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<<Anyway, after reading "Retire in Mexico on $800/month," I went flew down in December and tried to corner every U.S. retiree I could find in Guadalajara, Chapala, Cuyutlan and Puerto Vallarta to ask their advice. My limited sample concurred $800 is feasible, "but it depends on what you want to give up." Are there any Fools out there with personal experience in this topic, pro or con? I'd like to learn a whole lot more before I make any firm plans.>>

I heard something several years ago regarding retiring in Mexico that would be worth checking out, I think. Someone was talking about an acquaintance of theirs who retired to Mexico, in the process moving all their assets to Mexican banks. They are enjoying an affordable lifestyle with several servants and a luxurious home; however, they are stuck there. They cannot move their money out of Mexico.
Take this for the hearsay it is but, having lived abroad myself and dealt with various country's regulations on moving money in and out of the country, I think it could very well be true. It can probably be worked through international banking - just be wary of banking in Mexico!

Regards,
Rosalind
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I think you are correct. I had a friend do the same thing about 15 years ago. He wanted to come back to the USA, but had trouble moving funds out.

He ended up liquidating all assets, and moving the money out a little at a time in cash. Took him several years to do this. A good thing he did; it was all in Pasos, and the currency exchange was in his favor at the time.

Need to be careful about how you move cash. Probably no problem getting it into Mexico, but if you are caught bringing more than $10,000 across the US border, you will have to explain to a lot of people, including the IRS where it came from, and why you are doing it in cash.

Need to be very careful about gold in any form. Due to the Mexican antiquities laws, they are tough on movement of gold across the borders. The above friend had a significant amount of Gold Krugerons (sp), and was caught before he got into the US. I am not sure he ever got them back, I know he did not get them into the US.

This may have all changed by now, but certainly something to look into.

LOL. TTFN....Tiggertoo.
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Rosalind,

<<… having lived abroad myself and dealt with various country's regulations on moving money in and out of the country, I think it could very well be true. It can probably be worked through international banking - just be wary of banking in Mexico!>>

Good point. And it's any country, not just Mexico. Americans are often surprised by restrictions not found in this country and often forget others don't live under the same laws and tax system we do.

Regards…..Pixy

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Tiggertoo,

<< Probably no problem getting it into Mexico, but if you are caught bringing more than $10,000 across the US border, you will have to explain to a lot of people, including the IRS where it came from, and why you are doing it in cash.>>

LOL. Unfortunately in today's world it's true. I can see the headlines now: "76 Year-old Has Assets Seized at Border. Suspected As Member of Mexican Drug Cartel." It could result in devastating losses and take years to unravel.

BTW….What does TTFN signify in your sign off -- The Total Fool Network?

Regards…..Pixy

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Its from Winnie the Pooh. Tigger says it when he is leaving.

Ta Ta For Now.


TTFN..Tigger
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