourself in Mexico, either with a job from a company operating in Mexico or with demonstrated means from elsewhere, either monthly income or significant assets.

Secondly, once you qualify for a particular visa type, either permanent or temporary, I don't believe they ever ask again about your qualifying income (or assets). A permanent visa is 'permanent', and a temporary visa can be converted to a permanent visa without an income test after four years.

However, your post does raise a question in my mind. You do not mention how much experience or knowledge you have of Mexico. To me that would be a significant factor in whether you even want to be thinking about moving here. Life in Mexico can be quite different from life in other countries and is not everyone's cup of tea.


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## fromnewmexicoto??? (Nov 20, 2016)

i know nothing about mexico. except its proximity to US .i have JUST started the process of considering moving abroad....i am wondering if there is a general forum for ideas on inexpensive and safe places..warm mountains water...i was just starting with mexico because it is closest to my family who lives in florida...i joined this forum to learn about various countries...i look forward to learning! 

if one can elaborate on those vast differences would be much appreciated


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## TundraGreen (Jul 15, 2010)

fromnewmexicoto??? said:


> i know nothing about mexico. except its proximity to US .i have JUST started the process of considering moving abroad....i am wondering if there is a general forum for ideas on inexpensive and safe places..warm mountains water...i was just starting with mexico because it is closest to my family who lives in florida...i joined this forum to learn about various countries...i look forward to learning!
> 
> if one can elaborate on those vast differences would be much appreciated


I like your response. 

One could write, and people have written I suppose, books about the differences. I guess the most significant difference from my perspective is the language. Unless you are already fluent in Spanish, living in a Spanish speaking country is a big change. I lived here 4 or 5 years before my Spanish ability got to the point where I can easily use the phone for even simple things like making an appointment with a doctor or an office, as just one example.

Other differences good and bad:
Peoples sense of time
Cleanliness: streams, streets, tap water
Friendliness of strangers
Driving conditions
Music
Noise
Tolerance for others
Mercados and tianguis and street vendors
Food: in mercados and in restaurants
Postal service
Role and function of government
Tax system

I am sure I am not thinking of lots of other areas of difference but those are a few that come readily to mind at midnight.


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## AnneLM (Aug 16, 2016)

The infrastructure of Mexico is not very disability friendly, and it can be quite a challenge for anyone with mobility issues. Very few places are accessible by wheelchair, sidewalks are uneven, etc.


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## Altima (Dec 20, 2016)

Side walks are VERY dangerous and uneven in lots of the places that we have visited the the past. Only certain higher-end resorts have wheel chair accessible washrooms and pathways. IF you need a wheel chair, that is.


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## DiverSailor123 (Sep 17, 2016)

JSYK we flew cheaper from Chicago to Mexico than we most often can from Florida to Mexico..




fromnewmexicoto??? said:


> i know nothing about mexico. except its proximity to US .i have JUST started the process of considering moving abroad....i am wondering if there is a general forum for ideas on inexpensive and safe places..warm mountains water..._i was just starting with mexico because it is closest to my family who lives in florida_...i joined this forum to learn about various countries...i look forward to learning!
> 
> if one can elaborate on those vast differences would be much appreciated


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## sparks (Jun 17, 2007)

>>> i know nothing about mexico. except its proximity to US .

Come down on a Tourist Permit and look arund


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## DiverSailor123 (Sep 17, 2016)

Ahhhhh and then there is Our Issue, one which is shared with Everyone Here like it or NOT ... Things do NOT Improve physically for any of us as we get older.. Friends and family have asked US? Why are we not just selling and leaving? For The Love we have BTDT before , this is a no brainer now... hummm not so.. last time we were late 40's now we are mid and very late 60's ..10 years down the road we could have .......changed our minds and if need be started all over again.. Not So Now... If someone is struggling here financially, there are a zillion programs and organizations to help you, be you here as a citizen or not... There is basically NOTHING in Mexico for anyone as far as those kinds of government programs and private organizations are concerned... THATS WHY Family is sooooooo important in Mexico...


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## lagoloo (Apr 12, 2011)

As the many boomers who are retiring at an amazing rate will learn, things change as time goes by re health. How we treated our bodies in our earlier years does come back to us, for good or ill. Smokers get their punishment; active people get their reward.

About those "zillion" programs to help people in need, I bet to differ somewhat. I'm thinking of the hordes of permanently homeless in the USA. I'm thinking or how impossible it would be live on a typical SS check in the U.S. and how easily one can do so in Mexico. And so on.


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## Isla Verde (Oct 19, 2011)

lagoloo said:


> About those "zillion" programs to help people in need, I bet to differ somewhat. I'm thinking of the hordes of permanently homeless in the USA. I'm thinking or how impossible it would be live on a typical SS check in the U.S. and how easily one can do so in Mexico. And so on.


I would find it hard to have a decent life in the States while living on my two very modest pension checks, but here I am part of the middle-class, plus the weather is better!


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## DiverSailor123 (Sep 17, 2016)

Play that song anyway you want.. 
#1 and just for starters.. Many homeless want to be homeless its by choice.. others are anti social and others just cannot follow the steps...... be they 12 steps or otherwise.. #2. There is all kinds of housing and utilities assistance programs in the USA .. ZERO in Mexico ( I was a landlord in the USA and I , basically learned my lesson  ) There are all kinds of food programs in The USA both funded ( State County and Federal ) and charitable.. None in Mexico.. 
#3. Health?? That's a shot in the dark too... Yes smokers tend to pay the piper but actually I know a lot who never do / did and many who never smoked who don't make it as long as some who smoked .. Its a crap shoot.. But Living clean , eating right , toss in some exercise BUT NOT TOO MUCH.. and you may live longer.. BETTER YET hope you have good DNA.. :frusty: #4. Medical. If you can get to an ER you are going to get help in the USA.. No Matter Who You are .. That is NOT how it is for foreigners in Mexico.. #5. Average SS check they say is $1341 if that's all the income you have , well you can if you know how to do it and are willing to do it live even cheaper in Guatemala.. :argue: I will readily admit many here have more days weeks months and years in Mexico than I have .. But I was down there a lot ( think Snow Bird who might have owned businesses and worked for others  ) I don't think I ever saw any Retirement Aged ******-a's trying to live on say $1200 a month.. Even that much SS Income means you had at one time a half way decent job.. Anyway if your brand New to Mexico and ONLY have that much to live on and I assume(?) with not much in your pocket either... you better, already know or pick up Spanish quickly.....because you are going to need it... :typing: hahahaahahaaa 






lagoloo said:


> As the many boomers who are retiring at an amazing rate will learn, things change as time goes by re health. How we treated our bodies in our earlier years does come back to us, for good or ill. Smokers get their punishment; active people get their reward.
> 
> About those "zillion" programs to help people in need, I bet to differ somewhat. I'm thinking of the hordes of permanently homeless in the USA. I'm thinking or how impossible it would be live on a typical SS check in the U.S. and how easily one can do so in Mexico. And so on.


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## lagoloo (Apr 12, 2011)

Isla Verde said:


> I would find it hard to have a decent life in the States living onmy two very modest pension checks, but here I am part of the middle-class, plus the weather is better!


We are living very well on our SS but would have a real struggle to do so, back in the states.
The property taxes in CA were a budget killer in itself, even if one's home had no mortgage.
Any repairs there were vastly more expensive than here. 
As for medical expenses, the cost of Part B Medicare coverage exceeds the cost of paying out of pocket here, at least for me. I could go on, but that's enough. 

As for all those programs available in the states, I'd rather be independently solvent in Mexico than having to rely on help from public and/or private entities elsewhere. Maybe that's just me and old fashioned pride, but there it is.


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## DiverSailor123 (Sep 17, 2016)

All That said ......and being from California are you doing that on .....$1200 a month? Are we comparing apples with apples.. California?? I have met lots of people who HAD TO leave California when they retired.. Yes property taxes alone can kill..... and that's a fact jack in a lot of places.. Ours here in SW FLA are less than a 1/3rd what they were back in IL. BUT HEY over on the Yolisto Board a few years ago a Lady went from Indiana to Merida ..... and she had very little income IIRC Maybe not enough to be entirely legal at that time. Maybe The OP would desire to look for her and see whats been going on for the last few years.... on minimum income in Mexico..


lagoloo said:


> We are living very well on our SS but would have a real struggle to do so, back in the states.
> The property taxes in CA were a budget killer in itself, even if one's home had no mortgage.
> Any repairs there were vastly more expensive than here.
> As for medical expenses, the cost of Part B Medicare coverage exceeds the cost of paying out of pocket here, at least for me. I could go on, but that's enough.
> ...


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## Isla Verde (Oct 19, 2011)

DiverSailor123 said:


> All That said ......and being from California are you doing that on .....$1200 a month?



Where did you get the figure of $1200 a month from?


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## DiverSailor123 (Sep 17, 2016)

I...... Rounded up and rounded down from the OP. I am all for promoting Mexico but I insist on honesty... I / we are living decent on $70K a year in SW Fla. and we own an nice 1800 sq ft pool... water front home .. $1200 to $1500 has been spoken about lots here.. IIRC? 



Isla Verde said:


> Where did you get the figure of $1200 a month from?


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## TundraGreen (Jul 15, 2010)

DiverSailor123 said:


> I...... Rounded up and rounded down from the OP. I am all for promoting Mexico but I insist on honesty... I / we are living decent on $70K a year in SW Fla. and we own an nice 1800 sq ft pool... water front home .. $1200 to $1500 has been spoken about lots here.. IIRC?


The OP mentioned living on $1200/month at some point in the future. Iagoloo was not the OP.


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## lagoloo (Apr 12, 2011)

I don't know where DiverSailor got the figure of $1200 a month, but not from me. 

From his revelation of his own income and amenities, he's obviously much better off than most retirees, so why does he care about the safety nets in Florida? Doesn't sound like he'll be needing them any time soon. I don't think Florida is eager to have more poor retirees, either.

It is* possible* to live on even less than $1200 a month in some parts of Mexico, but it would be tight. I don't think newcomers can obtain Residente Permanente status in Mexico on that income.

It is not possible to have a decent life on that amount in a place like CA or FL. Even in the least expensive states in the U.S., that's no longer enough. I think Mexico will have a substantial number of economic refugee baby boomers coming. When the Mexican govt. raised the income requirements for admission, they may have been considering that.


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## DiverSailor123 (Sep 17, 2016)

I wrote a rather lengthy reply and then thought it over and remembered this thread is about : Someone with Very Limited Funds Moving to a Foreign Country .... One they have Never Visited and do not know the language.. BTW.. VERY LIMITED FUNDS.. 
The OP is Moving a Long Ways away from where she calls home to a country that may well seem like a 3rd world country to her .. If I Am Correct? Mexico says she will not be making enough to move into Mexico Legally... OP there is a cost / charge for moving money around and then again for accessing it.. So how much of that $1200 will you actually have to spend at the end of the day? $1100?


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## lagoloo (Apr 12, 2011)

I'm not sure what you are saying, but personally, My and my husband's SS checks are directly deposited into a Mexican bank at the best sell rate, and the bank doesn't charge us for doing that.
No exchange rate fee. So, the OP can move money easily and cheaply if she decides to do so. She can also withdraw it in pesos with no charge. It's a matter of doing some research.


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## Gatos (Aug 16, 2016)

My wife has been tracking our expenses here in Mexico. They come in at around 3500 USD/month. That includes 2K or so property taxes, 2K or so HOA fees, perhaps 3K USD for IMSS, US taxes ...

We had a decent nest-egg when we moved here - but one of the principal reasons to come here was definitely to cut back on unnecessary expenses.

If we were of limited means - which I have been in my life - we would have looked into someplace in central florida - perhaps Apopka or Ocoee. As someone has pointed out here - there are better 'social safety nets' in place in the states.


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## DiverSailor123 (Sep 17, 2016)

That's Wonderful Information..... That is exactly the kind of Info people need... Why Not post that information? 




lagoloo said:


> I'm not sure what you are saying, but personally, My and my husband's SS checks are directly deposited into a Mexican bank at the best sell rate, and the bank doesn't charge us for doing that.
> No exchange rate fee. So, the OP can move money easily and cheaply if she decides to do so. She can also withdraw it in pesos with no charge. It's a matter of doing some research.


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## Gatos (Aug 16, 2016)

Not sure - but I think that is a 'gift' from the Bank of Mexico.


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## DiverSailor123 (Sep 17, 2016)

I guess its all mute point's seeing as the OP only posted twice and that was a month ago.. I would still like to read exactly which banks accept US Direct Deposits with the best exchange rate for dollars and with No Fees in or out.. 



Gatos said:


> Not sure - but I think that is a 'gift' from the Bank of Mexico.


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## lagoloo (Apr 12, 2011)

I don't know if they have branches elsewhere, but we use Actinver Bank in Ajijic. Banamex isn't bad on fees either. We both worked or were self employed, so we have two SS checks. We have no debt and our casa and car are free and clear. Our property taxes are around 2K pesos a year. 

Health care: IMSS coverage is around $500 each per year for anyone who qualifies. Seguro Popular is available to all, even foreigners, for even less or nothing........so Mexico does offer medical help to all. Dropping Part B of Medicare offers enough savings to pay for most medical costs for private doctors out of pocket. There ae exceptions of course, but I'll stand by what I said about the rewards of taking care of one's body paying back in later years. Today's U.S. news included an article about the ever increasing rate of death by heart disease and diabetes.......both of which are often a direct result of obesity.

All of the above contributes to "living well" as pensioners. We went permanente over 5 years ago and are here for the long haul.
Bienvenidos Mexico! Love it here.


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## Isla Verde (Oct 19, 2011)

DiverSailor123 said:


> ... I would still like to read exactly which banks accept US Direct Deposits with the best exchange rate for dollars and with No Fees in or out..


I use Santander for direct deposit of my US Social Security checks. I get an excellent exchange rate, and there are no fees involved as long as I keep a minimum of $2000 (that's pesos) in my account.


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## Gatos (Aug 16, 2016)

DiverSailor123 said:


> I guess its all mute point's seeing as the OP only posted twice and that was a month ago.. I would still like to read exactly which banks accept US Direct Deposits with the best exchange rate for dollars and with No Fees in or out..


By 'US Direct Deposits' do you mean wire transfers ? We have only ever wired money into HSBC (fee free - but we have a premium account). Most recently we exchanged dollars for pesos at Schwab. They tell you at that time the exchange rate you will get (exactly how many pesos will show up in Mexico). They do not charge a wire fee either. It does take 3 days for the 'trade' to settle.

We are not yet drawing on SS - so take this with a grain of salt. I 'think' to get the best deal with SS direct deposits you need to set it up at the US embassy. I do know that they have a SS 'expert' on staff - you need to make an appointment now - I believe that is true of all services provided at the embassy. To me - it feels like SS must send dollars to the Bank of Mexico which converts them to Pesos and transfers the Pesos to the Mexican Bank - but I have no personal knowledge. I can't imagine ANY other bank which would do 'something for nothing'.


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## Gatos (Aug 16, 2016)

Actually I think it was Isla Verde who pointed this put a while back :

https://mx.usembassy.gov/u-s-citizen-services/social-security/


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## DiverSailor123 (Sep 17, 2016)

I have no personal experience with SS Direct Deposit anywhere except the USA.. An acquaintance we had was on SSDI  a number a years ago ( _that may be a key element _) And she told us she had to have her SSDI check deposited to a US Bank Account.. Just like here there seems to be a disparity with Health Care Insurance.. This is all great information , multiple banks is good to know as well.. Ahhhh the US Embassy Connection who-da thunk ? 


Gatos said:


> By 'US Direct Deposits' do you mean wire transfers ? We have only ever wired money into HSBC (fee free - but we have a premium account). Most recently we exchanged dollars for pesos at Schwab. They tell you at that time the exchange rate you will get (exactly how many pesos will show up in Mexico). They do not charge a wire fee either. It does take 3 days for the 'trade' to settle.
> 
> We are not yet drawing on SS - so take this with a grain of salt. I 'think' to get the best deal with SS direct deposits you need to set it up at the US embassy. I do know that they have a SS 'expert' on staff - you need to make an appointment now - I believe that is true of all services provided at the embassy. To me - it feels like SS must send dollars to the Bank of Mexico which converts them to Pesos and transfers the Pesos to the Mexican Bank - but I have no personal knowledge. I can't imagine ANY other bank which would do 'something for nothing'.


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## Isla Verde (Oct 19, 2011)

DiverSailor123 said:


> This is all great information , multiple banks is good to know as well.. Ahhhh the US Embassy Connection who-da thunk ?


I have found the FBU (Federal Benefits Unit) at the US Embassy in Mexico City to be very helpful. They usually respond to emails promptly, and in almost perfect English! I've gotten help from them recently when I was having problems with my Social Security account.


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## lagoloo (Apr 12, 2011)

The person receiving the check makes the arrangement with the SS rep in Mexico and with the bank.
If there has been an account (amount needed varies) established with that bank, it all goes well. The SSA will insist that one's Mexican home address be given, but they will use a Texas mail drop for correspondence. The process of establishing all this takes several weeks. I was using Banamex USA for my direct deposits, and that account was "linked" to Banamex Mexico. Very convenient, but apparently Banamex USA got involved in some money laundering (rumor) and cut off all their Mexican residents, so switching became necessary.
It can all be done: just takes patience and some contact with the embassy.


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## Tye 1on (Jun 2, 2018)

A little off-topic but I didn't want to start a new thread with a single question about the topic at hand...

Is it possible to mix the monthly income requirement with the asset requirement? 

To give an example, it looks like at retirement my two pensions will total around $2500 gross. I'll have investments of $100-120k, plus a rental house appraised at $250k with $20k mortgage remaining. Less than two years after applying for Perm or Temp residency the house will be paid off and will generate $1000 net income. 

It seems like i'm close to the line initially on both income and assets, but together it seems like I'd be good to go. Any insights or experience with this issue? Thanks in advance!


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## RVGRINGO (May 16, 2007)

Six months after you retire, that pension amount should qualify you.
Your investments, if untouched for a year, should also do the trick.


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## Meritorious-MasoMenos (Apr 17, 2014)

Gatos said:


> By 'US Direct Deposits' do you mean wire transfers ? We have only ever wired money into HSBC (fee free - but we have a premium account). Most recently we exchanged dollars for pesos at Schwab. They tell you at that time the exchange rate you will get (exactly how many pesos will show up in Mexico). They do not charge a wire fee either. It does take 3 days for the 'trade' to settle.
> 
> We are not yet drawing on SS - so take this with a grain of salt. I 'think' to get the best deal with SS direct deposits you need to set it up at the US embassy. I do know that they have a SS 'expert' on staff - you need to make an appointment now - I believe that is true of all services provided at the embassy. To me - it feels like SS must send dollars to the Bank of Mexico which converts them to Pesos and transfers the Pesos to the Mexican Bank - but I have no personal knowledge. I can't imagine ANY other bank which would do 'something for nothing'.


Looks like you're not going to be spending all your SS income once you start receiving it. I receive more income from U.S. than I spent in Mexico or spend in Thailand and have income therefore going into US financial institutions, where I can invest in US and international instruments easily. 

You already have Schwab. Don't you have a Schwab checking account with debit card? Schwab charges no ATM fees and reimburses all domestic and foreign ATM fees monthly ($30-$35 monthly for me).

I think anyone who doesn't spend all their US income in Mexico should get their income going into US institutions so that you can invest there, and not just in "retirement" instruments such as bonds, fixed income. If you're 60-65, even 70, you can have 20 years ahead, more than enough time to invest extra income in index funds that historically have been best investments over 5-10 year period (or leave better nest egg to heirs). 

Assuming you're investing extra income, you won't find yourself in situation where you must sell part of those mutual funds during market downturns.

Totally different than retirees who spend most of their income monthly, of course.


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## TundraGreen (Jul 15, 2010)

Meritorious-MasoMenos said:


> …
> I think anyone who doesn't spend all their US income in Mexico should get their income going into US institutions so that you can invest there, and not just in "retirement" instruments such as bonds, fixed income. If you're 60-65, even 70, you can have 20 years ahead, more than enough time to invest extra income in index funds that historically have been best investments over 5-10 year period (or leave better nest egg to heirs).
> 
> Assuming you're investing extra income, you won't find yourself in situation where you must sell part of those mutual funds during market downturns.
> ...


I agree. It doesn't make sense to me to have direct deposits into a Mexican bank that amount to more than one plans to spend. If all of a Social Security payment is needed every month, then getting it directly in pesos makes sense. If there will be any left over every month, then it makes more sense to get it in dollars at a US bank and transfer what is needed. As Meritorious says this is not an issue for those without excess income.


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