ChapalaClub.com Takes a Look at Planning 3 Retirements with the Last One at Lake Chapala

January 1, 2011

ChapalaClub.com Takes a Look at Planning 3 Retirements with the Last One at Lake Chapala Retirement Research
 
A 2004 study by the Center for Retirement Research at Boston College’s Center for Retirement Research in 2004 discovered over 80 % of married couples retired in different years. Usually it was the husband who retired first.
 
 My own experience with my clients here at Lake Chapala bears this out. This may be because in general husbands tend to be older than wives and started work sooner and so are able to retire sooner. As you’re no doubt finding out Retirement is a new beginning and like all new things it requires some careful thinking and planning.
 
Ask Yourself These 4 Questions About Retirement
 
# 1 Which of you should retire first if you can’t pull it off at the same time. This is both an emotional and a rational decision. One of you may be very anxious to quit the rat race and the other is still enjoying the challenge. Think about which retirement benefit will hurt family finances most.
 
# 2 If you’re the one retiring, should you claim Social Security at 62, the earliest possible age or opt for larger benefits later. (Both my first wife and each took ours at age 62). With all that’s going on in Washington some are wondering just what Social Security will look like in a few years. How much will it buy, will they reduce the benefits, or raise the retirement age.
 
 
# 3 If your analysis looks like you may be eating a lot of Tuna Fish sandwiches after retirement, what do you do? I have a plan which can boost your lifestyle, and reduce your taxes and health care costs all at the same time. I’ll outline it below.
 
# 4 What about part-time work after retirement? Well, I guess you could become a ”Greeter” at the local WalMart. Nothing wrong with that, but most want to do something more fulfilling with their retirement time, I have some great ideas on this too below.
 
OK, Where’s the Meat ? Here the Meat in a Nutshell. Move to Lake Chapala where you can live a Caviar Lifestyle on a Tuna Fish Pension.
 
You can live very well on less than $2,000 USD a month if you own a home. Many have a nice life here on even less. We have homes form Under $100,000 to over 1 Million… but no matter what your home budget is we all get to breath the same fresh mountain air, enjoy the year round spring like weather, beautiful flowering trees and the stunning lake and mountain views.
 
But, like the pitch man on late night TV says, “But wait, there’s more ! ” A lot more. Low Cost Health Care Full Health Care for under $300 USD a year (some restrictions apply the first year)
 
Unbelievably Home Taxe.  Home taxes so low we brag about them instead of complain about them. My home is 2000 sq. ft, 3 bedroom, 3 bath 2 car garage with a large yard filled with fruit trees and gorgeous flowers in a nice area 5 minutes from Chapala in a nice area.
 
My yearly taxes are under $70 USD per year. I told you we brag about our low taxes. No Need for Fire or Liability Insurance I don’t carry fire insurance (My house is all solid brick with a cement roof and tile floors so not much danger of fire)
 
I don’t carry liability insurance on my home. If someone steps in a hole on my property and breaks a leg the judge would tell them if they were so uninformed as to sue me, “What, you were not looking where you were walking?”
 
 
Affordable Domestic Help I can afford a maid and gardener on my cop’s pension. Always Something Fulfilling to Do. There are over 80 different English Speaking Clubs and Organizations here at Lake Chapala… and many of them involve “giving back” voluntarily without the government forcing you to “spread the wealth around”.
 
Well, I promised to give it to you in a nutshell. There’s so many good things to say it’s hard to put it all in a nutshell, even a very large one. So, if I’ve wet your appetite to learn more here’s what you should do.
 
Get an insider to share his secrets about successful living here at Lake Chapala, Mexico …
 
E mail: Sid@ChapalaClub.com and put “Planning Retirement” in the subject line so it will jump out at me when I scan the hundreds of e mail I get.
 
I’ll personally answer each one. As Exclusive Buyers Only Realtors affiliated with the local MLS and real estate group (GIL) the ChapalaClub.com Dream Team is eager to be of help in any aspect of buying or renting a home here…. especially about how to get the best deal on a home here –
 
There are some wolves in sheep’s clothing out there selling real estate and I’ll be happy to be your protector (35 years as cop makes me well qualified to help you avoid these guys).
 
 NOTE: We are not rental agents… but we are willing to help when you come down for a visit to find a rental through the various rental agencies in the area assuming at some point you may consider buying a home here.
 
(Note: There are a few wolves in sheep’s clothing in the rental business too and we’ll steer you around them)
 
In short we play mother hen and protect you in all aspects of getting started on your new life here at Lake Chapala, Mexico.
 
Again for more information please send me an e mail to Sid@ChapalaClub.com and put “Planning Retirement” in the subject line and … I’ll personally answer your e mail ASAP.
 
All for now. Siempre tu amigo,

Sid

  • Heather Krause

    Hi Sid,

    Thanks for the article. Another thing to consider when discussing who will retire first…

    I’m 7 years younger than my husband, and we were trying to figure out the retirement shuffle living north of the border. Even if he retired at 62, I’d have to work another 7 years before I could get Social Security. With the lower cost of living in Mexico, our 401k and retirement savings, along with one Social Security income will be sufficient to live on nicely. Therefore, moving to Ajijic will allow us to both retire at the same time and enjoy all that Lakeside living has to offer… together. No split-shift retirement for us!

  • http://www.chapalaclub.com Sid Grosvenor

    Hi Heather. Thanks for the great post. You make some excellent points.

    With your computer skills you also have the option of continuing to earn (not really work if you love what you do) via the high speed internet we enjoy here.

    More and more ex pats supplement their North American retirement income by working on line in some capacity part time.

    Thanks again, Tu amigo, Sid

  • Ruth Hill

    Sid, nothing came thru with your Jan 15 post from Deanne Barber. Can you send it again, please. I’d like to hear what she has to say. Thanks!

  • http://planningvacationandmayberetirement dan meyers

    Hi Sid, its me again Dan Meyers. We’ll. I be there May 9 20 I am looking forward to seeing and talking to you . My family is getting excited also. . Six of us will be there to celebrate our 50th wedding anniversary. See you soon. Thank you, Dan Meyers

  • http://www.chapalaclub.com Sid Grosvenor

    Hi Dan, Good to hear from you. I can tell you’re excited. That’s one of the ways I stay excited.. Being around all the new comers to Lake Chapala. It helps me to remember how very fortunate I am to live here. Each year as more and more new friends come down to share our little slice of paradise it gets even better. Happy Early 50th.

    Look forward to helping you celebrate in May. Tu amigo, Sid

Email for more information:
Sid@ChapalaClub.com

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