Can You Afford to Live in Mexico? (Income Data & Residency Requirements)

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In this video I address two topics, how you can determine if your current income is enough to live well in Mexico, and two, if your income is enough to qualify for temporary residency in Mexico.

[@qroo]

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[@davidmalone9022]

It seems that in the recent couple of years, high earning couples (e.g., my wife and myself) have only been granted one permanent residency with the other being granted temporary residency (i.e., it seems the consulates have been reluctant to grant permanent residency to couples.) It happened to us, and as we have gotten to know our neighbors and fellow expats, it seems to be a common theme. The reason I was given was that I was not "retired" yet. It turned out that the consulate's definition of not being retired was that I wasn't receiving social security. Well, I was 66 at the time (67 now) and am waiting until I'm 70 to take social security. I was retired and had a signed statement to that effect from my employer. My income prior to retiring was well above the requirement and my savings accounts and retirement accounts each amounted to much more than the minimums from that aspect of their requirements. I continue to be baffled by all of that.

[@LouQuillio]

Leaving financial-solvency resident requirements aside for a moment, discussions of Mexico cost of living should first begin with housing costs. This is everyone's biggest budget item just about anywhere, and it colors the affordability of everything else. For some reason, this is the focus of very few similar videos. Our experience, living away from the tourist centers, is that some goods are cheaper and others not, but a home and its carrying costs are considerably cheaper. That's where the real savings are.

[@ricardochavez8717]

There are a lot of things that are just as expensive as in the US. And many of the nicer things in life are more expensive because import charges etc are added. Audio equipment, computers, watercolors, special foods, clothes in a department store, you get the idea... most people get along on beans and tortillas meat, and shocking amount of cheap junk street food. So yes, you can live on the cheap, but it may not be up to your habitual standards.

[@carlonoble4903]

Always great info. Thanks 🙏

[@marilynpeoples5099]

Wow that was really inciteful. Thank you.

[@armandovera2304]

I like the stats you provided, very informative.

[@monicadabney8471]

You always give great up to date notices. Thank you.

[@qroo]

You're welcome. Thank you very much for watching. :)

[@tuvia4082]

Since 2020, that escalated quickly.

[@qroo]

Yes, it really has!

[@jonmeek3879]

Excellent update!

[@qroo]

Thanks Jon

[@musaquazi3495]

Thank you for posting super helpful and laser sharp to the point video on this topic.

[@qroo]

I'm glad you liked it. Thanks for watching!

[@lagunastevest4]

Thanks Paul, I really appreciate ALL the great information!

[@qroo]

Thanks for watching!

[@antonytomas1]

I moved to San Cristobal as a disabled veteran, I get $2,400 a month and it's more than plenty. Luckily I got my citizenship through my mother though, so the minimum income limit didn't hinder me. So if you can go one of the alternative routes he mentions in the video, 1.5-2k USD is more than enough to live comfortably

[@tdgdbs1]

How do you manage VA's appointments?

[@bernardaflores1720]

Very interesting info.

[@RobEJC]

Excellent info and well presented. Anyone considering residency should act FAST and get it this year, since the requirements only go UP. I got my 1-year RT in 2022, renewed for 3-years in 2023, even though I'm not quite ready to "move" to Mexico. I'm glad I didn't wait until 2026 or later, since I might not qualify.

[@michaelsmith8467]

My wife has dual citizenship. She has siblings living in Culiacán, Guadalajara, and Mexico City. I applied for residency in 2021. Then the requirement was $3,200. I don’t regret making that decision. Even though the cost of living has increased it’s still very affordable. Don’t make the mistake of just living in an expat only area. Live in a community that is very rich in the Mexican culture. You won’t regret it. We live in Zapopan Central and love it.

[@tdgdbs1]

I got my RP in 2021; if I apply today, I would only qualify for temporal. I am very comfortable with $1500/month in Morelia, few expats here.

[@luperamos7307]

​@@tdgdbs1What do you think of crime in Morelia? If you are white and live there you stand out.

[@luperamos7307]

Do you think where you live in Guadalajara is safe? As a Latino from the US you don't stand out. But as a white person you do.

[@Dragon-kf5sb]

Hi, I am a dual citizen and my husband is a US citizen only with permanent residency. We are interested in asking you how you like Zapopan, we are considering moving there... Chapala area is extremely saturated and the real estate market market is incredibly high. We originally arrived at Acapulco ( my place of birth) right now we're in Morelos and looking around Zapopan... Any suggestions to consider?

[@michaelsmith8467]

@@Dragon-kf5sbWe suggest looking around Providencia. The area we like the most is boarder by Av Manuel Avila Camacho, Anillo Periférico Norte, Av Adolfo López Mateos, and Av Moctezuma. With Av Patria running thru the center of that boundary.

[@sandrabrown7466]

Very interesting Paul. X

[@qroo]

Thanks for watching, Sandra. I was intrigued when these numbers came out recently, and I thought others might be too.

[@andreafarinacci1469]

Thank you for sharing that information. I just renewed my residency visa working towards permanent. The income requirements have skyrocketed. We own in PDC and are there a few times a year. If you’re observant- you can see more Mexicans are doing better just in the 11 yrs I’ve been going down there. We spend more of our time on the beach- just seeing the families now with all their beach gear you know some ppl are doing better and that makes me SUPER happy despite the cost of living for expats. I love Mexico!

[@williampotter2098]

Don't use initials that other people don't know. If you aren't sure, Google it and see it the meaning is easily found. For people who aren't trying to impress people about your legitimacy, PDC is Playa del Carmen.

[@JamesBlazen]

Home prices in Ajijic and San Miguel likely to crater. Nobody to buy the homes. Retirees have dropped sharply.

[@bernie57]

why do you think that is? That gringo retirees have dropped off sharply recently?

[@LeeYvesMexico]

Economic times means it's inflation flu hit Mexico and we felt it ! Folks who had been in Mexico a long time, with lower pension incomes and on Medicare in the US went back home. Mexico is not a bargain for anyone anymore.

[@PhoenixwayNet]

@@bernie57 Market rules apply. Prices go up, demand goes down.

[@RubbingPotatoes]

​​@@PhoenixwayNetthat doesn't mean prices will "crater". It just means downward pressure until it reaches equilibrium.

[@mineralt]

Wit till Trump wins…purple haired old women will be leaving the US in droves

[@LivingSimplyinMexico]

Nice data points!

[@themetalmaiden7462]

More great info. I'm planning to start the process this year.

[@MountaintopKitchen]

If you don’t meet the income requirements, you can come in under a work permit with temporary residency. Of course you need an employment sponsor and approval from INM. This has to be applied for outside of Mexico at a Mexican consulate. You can scope out your employment opportunities while in the country under a tourist permit. Many people come in under this mechanism … then convert to permanent residency after a few years of work experience.

[@digitalgypsy21]

JUST FYI the regularization program is still open which waves the financial requirements. I would take advantage of this while it is still open if you qualify.

[@reefhound9902]

Income requirements have exploded. Used to be around $1500 and typical Social Security would qualify. Also, those Mexican incomes are average and include places where few ex-pats would choose to live. Most ex-pats will have standards higher than Mexican "middle class". I have a feeling the number of "perpetual tourists" have spiked despite increasing efforts to prevent it.

[@dasos9574]

Hi there I am from L A just moved to PV Jalisco My visa expired over a year ago and that's how I got my temporary visa /residency I did it on my own not paying anyone to help me ( I do speak español ) thanks again for your VIDs. immigration people do help you in the process.'

[@domingodeanda6113]

Wow, thanks.

[@qroo]

Our pleasure!

[@bongcrosby5598]

Baja Sur is crazy expensive, especially in the Cabo San Lucas to La Paz corridor. You can't get a home for less than $350k and it's nothing to see $1+ million homes. Three houses are for sale near me - $950k, $985k, and $1.3 million and they're not even that extravagant, just normal 3-bed with office and around 1500 sq ft of living space with pool. And that is impacting the wages the locals receive - the going rate to hire a laborer, like a gardener, is around $12/hour. Those are US wages. Yep, the days of $1 tacos and $1 beers and $75k homes are a thing of the past.

[@JamesG1126]

Cabo draws a lot of weathy Americans and Canadians. They come flush with profits from Bitcoin and Nvidia. There are lots of nice places to live in Mexico if you have a limited budget. You can always visit Cabo.

[@kingtrance307]

@@JamesG1126- Chetumal

[@passiveincomepathways]

Where is $12/hr a laborer's wage in the US in 2024?

[@marcn5733]

Good perspective, Paul. It does make total sense, from Mexico's perspective, to do this as Mexico transforms into a stronger global economy.

[@williampotter2098]

Can you imagine how bad it would be if people from a nearby country flooded into your country with no money and no means of support? Good thing Mexico has stiff immigration laws. They are very intelligent.

[@ralphholiman7401]

@@williampotter2098 , if only we had leaders who cared that much about our country.

[@Chuck-yt7iq]

Au contraire. They are refusing a lot of people creating a hole in their economy. Bad business.

[@ralphholiman7401]

@@Chuck-yt7iq, I think Mexico already has more poors than they know what to do with.

[@PabloPicapiedra1]

@@williampotter2098 A study by the US state department has estimated that there are as many as one million Americans living illegally in Mexico.

[@surf01er66]

Yes, that's crazy, I better look at Costa Rica again......

[@heltonja]

I met the solvency requirements for permanant residency but was turned away at the mexican consulate in Raleigh because I was not yet 65.

[@luyzqint3760]

This is my take: Mexico It is telling the US government that it is time to go after the root of the problem of immigration and that Mexico has leverage. Mexico is aware of being an escape valve for seniors that live on SS checks and can't afford to health care or live in the US. After the immigration talks last December in Mexico, once again, the US secretary of State said that the US is interested only on border security. Mexico again is proposing going after the root of the irregular migration, including sanctions imposed on countries like, Cuba and Venezuela, and others. The US said, no. Now, Biden is using a more strict and harsh approach (totally political - from both parties D/R-), elections are coming and he is not very popular. So here we are 🤷‍♂️

[@loumota68]

Pail, isn’t the income requirement based on a calculation linked to Mexico’s minimum wage? It is my understanding the current president has prioritized increasing the minimum wage which would also affect the minimum income requirements for foreigners. It is also worth noting that there are multiple ways to get residency which are not tied to income.

[@monicarowe7915]

Besides money, there’s also the environment to consider, to persuade top earners to establish firm roots in Mexico. I live in Merida and now 3 days of terrible smoke, probably the burning of fields. This certainly doesn’t persuade someone like me to stick around for too long, considering, also, the heat, dust, and growing traffic.

[@luyzqint3760]

Just so you know, the US is one of the few most polluters in the world 🤷‍♂️ And México doesn't need firms from outside. Nothing good ever happens when they do. Check how US and Canadian companies are polluting parts of Mexico

[@lucilanavarrete9287]

Los Angeles is waiting for you :)

[@atar6956]

Great information, please supply the percentage along with the numerical values since I find it gives a better perspective of the groups. Thank you.

[@cachecow]

Makes me sad I didn't move 20 years ago.

[@dustnspace]

Wow. I think it was $2,600 a month to get residency at the end of 2022, and that number was supposedly a double from a few years before too. People were upset they couldn’t retire on pensions at that level there, now I guess this will just wipe out lots of pension retirees from moving there. Glad I renew my residency for three years before I left. Spent the last year in PV but was so pricey I’m now in Thailand. 😊

[@Billionaireben]

Lots of places have cost of living way beyond middle class due to people moving there, especially for buying property; it's actually cheaper to rent a big house in Las Vegas than it is to buy the same house.

[@markustilgner]

A good indicator for the cost of living in a country is the so called Big Mac Index. Compare the price of a Big Mac Menu price in your country and compare to the price of that Menu in the country of intrest and you have a good indicator.

[@h.sanchez5347]

a mexican subway sandwich cost 170 pesos wich is about 10 dollars and 50 cents, a big mac cost about the same than the US.

[@mwiebe2663]

It’s important to note that the financial requirement levels aren’t actually deliberately and separately decided on each year by the government, they go up each January because the general minimum wage goes up. It’s not like the government has decided specifically to raise the financial bar for would-be immigrants. The requirements have been increasing because the current government, elected in 2018, has made improving economic conditions for the poorest in the country a priority, and one way to do this is an annual increase in the minimum wage each January. For years the financial requirements for temporary and permanent residency have been determined by multiples of the daily minimum wage. For temporary residency you need a monthly income of at least 300 days of the current general minimum wage, for permanent income it’s at least 500 days of the current general minimum wage. So as the minimum wage goes up, so do the financial requirements.

[@DavidDavid888]

Right. I wouldn't necessarily say that the Mexican government clearly only wants high-wage earners getting residency. The economic solvency requirements are just tied to the minimum wage.

[@Taldanmus]

great point..and the Mexican economy has been roaring for awhile..hence the "super peso"

[@passiveincomepathways]

@@DavidDavid888 the requirements literally make you have to be in the top 1% of earners to qualify... yes, they only want high-wage earners.

[@Matthew-gz4oh]

Smart country!!. I am surprised most all countries do not do something similar as well as healtcare required.

[@freedakaye6720]

The issue we are having is that our online investment company won’t give us a letter or some kind of “original” statement. They just keep saying print it out. The consulate won’t accept print outs.

[@nanadeneanu914]

Each consulate is semi -independent. What may not be acceptable in one, may be fine in another consulate. Research it. MX is a different country. Almost EVERYTHING they do is different. I have been here 10 yrs. I had a similar problem to yours, but worse. Remedy as stated above. But I am just NOW seeing that the consulates behave as most Mexican businesses, that I know of, in whatever way works for them!😂 I love this culture.

[@MNDanno]

Seems like easiest way to achieve solvency these days is to sell your house, put equity in savings and meet requirement via the savings route.

[@davidsebastianelli1326]

Hola Paul and Linda! Hola Danno! Feliz ano nuevo! That's what I've told my friends to do that can't qualify on their pension or their SS anymore. Sell it and put the required money in the bank for a minimum of 12 months, get a 180 permit a couple of times and live here affordably while that qualifying amount of money just sits and stews in a US bank account. Viola! You then qualify for a resident visa where you (I) can now live very comfortably on half of what you otherwise would have needed for the "economic solvency" requirements using your monthly income. BTW- The definition of Economic Solvency basically means "being able to pay your bills", so realistically it should be less than half of the $4,393us required. After just over a year living here and being warmly adopted by everyone, especially by "todas las abuelas' in my new neighborhood, I recently renewed my Temporary Resident Visa for three more years! Don't wait or the time will never seem to be just right! Buena suerte! Vivir como un rey en Ensenada!

[@roberterdman7268]

What would a be an adequate amount in the bank account ?

[@roberterdman7268]

What would a be an adequate amount in the bank account ?

[@monim5431]

Look up the requirements online at the web site for the two Mexican consulates closest to you. The amounts might be a little different between them.

[@quinnrivera5075]

New Orleans consulate was around $2800

[@charleslawrence3681]

You’re not saying, “until next time, hasta luego”

[@RobEJC]

I had my shot of whiskey ready for it, but I was sadly denied. And then I downed the shot anyway.

[@peterbedford2610]

The currency exchange rate tells the story

[@luyzqint3760]

Hola, Paul. I think it would be a good idea to have a video focused on the relationship/interaction between Mexicans and US/ Canadians citizens. After all these years of you living in Mexico, how much do you think that relationship has deteriorated and why. I definitely have seen it happen, and I know the reasons, but I would like to know your point of view from what have you seen through the years. I really would like to have better interactions, but respect is a most. Let's face it, today, some Mexicans still have the need to work in the US (that's a fact) for financial reasons. Just like there's a need, especially, for seniors, to move to Mexico for financial reasons (that is a fact). But, governments are failing to recognize the problem and do something about it. BTW: it is always nice to see a new video of yours (with only two exceptions)✌️

[@qroo]

Hi! I haven't seen you comment in awhile. It's nice to see you are still following the channel. As far as the relationship between individuals from different countries, I think it is difficult to generalize that. In tourist areas, locals seem to get numb to the presence of all of the foreigners, but they do enjoy the money their presence brings. One thing they don't like is the gentrification of local neighborhoods. When we are in areas that do not have much of a foreign presence, people are always pleasant. In fact, it is rare to encounter a Mexican with an anti-immigrant attitude -- at least one that they express. Of course, we are speaking Spanish and doing our best to assimilate. You are correct that economics have a lot to do with immigration both north and south. We are looking to live our best life. Now I am curious what those two exceptions are. :)

[@luyzqint3760]

@@qroo 🤣🤣🤣 gotcha!🤣🤣🤣. Those are the gun related. I really don't like guns and hate what they do, not just in Mexico, but, elsewhere as well ✌️

[@Anonymint-vj7bt]

Mexico currently has an offer for those who have a tourist visa stamp in their passport 2021 or before, where they can apply for residency directly in Mexico with no financial requirements. I read about this on Mexperience. Originally it was only for 2017 and before, but they recently changed it to 2021.

[@qroo]

Yes, with an expired 180 day FMM. The requirements change a bit by INM office with some offices requiring the expired FMM to be from 2020. It was intended to be an amnesty program for people stuck in Mexico due to COVID but they keep it going to bring in revenue. Mexico loves amnesty programs. They have them for immigration, improperly imported vehicles, overdue taxes (varies by local jurisdiction) -- it is the Mexico way. :)

[@Anonymint-vj7bt]

@@qroo btw in her presentation with Secretary Blinken at the 17 to 18 min mark, Alicia states their plan for those migrants not accepted to the U.S. and stuck in Mexico, the target is to settle them in the Yucatan with the new railway driving urbanization and development. Sounds like the Yucatan is going to become more and more urbanized and congested?

[@Anonymint-vj7bt]

@@NadineEbert I meant proving (for some it’s an onerous) economic solvency. I assume most people can rummage together the fees, otherwise they presumably can not survive in Mexico (at least not at a standard they would be comfortable) without U.S. standard of socialized welfare (not available in Mexico) anyway. Thanks for the clarification, which is why I alluded to the Mexperience article if anyone wants to look up the details. Qroo mentions the cutoff date might vary by INM office, which I think I might have also read before. I didn’t bother to pay too much attention to the details of it since it doesn’t apply to me. Just sharing for others looking for an option. I was already aware of the vehicle amnesty which applied to the vehicle I LEGALLY{*} drove across the border in 2021, but I have not availed of that gracious offer yet (may not need to do unless I move from the free zone). {*} amnesty was not only for illegal vehicles, i.e. afair includes those driven legally into the free zone My other observation in reacting more to Qroo's point about Mexico often doing amnesties, it seems that historically those who just lived on an expired FMM eventually were amnestied. Ironic because I was visiting as a tourist to Tijuana since 1980s, Puerta Vallarta since 1990s and Baja in general since 2001. Not suggesting anyone do that “illegal” action of overstaying though. May not be amnestied again in the future, except I have read some speculate that the globalist plan is to merge the 3 countries into the borderless NAU at some point, which would great from my perspective although would of course come with some tradeoffs. IOW, what I am speculating is that the gradual amnesties are slowly aligning the NAU countries towards assimilation. Ergo, the opportunities available now will not be available in the future. Which is the same as when in 2003, I saw hectares of beachfront land in La Paz for sale for $36k. Good luck if you can find 1000 sqm for $360k now.

[@adampiergallini6044]

The expired visa can be for any length of time, not just 180 days​@@qroo

[@johnnylovesart]

@qroo you must be in Mexico to apply for this program?

[@jessemartinez1105]

The US should also have similar requirements.

[@luyzqint3760]

Perhaps you should learn what is in place now. No for nothing people risk their life trying to get to the US 🤷‍♂️

[@tommyd688]

Legally immigrating to the U.S. is no walk in the park.. For most it take many years.. Walking across the border into the U.S. as an illegal vs going through the proper U.S. immigration system are two very different animals..

[@luyzqint3760]

@@tommyd688 especially when Mexicans don't have the 180 days Visas to not go in an irregular manner

[@sunmand6136]

@@tommyd688 Exactly !.

[@jessemartinez1105]

Did I say it was a "walk in the park"? Answer is no.@@tommyd688

[@elgringoec]

First thought, how did Mexican policy makers get to be so much smarter than US policy makers? 🤔 Next thought, over four grand a month coming in is more than enough to live well here. So in essence they're saying we don't want you foreigners here if your plan is to live frugally.

[@luyzqint3760]

No. It is telling the US government that it is time to go after the root of the problem. Mexico is aware of being an escape valve for seniors that live on SS checks and can't afford to health care or live in the US. After the immigration talks last December in Mexico, once again, the US secretary of State said that the US is interested only on border security. Mexico again is proposing going after the root of the irregular migration, including sanctions imposed on countries like, Cuba and Venezuela, and others. The US said, no. Now, Biden is using a more strict and harsh approach (totally political - from both parties D/R-), elections are coming and he is not very popular.

[@williampotter2098]

@@luyzqint3760 Biden is pretending he is trying to stop immigration and says he wants to pass a law. Whatever law passes won't be enforced. We already have immigration laws which he is ignoring. That is one thing he will be impeached for.

[@elgringoec]

@@luyzqint3760 Yeah, good points. I think moving there as seniors is more about rekindling excitement than living more cheaply. A lot of these seniors that like to make KZbin videos aren't living more cheaply than they could in the US. They might claim to be, but they're really having more fun. At least that's my interpretation. And seniors have Medicare in the US. That's affordable, and with a gap plan the exposure is fairly reasonable. They can get by without having to go to a "cheaper" country to make ends meet. It's just not going to be as fun for some. I find the embargo thing confusing. I don't know enough to have a valid opinion but on the surface it seems to have more of a deleterious effect on the people of the country whom we're meant to believe it is to help by opposing these crazy governments. They obviously aren't giving up their power and vast riches to give their people freedom to prosper. It feels like the US would be doing them the biggest favor by going in and setting up a democratically run government. But then again, historically that's been screwed up as much or more than it's helped. And corruption in the US is well hidden but it seems to be coming more and more to light. And why can't the US contract manufacturing and invest in neighboring countries more than in those across the globe? Fear of nationalization of their assets? Propose contracts with the threat of military intervention should they attempt that? There's gotta be some better way of helping these countries prosper while benefiting the helper.

[@luyzqint3760]

@@elgringoec actually, and this is something that is going to be the opposite of what you are being told: the sanctions are "supposed to be to force government change, for democracy". Reality is, the US imposed sanctions on countries that do not do as the US dictes, that's what happened in Cuba and Venezuela to use two examples. Countries are not allowed to choose their own ideology, because if they do, they will be sanction and isolated. So much for democracy. Right now, in Mexico, the US uses the USAID agency to try to change government here in Mexico, the left in Mexico is not aligned with the US interest, the right in Mexico, it's aligned with money; they will sell their mother to the US. Both, Biden and the US secretary of State have said: the goal of the US is to "impose the US rules on every country", if we don't do it, some other country will. Not very democratic if you ask me. Mexico's natural resources are in play, the US wants to "help" Mexico with it's Energy reform (oil and lithio). But not many US citizens know all these. Politicians there in the US and in Mexico, care more about their interests than the best for their citizens. The US being the wealthiest country in the world and having homeless and seniors abandoned, while it spends trillions on wars, it is a shame.✌️

[@moic9704]

I think the difference is that in Mexico immigration is not politicized. We dont have a mexican party saying: "We will build a wall and Central America will pay for it!" or a political party saying that President Lopez-Obrador is allowing an "invasion" For Mexico, immigration is more of a bureaucratic affair.

[@JP-fv4bm]

There are places in the US with affordable cost of living; l live in the upper Midwest, which is a very safe area with friendly people. The downside is that the winters can be almost unbearable at times. I could picture myself living south of the border 3 or 4 months out of the year. That would be good enough for me; my parents were born in Mexico, so it would be easy for me to do so in the near future.

[@davidsebastianelli1326]

The people are very welcoming and friendly here and most everyone who's moved here from the US will tell you flat out that it's much safer than most of the US. Don't let the news fool you. In the US crime, and especially violent crime happens everywhere in random places, whereas down here it mostly happens only in well known areas that are very easy to avoid and you wouldn't want to live there. Buena suerte!

[@whatsitlike6392]

You're right, currently Biloxi and Gulfport are rather affordable. Weather should be similar but a bit milder to Merida? We got Mexican residency but with all the inflation we are going back and forth now. Cost of living in Mexico is quickly catching up to US.

[@roberteggleston2339]

I grew up in central Michigan in the 60's and 70's. I remember there being snow on the ground all winter without any melt off all season. A snowstorm would dump 2-3 feet of snow regularly. I still have relatives there and I know now they rarely get more than 6 inches of snow at a time with much melt off throughout the season. The average temp. has to be higher than it used to be. It would be very bearable to me. At least in the area I grew up in. Global warming.

[@charlesking8033]

The salary you mentioned in the video are they before taxes or net salary?

[@donbobness]

Thank you great info 👍 as usual. I really appreciate your post 📫 they give great perspectives in life in Mexico 🇲🇽 from many aspects of life in Mexico

[@crpdiem]

You can also get temporary residency through the current "regularization" program. No income verification needed. Just overstay your Visa and have a INM facilitator take care of the process.

[@clownpocket]

My friend did that, I thought it ended.

[@crpdiem]

@@clownpocket Apparently, they continued the program into 2024. It's still in effect.

[@yumyumkitty2104]

Hmmm, can a stamped passport be used, instead of a Visa? Otherwise, I will have to learn how to get a Visa.

[@crpdiem]

@yumyumkitty2104 Yes, a stamped passport (180 day tourist visa) works as well.

[@CapricornSceptic]

How does household size work into an analysis of cost of living per capita? My assumption is that most Mexicans do not live alone and share expenses, unlike many expats.

[@elgringoec]

Good point, he left that out. I figured he meant that was the requirement for a single individual looking to repatriate. If a couple or family is seeking, seems reasonable it wouldn't be that same amount for every individual in that unit. But for the amount he said, a good sized family could live quite well in the US.

[@DrAJ_LatinAmerica]

Yes they do. And millions are living in a home that was once their grandparents or parents home. And the numbers the government uses for the middle and upper class are all very wrong. $25k pesos in your hand a month a person with family trying to pay rent can't afford a decent car. I have many friends that earn $25k a month with a wife and two kids but have to live life crap. Home without air conditioning, propane heater in the winter, no car, kids in bad public school, they have to eat a diet that will only lead to obesity and type two diabetes. Now "if" both husband and wife work, both earn $20k pesos a month, in their hand, no kids, they take the bus to work and are willing to do that for 10 years, then have kids, then they have a shot at middle class. Or if they live in their grandparents house so they have no rent, that helps. If someone dies in the family, they might inherit an old car.

[@luyzqint3760]

@@DrAJ_LatinAmerica It also is cultural, we have lived like this even before the colonialism. We like and love our family culture 🤷‍♂️

[@DrAJ_LatinAmerica]

@@luyzqint3760 YES !!! Familia es importante. La más grande familia la mejor. Todos trabajamos en equipo.

[@williampotter2098]

I kind of have the feeling that the Mexican middle-class lifestyle is not what we would accept as middle-class. I could be wrong. I would like it if you would do a video about what the lifestyle of a Mexican person in each of these categories is like.

[@luyzqint3760]

Focus on the purchase power on each country, not on how much does does makes, since you earned dollars and pay with dollars, and Mexicans earned pesos and pay with pesos. Other dynamic is, family structure.✌️

[@bongcrosby5598]

Actually, the Mexican middle class is just as strong and valid as the gringo middle class. So much so that businesses that used to cater to gringos are turning their attention the Mexican nationals. Resort areas are catering to and recruiting customers in their own country rather than looking north of the border. Resorts and real estate deals that used to be 100% gringo are now sometimes 50-50, half gringo and half Mexican nationals.

[@DanielGonzalez-wo1ce]

For the people who are interested in coming to México i highly recommend to learn or at least understand the language, since here people think that every foreigner is rich and they tend to raise the cost of their services/products

[@sekhmetgoddessofwar]

If that's the minimum income requirement, I'm in trouble because that may be more than my pension. However, with my annuity, I can qualify for PR.

[@robinmckay3249]

Paul, I have a question. We are returning to the states. Do we need to notify the immigration office of the move in order to retain our Permanente status? Thanks!

[@lifeisgoodafter60]

Thanks a million pesos.

[@cams1951]

Hi Paul, do you have any recommendations in the Puerto Aventuras area (or near) to help with consolidating temporary residence. After getting the go ahead for temporary I believe we get 30 days to complete the process in Mexico. I would like to use a person who knows the ropes to help us. Thank you.

[@timlinator]

I love Puerto Vallarta and would love to retire there.

[@yumyumkitty2104]

Lots of mosquitoes there? And extremely humid and crowded with tourists?

[@Userhtfy3426]

Paul, could you do some videos on El Tren Maya? I am sure many people will be interested

[@desertverbenia1234]

Mexico is a no-go in my book!

[@dzonthego]

Are these figures gross income or net. If net...based on US taxes or Mexican taxes?

[@tonynes3577]

I'd better apply for Mexican residency Now, because I do make that much working in my medical career as an RN. But when I retire in a few years, I probably won't, well maybe. I can hopefully still live in my Cabo condo, as a "tourist" if I don't get residency.

[@tdgdbs1]

I used to teach NCLEX prep for Mexican nurses who want to work in California; I'm working remotely now as an auditor. There are many options for us.

[@mikel2887]

Yikes. Paul, how much approx does it take to even do the application process and actual move (assuming bringing just 2-3 suitcases with you)....so basically, how much to get to mexico with 2-3 suitcases and show up at your apartment/hotel as a resident?

[@davidsebastianelli1326]

Application and your stamp at the Consulate runs about $50.00us and then another couple hundred + for the "canje" at the INM after getting here and then after that it's up to you on how much you want to spend. A little over one year ago I got my Temporary Resident Visa and drove here from the LA/Ventura area of CA.

[@hernandaland]

Is this per household or per individual salary?

[@angelofamillionyears4599]

Paul. If we deposit the 75,000 us for temp residency, are there accounts that pay interest or is this just a savings account. Can it be in Mexico stocks> thanks

[@thinkplanetearth2946]

I thought that if one doesn't meet the monthly financial requirement one could qualify by having a certain amount of money in investments? Is this no longer the case?

[@redMaple_QC]

Canada should do the same thing.

[@jgs8838]

Another helpful video. Thanks, Paul! Just to make the economics clear, affordability generally means that prices are lower as compared to some other geography or region. Wages are a price; they are the price of labor. So, if prices are lower somewhere, ergo wages will be lower. This is why people who have options will retire to a more affordable location than that in which they worked.

[@camerandalili7489]

Think you could still get a residency if you have an account with a specific balance(69K) correct?

[@RodSquad2401]

Hmm used to meet the retirement / net worth criteria couple years ago...guess no longer an option?

[@qroo]

It has drastically increased over the last few years in response to Mexico's minimum wage increasing. The financial requirements are based on a formula of X times the minimum wage.

[@Jason-Richards]

Isn't there a savings amount as well if you're retired? Meaning "income" isn't the only option for financial sovereignty, correct?

[@shaykespeeer7040]

Guess we'll be crossing Mexico off our list of potential retirement destinations.

[@h.sanchez5347]

yes please dont come we are full already

[@Youtubsucks5]

The real question is can i afford to live in the United States!

[@MexicoAdventurer]

No one can. That's why we all moved here.

[@DrAJ_LatinAmerica]

YES, easy. Just live like the street people in San Francisco. Or pick crops in Texas. I know a hundred Mexicans living in the USA that live on marijuana farms. They get room and board and free plant based diet. All about how you want to live. New York penthouse or free living off grid and off the land.

[@MexicoAdventurer]

@@DrAJ_LatinAmerica idjut

[@brendalamalfa5030]

Absolutely I can't. But I did get temporary residency for Mexico last year. I want to move there permanently in the next 2 years, early retirement 😊.

[@davidsebastianelli1326]

@@brendalamalfa5030That's what I did. I just wish I would have done it sooner. Buena suerte!

[@tamarkohnmarks5394]

Is the money for a couple?

[@randyross9426]

Is this for someone with temporary residency already? Will this affect us when we become Permanent Residency?

[@thehoofersclub]

Do you have to be a Mexican citizen to buy or sell property?

[@jena2664]

I am moving to hawaii.

[@angelofamillionyears4599]

Most expensive in the US

[@McGyverPilot]

Just curious, Paul, and I realize this info isn't readily available, but of the 78M residents below middle class, what percentage of them work in a Maquiladora? This tells us how much of this class is reliant on international commerce.

[@moic9704]

A quick google search says 3.3 million mexicans work in maquiladoras in 2023, that is 5.5% of the mexican population economically active (61 million)

[@GipsyDean]

They want to keep the lower income foreigners out because it puts pressure on the rents for the lower classes.

[@emcphx]

What would be interesting to know is are these ‘top earners’ actually being targeted and if so why? Or is this just a function of the current law where expats using economic solvency have to earn ‘X’ amount of the average salary and the laws simply haven’t changed to keep up with current environment.

[@MrBwalendy]

How about a video covering the RNE program for Mexican residency? That would be much more useful information.

[@qroo]

RNE program is good but it only applies to a limited number of folks because of the requirements of having an expired FMM from 2020 (some offices accept 2021). That doesn't help the majority of viewers who are viewing from the U.S. and Canada. That's over 92%.

[@MrBwalendy]

It is my understanding that this changes/updates every year in January.@@qroo

[@blackwatch7151]

I have heard that some offices are accepting 7 day expired FMM from this year as long as you have traveled to Mexico in the past 10 years. So if you enter Mexico today and get 7 day FMM head to immigration office on day 8 and apply?@@qroo

[@davidsebastianelli1326]

@@MrBwalendyYou could come down and get an FMM and hope that next year the regularization program is still available. I've recently saw a video where a woman named Verlaine came down to La Paz this past year and got less than a couple of weeks on her FMM and beforehand arranged with a Lawyer/facilitator that as soon as her FMM expired she would go through with the regularization process. She said it was pretty easy and did the whole process in 2023. So really you may not have to wait. Ask an immigration specialist/ lawyer, it will cost a few thousand dollars but it's well worth it if you ask me and especially if you really want to live here. Buena suerte!

[@MrBwalendy]

@@davidsebastianelli1326 Thanks, I am already in Mexico since December 18th, 2023. My FMM expires in June. My immigration lawyer said it should be good for 2025 RNE program. I am verifying this. If I don't have to wait then all the better. Thanks

[@NN57143]

iI's hard seeing my plans crushed by this ridiculous requirement.

[@Brent-ox8lk]

I thought that having around $45k in the bank was also accepted as proof of financial solvency for temp residency? Do you not mention that because it doesn't qualify or something?

[@CandycaneBeyond]

I was wondering why? Do you pay taxes to Mexico for your income?

[@stonew1927]

Is there a way to skirt around the whole residency issue, like maybe living part of the year (or most of it) there and part in the US? I wonder what financial requirements the US has for Mexican residents to live here? Oh never mind . . . so many cross the border illegally and still manage to survive. Maybe we can cross the border south legally and also manage to survive without worrying about all the legalities of permanent residency/retirement....

[@MEN101]

A plumber for a basic visit in Mexico will cost a local 200-300 pesos. For a foreigner it’ll be 700-900 pesos. Foreigners almost always are expected to pay 3-4 times the price for the same service. Always do your home work and refuse to be ripped off.

[@luyzqint3760]

Good advice, if foreigners don't pay more than Mexicans, we all win. Stop the GREED!.

[@lucilanavarrete9287]

Plus learn Español.

[@MEN101]

@@lucilanavarrete9287 or just move to another country which is safer, cheaper and more welcoming to foreigners. And where they speak English with foreigners.

[@pablomenchaca4217]

@@MEN101 If you have all those requirements, then just stay in your home country! It's the prerogative of people in those countries to use the language they want with foreigners, as it's their country & customs. You need to adapt if you want to go there, not the other way out.

[@tdgdbs1]

If they speak English to you; you have something they want. @@MEN101

[@lc7822]

Does that mean a married couple need 120k a month

[@briandempsey3157]

How about going over the average earnings for overwhelming majority? Don't you think that would be relevant?

[@Munromad]

I'm Australian and got my temporary residency just last October. They declined me for permanent as I wasn't old enough, despite qualifying financially. So much for working hard, investing well, and retiring early! I'm always surprised by the number of people who want to move to Mexico (or any country really) and expect to be able to do it with no money. I see it as like anything else - if you can't afford it, then you can't do it. Why should this be any different?

[@tdgdbs1]

I got my permanent residency in my 40's, I told my interviewer that 25 years of military service aged me 20 years and my body is broken and ache like a 65 years old man.

[@Munromad]

@@tdgdbs1 It's so true - I should have used that line, although I only served 9 years.

[@Brendan2Alexander]

You can convert your temp residency to permanent after 4 years as temp, am pretty sure. Temp residency gives you everything you need besides being able to legally work in mexico.

[@Munromad]

@@Brendan2Alexander yes, it's 1 year initially, then can be renewed for another 3, then converted to permanent. I'm here in Mexico for a little over a year and will do my 3 year renewal before I leave.

[@ralphramirez1979]

Is their a minimum amount on savings cd 401k. Say 500-900k

[@matney12]

Around 272k for permanant and 72k temp residancy

[@bklyn2797]

paul, are these class figures pre or post tax?

[@daveadams5607]

When qualifying for a Mexican Visa they are looking at monthly bank deposits for the last year, so those are after tax numbers. You can increase your dependents and decrease your deductions to make your income look larger each month, but it will give you a larger tax bill in the US each April.

[@DrAJ_LatinAmerica]

Got to be post tax. In general in the US or Canada people talk about gross salary. In general in Mexico they talk about post, in their hand as millions here never see their taxes. They don't complete a yearly tax form. Companies do the individuals taxes. Companies actually steal a portion of workers taxes to make extra profits. (They keep the person's tax refund) Millions here have no clue as to how the taxes function.

[@bklyn2797]

@@daveadams5607 that has literally nothing to do with my question.

[@daveadams5607]

Is the Mexican income requirement you mention for a Temporal or Permanente?

[@qualityguru9047]

After 4 years temp you can go to permanent , it’s just the next step

[@qualityguru9047]

After 4 years temp you can go to permanent , it’s just the next step

[@davidowens1424]

Can we use rental income to meet the income solvency requirement?

[@tdgdbs1]

Austin consulate said no; has to be from employment or pension.

[@davidowens1424]

@@tdgdbs1 Looks like I'll have to wait until 62 or a return of stolen Mexican land :) #makeamericamexicoagain lol

[@ddavidson5]

I am sure the Mexican government feels they have enough poor people already so why wouldn't they set the bar high(ish). One assumes their goal is not to provide a cheap place for retirees and others but to grow their economy as much as possible and provide employment for their citizens. Having expat immigrants with lots of money that don't need local employment is one way to do that.

[@williampotter2098]

They can't have many left. Over 5% of their population has illegally come into the US in the last 2-3 years.

[@papavaliquette4978]

Unlike US

[@lesaw7577]

Wow I just fell off my chair I will be a retiree living in Mexico and I didn't have a top job as a doctor or a lawyer or any of those things and I will be only getting $1100 a month US Will I not be able to live in Mexico?

[@julielacourse8327]

so sad no longer cheaper