The exchange rate from US dollars to Mexican pesos changes quite a bit but food, living expenses, and commodities seem to remain cheap in Mexico as compared to what the same things cost in the US. That’s why more US citizens are living in, and retiring to Mexico. They can live like they’re rich and enjoy luxury food, products, and services for much less than what it would cost in the US.
The exchange rate from US dollars to Mexican Pesos is currently $1 – $19.01 pesos. Basically $1 USD is worth $19.01 pesos. The exchange rate changes quite a bit but things usually stay cheap in Mexico. Food, living expenses, and commodities are cheaper than what they cost in the US.
For example, food at some of Mexico City’s best, most upscale restaurants downtown and in Polanco, the Beverly Hills of Mexico City, can cost from $20 – $75 per person. You won’t ever pay more than $100 where upscale restaurants in Beverly Hills can cost up to $1,000 for a dinner and $3,125 for one plate of caviar.
Rent in a rich neighborhood is about an average of about $1,162. Rent in a studio apartment in Los Angeles starts at around $1,000. A retiree can live well with just $1,000 a month’s including rent, utilities, food, and more, according to an article on Investopedia. Prices for services like Uber cost less in Mexico City as well.
Although, there are quite a few other places in Mexico people retire to like Baja Malibu, Baja California near Tijuana. It’s a nice beach town with a lot of resorts and not that far from San Diego which is only about an hour away from Los Angeles.
Many US citizens immigrate to Mexico and simply use their pensions to pay for their living expenses. Funds sent to retirees in Mexico have increased by 7.2% in 4 years. That, however, isn’t exactly accurate as some retirees in Mexico still have their bank accounts in the US. Some retirees in Mexico are also there illegally. Some get visitors visas and renew them every 180 days or pay $194 for a one year visa. Others get visitors visas and let them expire.
Mexico usually doesn’t deport US citizens and fines are usually from $50 to a couple hundred dollars.
Regardless, whether you’re living there or just visiting, you can live like you’re rich in Mexico even if you’re not in the US. Food, living expenses, and commodities are cheaper and you can enjoy luxury food, products, and services for much less than what it would cost in the US.
So, what do you think? Can you live like you’re rich in Mexico even if you’re not in the US? Let me know I need the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
Image Sources: (Featured Image)Got any tips? Send them to me here and it may be featured in a post! firstname.lastname@example.org